RV Capital Asia Opportunity UCITS

RV Capital Management is a discretionary Asian macro credit manager headquartered in Singapore. The firm was founded in 2011 by Ronnie Roy and Vickram Mangalgiri and currently run $1.3bn in AUM (single strategy shop). The strategy was originally launched in 2012, with the UCITS (run largely pari-passu) launched in 2016. The investment team consists of 18 members, 12 in portfolio management and 6 in research. The portfolio is run in a collaborative manner, with the team seeking to take advantage of its in-depth knowledge of the Asian FICC markets to generate alpha through longs and shorts in multiple asset classes (Rates, Fixed Income and FX). The fund utilises a thematic approach focusing on a combination of macroeconomic analysis, social-political analysis and comparisons across regions (13 Asian economies) to look for large ‘value’ dislocation that can be repaired over the medium to long-term due to fundamental factors and catalysts. This process typically results in 10-15 uncorrelated core themes with a target horizon of 6-12 months. These themes are implemented in a diversified manner (first line of defence when it comes to risk management) and in an asset agnostic fashion, with a core focus on identifying the most compelling risk-reward opportunities. Each PMs is allocated capital subject to strict theme limits (10% cap). Stop losses are applied at the theme level (1% loss at the portfolio level). The final portfolio typically comprises 10-15 themes each expressed through 3-4 risk line items.