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RWC Partners snaps up 12-strong Hermes investment team
by Annabelle Williams on Sep 18, 2012 at 11:24
RWC Partners has bought out the three investment teams behind Hermes Focus Funds and will rename the division RWC Focus Funds.
The move will see the teams on three top-performing funds at Hermes - an EU, Japan and UK-focused fund – join RWC alongside all their support staff. The move will boost RWC’s investment headcount by 12 and significantly boosts its $4.1 billion in assets under management.
Maarten Wildschut and Petteri Soininen from the European Focus fund will join on 1 October. The pair have generated returns of 111.5% since 2009, outperforming the FTSE World Series Europe TR Index’s 51% return.
Also joining the global fund house are Paul Harrison, Nigel Davies and Phil Harris from Hermes’ Specialist UK Focus fund, which has achieved 73.5% since 2009 compared to 51.1% in a composite FTSE 250 and FTSE Small Cap index.
These five will be joined by the team running Hermes’ Japan Stewardship fund; Corinna Arnold and Michael Connors. This fund has made 5.9% over three years.
The heads of each investment team will become partners at RWC. Hermes said the teams in question manage a combined $800 million for a range of institutional clients.
‘We have been extremely fortunate to have attracted some of the most respected investors in the active investment sector,’ said RWC Partners chief investment officer Peter Harrison. ‘Our single aim is to continue to provide our investors with unconstrained, active investment funds, designed by the portfolio managers to take maximum advantage of the opportunities they see.’
He said the teams in question were chosen as they fully subscribe to the concept of active management, have long track records and are highly respected. He said RWC would continue to allow the managers freedom to execute their plans independently.
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