Convertible bonds

Over the past 20 years, UBP has developed a broad offering of European, global and responsible convertible bond strategies in order to grant investors access to the richness and diversity offered by the asset class. 
For all our strategies, convertible bonds’ convexity is the key feature that is always at the core of our investment approach. With a team of nine dedicated professionals, UBP is a major player in the convertible bond space.

Opportunities

• An all-weather asset class to navigate through different market conditions
• A unique combination of bond- and equity-like features, allowing for an asymmetric risk–return profile over the long run
• An attractive way to invest in superior growth stocks with reduced volatility
• Significantly reduced interest rate sensitivity vs. similar straight bond investments
• An equity exposure at a much lower regulatory cost thanks to the mechanism of convexity

Investment philosophy & process

Our convertible bond strategies are managed using a unique and dedicated bottom-up process, built on the following key pillars:

• In-depth fundamental analysis of the underlying equity as a performance-driver
• Close attention paid to credit quality to maximise downside mitigation potential
• Long-term management to generate value in different market cycles