Kunal Ghosh, manager of the £207m Allianz Emerging Markets Equity fund (formerly BRIC Stars fund), has more than halved exposure to Russia, Brazil and India ten months after scrapping its geographical allocation constraints, while China is also a much smaller part of the portfolio.
The fund's exposure to Russia, previously its highest regional weighting, has been cut from over 23% in February 2016 to 14% 12 months later while Brazil is now 8% of the portfolio, down from a 20.5% position....
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