Summary
Boussard & Gavaudan Convertible aims to provide an exposure to the European and North American Convertible bond universe. The fund aims to exploit all the different drivers of Convertible bonds, and not only Credit or Equity, but also all the other performance sources exploited usually by the Arbitrageurs with Volatility, Special situations and Primary issuance. The fund relies on more than 15 years of Boussard & Gavaudan expertise on modelisation tools, fundamental research and seasoned trading teams in Europe.
Portfolio Construction
Will depend on investment opportunities, mostly based on internal fundamental research and CB selection combined with risk management parameters.
At least 2/3 of the Fund’s net assets will be invested in convertible securities (including credit securities) or other debt securities issued by (or referencing) companies (i) domiciled or operating in Europe and North America or (ii) within groups conducting a majority of their activities in Europe and North America.
The Fund may also have exposure to other transferable securities such as, but not limited to, equities, CFDs, warrants, rights, callable asset swaps, equity options, index options, index futures, forwards, and exchange-traded funds (ETFs).
Management objectives
The investment objective of Boussard & Gavaudan Convertible is to provide capital growth over a long-term period by investing primarily in a diversified portfolio of convertible securities. The recommended investment horizon is three to five years.
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| Inception Date | 02 April 2015 |
|---|---|
| ISIN Code P-Share | LU1209144648 |
| Ticker Bloomberg | BGCOPEU LX Equity |
| Currency | EUR |
| Other available currencies | USD, GBP, CHF |
| Benchmark | FTSE Convertible Global Focus Euro hedged |
| Liquidity | Daily |
| Cut off for transactions | 10.00 am (Luxembourg) |
| Minimum subscription | 1,000 |
| PEA (Plan d'épargne en actions) | Non eligible |
| Subscription fee | Up to 3% |
| Redemption fee | None |
| Management fee | 0.80% |
| Performance fee | None |
NAV1,247.92 EUR
WTD -1.36 %
MTD -1.7 %
YTD1.11 %
| 1 Year | 3 years | 5 years |
Since inception (02/04/2015) |
|
|---|---|---|---|---|
| Boussard & Gavaudan Convertible | 8.26 % | -4.82 % | 16.38 % | 24.79 % |
| FTSE Convertible Global Focus Euro hedged | 3.13 % | -17.04 % | 5.96 % | 11.62 % |
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD(1) | ITD(2) | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -1.143 -1.505 | 1.793 0.568 | 2.216 1.688 | - | - | - | - | - | - | - | - | - | 2.859 0.726 | 26.945 14.948 |
| 2023 | 4.695 4.519 | -0.998 -2.248 | 0.865 0.128 | 0.973 -1.158 | -0.143 0.056 | 2.369 3.618 | 1.381 2.571 | -1.113 -3.071 | -2.564 -2.172 | -3.761 -3.21 | 6.283 4.299 | 4.427 4.577 | 12.59 7.642 | 23.416 14.119 |
| 2022 | -5.927 -4.138 | -3.264 -2.027 | 1.155 -0.634 | -4.145 -4.237 | -3.140 -3.784 | -6.748 -5.143 | 4.033 4.023 | -0.804 -0.721 | -5.165 -5.508 | 2.566 1.984 | 2.768 3.21 | -2.555 -1.933 | -19.886 -17.84 | 9.615 6.017 |
| 2021 | 0.673 0.253 | 1.351 3.017 | 0.222 -2.493 | 3.317 1.282 | -0.342 -0.802 | 2.575 1.422 | 1.017 -1.408 | 0.805 0.646 | -2.435 -1.516 | 3.110 1.526 | -0.888 -2.681 | 1.043 -0.902 | 10.8 -1.81 | 36.823 29.037 |
| 2020 | 0.672 1.608 | -1.632 -1.508 | -7.549 -9.087 | 6.019 6.105 | 2.053 5.295 | 1.342 2.724 | 2.523 3.451 | 4.895 2.519 | -2.319 -0.71 | -1.686 0.33 | 5.822 6.388 | 2.443 3.516 | 12.391 21.49 | 23.486 31.42 |
| 2019 | 1.845 3.616 | 0.517 2.192 | 1.231 -0.021 | 1.745 1.295 | -4.197 -3.204 | 3.206 2.413 | 1.369 0.831 | -0.200 -1.631 | 0.447 -0.029 | -0.044 0.95 | 1.402 1.404 | 0.349 2.044 | 7.754 10.11 | 9.872 8.171 |
| 2018 | 2.457 1.861 | -1.462 -1.093 | -2.029 -1.019 | 0.242 0.258 | -0.647 0.162 | -0.891 -0.448 | -1.971 -0.446 | -0.790 0.913 | -0.560 -0.166 | -1.025 -3.17 | -0.299 0.343 | -2.574 -2.677 | -9.222 -5.45 | 1.966 -1.761 |
| 2017 | -0.434 0.824 | 2.277 1.148 | 0.149 0.481 | 3.094 0.914 | 1.904 0.918 | -1.344 -0.628 | 0.515 0.631 | -1.567 -0.391 | 1.970 0.734 | 1.515 1.172 | -0.449 -0.454 | -0.545 -1.012 | 7.186 4.39 | 12.324 3.902 |
| 2016 | -2.128 -4.126 | -1.753 -1.069 | 3.069 2.663 | 1.049 0.26 | 1.566 0.599 | -1.518 -1.745 | 2.000 2.36 | 1.749 0.662 | 0.707 0.211 | -0.151 -0.197 | -0.946 -0.066 | 3.009 1.207 | 6.664 0.58 | 4.794 -0.47 |
| 2015 | - | - | - | -1.685 | 1.168 0.161 | -1.744 -2.052 | 1.284 -2.069 | -2.471 -2.35 | -1.270 -3.708 | 3.556 3.031 | 0.224 4.461 | -0.681 -1.385 | -1.753 -1.04 | -1.753 -1.04 |
(1) YTD = Aggregate return for the year to date
(2) ITD = Aggregate return from inception to date
Risk warning: Past performance is no guide to future performance. The value of holdings may fall as well as rise and investors may not get back their initial investment. Performance displayed is net of fees with income reinvested and is calculated on a NAV to NAV basis. Performance data is estimated and unaudited.
If the currency in which the past performance is displayed differs from the currency of the country in which you reside, due to exchange rate fluctuations the performance shown may increase or decrease if converted into your local currency.
Source: Bloomberg, Boussard & Gavaudan.
