1. Investment expertise
  2. Convertible bonds
Investment expertise

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 9 dedicated professionals, UBP is a major player in the convertible bond space.


  • 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.


Our Convertible Bond offer

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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Marc Basselier

Convertible bonds add valuable convexity to your portfolio

Convertible bonds add valuable convexity to your portfolio



Listen to our latest flash update podcast on Convertible bonds.

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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.

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Insight 24.11.2020

Hidden gems in Swiss & European small caps

Small and mid caps have traditionally recorded higher growth rates and investment returns over the long term than large caps: it is easier to generate a dynamic growth rate from a smaller base. Swiss and European small and medium-sized capitalisations – so-called ‘SMID caps’ – also tend to provide investors with ‘pure play’ exposure to major secular growth trends.