Battling passive funds, AllianzGI to launch UK performance fee option

Asset manager Allianz Global Investors is to offer British retail clients the chance to pay a lower yearly fee for some of its UK equity funds if they are prepared to give up a slice of any outperformance.The move is the latest attempt by an active fund manager that picks assets for clients to counter low-cost exchange-traded funds that passively track indexes and have gained market share as cheap central bank money has curbed market volatility."We want to regain market share from passive (funds