RWC to launch Global Horizon Fund
RWC is to launch the RWC Global Horizon Fund for recent joiner Louise Keeling.
Keeling joined RWC in April as a partner to establish a long only global equity team, having previously worked with Jeremy Hosking at Marathon Asset Management.
The long only unconstrained global equities fund, which RWC expects to launch in June, will be launched as a Luxembourg UCITS Fund to sit alongside the USD2.5bn RWC already manages across its UCITS funds.
Keeling says: “Having the investment freedom to carry on managing money in the same manner as I have done at Marathon and knowing that there is a fully functioning operation behind us was a big draw to me joining RWC.
“In launching the RWC Global Horizon Fund we are taking an approach which allows us to make contrarian investments which we believe will create outsized returns for investors. The investment style and alignment of interests between us and our clients is reinforced by the focus on multi-year alpha generation and we will encourage investors to take the five year rolling performance fee structure with a very low base fee. We believe that considering shorter term performance and tracking error tend to distract and can cause fund managers to miss opportunities presented by going against the herd and taking advantage of out of favour assets.
“By applying the capital cycle philosophy and putting great weight on management incentive structures we will identify companies whose intrinsic value is being excessively discounted by The Market and where we believe that anomaly will be eliminated over time. The fund is truly benchmark agnostic and seeks to find the best listed investment opportunities wherever they are in the world.”
RWC currently manages USD5.8bn across equity income, equity long/short, activist equity and convertible bond strategies.
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