Global Convertible Bonds
Recommended minimum investment horizon
Igor de Maack graduated from HEC Paris School of Management and is a qualified member of the French financial analysts' association (SFAF) and also holds a postgraduate specialist diploma in International Taxation.
He began his career at Deloitte & Touche. In 1998, he joined the Project Financing department at BNP Paribas. In 2002, he moved to IXIS where he headed the group’s participation in the financing project for the A 28 motorway, then joined the equity research team at Ixis Securities and became senior Vice President of primary equity markets at Lazard-lxis.
He joined DNCA Finance in 2007 as an infrastructures portfolio manager.
Félix Haron is a CFA charterholder, holds graduate of ESC Toulouse and holds a postgraduate specialist master's degree in Financial Engineering from Paris IX Dauphine University.
He began his career at BNP Paribas, as a convertible bond specialist. After a variety of experiences in trading and asset management, Félix joined the convertible management team of BNP Paribas Asset Management.
He joined DNCA Finance in September 2013.
For legal reasons, we can not post the performance of the sub-fund
The Sub-Fund seeks to provide capital appreciation with low volatility (annual average volatility around 7% in normal market conditions) by investing in global convertible bonds. Investors’ attention is drawn to the fact that the management style is discretionary. The portfolio composition will not attempt to replicate the composition of a benchmark index from a geographical or sectorial perspective. Even so, the UBS Thomson Reuters Global Focus Vanilla Hedged (Eur) CB Index (Bloomberg ticker: UCBIFX19 Index) may be used as ex-post benchmark indicator.
The investment process is made of the combination of a global bond approach and bond-picking policy. It aims to create a portfolio with a lower volatility than an underlying equity investment based on a fundamental approach and a qualitative analysis of each issuer.
Convertible, exchangeable or mandatory redeemable bonds denominated in any other currency than Euro: from 50% (minimum) to 100% (maximum) of its total assets,
- Convertible bonds rated “investment grade” or whose issuer is rated “investment grade”: at least 30% of its assets invested in convertible, exchangeable or mandatory redeemable bonds,
- Money-market instruments in adverse market conditions: from 0% to 50% of its total assets in adverse market conditions and from 0% to 25 in case of normal market conditions.
All investors, in particular investors who are willing to increase their savings with an indirect exposure mainly to global bonds (such as convertible, exchangeable or mandatory redeemable bonds).
Pricing : Daily
Fund Legal Type : SICAV mutual fund governed by Luxembourg law
Country Of Domicile : LU
Min Subscription Amount :
Min Subscription Shares :
Subscription Fees : 3% max
Performance fee : 15% of the positive performance net of any fees above UBS Thomson Reuters Global Focus Vanilla Hedged (Eur) CB Index – BBG with High Water Mark
The above information is not a confirmation of any transaction and does not comprise investment advice. Past performances are not a reliable indicator of future performances. Management fees are included in performances. Access to products and services presented may be restricted regarding certain persons or countries. Tax treatment depends on the individual situation of each investor. For full information regarding strategies and fees, please refer to the prospectus, KIID documents and other regulatory information available on this website or free of charge on demand from the investment management company’s registered offices.