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Convertibles & crédit

Convertibles & credit

PHILOSOPHY
STRENGTHS
bespoke SOLUTIONS

HIGHLIGHTS

ELLIPSIS DISRUPTION CONVERTIBLE FUND
Investing in companies that create and pioneer change...

Discover our fund on disruptive convertibles, a real source of opportunities

It targets titles that the management team has identified as participating in a structural change in economic, social or environmental practices.

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team

HIGHLIGHTS

ELLIPSIS EUROPEAN CONVERTIBLE FUND
Our "flagship"  fund on European convertible bonds

With more than 10 years of track-record over diffrent market cycles, it embodies the Ellipsis AM convictions and core expertise.

Its demanding management process includes a high level of issuer selectivity, notably by taking into account environmental, social and governance criteria.

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Convertibles Europe

This desk specialises in high-value-added asset classes that have long been our hallmark and in which we have a recognised track-record.

CONVERTIBLES HAVE LONG BEEN IN OUR TOOLKIT

This asset class is our bedrock capability, with a recognised track-record going back to 2003. On the strength of our long-standing experience in this niche investment universe throughout various market cycles, we have mastered the CB’s universe and market parameters. We offer European & Global convertible funds, with the capacity to develop dedicated funds and mandates.

WELL-REGARDED EXPERTISE IN CORPORATE BONDS, INCLUDING HIGH YIELD

Since 2012, Ellipsis AM has developed a research and management capability in corporate bonds. It is focused mainly on high yield and informs our analyses of issuer risk and credit quality. Since 2021, this capability has been folded into the Convertibles & Credit desk.

DNA convictions / risKS
/ reSEARCH

We mainly offer active conviction-based management based on a rigorous discretionary selection processes. In doing so, we take a thorough bottom-up approach using fundamental, technical and ESG research.

AN ESG APPROACH FOCUSED ON LONG-LASTING BUSINESS MODELS  

Our approach is based on exclusion policies for ethical issuer and ESG-sensitive sectors, coal in particular. It also includes a governance-quality filter. ESG criteria are integrated and taken into account in researching controversies, as well as in selecting bonds for actively managed convertible and corporate bond portfolios.

In my view, convertible bonds are an asset class in its own right for a medium- or long-term investment horizon, halfway between equities and obligations. The diversity of the CB’s universe promotes natural convexity, in other words, their asymmetric behaviour both upward and downward in response to various market cycles.

seb photos article FR

Sébastien
CARON
CEO, Convertibles Portfolio Manager

+20  years

of expertise 

Top 5

of convertible asset management companies in Europe

Source : Ellipsis AM –  06/30/2025

STRENGTHS

1

A WELL-REGARDED TRACK-RECORD:
convertibles since 2003, high yield since 2012

2

ROBUST PROCESS AND GOVERNANCE
Europe & Global, open-ended funds, dedicated funds (UCITS & AIFs), mandates

3

TOP 10 BENCHMARK MANAGERS FOR EUROPEAN CONVERTIBLES*

4

SFDR ARTICLE 8**:
for all Convertibles and Credit bonds  portfolio managed actively 

CONVERTIBLES FUNDS
CREDIT FUNDS

(*) Ranking as of June 30, 2022 on the basis of our peer group funds. Our peer group consists of euro-denominated funds invested in the euro zone and/or Europe, and classified by Refinitiv Lipper in the “Convertible Bonds Europe” category and meeting criteria laid out in our methodology, which is available on our website at: https://www.ellipsis-am.com/compliance/methodologie-peer-group. References to past rankings and awards are not a reliable indicator of future rankings or awards.
(**) European Regulation (EU) n°2019/2088 known as the Sustainable Finance Disclosure (SFDR). To find out more about Ellipsis AM’s ESG policy: https://www.ellipsis-am.com/publication/ComplianceDoc/En_Rapport-LEC-Ellipsis-AM.pdf

bespoke solutions

1BESPOKE

We can design convertible and credit portfolios tailored to your investment objectives and constraints.

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2InstitutionAls

We manage mandates & dedicated funds on behalf of European institutionals.

We integrate the specific ESG commitments stated in your specifications.

3RETAIL

Dedicated funds for live insurance, discretionary management and white label offers.

Our retail capability also assists investors in rolling out their own offers.