The CONVERTINVEST International Convertibles fund's strategy is geared to earning the maximum long-term capital returns. To achieve this the fund predominantly invests in global convertible bonds, focussing on long-term fundamentals-orientated investment decisions. 85% of the fund assets will be invested in securities with an Investment Grade Rating or securities of equivalent quality.
On the basis of a macro-economic picture fund management decides on the fund’s geographical and sectoral positioning. It is the basis for selection of individual securities and a primary part of the investment process. Profiling and valuation of the convertible bond, as well as the underlying share’s attractiveness, are an important decision-making criterion when selecting individual convertible bonds.
The fund managers are prepared to relinquish short-term performance in order to reduce long-term risks. At any time the portfolio will therefore be geographically and sectorally diversified within the given market conditions.
The majority of foreign currency positions are hedged against exchange rate fluctuations.
Investors in the "GLOBAL CONVERTIBLE BONDS strategy" endeavour to outperform long term the global convertible bond market (Thomson Reuters Global Focus IG Euro Hedged Convertible Index).