Industry Updates

RWC's Allwright and Frost launch AR bond & currency team

Monday, November 01, 2010

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Opalesque Industry Update - RWC Partners today confirmed that Peter Allwright and Stuart Frost have taken over day-to-day management of the RWC Cautious Absolute Rate and Currency (ARC) Fund. Frost and Allwright joined RWC Partners in October from Threadneedle where they were joint portfolio managers of the Threadneedle Target Return Fund, Absolute Return Bond Fund and the hedge fund, Macro Crescendo Trading Fund.

Allwright had been awarded two gold medals by Sauren in the Absolute Return sector. Old Broad Street Research (OBSR) and Standard & Poor’s (S&P) also recognised the quality of the funds Allwright co-managed, with A and AA ratings respectively for the Absolute Return Bond Fund.

The RWC Cautious ARC Fund is approximately $60m and will continue with its existing target of cash +3% over the market cycle; a target that matches two of the funds they were previously responsible for.

Allwright and Frost have long-track records in the fixed income world having over 20 years of combined experience in managing fixed income funds. Their investment approach involves core allocations to high grade fixed income, supplemented by alpha strategies that take advantage of investment opportunities in the fixed income and currency markets.

The fund is daily priced, UCITS III and is registered for sale in Italy, Germany, Luxembourg, the UK and Switzerland. The fund also offers existing fully hedged share classes in EUR, CHF, GBP and USD currency denominations.

Commenting on the appointments, Peter Harrison, Chief Executive Officer, RWC Partners, said:
“The demand for different UCITS III Absolute Return funds continues to grow apace. Over the last three years Peter and Stuart have established themselves as managers who navigated the financial crisis exceptionally well, by continuing to deliver on their absolute return targets despite the extremely challenging environment.

“Peter and Stuart’s strategy is particularly appealing for those investors who recognise the risks inherent in bond markets and want to seek to profit from them. The strategy takes advantage of opportunities in the bond and currency markets in both rising and falling rate environments.

“Many of the absolute return strategies in UCITS III still originate in the equity long short space. Peter and Stuart are Fixed Income and Macro experts who have managed absolute return funds in the UCITS space for many years. This approach has been particularly appealing to investors as it provides real diversification for those needing uncorrelated UCITS III strategies.

“Peter and Stuart have always been crystal clear with their clients as to what the drivers of returns have been in their funds. They provide full transparency and the focus on the rate and currency markets means investors know what they are getting in the fund. For professional investors and asset allocators alike this fund can form a core part of their absolute return allocations." Corporate website: www.rwcpartners.com

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