T. Rowe Price to launch Oeic range

Group plans oeic version of $163m Continental European Equity sicav.

EU-Europe-Flags-Euro-700x450.jpgT. Rowe Price is launching a range of Oeics for UK retail investors.

John Yule, head of UK intermediary relationship management for UK and Ireland at T. Rowe Price, says the manager is in the early stages of talking to intermediaries about the proposition, but adds it will be looking at mandates that don’t crossover with its 35-strong Sicav range.

However, the group plans to launch an Oeic version of the $163m Continental European Equity fund, a Sicav run by Dean Tenerelli, in the first half of 2016. Any launch is subject to regulatory approval.

“Dean is a fantastic manager and it would be silly not to launch an Oeic in the first half of next year,” Yule says.

“We are talking to intermediaries about where the gaps are. A lot of professional buyers would like a packaged solution covering different investment styles, such as growth, value and all caps.”

He adds: “The platforms’ first choice of vehicle is an Oeic. With Sicavs there is extra admin.”

Over one year the Continental European Equity fund is up 9.8 per cent against the 9.5 per cent of the Equity Europe ex UK sector average, FE Data shows.