Threadneedle absolute return duo quit for RWC
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Threadneedle absolute return fund managers Peter Allwright and Stuart Frost are quitting the firm to join RWC Partners.
RWC head of business development Dan Mannix says the pair will take on the management of the group’s strategic reserve fund. The fund was previously managed by Miles Geldard, who left with Lee Manzi to join Jupiter to run global convertible and global multi-asset strategies. RWC is expected to launch more aggressive products for the pair at a later date.
Allwright joined Threadneedle in 2005 as a global bond fund manager and is responsible for absolute return and high alpha strategies. He also manages the Threadneedle European bond and global bond funds.
Frost joined the Threadneedle fixed income team in 2007 and manages the Threadneedle absolute return bond, target return and target return core strategies.
RWC chief executive Peter Harrison says: “ Their style is transparent, liquid and proven – three elements that are essential for our clients’ portfolios in today’s market. Peter and Stuart join us with a great reputation in this space and we are looking forward to them developing our Ucits III absolute return funds.”
RWC Partners recently hit the headlines after hiring the Schroder income pair of Nick Purves and Ian Lance. Schroders announced last week that it was taking a 49 per cent stake in RWC.
Threadneedle has appointed Quentin Fitzsimmons as lead fund manager of the absolute return and the target return funds with immediate effect.Threadneedle has also hired Vladimir Gerasimia, an emerging market debt manager at Fortis Investments, to its emerging market debt team and Richard Stevens, bond manager at Old Mutual Asset Managers, to its government bond team.
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