The two long-only funds, the RWC European Growth Fund and the RWC Continental Europe Growth Fund, will be launched later this quarter, the firm said in an announcement.
Clapp and his investment team of seven portfolio managers and analysts joined RWC in September from Pensato Capital, the firm Clapp set-up in 2008.
The senior members of the team have worked together for more than 10 years and employed an investment process which has consistently outperformed the benchmark since Clapp began managing money at Fidelity in 1990.
The RWC European Growth Fund will be managed following the strategy employed by the team’s existing Cayman-domiciled fund, while the RWC Continental Europe Growth Fund will have a limit on exposure to UK companies.
The funds will form part of RWC’s Ucits range which accounts for $3.5bn (£2.7bn) of the firm’s $12bn assets under management.
It said fees will be in line with other funds in its Sicav range, but exact terms could not be confirmed.
Dan Mannix, chief executive at RWC, said: “Graham was extremely keen to launch a long-only fund for European investors. During his time at Fidelity he had a huge following with the Fidelity European Growth Fund producing significant outperformance under Graham’s management and being the largest European equity fund at the time.
“We are seeing interest in the European equity space and believe the asset class currently offers long-term strategic investors a real opportunity.”
