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RWC launched Japan Focus Fund

01 April 2015

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Investment manager RWC Partners has launched RWC Nissay Japan Focus Fund, which has day one investors totaling approximately $40m with a significant pipeline.

The fund will be a sub-fund of its Luxembourg SICAV, operating as a long-only Japan equity fund focused on bottom-up stock picking and constructive engagement with its investee companies.

James Tollemache from RWC, said: "With the launch of this new fund, we are able to give investors exposure to established engagement expertise in Japan within a UCITS structure and there is a supportive backdrop to the launch of the fund."

Tollemache said the fund's launch follows changes in Japan, known as the "third arrow" reforms.

As part of new initiatives, a Stewardship Code has been launched for big investors and a corporate governance code is expected soon, he added.

"We believe that a 'constructive engagement' approach is the only kind of shareholder engagement which can succeed in Japan, and the team's outstanding success over the years is demonstrated in the outperformance.

"Given the changing environment and the unique and deep rooted relationship Nissay Asset Management has with the Japanese corporates, we feel we offer something truly differentiated," said Tollemache.

The fund will further expand RWC's joint venture with Tokyo-based Nissay Asset Management (NAM) and will closely replicate an existing Japanese fund that was launched in 2005.

That fund recently marked its 10-year anniversary and has generated exceptional performance of 34% over the TOPIX since inception.

RWC also confirms the newly launched fund will be registered in the major European jurisdictions with the appropriate tax requirements.

First published 01.04.2015

Lindsay.sharman@wilmingtonplc.co.uk