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“Convertible bonds are an all-weather investment, offering investors the security of bonds and the opportunities of equities in a single product.”

Marc-Alexander Knieß
Portfoliomanager Global Convertibles Bonds

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"Avoiding loan defaults makes a relevant contribution to returns. We have not had a single default in the past 20 years."

Stefan Schauer
Portfoliomanager Global Convertible Bonds

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"The niche segment of convertible bonds enables successful investment strategies with a focus on sustainability as well."

Manuel Zell
Portfoliomanager Global Convertible Bonds

GLOBAL CONVERTIBLE BONDS

Diverse Alpha sources and limited risk

Convertible bonds are hybrid securities. They combine the strengths of two asset classes and are essentially bonds with an equity call option. They are debentures with a fixed interest rate that can be converted into equities within a specified period at a pre-set rate. One key feature of convertible bonds is that they are more reactive to rising share prices than to negative trends. This asymmetric risk/return profile (convexity) offers investors the opportunity to participate in upside potential on the equity markets while limiting possible losses due to its bond-like nature. 

They offer investors multiple alpha sources. The various performance drivers include price trends in the underlying equity, the coupon and the credit spread (difference in yield compared to a risk-free bond with the same maturity) and structural features such as contractual safeguard clauses against capital dilution or takeover. Alongside an investment in blue chips, they also provide access to smaller and medium-sized companies that are under-represented in the bond market and thus offer additional diversification. 

OUR KEY FIGURES
2

Strategies

... for global convertible bonds, the sustainability variant awarded the FNG seal

0

Defaults

... in all the convertible bond portfolios that the team has managed to date

400+

Mio EUR volume under managment

... in institutional accounts and in mutual funds

Interest-bearing securities with equity opportunities

Advantages for investors

Combination of equity potential and bond stability with attractive interest coupons

Global market with great diversity of companies and industries

 

Convex participation in the equity markets - more upside opportunity than downside risk

 

This is what investors can rely on at Lupus alpha

Convertible bonds only:

No investment in synthetic securities or off-type risks

Active management:

Managing equity sensitivity in the overall portfolio

Focus:

On high-growth underlying stocks with good bond quality.

Clean slate:

Team has never had a loan default in its portfolios

Team approach:

Close integration of portfolio management and research

Sustainability:

Strategy variant with ESG criteria and SDG contribution

Convertible Bonds Fund data
WKN: A2H7DG | ISIN: LU1717012527
93.79 EUR
NAV
-0.26 %
T-1
-0.47 %
YTD
-3.68 %
5 Years
More information
WKN: A2DJR6 | ISIN: LU1535992389
104 EUR
NAV
-0.26 %
T-1
-0.13 %
YTD
-0.68 %
5 Years
More information
WKN: A2DTNQ | ISIN: DE000A2DTNQ7
95.66 EUR
NAV
-0.23 %
T-1
-0.18 %
YTD
+4.68 %
5 Years
More information
WKN: A2DTNW | ISIN: DE000A2DTNW5
84.01 EUR
NAV
-0.23 %
T-1
-0.53 %
YTD
n.a.
5 Years
More information