The RWC Asia ascent fund, to be launched over the forthcoming months, will be managed by Peters and McLaren who both join from Sofaer Capital. The Ucits III fund will complement the existing range of funds managed by Miles Geldard, which have grown to over $900m since their launch in 2007.
The new fund will invest across the Asia region and aims to outperform the Asian (ex-Japan) indices. It will have GBP, USD, CHF and EUR hedged share classes which will be available in both retail and institutional forms. The sterling share class will have distributor status and all classes will be registered for sale throughout Europe.
Peters has 25 years of experience in Asian equities and a strong track record in the management of long only and absolute return funds. McLaren was the joint portfolio manager for the Sofaer Asia hedge fund and has over 13 years of experience in Asian and emerging market equities.
RWC Partners chief executive Peter Harrison says: “Given the current environment, the market is crying out for funds that effectively take advantage of the flexibility now allowed under Ucits III. Carmel and Kirsty will not sacrifice participation in the upside of Asian equity markets for short term protection of volatility as this is not an ‘absolute’ return fund. But the flexibility of Ucits III means that significant outperformance during a protracted bear market is a key target for the fund.”