All-Cap Convertibles

The objective of the All-Cap Convertibles - strategy is to deliver long-term outperformance of the asset class European convertible bonds.

As far back as in the 1980s, it became clear that, in the USA, many medium-sized companies were issuing convertible bonds at very attractive terms which subsequently delivered impressive performance. For several years a similar trend has been taking place in Europe.


The strong growth of the European market for convertible bonds of medium-sized enterprises is opening up many opportunities for risk-adjusted participation in a fast-growing and dynamic sector.

The All-Cap Convertibles - strategy is focused on adding convertible bonds of medium-sized enterprises to large caps, while still ensuring an average investment-grade rating.

Mid cap companies frequently achieve strong growth, are placed in interesting market niches, and attract less attention from analysts than large caps.

The addition of mid cap convertible bonds is undertaken opportunistically depending on market situation in order to be able to profit from the advantages of CONVERTINVEST's successful analytical process.

Since its launch in March 2008, the strategy of the All-Cap Convertibles Fund has significantly outperformed convertible bond indexes and is one of the top performers in the sector of European convertible bonds. The investment strategy’s success has been confirmed by international awards. (to the awards...)

 

Investors in the “ALL-CAP Convertible Strategy” strive to outperform the European convertible bond market (EXANE ECI Euro Index) with better credit quality (investment grade average) and market matching volatility.