Large-cap popularity prompts Minn to steer into smaller cos

Allianz manager trims mainstream large-cap weighting to avoid following the herd

Allianz’s Seung Minn is preparing to rotate his RCM US Equity fund towards smaller companies in the view large caps are set to capture the attention of the mainstream. The £132m fund, which is top quartile on a three-year view, has benefitted from a bias to large-cap US stocks recently, but Minn said he is now shifting to smaller companies. In line with his value approach, Minn looks to trim positions as soon as they become popular in the market, favouring companies he can trust in the long term over those with short-term appeal. “We want some gyration in valuation, so a steadily g...