RWC Plans Asia-Focused Hedge Fund

Jun 26 2008 | 12:02pm ET

London-based RWC Partners has a new name and a new team in place for…a new hedge fund. The firm, formerly known as MPC Investors, said that Carmel Peters and Kirsty McLaren will be joining from Sofaer Capital to launch an Asia-focused hedge fund. 

Peters most recently served as the lead portfolio manager at Sofaer, responsible for the Sofaer Capital Asia Hedge Fund. Previously, she was the director in charge of Asian equities and emerging markets at Putnam Investments.

McLaren was the joint portfolio manager for the Sofaer Asia Hedge Fund and initially worked with Peters at Rothschild Asset Management before moving to JPMorgan securities on the Asian desks.

The RWC Asia Ascent Fund is a UCITS III vehicle that will complement RWC Partner's existing range of UCITS III funds, which have grown to over US$900 million since launching at the beginning of 2007. The fund will invest across the Asia region and aims to significantly outperform the Asian (ex-Japan) indices.

The RWC Asia Ascent Fund will have pound Sterling, U.S. dollar, Swiss franc and euro hedged share classes, which will be available in both a retail and an institutional form. 

“Given the current environment, the market is crying out for funds that effectively take advantage of the flexibility now allowed under UCITS III,” said Peter Harrison, CEO at RWC Partners. “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.”

The firm this month dropped its MPC Investors moniker to reflect “the growth of the company's investor base abroad and the need for a name that can be used across multiple jurisdictions.”

RWC was established in 2000.


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