INSIGHTS
By
John Tabb,
Chief Operating Officer
Mar 16, 2026
Modern Capital Management Company has appointed Richard de Wet as Chief Investment Officer and Portfolio Manager of The Modern Capital Tactical Income Fund (MCTDX/MCTOX), strengthening the firm’s investment leadership and institutional capabilities.
Modern Capital Appoints Richard de Wet as CIO
Modern Capital Appoints Richard de Wet as Chief Investment Officer
Veteran credit investor joins Modern Capital to lead firmwide investment strategy and oversee The Modern Capital Tactical Income Fund.
Modern Capital Management Company today announced that Richard de Wet has joined the firm as Chief Investment Officer and Portfolio Manager of The Modern Capital Tactical Income Fund (MCTDX/MCTOX), effective March 16, 2026.
In his dual role, de Wet will oversee investment strategy across the firm while leading portfolio management for The Modern Capital Tactical Income Fund, a strategy focused primarily on closed-end funds. His appointment reflects the firm’s continued commitment to strengthening investment leadership and positioning the firm for its next phase of growth.
As Chief Investment Officer, de Wet will help guide Modern Capital’s investment platform and support the development of additional institutional-grade offerings, including separately managed accounts. As Portfolio Manager of The Modern Capital Tactical Income Fund, he will oversee a strategy focused primarily on closed-end funds.
“Richard’s appointment is about more than a single fund,” said Brad Atkins, Chief Executive Officer of Modern Capital Management Company. “He brings the kind of investment leadership, product experience, and institutional perspective that can strengthen The Modern Capital Tactical Income Fund while also helping us build the next generation of investment capabilities at the firm.”
About Richard de Wet
Richard de Wet serves as Chief Investment Officer of Modern Capital. Prior to joining the firm, he was the founder and Chief Investment Officer of Constansia, an opportunistic credit investment manager.
Previously, Mr. de Wet was a Senior Portfolio Manager and Credit Sector Head at Guggenheim Partners, where he managed more than $10 billion in assets across multiple strategies, including public mutual funds (open- and closed-end) and private funds focused on high-yield bonds and leveraged loans. During his tenure, the public mutual fund strategies he managed achieved five-star Morningstar ratings, and a private credit fund under his management was recognized by Creditflux as the Best U.S. High Yield Fund in 2017.
Before joining Guggenheim, Mr. de Wet was a founding member of PIMCO’s New York trading and portfolio management team, where he worked across fixed income sectors and as an equity analyst.
Earlier in his career, he held investment banking positions at Lehman Brothers and Barclays Capital in New York during the 2008–2009 financial crisis, and prior to that worked with TCW in Los Angeles. He began his career as a credit analyst.
Mr. de Wet holds a B.B.A. in Finance and International Business from The George Washington University and an M.B.A. in Finance and Economics from Columbia Business School.
Disclosure:
© 2025 Morningstar, Inc. All rights reserved. The Morningstar Rating™ is for the Class A only; other classes may have different performance characteristics. The rating is not a recommendation to buy, sell, or hold the fund. Morningstar does not guarantee its accuracy or completeness and is not responsible for damages or losses arising from any use of this information.
Investors should consider the Fund’s investment objectives, risks, charges, and expenses before investing. The prospectus, containing this and other information about the Fund, should be read carefully before investing. The prospectus is available at the download icon below or by calling 800-711-9164. Current and future holdings are subject to change and risk.
Investments in the Fund are subject to investment risks, including the possible loss of some or all of the principal amount invested. There is no assurance that the Fund will be successful in meeting its investment objective. The Fund is subject to the following additional risks:
▪ Active Trading Risk: Active trading may result in added expenses, a lower return, and increased tax liability. Since the Fund’s advisor engages in high turnover trading strategies, the Fund will have high portfolio turnover rates.
▪ Closed-End Fund Risk: Closed-end funds (CEFs) are subject to investment advisory and other expenses, which will be indirectly paid by the Fund resulting in duplicative fees and expenses. CEFs are also subject to management risk because the advisor to the underlying CEF may be unsuccessful in meeting the fund’s investment objective.
▪ Equity Securities Risk: Equity securities are subject to changes in value, and their values may be more volatile than those of other asset classes. These changes in value may result from factors affecting individual issuers, industries, or the stock market.
More information about these risks can be found in the Fund's prospectus.
Vigilant Distributors, LLC., Member FINRA/SIPC. There is no affiliation between Modern Capital Management Co., including its principals, and Vigilant Distributors, LLC.
- No Bank Guarantee
- May Lose Value
- NOT FDIC-INSURED