Allianz RCM has confirmed the October launch date for its Brazil fund, the first such actively managed fund in the UK.

The new OEIC fund will launch on 7 October after a fixed price offer period offering £1 per share that will run between 30 September and 6 November. There will also be no initial charge until 29 October.

Michael Konstantinov, chief investment officer of global emerging markets at RCM, said there were a number of positive factors from an economic and investment perspective in Brazil.

He said a strong, fast growing economy; stable government, large, young population; and huge commodity resources were all positive factors for investors in the Brazil fund.

Konstantinov added, ‘Brazil is best known for its huge commodity resources – iron ore, oil and agriculture and there will be plenty of great investment opportunities in these areas.

‘However, we will also be focusing the portfolio on companies that are benefiting from increasing domestic affluence.’

The fund will invest predominantly in Brazilian companies, however, up to 30 per cent may be invested in other Latin American and international companies that generate a significant proportion of their sales and earnings in Brazil.

After the offer period, the initial charge will rise to 4 per cent. Minimum investment in the fund is £1,000 through an ISA or £500 into an OEIC. The fund’s annual management charge is 1.75 per cent.