RWC partners will launch a Luxembourg-based US equity long short fund, pending approval by regulators.
The UCITS III RWC US Alpha is due to launch in October if it is given the seal of approval by the CSSF in Luxembourg.
It will be invested in very liquid stocks, offering investors daily liquidity and high levels of transparency.
The fund will be run by Mike Corcell who previously managed the Threadneedle Crescendo fund, a US equity long short fund which returned over 19% on an annualised basis since its launch in 2004.
Intended to be registered for sale throughout Europe, the fund will have share classes designed to be tax efficient for German and UK investors while offering fully hedged currency share classes in euros, dollars and sterling.
"We find consistent messages coming back from our clients that there is a need for absolute return funds that are managed by proven portfolio managers and that are offered in liquid, transparent and regulated vehicles," says Peter Harrison, chief executive at RWC Partners.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till