Allwright and Frost joined RWC Partners in October 2010 from Threadneedle where they were the joint portfolio managers of the Threadneedle target return fund, absolute return bond fund and the hedge fund, macro crescendo trading fund.
RWC Partners said that the fund will be managed to target cash +6% on an annualized basis with daily dealing, offering retail and institutional share classes in EUR, GBP and USD.
RWC Partners head of Business Development Dan Mannix said that Peter and Stuart’s approach allows returns to be made from the fixed income and currency markets in a yield tightening environment.
"The new fund sits next to the fund they already manage that targets a return of cash 3%. In order to achieve the new fund’s target of cash +6% Peter and Stuart will be taking more risk through scaling up their position sizes.
"The strategy though remains the same, ie a macro driven absolute return fund investing in the fixed income and currency markets. It is highly liquid and uses the same successful process the managers have used for many years," Mannix said.
RWC Partners will seek to have the fund locally registered across Europe including Italy, Germany, Luxembourg, the United Kingdom and Switzerland.
