Allianz Global Investors is planning to close its Global EcoTrends fund and rename its RiskMaster funds.
The firm said the £6.3m Allianz Global EcoTrends fund was “no longer economically viable and too small to be managed efficiently”.
The fund, which is due to close in October, has struggled to perform. Since its inception in February 2008 the fund has lost 11.8 per cent.
Elsewhere, the group announced it was renaming their four RiskMaster funds to “increase transparency”.
The four funds, Conservative, Defensive, Growth and Moderate funds, will have ‘multi asset’ added to the name.
Allianz GI cut fees on the range in May of this year. The funds now target an ongoing annual charge of 0.99 per cent, a substantial decrease from the previous charges, which were between 1.34 per cent and 1.8 per cent.
The funds have struggled to perform. The quartet all sit within the third quartile of their respective sectors in the past three years.
| Current Name | New Name |
| Allianz RiskMaster Defensive fund | Allianz RiskMaster Defensive Multi Asset fund |
| Allianz RiskMaster Conservative fund | Allianz RiskMaster Conservative Multi Asset fund |
| Allianz RiskMaster Moderate fund | Allianz RiskMaster Moderate Multi Asset fund |
| Allianz RiskMaster Growth fund | Allianz RiskMaster Growth Multi Asset fund |
