This desk specialises in high-value-added asset classes that have long been our hallmark and in which we have a recognised track-record.
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.
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.
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.
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.
CEO, Convertibles Portfolio Manager
Source : Ellipsis AM – December 31, 2023
(*) 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
Arrival of Delphine LALOUM as credit and high yield manager. Launch of Ellipsis Disruption Convertible Fund & Ellipsis Credit Road 2028.
Arrival of Cyril BATKIN as convertible trader. Merge Convertibles & Credit expertise into one division.
Arrival of Penelope DUGAS as Analyst and launch of Ellipsis Global Convertible Fund.
Arrival of Nicolas SCHRAMECK as manager and development of an ESG analysis methodology.
Arrival of Sébastien CARON as portfolio manager .
We manage mandates & dedicated funds on behalf of European institutionals.
We integrate the specific ESG commitments stated in your specifications.
Dedicated funds for live insurance, discretionary management and white label offers.
Our retail capability also assists investors in rolling out their own offers.