Until now the fund has only had a an accumulation share class, but the firm said UK DFMs have been asking for a distribution variant as the need for income “has become paramount in investors’ minds”.
The fund has been managed by David Basile for three years now after he joined the company as partner and head of convertible bonds.
Prior to this he held the same position at Morgan Stanley Investment Management.
Since he took over, the Global Convertibles Fund has returned 16.3% compared with 12.9% from the sector, according to FE Trustnet.
Dan Mannix, newly appointed CEO at RWC, said: “Basile joined us three years ago to take on our Global Convertibles Fund. During that time Basile and his team have delivered exceptional performance putting the fund in the top decile against the peer group.
“He has also overseen significant growth in assets taking the fund to over $1.2bn, as well as the launch of the RWC Asia Convertibles Fund. In recent years UK DFMs have really embraced convertible bonds are part of balanced portfolios.”
