Redwheel, formerly RWC Partners, has operated with a boutique investment model since its inception in 2000. Under the leadership of CEO Tord Stallvik, who took on the role in August 2021, the firm continues to emphasise a structure that allows investment teams a high degree of autonomy, supported by a centralised operational platform.
With nearly $18bn (£13.44bn) in assets under management, Redwheel positions itself as a differentiated proposition for investors and has acquired fund management teams over the years that prioritise long-term alignment and a clear investment philosophy.
It now has investment capabilities covering UK value and income, emerging markets, Europe, Japan, global equity income, fixed income – specifically convertible bonds – and sustainable growth, each with “distinct and separate” investment management teams.
“We have a structure that offers real investment autonomy to teams,” says Stallvik.
There is no CIO, but the firm has a head of investments Arthur Grigoryants, who represents the investment teams at exco meetings and board discussions.
“Arthur’s role is neutral, and it works really well. He is not writing pieces on how they should think about the markets but supports them with that and oversees our investment risk team. Like with other central functions in the business, he is advisory and sits with them a couple of times a year and helps review how decisions are made.”
Although there is no overlap between teams in terms of investment processes etc, there are several ways the teams do come together.
“Increasingly, teams share research meetings with companies, for example, but there is no forced mechanism where they have to do so. We are trying to create a broader culture where people are collaborating, even though they may have that autonomy as an investment team.”
This culture, Stallvik adds, is something they have started to talk about more externally, especially since becoming signatories to the City Hive ACT Framework in 2023, which offers transparency to fund selectors around a firm’s values, commitments and initiatives and overall internal governance.
“It has been very helpful for clients to see us more clearly as a specialist, highly active, equity focused asset manager.
“It shows them how the organisation operates, supports these strategies, how the autonomy creates alignment with clients and their long-term goals, and explains our revenue model.”
Read the rest of this article in May’s Portfolio Adviser magazine