Die besten globalen Wandelanleihen Fonds

e-fundresearch.com hat eine Top-10 Auswertung Bond Convertibles Global erstellt, gereiht nach Sharpe Ratio 5 Jahre. Die folgenden Fondsmanager haben unsere Fragen beantwortet:

e-fundresearch: "Welche Elemente sind die wichtigsten in Ihrem Investmentprozess?"

Giuseppe Mirante, Fund Manager, "IFP Global Convertible Bonds (CHF) A" (ISIN: CH0016340058) (28.08.2012): "I would start by saying that all the elements of our investment process are important, as they are all interdependent. Our top-down (analysis of the macro environment and outlook) and bottom-up (universe scrutiny and value analysis) approach, which result in a selection of targeted bonds, completed by a performing risk management (thanks to the adequate greeks and valuations), can’t be dissociated from our sell discipline, which is completing our investment process in order to have the most efficient portfolio construction. Many of our company resources are dedicated to our investment process. For more than three years, we have been trying to constantly better every variable of this process, especially with the hiring of a quantitative analyst, who is continuously improving the parameters of our valuation models. Now since 2008, it is also an evidence that our main focus has been the credit spreads moves analysis, as a top of the art selection of issuers has been a real key for performance. Our investment process has always managed properly all the risks surrounding convertibles, but focusing on credits has resulted in a perfect selection and review of the issuers that are composing our portfolio. This has helped us in avoiding many traps since 2008, especially giving the fact that the average rating of the holdings in our fund has always been ranging between BBB+ and AA, and that since October 2003, the launch date of our flagship fund, while other competitors funds were only concentrating their selection efforts on the fundamentals of the underlying equity."

Michel Fest, Co-Leiter des Bereiches Wandelanleihen & Fondsmanager, "Man Convertibles America USD" (ISIN: LU0246000094) (27.08.2012): "Den klar wichtigsten Einfluss auf die Performance hat die Titelauswahl, das zeigt unsere langjährige Analyse. Man bietet für jede Region (Amerika, Europa, Asien ohne Japan und Japan) einen Wandlerfonds, welcher jeweils von einem Regionen-Portfoliomanager verwaltet wird. Diese Spezialisten wählen dann ihre jeweils attraktivsten Titel aus, in welche sie auch für den Man Convertibles Global investieren. Dieser „Best-of“-Ansatz hat zu überzeugenden Resultaten geführt."