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To benefit from the opportunity offered by convertible bonds maturing in Dec .2015.
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| Investment Objective |
| To reproduce the risk profile of a single balanced convertible bond with a December 31st, 2015 maturity. To outperform such a reference using active diversification in terms of credit and equity exposure (delta). |
| Investment Strategy |
Selection of convertible bonds maturing before January 1st, 2016, while preserving a positive net present value yield at the portfolio’s maturity.
To actively trade off convertible bonds with an equity profile for more balanced-style convertible bonds. By doing so, to impact positively the net present value yield at the portfolio’s maturity.
The credit risk analysis for each underlying stock aim for systematic protection at maturity.
Investment constraints as well as the defensive style of selected convertibles give a conservative risk profile to the portfolio itself. |
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Portfolio Managers & Advisors
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| Jean-Luc Hivert | Lara Azouri |
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| Investment Universe |
| The investment universe is made up of euro convertible bonds and euro bonds maturing before January 1st, 2016. |
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| Management Parameters |
- Performance reference: French govt bond with an October 25th, 2015 maturity
- Investment period: 3 years minimum
- Risk indicators: decreasing sensitivity from 7 to 0 |
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Performances as of 3/11/2010
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| Return Since Inception | 2010 | 2009 | 1-Year Return | 3-Year Return | 5-Year Return | 52-Week Volatility |
| LFP Convertibles 2015 | 24.93% | 0.83% | 20.93% | 21.50% | - | - | 4.79 % |
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Key Figures
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| Net Asset Value | EUR 1,249.34 |
| AUM | EUR 147,362,652.73 |
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Fund Features
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| ISIN Code | FR0010684282 |
| Category | Obligations convertibles |
| Ticker Bloomberg | LFPCNVT FP Equity |
| Currency | EUR |
| Creation date | 26/11/2008 |
| Valuation Frequency | Daily |
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