Opalesque Industry Update - RWC Partners today announced it will launch the RWC Macro Fund managed by Peter Allwright and Stuart Frost at the end of January 2011. The fund will be the first fund that RWC Partners will domicile in Ireland. Subject to approval it will be structured as an Open Ended Investment Company (OEIC) and will be a Qualified Investment Fund (QIF). |
Allwright and Frost were previously responsible for the Threadneedle Macro Trading Crescendo Fund and their new fund will replicate this strategy. They managed their previous hedge fund from October 2008 until June 2010 and, despite the financial and hedge fund crisis, total returns for the fund were over 15%.
The RWC Macro Fund will invest in opportunities across liquid markets with a strong emphasis on rates & currencies. Equity indices and commodities will also be used to express the macro trading views of the team. The team have developed an investment process based around capital flows, price analysis and macro economics that has the flexibility to perform in most market environments.
Allwright and Frost have strong track records in the macro trading world both having had long-standing careers in trading and analysis at investment banks. In particular Frost spent over 20 years at NatWest Markets where he developed a reputation globally for his knowledge and skill in the area of chart based trading and analysis.
Allwright and Frost recently assumed responsibility for the RWC Cautious ARC Fund which is a low volatility UCITS III Fund. They have already seen good growth for the fund with assets increasing by 33% in November 2010 to $80m.
Commenting on the forthcoming launch, Dan Mannix, Head of Business Development, RWC Partners, said:
“Macro remains one of the most enduring hedge fund strategies mainly due to its ability to generate returns through the cycle. Peter and Stuart spent many years trading and analysing macro markets within investment banks before moving to manage hedge funds. Since then their experience and approach have allowed them to navigate the financial crisis whilst making money and avoiding signficant drawdowns. We also believe the levels of transparency and liquidity that Peter & Stuart’s approach allows is particularly appealing for the current investment climate.
“We have decided to domicile this fund within the EU as a direct consequence of the regulatory uncertainty related to the marketing of hedge funds. We expect to see signficant demand for the fund and are structuring it to meet the highest standards of external oversight and governance. Structuring the fund as a Dublin domiciled QIF allows the team to replicate the investment strategy of their previous hedge fund.” Corporate website: www.rwcpartners.com