Basile doubles US holdings on RWC Global Convertibles

RWC Partners has made significant changes to its Global Convertibles fund since the departure of former managers Miles Geldard and Lee Manzi.

Both managers left to join Jupiter, where they are involved in setting up a new convertibles desk. This year their successor Davide Basile has more than doubled the $900m (£619m) fund's exposure to US markets, at the expense of European holdings. Daniel Mannix, RWC's head of business development, says: "At the end of last year, the 
fund only had 18% of its assets in the US. Early this year Davide increased the weighting to over 40%. "It has proved to be a great call as both US equity and credit markets significantly outperformed the European equivalents." Basile had foreseen in...