RWC to launch global equity absolute return fund
RWC Partners is launching the RWC Advance Absolute Alpha Fund on 16 February, to be managed by Priya Kodeeswaran.
Kodeeswaran joined RWC Partners in November 2009 from Cheyne Capital where he was responsible for a similar strategy.
The RWC Advance Absolute Alpha Fund is a Ucits III global long short equity absolute return fund. The fund will focus on companies and industries that are undergoing rapid change or stand to benefit, or lose, from innovation.
RWC Partners recently launched the Ucits III RWC US Absolute Alpha Fund managed by Mike Corcell and has raised USD600m for the strategy since its launch in October 2009.
The RWC Advance Absolute Alpha Fund will offer daily liquidity with EUR, GBP and USD hedged share classes. RWC Partners will apply for authorisation in Germany, Italy, the UK, Switzerland and France.
Peter Harrison (pictured), chief executive at RWC Partners, says: “We have known Priya for a number of years. He has a strong track record and we have seen considerable interest from a number of previous colleagues and peers who have chosen to invest with him at launch.
“The strategy is particularly appealing to us as it is highly liquid and well suited to Ucits III. In addition, Priya's approach is focused on rapidly changing or innovative companies where the sell side typically struggle to find consensus on future earnings. The anomalies amongst these companies' stock prices create great investment opportunities on both the long and the short books.
“We expect RWC Advance Absolute Alpha to have lower volatility than broad equity indices with the objective of achieving strong returns uncorrelated to market direction."
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