RWC Partners to launch first UK OEIC for Nick Purves and Ian Lance
RWC Partners has announced that Nick Purves and Ian Lance’s new fund, the TM RWC UK Equity Income Fund, will be structured as a UK OEIC. Launching in early October, this is the first UCITS fund that RWC has chosen to domicile in the UK rather than Luxembourg.
RWC will be partnering with ACD Tutman to launch the funds, with Tutman providing responsibility for the oversight and administration of the fund.
Dan Mannix, CEO, RWC Partners, commented: “We have spent the last six months in extended discussions with a number of UK clients who will be early investors in the new fund. Given that it will invest predominantly in UK equities and that the vast majority of interest has come from UK investors, we have decided to locate the fund in the UK.
“The decision to partner with Tutman was made after careful evaluation of UK ACD providers. We believe that Tutman’s strong oversight and governance model is best suited to meet our clients’ high standards.
“We remain totally committed to our Luxembourg SICAV which has been the core of our European mutual fund offering for over a decade and we don’t foresee Brexit having any impact on our UK clients’ ability to invest in these funds. However, for a fund that is only going to be sold into the UK market there is a great deal of logic in domiciling it in the UK.”
David Tyerman, CEO, Tutman, commented: “We are excited by the chance to work with RWC in building its UK fund range and are pleased that RWC recognises the value of the robust oversight and strong governance that Tutman provides for high quality and experienced fund professionals.”