Allianz GI launches US small cap fund in Europe
Allianz Global Investors (Allianz GI) has launched the Allianz US Small Cap Equity fund, available to investors in the UK and Europe.
The fund is actively managed using a bottom-up strategy focussing on US companies that have a market capitalisation between $100mn and $3bn. It mirrors an existing strategy, the AllianzGI US Small Cap Growth fund.It is managed from San Diego by John McCraw and a team of four portfolio managers. John McCraw has also managed the US sleeve of AllianzGI’s Global Small Cap fund for the last year.
McCraw argues that the opportunities arising from small caps in the current growth environment have so far been undervalued. “The fact that so many small caps are neglected by the research community – 6,000 US small companies are covered by fewer than five brokers – also increases our ability to find alpha by putting our own in-house research expertise to work to seek out the stocks with the highest return potential” he said.
The Allianz US Small Cap Equity fund will be available through the AGIF (Allianz Global Investors Funds) platform, a vehicle AllianzGI uses to distribute its funds to a number of markets across the globe (excluding the US). The new fund will hold around 130 stocks and its benchmark will be the Russell 2000 Growth Index.