RWC readies three funds for Purves and Lance

RWC Partners is poised to unveil a trio of funds for star recruits Nick Purves and Ian Lance, including a covered call strategy similar to the managers' former Schroder Income Maximiser vehicle.

The boutique is set to hire a specialist to run the fund's call writing overlay next week, before rolling out the three Luxembourg-domiciled funds in September. Purves and Lance, who quit Schroders in May, join RWC on Monday. Aside from the enhanced income product, the duo will also run a pure UK equity income fund and another more flexible mandate. This new fund will still be based around a traditional UK equity income product, but will allow the managers more flexibility to invest in their best ideas, regardless of income or geographical constraints. "We have had a number of disc...