UK fund manager River and Mercantile is to market its Global Recovery Fund in Europe, saying it had seen growing demand from investors outside the UK.
The firm has created an Ireland-domiciled fund, structured as an Icav, that will be marketed to investors in Ireland, the Channel Islands and the Isle of Man.
River and Mercantile said it had strengthened is wholesale distribution team in the past year, adding sales directors Nick Pearse and Martin Canavan from Jupiter Asset Management.
The UK fund has is based on a strategy that has £418 million assets under management and the equivalent fund – ES R&M Global Recovery Fund – 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, said the firm.
Sergeant said various factors were at play behind the wider distribution of the fund, including recovering consumer demand, entry into a reflationary phase, green government commitments, and larger fiscal and monetary stimulus packages.
River and Mercantile floted in 2014 and has offices in Australia and the US. It manages around £45 billion.
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