RWC adds DFM share class to Convertible Bond fund

RWC is adding a distribution share class to its Global Convertibles fund in response to demand from UK discretionary fund managers (DFMs).

Fund manager Davide Basile has just completed three years on the fund, which has $1.2bn in assets under management. He also runs the RWC Asia Convertibles fund, which launched in June 2011. Dan Mannix (pictured), head of business development, said: "In recent years, UK DFMs have really embraced convertible bonds as part of balanced portfolios. As the need for income has become paramount in investor's minds, we are launching a distributing share class to meet this demand." Basile said convertible bonds are a sensible asset to own in the current market environment, because they offer su...