`

Overview

  • Alma US Convertible Fund invests in US convertible bonds.
  • Management of the fund is delegated to Shenkman Capital.

Share Class

NAV

Cumulative Performance (%)

Fund Inception 18 November 2011

Daily Monthly Ytd 1Yr 3Yr 5Yr Incept. Incept.Date

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

Funds Strategy

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


Investment Manager

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

Key Persons

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

Performance

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 AUM

as of 31/10/2018

Top 10 Position Details

as 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
Meritor Inc Industrials 1.96

Facts & Documents

Facts

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

Identifiers:

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

Documents