Allianz Global Investors is to merge away three UK equity funds as it refocuses its adviser business in the UK.
The group is to close its UK equity, UK index and UK growth funds, with investors offered the option of rolling into an appropriate fund in the Allianz RiskMaster range.
That range consists of four actively managed, risk-targeted multi-asset funds: RiskMaster Defensive, Conservative, Moderate and Growth.
The remainder of the Allianz UK equity range will remain unaffected by the changes, with Simon Gergel continuing to run the £73m UK Equity Income fund,
Andrew Neville remains in charge of the £45m UK Mid Cap fund while Jeremy Thomas and Matthew Tillett co-manage the £10m UK Unconstrained fund.
Nick Smith (pictured), AllianzGI's head of European retail sales ex Germany, said the changes would enable the group to focus on funds it believes can deliver strong, long-term returns in the current environment.
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