Allianz has tapped NFJ Investment Group as the new subadviser of its OCC Value Fund, replacing Oppenheimer Capital, according to an SEC filing. The change will take effect August 15. The fund will then become the Allianz Global Investors Value Fund, which Allianz plans to merge into the Allianz NFJ Large-Cap Value Fund.

According to Morningstar's Miriam Sjoblom, the OCC Value Fund is down 27 percent this year. 

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