Allianz unveils Strategic Bond fund for Riddell; transforms BRIC Stars fund to GEM

Wider investment remits

Allianz Global Investors is widening the remit of the Sterling Total Return fund, managed by Mike Riddell, and renaming it the Strategic Bond fund, as well as converting its BRIC Stars fund into a global emerging markets mandate, Investment Week can reveal.

Riddell (pictured) joined Allianz Global Investors from M&G last October, taking over the group's £970m Gilt Yield and £71m Sterling Total Return funds on 30 November. The former M&G bond manager joined the group with the view to build up its bond franchise in the UK, taking over the two funds from PIMCO, which previously managed them on a outsourced basis. Riddell gears up to build UK bond franchise at Allianz Global Investors More recently, the £71.2m Allianz Sterling Total Return has received regulatory approval to be renamed to Strategic Bond fund. It will remain in the IA Ster...