Fact sheet: RWC US Absolute Alpha

Fund information
Fund name
RWC US Absolute Alpha R Acc
Fund manager company
RWC
Fund type
Offshore Fund
Fund managers
  • Mike Corcellsince 24/09/2009
  • Alex Robartssince 24/09/2009
Fund objective
To provide a positive absolute return in a variety of market environments over a 36 month period in excess of the return on short-term instruments, through a long / short equity strategy, using derivative strategies where appropriate, to gain exposure primarily to US equity securities.
Benchmark
  • 1 month USD LIBOR
Investment style
Absolute Return,Long/Short
Investment method
Equity
Quick stats
1 Year return
-4.6%
1 Year rank in sector
-
Sector
FO Hedge/Stru Prod - Equity
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.37%
Fund size
£427m (£483m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
40
Top in this sector
Fund name1 Year
Majedie Tortoise28.4%
MontLake ToscaMiCaUCITS27.8%
DNB ECO Abs Rt25.9%
Stratton Street Japan Syn Warrant21%
Income Partners AllSeasnAsCred19.5%
...more in FO Hedge/Stru Prod - Equity

Performance snapshot

Holdings snapshot

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund1.5%-0.4%-1.7%-4.6%--
Sector0.6%-0.1%0.5%-2.2%3.5%14.6%
Rank within sector------
Quartile
Calendar performance
 YTD - 20162015201420132012
Fund-3.8%5.2%---
Sector-1.9%2.7%2.5%7.1%3.9%
Rank within sector-----
Quartile
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
-
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
-
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
-
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
-
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
-
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
-
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
-
Price movement
52 week high136.42
52 week low126.39
Current bid price-
Current offer price-
Current mid price129.72
Region
No data available.
Industry sector
No data available.
Asset type
No data available.
Individual holdings
No data available.
Management
Fund manager group
RWC
Fund manager company
RWC
Fund type
Offshore Fund
Fund objective
To provide a positive absolute return in a variety of market environments over a 36 month period in excess of the return on short-term instruments, through a long / short equity strategy, using derivative strategies where appropriate, to gain exposure primarily to US equity securities.
Benchmark
  • 1 month USD LIBOR
Investment style
Absolute Return,Long/Short
Investment method
Equity
Fund managers
NameSinceBiography
Mike Corcell24/09/2009Mike has 13 years' experience in US equity fund management and a highly successful track record in US equity long short investment. He worked as an Analyst for Mike Karsch at Karsch Capital in 2002 before joining Threadneedle Investments in 2003 to launch and manage the US Long/Short Strategy “American Crescendo” based in London. Mike’s disciplined approach to fundamental analysis and stock picking saw the Fund generate strong risk/adjusted performance over the 5 years under his sole management. The Fund grew to over $700m, was runner up in Eurohedge Global Fund of the Year in 2007 and was in 2008 featured in Barron’s “World’s 75 Best Hedge Funds” for the trailing 3 year period having generated an annualised return of 19.1% (net) and a Sharpe Ratio of 1.9 through the period. Following Threadneedle, he joined SAC to manage a very significant US equity long/short book for Steve Cohen based in London. Mike graduated from Colgate University in New York. At RWC, Mike has established the US Absolute Alpha Team with the same approach and responsibilities that he successfully adopted in the past. To this end Mike has 3 experienced dedicated equity research Analysts to work with him on the Fund together with a dedicated dealer.
Alex Robarts24/09/2009Alex joined RWC in September 2009 from Threadneedle Investments where he worked with Mike Corcell from 2005 as an Analyst in the US Equity Team. Previously, Alex worked as an Analyst in US, Canadian, Japan and Asia Pacific markets for Insight and Rothschild Asset Management. He started his career at Morley Fund Management in 1997. Alex holds a MA Hons from Edinburgh University.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, IA Recognised, Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Switzerland, Germany, United Kingdom, Italy, Luxembourg, Offshore, Singapore, Sweden
RWC US Absolute Alpha A EUR
Initial charge5%
Annual charge2%
Min single investment£25,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)2.4%
Total expense ratio (TER)2.41%
Bid price-
Offer price-
Mid price124.4486
CurrencyEUR
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeGPA0
RWC US Absolute Alpha A GBP
Initial charge5%
Annual charge2%
Min single investment£25,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)2.42%
Total expense ratio (TER)2.38%
Bid price-
Offer price-
Mid price128.2559
CurrencyGBP
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeGPA2
RWC US Absolute Alpha A USD
Initial charge5%
Annual charge2%
Min single investment£25,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)2.41%
Total expense ratio (TER)2.39%
Bid price-
Offer price-
Mid price126.813
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeGPA1
RWC US Absolute Alpha B EUR
Initial charge5%
Annual charge1%
Min single investment£25,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)1.31%
Total expense ratio (TER)1.74%
Bid price-
Offer price-
Mid price132.8977
CurrencyEUR
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeGPA3
RWC US Absolute Alpha B GBP
Initial charge5%
Annual charge1%
Min single investment£10,000,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)1.31%
Total expense ratio (TER)1.46%
Bid price-
Offer price-
Mid price136.4046
CurrencyGBP
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeGPA5
RWC US Absolute Alpha B Hedged Acc CHF
Initial charge5%
Annual charge1%
Min single investment£10,000,000
Min regular saving£5,000
Available in ISANo
Ongoing charge (OCF)1.33%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price95.7632
CurrencyCHF
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeE4GD
RWC US Absolute Alpha B USD
Initial charge5%
Annual charge1%
Min single investment£10,000,000
Min regular saving£5,000
Available in ISAYes
Ongoing charge (OCF)1.31%
Total expense ratio (TER)1.64%
Bid price-
Offer price-
Mid price135.7749
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeGPA4
RWC US Absolute Alpha R Acc
Initial charge5%
Annual charge1%
Min single investment£25,000
Min regular saving£5,000
Available in ISANo
Ongoing charge (OCF)1.37%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price129.7185
CurrencyGBP
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMF8H
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