Allianz Global Investors has announced that it plans to scrap RCM from its fund names in a bid to ‘strengthen’ its brand.

In a statement, Allianz said, ‘In order to further strengthen the Allianz Global Investors brand and to render our fund offering more transparent, we have decided to simplify the names of our equity-based OEIC (open-ended investment company) funds – those managed by RCM.’

A spokesperson for Allianz stressed that the strategies and investment objectives of the funds will remain unchanged.

The group said that the move to rename some of its mutual funds would take place on 30 April this year.

Individual investors in its funds can expect to be notified of the changes in their next OEIC statements, dated 5 April 2012.

It was confirmed that the £940.8 million Allianz PIMCO Gilt Yield Fund run by Mike Amey, its £84.8 million PIMCO Sterling Total Return Fund and its £47.3 million PIMCO UK Corporate Bond Fund, both of which are managed by Ketish Pothalingam, will retain their existing names.

Allianz added that RCM remained an ‘integral part’ of its Global Investors business and that it would continue to use the name in the institutional market.

RCM Capital Management was founded in 1970 and went on to become a wholly-owned subsidiary of Dresdner Bank in 1996. Dresdner Bank and Allianz merged in 2001 to form Allianz Global Investors.