River and Mercantile expands business outside UK with UCITS fund launch
River and Mercantile (“R&M”) today announces the launch of a UCITS-compliant ICAV version of its Global Recovery Fund to meet growing demand for the strategy from investors outside the UK. The fund is domiciled in Ireland and R&M intends to market the strategy to specific professional investors in Ireland, the Channel Isles and the Isle of Man. The fund will be available with Euro, Sterling and US Dollar unit classes.
The River and Mercantile Global Recovery Fund is based on the same strategy as the existing £418 million UK domiciled ICVC version, the ES R&M Global Recovery Fund, which was launched in 2013. Managed by Hugh Sergeant, the fund invests in companies around the world which are in the recovery stage of their life cycle with a strong potential to create value. Sergeant uses R&M’s PVT (Potential, Valuation, Timing) investment process to select companies for the portfolio; the process seeks to identify companies with potential to deliver returns, at attractive valuations, and at the right time.
R&M has actively strengthened the Wholesale Distribution team, led by Simon Smith, in the last year, with experienced sales directors Nick Pearse and Martin Canavan both joining from Jupiter to help establish the R&M business in Ireland, the Channel Isles and the Isle of Man.
Simon Smith, Head of UK Wholesale at River and Mercantile, said:
“Launching an offshore version of our successful Global Recovery strategy is a natural extension to our product range. It gives professional investors based in the Channel Islands, the Isle of Man and Ireland the opportunity to access a specialist portfolio of value and recovery biased companies managed by one of the most experienced and highly regarded managers in Hugh Sergeant.
“The ICAV fund is being launched in response to strong interest from non-UK investors to access the Global Recovery strategy”.
Hugh Sergeant, Manager of the River and Mercantile Global Recovery Fund, added:
“It’s an exciting time to be extending our Recovery fund range to be available to a wider set of investors. Various factors are at play which support global growth and benefit recovery, including recovering consumer demand, entry into a reflationary phase, green government commitments, and larger fiscal and monetary stimulus packages.”
For further information, please contact:
+44 7885 654 636
This release constitutes a financial promotion and has been issued and approved by River and Mercantile Asset Management LLP which is authorised and regulated in the United Kingdom by the Financial Conduct Authority and is a subsidiary of River and Mercantile Group PLC (registered in England and Wales No. 04035248).
The value of investments and any income generated may go down as well as up and is not guaranteed. An investor may not get back the amount originally invested. Past performance is not a guide to future performance. Changes in exchange rates may have an adverse effect on the value, price or income of investments.
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