RWC fund under review after Allwright and Frost exit

RWC managers Peter Allwright and Stuart Frost have left the company and their Cautious Absolute Rate and Currency fund has been put under review by the group.

Allwright [pictured] and Frost left the group in March by mutual consent, ahead of an IMA review of the Targeted Absolute Return sector which has now flagged their fund as a serial underperformer on a 12-month rolling basis. Following their exit the Cautious Absolute Rate & Currency fund, which has just £3m in assets and is now managed by Davide Basile and his convertible bond team, is now under strategic review. Returning just 2% in the five years to 28 June compared with a Targeted Absolute Return sector average of 22.5%, the fund has also lost 2.2% on a three-year view compared wit...