The RWC Strategic Reserve fund has been renamed RWC Cautious Absolute Rate and Currency (ARC) after Peter Allwright and Stuart Frost, the former absolute return bond managers at Threadneedle, took over the portfolio today.
Allwright and Frost joined RWC a month ago, having formerly managed the Threadneedle Target Return, Target Return Core and Absolute Return Bond funds, and the Macro Crescendo fund, a hedge fund.
The managers were brought into to replace Miles Geldard, the former manager of the RWC Strategic Reserve fund, and Lee Manzi, who both left the group to join Jupiter.
Dan Mannix, the head of business development at RWC Partners, says the fund was renamed to reflect its more focused investment approach. (article continues below)
He says that under the management of Geldard, the fund was more multi-asset in style, whereas under Allwright and Frost the strategy is more focused on fixed income and currency.
Despite this change in approach, Mannix says the fund will continue with its existing return target of cash plus 3% over the market cycle.
He adds that more funds for the duo are in the pipeline.