Redwheel has launched the TM Redwheel Global Value fund, a UK OEIC variant of the $739m Redwheel Global Intrinsic Value SICAV.
Set to be managed by the same portfolio managers, Ian Lance and Nick Purves, the new fund is a response to UK investors’ demand for diversification away from highly-concentrated growth global equities.
The team invests in areas such as financials, energy and some industry stocks as well as the UK, Europe and Asia, where the team currently find the best opportunities.
Ian Lance, manager of the fund, said: “Investors are increasingly questioning whether they are truly diversified when so many global equity portfolios are exposed to the same handful of stocks.
“The success of the Global Intrinsic Value fund – and the appetite from UK investors for an OEIC version – demonstrates demand for an alternative that looks beyond today’s market leaders to identify high-quality companies trading below their true worth.”
Since inception in December 2023, the Redwheel Global Intrinsic Value fund is up 70.4% in the IA Global sector. This represents a 32-percentage point outperformance compared to the average global peer and has outpaced the tech-heavy MSCI World by almost 18 percentage points, according to data from FE fundinfo.
See also: Redwheel: US exceptionalism is an illusion of endless growth
