Fact sheet: Mirabaud ConvBdGbl

Fund information
Fund name
Mirabaud Convertible Bonds Global A Cap USD
Fund manager company
Mirabaud Asset Management (Eur
Fund type
Offshore Fund
Fund managers
  • Renaud Martinsince 29/05/2013
  • Nicolas Crémieuxsince 29/08/2013
Fund objective
The objective of the fund is to achieve long-term capital growth by investing primarily in a diversified portfolio of convertible securities, globally. The fund will invest, primarily its assets in bonds, convertible into equities of companies as well as in synthetic convertible transferable securities of issuers having their registered office or carrying out the majority of their business in US, Europe and Asia, including emerging markets.
Benchmark
  • Thomson Reuters Global Focus Convertible Index
Investment style
None
Investment method
Convertibles
Quick stats
1 Year return
7.5%
1 Year rank in sector
23/72
Sector
FO Convertible
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.65%
Fund size
£97m (£121m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
38
Top in this sector
Fund name1 Year
Man Convertibles Am17%
Swisscanto (LU) Bond COCO14.4%
CQS Global Convertible UCITS12.7%
UBS (L)BCnvrtEur€11.9%
Franklin Gl Cnvtl Secrts11.2%
...more in FO Convertible

Performance snapshot

Holdings snapshot

  • Europe41.9%
    USA27.1%
    Japan19.4%
    Asia Pacific ex Japan9%
    Others2.6%
  • Consumer Discretionary17.4%
    Information Technology15.5%
    Industrials14.5%
    Health Care13.7%
    Materials11.7%
  • European Fixed Interest41.9%
    US Fixed Interest27.1%
    Japanese Fixed Interest19.4%
    Asia Pacific ex Japan Fixed Interest9%
    Global Fixed Interest2.6%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund1.4%2.5%5.4%7.5%9.8%-
Sector1.4%2.1%3.7%5.9%7.4%27.6%
Rank within sector35 / 7222 / 7215 / 7223 / 7223 / 60-
Quartile2nd2nd1st2nd2nd
Calendar performance
 YTD - 20172016201520142013
Fund3.5%1.3%3%4.3%-
Sector3.2%0.7%2.9%2.3%11.7%
Rank within sector27 / 7228 / 7135 / 6716 / 60-
Quartile2nd2nd3rd2nd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
0.8
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
1
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
-0
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
5.89
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
1.99
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.39
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.89
Price movement
52 week high120.27
52 week low107.62
Current bid price-
Current offer price-
Current mid price120.53
Region
1Europe41.9%
2USA27.1%
3Japan19.4%
4Asia Pacific ex Japan9%
5Others2.6%
Industry sector
1Consumer Discretionary17.4%
2Information Technology15.5%
3Industrials14.5%
4Health Care13.7%
5Materials11.7%
6Energy10.7%
7Financials9.9%
8Telecommunications Utilities4.1%
9Consumer Staples1.3%
Asset type
1European Fixed Interest41.9%
2US Fixed Interest27.1%
3Japanese Fixed Interest19.4%
4Asia Pacific ex Japan Fixed Interest9%
5Global Fixed Interest2.6%
Individual holdings
10% CV TERUMO 14/193.4%
21.25%CV CTRIP.COM INT.16/22 SR 144A3.4%
3TEIJIN LTD cv 0%/14-1012213.3%
41.00% CV ON SEMICONDUCTOR 16/20 SR3.2%
51.875% CV BRENNTAG (FR/RAT)15/22 SR3.2%
61.25 % CV INDRA SISTEMAS 16/23 SR S3.1%
74% CV STEINHOFF FIN.HLDG 14/21 SR3.1%
81.125% CV FRESENIUS MED 14/203%
93.875% CV INMARSAT 16/23 SR2.9%
Management
Fund manager group
Mirabaud
Fund manager company
Mirabaud Asset Management (Eur
Fund type
Offshore Fund
Fund objective
The objective of the fund is to achieve long-term capital growth by investing primarily in a diversified portfolio of convertible securities, globally. The fund will invest, primarily its assets in bonds, convertible into equities of companies as well as in synthetic convertible transferable securities of issuers having their registered office or carrying out the majority of their business in US, Europe and Asia, including emerging markets.
Benchmark
  • Thomson Reuters Global Focus Convertible Index
Investment style
None
Investment method
Convertibles
Fund managers
NameSinceBiography
Renaud Martin29/05/2013Renaud Martin works as Portfolio Manager/Analyst in the Convertible Bonds research/portfolio management team. Mr. Martin was Head of Convertibles at Crédit Agricole between 2004 and 2011, where he managed proprietary convertibles portfolios, and prior to that at LFP where he managed the LFP Capital Arbitrage Fund. Mr. Martin has more than 20 years experience in the convertible bonds and equity derivative industry. Nicolas Crémieux is Portfolio Manager/analyst in the convertible bonds team. Prior to joining Mirabaud in 2013, Mr. Crémieux was Head of convertible bonds at Dexia AM.
Nicolas Crémieux29/08/2013Mr. Nicolas Cremieux is a Senior Portfolio Manager at Mirabaud Gestion A.M. since August 19, 2013. Mr. Cremieux has expertise in fundamental analysis of credit companies, particularly in the selection of convertible bonds. He was previously a Senior Portfolio Manager at Dexia Asset Management S.A., where he specialized in convertible bonds. Mr. Cremieux had joined the firm in 2000. He is a member of the French Society of Financial Analysts. Mr. Cremieux earned a post-graduate degree in Insurance and Risk Management from the Gestion des Risques de l’Université Paris IX Dauphine in 2000. He also earned an MMS from the same institution in 1999.
Compliance
Transparent for Swiss Tax, Transparent for German Tax, Reporting Fund Status, UCITS IV Compliant, UCITS V Compliant
Domicile
No data available.
Fund for sale in
Switzerland, Germany, Spain, France, United Kingdom, Ireland, Italy, Luxembourg, Offshore
Mirabaud Convertible Bonds Global A Cap USD
Initial charge-
Annual charge1.4%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.65%
Total expense ratio (TER)1.61%
Bid price-
Offer price-
Mid price120.53
CurrencyUSD
Price updated25/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFD0X
Mirabaud Convertible Bonds Global A Dis USD
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.65%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price108.64
CurrencyUSD
Price updated25/04/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeC32V
Mirabaud Convertible Bonds Global AH CHF
Initial charge-
Annual charge1.4%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.59%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price101.19
CurrencyCHF
Price updated25/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE12C
Mirabaud Convertible Bonds Global AH EUR
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.65%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price117.6
CurrencyEUR
Price updated25/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFHAC
Mirabaud Convertible Bonds Global AH GBP
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.7%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price108.65
CurrencyGBP
Price updated25/04/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeC3KT
Mirabaud Convertible Bonds Global DH GBP
Initial charge-
Annual charge0.7%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.95%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price110.3
CurrencyGBP
Price updated25/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFJNT
Mirabaud Convertible Bonds Global I Cap USD
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.88%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price113.14
CurrencyUSD
Price updated25/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeE1TL
Mirabaud Convertible Bonds Global IH Cap EUR
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.88%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price110.95
CurrencyEUR
Price updated25/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeE1TM
Mirabaud Convertible Bonds Global IH GBP
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.87%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price107.54
CurrencyGBP
Price updated25/04/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFJ7E
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