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You are here: Announcement

Allianz to launch Brazil OEIC

By Charlotte Banks
Friday April 30, 2010 at 04:00

The Allianz RCM Brazil fund will be run by the RCM Global Emerging Markets team, which manages the £850m Allianz RCM BRIC Stars fund.

The fund will invest predominantly in Brazilian companies but will also retain the flexibility to invest outside of Brazil.

Michael Konstantinov, chief investment officer of Global Emerging Markets at RCM, says: "There has been much talk about the potential offered by Brazil and we believe the country is now poised to deliver on this.

"We are excited about the drivers Brazil has in place, including high growth, an era of lower inflation and interest rates, and a stable banking system. Also in contrast to other emerging markets, we expect returns in Brazil to be generated from both the stock market and expected currency appreciation.

He adds: "Indicators such as rising wages and employment levels, which are creating a very buoyant middle class, underpin the long term growth prospects for Brazil."


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