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RWC launches global value fund for Purves and Lance
Markets
by Emma Dunkley on Aug 25, 2011 at 10:38
RWC Partners has launched a global value fund for Ian Lance and Nick Purves, the managers of the firm’s Income Opportunities fund.
The RWC Global Value fund, seeded with the firm’s money, is an unconstrained portfolio which can have up to 100% overseas exposure.
Along with Lance and Purves, John Teahan will work on the fund as an analyst. The Ucits III fund, domiciled in Luxembourg, has a minimum investment of £10,000.
Lance and Purves also run the RWC Income Opportunities fund , which differs as it has around 50% in overseas exposure. The fund does not sit in the Investment Management Association’s Equity Income sector, as this category restricts exposure to non-UK equities to 20%.
Lance and Purves left Schroders in May last year, to join RWC Partners in August 2010. The managers, who ran the Schroders UK Income Maximiser fund, now run around £1.1 billion at RWC.
Teahan also previously worked at Schroders on the Maximiser fund, leaving the firm in April 2009 to pursue opportunities outside of the industry. He was then reunited with Lance and Purves after joining RWC in September last year, to manage the firm’s Enhanced Income fund .
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