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Convertible bonds

Convertible bonds

Our convertible bond solutions are designed to leverage on the attractive asymmetric risk/return profile of convertible bonds, by allowing meaningful participation in equity markets’ rise and effective downside risk mitigation, while taking advantage of the asset class’ richness and diversity.


Since its launch in 1999, our convertible bond management expertise has grown consistently. Today, we have a broad offering of European and global convertible bond strategies that reflects the wide variety in the asset class. Convexity is the key feature that is always at the core of our investment approach. With a team of 10 dedicated professionals, UBP is a major player in the convertible bond space.

Opportunities

  • An all-weather asset class that adapts to different market conditions, combining bond and equity features
  • Convexity offering an asymmetric risk/return profile over the long term
  • Access to a long-term call option to benefit from the upside potential of the underlying equity
  • The benefits of a firm bond-floor to mitigate equity volatility and downside risk
  • Significantly reduced interest rate sensitivity vs. similar straight bond investments
  • Equity upside potential at a much lower regulatory cost thanks to convexity

Investment philosophy & process

  • Our convertible bond strategies are managed using a unique and dedicated process, built on the following key pillars:
  • Bottom-up security selection focused on convexity
  • In-depth fundamental analysis of the underlying equity as a performance-driver
  • Close attention paid to credit quality
  • Long-term management aiming at generating value in different market cycles
  • Discretionary management of the portfolios’ exposures (equity, interest rate)

Our range of strategies has been designed to leverage on the richness and diversity of convertible bonds both in the European and global spaces, through:

  • Defensive convertible strategies (with a defensive equity-sensitivity profile)
  • Core convertible strategies (with a dynamic equity-sensitivity profile)
Funds

Our Convertible Bond range offering

  • Convertibles Europe
  • Convertibles Global
Our Range Offering
Investment Manager

Marc Basselier

Marc Basselier joined UBP as Head of Convertible Bonds in December 2018. Before that he headed up AXA IM’s global and European convertible bond strategies team for over fifteen years.

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Institutional clients

With a team of more than 200 people, UBP Asset Management has built an on-the-ground presence in the world’s major markets through organic growth and selected partnerships.

Our fund range

Funds

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Insight 13.03.2019

Key questions from the road

Spotlight - Having spent the first two months of 2019 travelling to see clients across Asia, the Middle East and Europe concern among clients remains and is surprisingly consistent across regions of the world despite one of the strongest rallies in global equities to start a year in the past 30 years. We address the three most asked questions.