RWC Partners has expanded its Oeic range by launching a UK domiciled version of its $2bn (£1.4bn) Global Emerging Markets strategy.
The RWC Global Emerging Markets Oeic is a long-only vehicle and will invest in between 50-70 holdings.
Like the Ucits version, the new fund will be run by John Malloy (pictured) who will be supported by RWC’s 20-strong emerging markets and frontier markets equity team.
Since launching the Luxembourg Sicav in 2015, Malloy has returned 166.1%, higher than the MSCI Emerging Markets’ 108.9% and the IA GEM average of 100.6%, according to FE Fundinfo.
UK wholesale market clamouring for diversifiers like EM
The latest launch brings the total number of Oeics in RWC’s stable to three. The boutique business has been slowly expanding its product range for the UK wholesale market, launching Ian Lance and Nick Purves’ UK Equity Income fund in 2018 and recently unveiling a Global Equity Income Oeic for BNY Mellon Investment Management hire Nick Clay.
See also: BNY Mellon fund faces more disruption as RWC touts near identical mandate for Nick Clay launch
RWC Partners head of European distribution Gary Tuffield said the firm was seeing “significant demand” from UK investors for high quality companies in emerging markets and other opportunities to diversify their portfolios.
“We are committed to the UK wholesale market and the launch of the Oeic will provide investors with an easier way to access the skill of our team and the clear opportunities that exist in emerging markets,” Tuffield said.
Malloy and his team follow an index-agnostic and long-term thematic approach, often homing in on companies that are off the beaten track and not followed widely by market participants, in larger markets like China and those with few foreign investors like Zambia and Bangladesh.
“It has been over five years since we expanded access to the strategy with the launch of the Ucits fund and the Oeic is the latest step in opening up our strategy to a broader range of investors,” said Malloy.
“The launch coincides with an encouraging outlook for emerging markets with a combination of unprecedented global stimulus, structural tailwinds, secular growth in various emerging themes in addition to attractive fundamentals and valuations.”
