The new Luxembourg-domiciled Sicav will be launched at the end of July and follows the launch in October last year of the firm’s US Absolute Alpha Fund run by Mike Corcell. RWC Partners already runs the RWC Advance Absolute Alpha and RWC Global Convertibles funds.
Gambhir has been running European long/short since 2003, with RWC since 2007 and JP Morgan Asset Management before that where he ran $6bn in the high alpha European Dynamic funds.
The RWC Europe Absolute Alpha Fund targets at least 10% to 15% per year, with daily liquidity and share classes with local registrations in a number of European countries.
Commenting on the launch, Peter Harrison, chief executive at RWC Partners, said: “Ucits III absolute return funds are generating a huge amount of investor interest but most of them do not yet have long track records. Ajay has been managing long/short equity funds for seven years, and through protracted bull and bear phases his approach has shone out."
In May, the firm announced Nick Purves and Ian Lance are to join in August 2010 from Schroders to launch a range of income funds.
