InvestmentsMay 8 2013

RWC launches first fund for global team

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RWC Partners has announced the first fund for global equities head Louise Keeling.

The RWC Global Horizon fund, which will launch in June, will be based in Luxembourg and will have a sterling share class.

The group has yet to confirm the fee structure for the new fund but chief executive Dan Mannix said investors would have the choice between a flat fee clean share class and cheaper annual charge with a performance fee based on five-year rolling returns.

“This way the performance fee only gets paid if we generate alpha and maintain that for five years,” Mr Mannix said. “The time horizon the manager has to make alpha is much longer, fairer for the investor and more aligned with their horizons.”

Ms Keeling joined last month from Marathon Asset Management and has been tasked with building a global equities team at RWC.

She said the Global Horizon fund would take a “contrarian” approach through the use of the “capital cycle” approach which Ms Keeling used at Marathon.

The manager added: “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.”