French boutique DNCA Investments has launched the DNCA Invest Global Convertible Bond Fund on 2 March 2017, InvestmentEurope has learned.
The fund, part of the Luxembourg Sicav DNCA Invest, is co-managed by Igor De Maack and Félix Haron, who both already manage the DNCA Invest Convertibles fund launched in December 2008.
It seeks to provide returns with low volatility by investing in global convertible bonds. A discretionary management style will be applied to the fund.
The investment process combines a global bond approach and bond-picking policy.
Convertible, exchangeable or mandatory redeemable bonds denominated in any other currency than euro will form between 50% and 100% of the fund’s total assets.
At least 30% of the fund’s assets will be invested in convertible bonds rated “investment grade” while exposure to money market instruments will go from 0% to 50% of its total assets in adverse market conditions and from 0% to 25% in case of normal market conditions.
DNCA Investments has over €20bn of assets under management.