Overview

We apply a high-conviction, pure-play approach to convertible bond investing. Our strategies invest solely in convertibles, with no exposure to synthetic securities. We express conviction via high weightings to off-benchmark positions. Through proprietary research, we apply our own rating methodology so we can confidently invest in companies that don’t have an official rating by a credit agency.

We fully integrate environmental, social and governance (ESG) principles into our investment process to amplify convexity. ESG materiality is at the core of each of our convertible strategies and we look to understand what extra-financial risks and opportunities companies are facing, the potential financial impact and how they concretely respond to these risks and seize opportunities.

We manage positions actively because dispersion within markets always provides opportunities. We focus on delta so our strategies become more sensitive to equities or bonds depending on the market environment. We are unconstrained by region and sector, resulting in very high active share ratios.