RWC Partners has rebranded its global macro Alternative Ucits fund and permanently installed David Basile and Lakshman Harendran as lead managers.
The London-based investment boutique has now confirmed Basile and Harendran, who are both members of its global convertible bond team, as co-leads on the fund.
In addition, RWC Partners has renamed the fund RWC Core Plus and changed the strategy to have a keener focus on convertibles.
It will now be centred on a core portfolio of convertible bonds, which will be complemented by other assets classes for the purposes of hedging.RWC Partners said the fund's new approach will have many of the benefits of a traditional convertible bond fund but it will have additional flexibility to express the macro views of the team, which will help to reduce downside volatility and enhance returns.
Commenting on the changes, Dan Mannix, CEO of RWC Partners, said: ‘Davide and his team have demonstrated over many years that they are among the best convertible managers in the market and convertibles provide the perfect starting point for total return strategies.’
Allwright and Frost had co-run the fund since joining from Threadneedle in November 2010. Their destination upon exiting RWC Partners has not yet been revealed.