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UBP Asset Management (France)

UBP Asset Management (France)
Introduction

Union Bancaire Gestion Institutionnelle (France) S.A.S. (“UBP Asset Management (France)”) is an investment portfolio management company that has been registered with the French Autorité des marchés financiers (Financial Markets Authority) since 2 September 1998 (registration number 98041). UBP Asset Management (France) was created in 1998 as the French subsidiary of UBP Asset Management (Europe) S.A. and is also affiliated to the French Asset Management Association (AFG).

UBP Asset Management (France) is authorised to offer the following services and carry out the following activities:

  • Managing UCITS funds;
  • Managing alternative investment funds (AIF);
  • Managing assets through mandates;
  • Providing investment advice;
  • Marketing the Group’s collective investment funds, as well as those from external managers.

UBP Asset Management (France) today

  • UBP Asset Management (France) has been the UBP Group’s asset-management company in France since 1998.
  • It is the UBP Group’s centre of expertise for convertible bond management.
  • It handles the marketing of the UBP Group’s products and expertise in France*, in particular the Luxembourg SICAV, “UBAM”.
  • It brings together a management structure and skill set that respond to the unique requirements of French institutional investors thanks to its team of around twenty people who are dedicated to institutional asset management.
  • UBP Asset Management (France) is well established in France with around 100 institutional clients and some EUR 2.9 billion** in assets under management.

Responsible Investment at the UBP Group

The UBP Group signed up to the United Nations Principles for Responsible Investment (UNPRI) in March 2012. Since then, it has developed its Responsible Investment Policy (RI Policy) and gradually integrated environmental, social and governance (ESG) criteria into its investing. Since 1 January 2018 the UBP Group has been expanding its RI policy and strengthened its process for selecting and filtering the companies in which it invests, in particular by clarifying the ESG criteria it takes into account, the internal governance structure of its RI approach, and its investment processes (with an exclusion list, an inclusion list, and a watch list).

UBP Asset Management (France) applies the UBP Group's policy, including ESG criteria, to the portfolios it manages whilst also taking into consideration specific requirements for institutional mandates and dedicated portfolios​

Moreover, in 2012 the company launched the UBAM - SRI European Convertible Bond fund, which is managed according to strict responsible investment principles, and a global one in 2021, UBAM - Global Sustainable Convertible Bond (see the RI transparency code). We also provide investors with ESG reporting as per regulations and specifically in application of Article 173 of the French energy transition law.

Further information on Responsible Investing at UBP can be found here.

* This business may generate retrocessions on part of the fees charged by the UCITS.
** As at 31 December 2020.

Scope of application

As per the UBP Group’s internal directives, its responsible investing policy (including exclusion lists, watch lists and inclusion lists) applies to all the convertible bond strategies of the UBAM SICAV. As part of their extra-financial objectives, UBAM – SRI European Convertible Bond and UBAM – Global Sustainable Convertible Bond also apply specific exclusion and inclusion criteria, defined in their respective responsible investing transparency codes. Other collective investment schemes managed by UBP Asset Management (France) are (i) reserved funds, for which the RI policy must be approved by the investors, or (ii) funds whose management we have delegated, in which case the investment policy that applies is that of the third-party manager.

Voting policy

As per applicable regulations and UBP’s internal directives, UBP Asset Management (France) has implemented a voting policy suited to its activities. This policy stipulates the circumstances in which we intend to exercise the voting rights that come with ownership of shares in the UCITS we manage.

The report on the exercise of voting rights for funds managed by UBP Asset Management (France) is also available from the management company upon request.

The EU’s Sustainable Finance Disclosure Regulation (2019/2088)

With ambitions climate-protection and energy-transition targets, the European Union has issued the Regulation on Sustainability‐Related Disclosures in the Financial Services Sector (known as SFDR).

Sustainability risk

Sustainability risk is defined in the SFDR as “an environmental, social or governance event or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of the investment.” When providing its services and products, UBP Asset Management (France) assesses all the relevant financial risks, including sustainability risks. Click here for more details on UBP’s sustainability risk management framework.

Impact of sustainable finance regulations on remuneration

To ensure that sustainability risks and opportunities are taken into account by all its business lines, UBP’s remuneration structure discourages excessive risk-taking with respect to sustainability and is linked to risk-adjusted performance. In parallel it provides motivation for developing responsible investment and sustainable practices. In this respect, the Bank’s objective is to provide more transparency, in both qualitative or quantitative terms, on these factors and to promote sound and effective sustainability practices and sustainability risk management. The Group has therefore set a series of sustainability key performance indicators (KPIs) which aim to promote responsible investment and corporate social responsibility (CSR). The Remuneration Policy is available below.

Principal adverse impacts

Financial market participants and financial advisers are required by the SFDR to provide information on how they consider Principal Adverse Impacts (PAI) in their investment decisions and, where applicable, investment advice. PAI are defined as “any negative, material or likely to be material effects on sustainability factors that are caused, contributed by or directly linked to investment decisions and advice performed by the legal entity”. As of 2021, given the limited availability of reliable data across all asset classes to rely on to implement such requirements, UBP has decided that it will not apply PAI analysis for the time being, either at entity or at group level. UBP may reconsider its position in the future. However, UBP takes into account PAI in the management of its sustainable products (as per Articles 8 and 9 of the SFDR).

Regulatory information

Contact us

UBP Asset Management (France)
116, avenue des Champs-Elysées,
75008 Paris, France
Tel.: +33 1 75 77 80 80

Contact Us

Fraudulent Website Notification

Union Bancaire Privée, UBP SA ("UBP" or “the Bank”) would like to alert all clients and the public to fraudulent websites detected by UBP listed below. UBP would like to advise that these websites have no affiliation or connection whatsoever with the Bank.

Date of detection Fraudulent Website Address
August 20, 2021 www.ubp-wm[.]com
June 23, 2021 ubp-clientportal[.]com/login
May 17, 2021 ubponline[.]com
April 7, 2021 kaspib[.]com
February 23, 2021 https://www.ubp-hk[.]com
February 5, 2021 http://www.ubpsingapore[.]com and http://www.ubphk[.]com
October 12, 2020 https://ubpinvestment.org/ch/
September 7, 2020 www.union-bgi.com
July 28, 2020 ub-gi.com
July 24, 2020 ubpinvest.org
June 8, 2020 westoncapitalbank.com
June 4, 2020 http://ubpinvest.com
June 3, 2020 ubpdirect.com
May 26, 2020 www.e-ubp.com


UBP has taken action deemed necessary and appropriate to protect the interests of its customers, the general public and the Bank. Any clients who have provided personal information or have conducted any financial transactions through these websites, are kindly requested to immediately report to the local Police and to contact their UBP relationship manager or Union Bancaire Privée, UBP SA at +41 58 819 21 11.

*AMF

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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.

Convertible Bonds

Convertible bonds add convexity to your portfolio

Find out why convexity works in the short-to-long term

Read more - Discover UBP

UBP in brief

Union Bancaire Privée (UBP) was founded in 1969 by Edgar de Picciotto, whose vision from the outset was to offer investors an astute and innovative wealth management service.

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Investment Expertises

Discover all our areas of expertise in investment services.

Legal Aspects

Sustainability-related Disclosures at UBP

Further information can be found here