UK-based investment manager RWC Partners has converted its Asia long/short strategy into an Ucits fund in a move to expand its Asian equities offering for UK investors.

As part of the move, the group’s existing Global Innovation Absolute Alpha fund will be renamed as RWC Asia Absolute Alpha fund, subject to regulatory approval.

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The fund will adopt a similar investment approach as the offshore RWC Asia Opportunity fund, which was launched in April 2015.

The new Ucits Sicav version will be managed by Garret Mallal, who currently runs the existing Cayman-domiciled RWC Asia Opportunity fund from RWC’s Singapore office.

The fund is a long/short pan-Asia equity approach that tactically uses currencies to hedge and to enhance investment returns further.

Additionally, Priya Kodeeswaran, who had managed the RWC Global Innovation Absolute Alpha fund since it was launched in 2010, has decided to step down from the firm.

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RWC Partners CEO Dan Mannix said: "Long/short equity strategies have seen a resurgence of demand over the last two years as investors look to UCITS as the preferred structure for these strategies.

"There remains a lack of high-quality Asia long/short funds and we feel Garret’s portfolio management approach is stand-out, so offering it to investors in a UCITS gives the opportunity for a broader range of investors to access the fund.

"The launch also comes on the back of an exciting time for RWC that has seen net flows of over USD3.2 billion in 2015 and a strong pipeline of interesting projects for 2016."