Convertible bonds staged an extraordinary comeback in 2009 generating 36.34% as measured by the Merrill Lynch Global 300 Convertible Index. The convertible bond market has grown over the last 10 years to become an asset class in its own right, with an estimated market value of USD 565 billion.
Historically, convertible bonds have been an attractive investment outperforming both bonds and equities as shown in the chart below. The chart illustrates the asymmetrical risk return profile of convertible bonds, which offer a higher participation in equity market upturns than downturns.
To benefit from the opportunities available in the convertible bond market, Pictet Funds is launching on 1st February 2010 the PF(LUX)-Convertible Bonds fund in partnership with Jabre Capital Partners. Pictet has selected Philippe Jabre and his team owing to their outstanding track record, their robust and consistent investment process and their state-of-the-art operational infrastructure.
The PF(LUX)-Convertible Bonds fund aims to achieve a return equivalent to that on global equities over a full economic cycle with significantly lower volatility, while maintaining a focus on absolute returns. The fund will concentrate on large cap companies from major global liquid markets with an average exposure of 40% in North America, 40% in Europe and 20% in the rest of the world. The fund seeks broad diversification, both in terms of holdings and across regions and sectors.
Launch date: 1st February 2010
Subscription period: 18 January to 29 January at 15h00 CET
Reference currency: EUR
ISIN Code: LU0366535077 (P-Cap)
Sie finden das Dokument "Fund Mirror January 2010" und weitere Infos zum PF(LUX)-Convertible Bonds als PDF-Downloads in unserem Info-Center!
