RWC reopens Gambhir’s Europe Absolute Alpha
Group to accept new money into offshore vehicle from today after soft closure last year.
RWC has reopened its $215.9m Europe Absolute Alpha fund managed by Ajay Gambhir, after it soft-closed the fund in 2011.
The Luxembourg-based fund, which launched in July 2010, has delivered a return of 7.3 per cent since inception compared to the MSCI Europe index’s return of 0.7 per cent.
Dan Mannix, head of business development at RWC, said: “The debate on how to classify Ucits absolute return funds is distracting investors from some really interesting investment opportunities found within long short equity strategies.
“Not only are certain parts of the European equity universe starting to look compelling from a valuation perspective but the dislocation within the asset class allows a long short investor to take advantage of it from both sides.”