RWC Partners has confirmed the RWC Asia Ascent fund will launch on 20 October.
The fund is an Asia-focused Ucits III fund, designed to complement the existing range of funds managed by Miles Geldard and Lee Manzi.
The flexibility allowed under Ucits III means the fund will take short exposure to the market and stocks. It is anticipated the additional flexibility will significantly enhance the fund’s returns in periods of market weakness, said the company.
Targeting index outperformance, the Asia Ascent fund will draw upon the hedge fund expertise of the Asian team with Chris Shale joining Carmel Peters and Kirsty McLaren for the launch.
Shale joins RWC Partners from Sofaer Capital, where he worked alongside Peters and McLaren. The team have also previously worked together at Rothschild Asset Management in Hong Kong in the 1990s.
Peter Harrison, chief executive at RWC Partners, said: “Bringing experienced hedge fund managers to the Ucits market is the best way of exploiting the increased flexibility allowed under Ucits III.
“The team have exceptional hedge fund and long-only track records. We believe that the disappointment suffered by investors in Ucits III funds such as 130:30 funds and absolute return funds is a direct result of the appropriate skills not being widely available.”
He said it is particularly unusual to find Asian equity managers with extensive shorting experience. The team is convinced that Asia Ascent offers investors a compelling opportunity to access Asian equities at a time when flexibility and experience have never been more important.
Harrison said there has already been interest in the fund from UK and European investors.
“With Asian equity markets down significantly this year investors are looking for teams who have experience through multiple market cycles. Should market conditions continue to be challenging, the fund can reduce its market exposure and go short, but with markets already having significantly fallen, opportunities are clearly starting to present themselves on the long side.”
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