Investment Objective
The fund aims to achieve a positive return under all market conditions by taking long positions on short-dated, high-quality global convertible bonds directly or through the use of financial derivative instruments and by taking synthetic covered short positions on equity related securities.
Reference Index
1M LIBOR
Latest Meeting Note
Kepler Rating 27 Sep 2017
The investment philosophy of the Aviva Investors Global Convertibles Absolute Return fund is based on the belief that convertible bond pricing is often inefficient, and investors can benefit from mispricings between a convertible bond an...
The investment philosophy of the Aviva Investors Global Convertibles Absolute Return fund is based on the belief that convertible bond pricing is often inefficient, and investors can benefit from mispricings between a convertible bond and its constituent components. The fund combines a long only exposure to short dated convertible bonds, which can provide equity-like returns to the upside while capping losses on the downside, with a long/short arbitrage-focused portfolio. With absolute return convertibles funds few and far between in the UCITS space, and given the long track record of the management team, it is unsurprising that this fund is the largest in the sector. This experience coupled with the strong risk adjusted returns since inception means we award the fund a four star rating.
Performance
| JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC | YTD | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 0.2 | 0.1 | 0.1 | 0.3 | 0.7 | 0.3 | 0.5 | 0.4 | 0.9 | 0.7 | 0.9 | 0.4 | 0.3 | |
| 2022 | 0.9 | 0.1 | 0.2 | 0.1 | 0.6 | 0.1 | 0.2 | 0.4 | 0.1 | 0.1 | 0.0 | 0.2 | 0.9 |
