Update: RWC Partners launches global equity income fund under Nick Clay

Global high-conviction vehicle

RWC Partners has launched a global equity income fund under Nick Clay and his team, with the firm adamant that the coronavirus pandemic has not been "the final nail in the coffin for income investing".

The TM RWC Global Equity Income fund has initially been launched as a UK OEIC structure, with a SICAV version in the pipeline, and will see Clay supported by portfolio manager Andrew MacKirdy, and analysts Robert Canepa-Anson and Colin Rutter. It will adopt a similar philosophy and investment process to Clay's BNY Mellon Global Income fund, which he managed for eight years up until April 2020 and at one point grew to an AUM of £10bn with a dividend growth of 5.9% per annum over its last five years. Over Clay's tenure, the fund acheived a total return of 111.5% compared to its average ...