Alma US Convertible Fund
- Alma US Convertible Fund invests in US convertible bonds.
- Management of the fund is delegated to Shenkman Capital.
Cumulative Performance (%)
Fund Inception 18 November 2011
The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost.
Strategy & Manager
Investment objective: non-benchmark oriented approach that seeks to maximize risk-adjusted returns by investing mainly in below investment grade, USD denominated convertible securities of US-based issuers
- Investment process: intensive fundamental credit and equity analysis to identify creditworthy companies with potential equity upside
- The fund benefits from the investment manager’s strong credit expertise in the US high yield market
- Disciplined and defensive entry/exit strategy, which aims to purchase convertibles with a low premium above the bond valuation and sell securities with excessive equity sensitivity
Shenkman Capital Management is an SEC-regulated investment adviser, founded in 1985 by Mark Shenkman. Offices in New York City, Stamford and London.
- Pioneer in the high yield bond, convertible bond and loan markets
- Shenkman Capital has a predominantly institutional client base and manages US$ 26 billion
Raymond F. Condon, Senior Vice President, Portfolio Manager
A portfolio Manager with an extensive experience in convertible and related equity and high yield marketplaces : Ray Condon’s broad experience (40 years) gives him a unique understanding of the balance sheet needs of corporate issuers as well as the buy/sell valuation dynamics used by convertible institutional investors.
Jordan Barrow, CFA Vice President, Portfolio Manager and Research
Jordan Barrow joined Shenkman Capital in 2004. He has over 13 years of high yield research experience. Jordan received a Bachelor of Arts Degree in Economics and International Relations from the University of Pennsylvania (2004). In addition, he is a CFA charterholder (2007).
Statistics & Commentary
The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.
Sector Breakdown as a % of AUMas of 31/10/2018
Top 10 Position Detailsas of 31/10/2018
|Security name||Sector||% AUM|
|Liberty Media Corp||Communication Services||2.54|
|Biomarin Pharmaceutical||Health Care||2.41|
|Nextera Energy Partners||Utilities||2.15|
|Royal Gold Inc||Materials||2.14|
|Tesla Inc||Consumer Discretionary||2.14|
|Extra Space Storage LP||Real Estate||2.10|
|Live Nation Entertainement||Communication Services||2.10|
|Blackstone Mortgage Tr||Financials||2.02|
|Citrip.com Intl Ltd||Consumer Discretionary||2.02|
Facts & Documents
Fund Domicile: Luxembourg
Management Fee: 0.90% p.a. for I shares
Fund Type: UCITS SICAV
Fund Launch: 18 November 2011
Base Currency: USD
Depositary, Administrator, Transfert Agent: BNP Paribas Securities Services (LU)
Dealing: Each day with a 1-day notice
Cut-off time: 12 pm CET
Management Company: Alma Capital Investment Management
Investment Manager: Shnekman Capital Management, Inc (US)
Countries where the fund is registered:
France, Italy, Germany, Switzerland, United Kingdom
Institutional USD Capitalisation share class
ISIN: LU0685779000 Ticker: ALMASUS LX Launch: 15 Jun 2012
Institutional EUR (hedged) Capitalisation share class
ISIN: LU0685779265 Ticker: ALMUSCI LX Launch: 18 Nov 2011
Institutional EUR (hedged) Distribution share class
ISIN: LU0846219193 Ticker: ALUIEHD LX Launch: 26 Oct 2012
available upon request