Allianz GI to close EcoTrends fund and rebrand risk range

Allianz Global Investors is to close its EcoTrends fund in October, while in a separate move it will add the label 'multi asset' to its RiskMaster range.

The EcoTrends fund, which launched in 2008, invests in companies associated with eco-energy, pollution control and clean water. However, the firm said: "We wrote to clients last week to explain that the Allianz Global EcoTrends fund will close in October. "The fund's assets under management have reached a size of approximately £6.3m, at which the fund is no longer economically viable and too small to be managed efficiently." The best way to make returns from clean energy Subscriptions in shares of the fund were suspended on the 29 July, although it will be open for redemption...