RWC continues retail push with Pan-European launch

Boutique manager RWC Partners is to launch a Ucits III pan-European equity fund next month as the group continues its push into the retail market.

RWC Europe Absolute Alpha will be run by hedge fund manager Ajay Gambhir. The Luxembourg-domiciled vehicle will target a return of 10% to 15% annually. It will mirror RWC's Samsara hedge fund, which Gambhir has managed since launch in 2007. The fund took in $800m (£541m), reaching capacity in its first month. About half of Samsara's gross exposure is in firms with a market cap of more than $5bn, with a further 32% in companies between $1.5bn and $5bn. Gambhir favours pharma, biotech, banks and tech firms but is less positive on support services and healthcare equipment. The fund...