Launch of PF(LUX)-Convertible Bonds fund

JABCAP has been nominated in four categories in the forthcoming Eurohedge 2010 awards including Best Convertibles and Volatility Strategies and Management Firm of the Year.

This is the first and only UCITS III convertible bond fund managed by Philippe Jabre. Denominated in EUR (Hedged share classes available in CHF and USD), it will invest globally with a non-benchmark approach. 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 aims to provide equity-like returns with lower volatility over a full economic cycle.

Convertible bonds are hybrid instruments combining equity and debt characteristics, often highly tailored to meet issuer and investor needs.

The JABCAP team has extensive experience in convertible bond research and draws on the expertise available within the group in both equity and credit markets to generate research material and investment ideas. The idea generation process involves quantitative screens using different convertible models and proprietary spreadsheets, prospectus analysis, scenario modelling, new issue valuations and the review of internal and external fundamental research. 
 

Laurent Ramsey, CEO of Pictet Funds, commented, "Periodically we fill gaps in our product range by selecting the best managers we can find in an area where we do not have proprietary expertise, as part of our strategy to provide clients with the widest possible choice of investments". Ramsey continued, "We selected Jabre Capital Partners because of their consistent and proven investment process and excellent track record in this asset class. Philippe Jabre is one of the most savvy convertible bond managers around. Given their historic risk/return profile, we believe that convertibles present an attractive investment proposition for 2010.”