The Allianz RCM discovery Europe strategy fund will be a Dublin-domiciled Ucits III offering, with the group set to launch in October 2009.
The fund, which will be pan-European, is based upon an existing Cayman Islands domiciled offering, which launched in June 2007 and currently has E30m assets under management.
The long/short equity strategy is to generate superior risk adjusted returns through all market cycles. Two thirds of the fund will consist of high conviction stocks which is complimented by positions with a shorter term investment horizon.
Allianz Global Investors Europe managing director Nick Smith says: “We are seeing high levels of demand from clients for products with more visible returns but lower volatility. The existing Allianz RCM discovery Europe fund has had impressive performance2 since inception so we are delighted to launch a Ucits III fund which will allow more investors access to this successful strategy. We believe that funds which can deliver more predictable returns in today’s unpredictable market environment will see continued and growing demand.”