AllianzGI’s range of European growth funds will be re-examined by Morningstar analysts following the announcement that Matthias Born, co-manager of its European and eurozone equity growth strategies, is departing.
He will join Berenberg Asset Management in October as CIO, Thorsten Winkelmann will take over as sole manager of the AllianzGI fund range.
The funds now under review are: Allianz Adifonds, Capital Plus, Continental European, Euroland Equity Growth, Europe Equity Growth, German Equity, Thesaurus, Wachstum Euroland, Wachstum Europa, Concentra and Kapital Plus.
A spokesman for AllianzGI said: “It is standard procedure for Morningstar to review funds after a portfolio manager’s departure. However, these funds have always been a team effort and there remains a wealth of accumulated experience behind them.
“So, while we regret that Matthias is leaving, the team remains in very good shape and the funds in very good hands. We will be meeting with Morningstar soon, and are confident that they will be satisfied with our continued approach.”
Goldman Sachs’ India Equity Portfolio is also under review after Prasant Khemka, CIO for emerging market equity and lead portfolio manager, left the firm.
In an analyst note, Morningstar’s Mark Laidlaw said: “Khemka was an impressive manager in a highly competitive Indian equity universe, as reflected by the Morningstar analyst rating of silver, so his departure is most certainly a loss.”
