Fact sheet: LO GblConvtlBdDefDlt

Fund information

Fund name
LO Global Convertible Bond Defensive Delta (EUR) P A
Fund company manager
Lombard Odier
Fund type
SIB
Fund objective
LO Funds - Global Convertible Bond Defensive Delta is an actively managed long-only global convertible bond strategy launched in December 2014. It invests primarily in global convertible bonds with a balanced profile. The weighted average delta equity sensitivity of the sub-fund is capped at 40%. It seeks to deliver asymmetrical performance over the medium to long-term, profiting from equity market upturns while benefiting from the downside protection of a fixed income structure with a fraction of the volatility of equities. The investment approach is based on fundamental and technical research and combines ‘top-down’ economic analysis with ‘bottom-up’ stock selection. Two final hurdles include a minimum issue size of USD 150mn (for liquidity purposes) and a minimum credit rating of B- (reflecting the search for an investment grade quality for the portfolio). Currency risk is restricted to 10%, with at least 90% of the portfolio hedged.
Benchmark
-
Investment style
None
Investment method
Convertibles

Quick stats

1 Year return

1.84 %

1 Year rank in sector

64/75

Sector

FO Convertible

Yield
-
Fund size

£ 99.9 m

FE Risk score

25

NAV
-
Discount/Premium
-
Gearing
-

Top in sector

Holdings snapshot

  • Europe
    47.1%
  • Asia
    20.7%
  • USA
    17%
  • Japan
    9%
  • Money Market
    5.1%
  • BBB
    50%
  • A
    25.1%
  • BB
    14.1%
  • Money Market
    5.1%
  • B
    4%
  • European Fixed Interest
    47.1%
  • Asia Pacific Fixed Interest
    20.7%
  • US Fixed Interest
    17%
  • Japanese Fixed Interest
    9%
  • Money Market
    5.1%

Performance vs. Sector

Cumulative performance

1m6m1y3y5y
Fund-0.6 %1.4 %1.84 %0 %0 %
Sector-0.78 %1.58 %4.41 %6.99 %26.43 %
Rank within sector28 / 7744 / 7664 / 75 / /
Quartile th2 nd3 rd4 th th th

Calendar performance

YTD-20172016201520142013
Fund2.12 %-0.22 %3.17 %0 %0 %
Sector3.35 %0.75 %2.92 %2.27 %11.66 %
Rank within sector53 / 7647 / 7426 / 69 / /
Quartile th3 rd3 rd2 nd th th

Price movement

52 week high10.6503
52 week low10.1774
Current bid price0
Current offer price0
Current mid price10.5146

Holdings by region

  • 47.1% Europe
  • 20.7% Asia
  • 17% USA
  • 9% Japan
  • 5.1% Money Market
  • 1.1% Others

Holdings by sector

  • 50% BBB
  • 25.1% A
  • 14.1% BB
  • 5.1% Money Market
  • 4% B
  • 1.3% Non-Rated
  • 0.4% AA

Holdings by asset type

  • 47.1% European Fixed Interest
  • 20.7% Asia Pacific Fixed Interest
  • 17% US Fixed Interest
  • 9% Japanese Fixed Interest
  • 5.1% Money Market
  • 1.1% Global Fixed Interest

Individual holdings

  • 3.1% AMXLMM 0 05/28/20
  • 2.6% SHFSJ 1 1/4 10/21/23
  • 2.2% CMWAU 2 02/04/20
  • 2.2% COFBBB 0.1875 09/15/21
  • 2.2% STM 0 07/03/22
  • 2.1% SHIZUOKA BANK 0% CNV BDS 25/04/18()USD100000
  • 2% IAGLN 0 1/4 11/17/20
  • 2% PCLN 0.9 09/15/21
  • 1.8% YANGTZ 0 11/09/21
  • 1.5% IBESM 0 11/11/22