Allianz Global Investors, the asset management arm of Allianz SE (NYSE: AZ), has launched the Allianz RCM Global Eco Trends Fund which invests in companies with exposure to “Eco-Sectors” including the EcoEnergy, Pollution Control and Clean Water sectors.
“Protecting the environment is likely to be a major focus in the 21st century and many companies stand to benefit – both those that provide solutions to environmental problems and those that utilize those solutions,” said Bozena Jankowska, lead portfolio manager of the Allianz RCM Global EcoTrends Fund.
The Fund offers access to three environment-related sectors:
EcoEnergy – e.g., alternative energy and energy efficiency
Pollution Control – e.g., environmental quality, waste management and recycling
Clean Water – e.g., water treatment and supply
RCM Capital Management LLC (RCM SF), also a subsidiary of Allianz SE, has been retained to manage the Fund’s assets, and RCM SF has in turn retained its affiliate, Allianz Global Investors Advisory GmbH (AGIA), to conduct the day to day portfolio management for the Fund.
“In our opinion, the environment appears to be having a significant impact on businesses and financial markets, and population growth and industrialization are likely to put a strain on limited resources such as fossil fuels, precious metals and fresh water,” said Ms. Jankowska, portfolio manager. “We believe that historically high oil prices have heightened interest in alternative sources of energy and that a tightening regulatory environment around the world has and will continue to encourage companies in all markets to commit more resources to environmental business practices.”
The Allianz RCM Global EcoTrends Fund is an “interval” fund, a type of closed-end fund that limits when investors can sell shares, in part to give the manager more flexibility in managing the underlying assets. In contrast to open-end funds, this structure allows the manager to invest a greater portion of the Fund’s assets in smaller, potentially less liquid securities, which are part of the Fund’s investment universe. Allianz Global Investors currently plans to offer additional shares of the Fund through a continuous offering.
About Allianz Global Investors
Allianz Global Investors of America, the U.S. investment arm of Allianz SE, provides access to the specialized equity and fixed-income expertise of the Allianz-affiliated investment firms, including PIMCO, NFJ Investment Group, RCM, Nicholas-Applegate and Oppenheimer Capital. The Fund’s manager, Allianz Global Investors Fund Management, is a subsidiary of Allianz Global Investors and, together with its investment management affiliates, had approximately $691.9 billion in assets under management as of September 30, 2006. Our investment solutions – including mutual funds, managed accounts and closed-end funds – represent a broad spectrum of asset classes and investment styles.
About RCM and AGIA
RCM Capital Management LLC (RCM SF) was founded in 1970 as a boutique equity asset manager and today is a part of RCM, a global investment organization consisting of separate affiliated entities, owned by Allianz SE, with offices in key financial centers around the world, including San Francisco, London, Frankfurt, Hong Kong, Tokyo, and Sydney. As of September 30, 2006, these affiliated entities collectively advised or managed approximately $140.0 billion, including approximately $19.1 billion managed by RCM SF. The day-to-day portfolio management of the Fund is conducted by Allianz Global Investors Advisory GmbH (AGIA), an affiliate of RCM SF and part of RCM, with its principal offices in Frankfurt, Germany and personnel under its supervision in London, England. As of September 30, 2006 AGIA managed approximately $27.4 billion, principally for its clients in Europe.
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