fund details.

LO Funds

Convertible Bond, Syst. NAV Hdg, (USD) N A

HIGHLIGHTS

LO Funds - Convertible Bond is an actively managed long-only global convertible bond strategy launched in December 2002. It invests mainly in global convertible bonds with a balanced profile. It seeks to deliver asymmetrical performance over the medium to long-term, profiting from equity market upturns while benefiting from the downside protection of a fixed income structure with a fraction of the volatility of equities. The investment approach is based on in-depth fundamental and technical research and combines ‘top-down’ economic analysis with ‘bottom-up’ stock selection. Two final hurdles include a minimum issue size of USD 150 mn (for liquidity purposes) and a minimum credit rating of B- (reflecting the search for an investment grade quality for the portfolio).

MANAGERS

Manager Profiles

Nathalia Barazal London Investment Management (Convertibles)

Nathalia Barazal joined Lombard Odier in 2004 as portfolio manager for convertible bonds. She is currently heading the portfolio management team for convertible bonds. Prior to joining Lombard Odier, Nathalia  Read more

Arnaud Gernath London Investment Management (Convertibles)

Arnaud Genhard joined the Lombard Odier group in December 2011 as portfolio manager for convertible bonds. Arnaud started his career at Schelcher-Prince Finance (subsidiary of CPR and now part of Credit  Read more

GENERAL INFORMATION

Overview

Asset Class Convertibles
Category Global
Share Class reference currency USD Hedged
Benchmark Thomson Reuters Global Convertible Composite Hedged USD
Dividend Policy Accumulated

Latest Data

Performance YTD 7.92% 12.09.2019
Total Assets (all classes) in mn USD 3199.80 31.08.2019
Assets (share class) in mn USD 116.59 31.08.2019
NAV (USD) 27.43 12.09.2019
Highest - Last 12 months 27.52 24.07.2019
Lowest - Last 12 months 25.31 21.12.2018
Number of positions 148 31.08.2019
TER 0.87% 31.03.2019

Cumulative Performance

 
Past performance is not a guide to future performance. The performance data do not take account of the commissions and costs incurred on the issue and redemption of units, performance is presented net of fees. The NAV of fund units and official prices of benchmarks are used for performance comparison purposes. Source of the figures: Lombard Odier.

News & Awards

Awards

Provider year Distinction Period Sector
Lipper 2009 1st place/16 2009 Bond Convertibles Global
Lipper 2009 1st place/17 2009 Bond Convertibles Global
Lipper 2009 1st place/31 2009 Bond Convertibles Global
Lipper 2009 1st place/23 2009 Bond Convertibles Global
Lipper 2009 1st place/15 2009 Bond Convertibles Global
Lipper 2009 1st place/11 2009 Bond Convertibles Global
Lipper 2009 1st place/28 2009 Bond Convertibles Global
Lipper 2009 1st place/21 2009 Bond Convertibles Global
Lipper 2009 1st place/23 2009 Bond Convertibles Global
Lipper 2009 1st place/16 2009 Bond Convertibles Global
Lipper 2009 1st place/12 2009 Bond Convertibles Global
Lipper 2009 1st place/14 2009 Bond Convertibles Global
Lipper 2009 1st place/10 2009 Bond Convertibles Global

PRICES

Period
(Earliest Date: 02.04.1987)
(Latest date: 12.09.2019)

Prices over selected period

Last USD 27.43 12.09.2019
First USD 4.37 02.04.1987
Highest USD 27.52 24.07.2019
Lowest USD 3.79 12.11.1987

PERFORMANCE & STATISTICS

Statistics (02.04.1987 - 12.09.2019) ¹

( Earliest Date : 02.04.1987)
Go
( Latest date : 12.09.2019)
Fund
Total Return 528.32%
Annualized Return 5.81%
Annualized Volatility 6.76%
Sharpe Ratio 0.38
Downside Deviation 4.82%
Positive Months 62.56%
Maximum Drawdown -26.86%
Risk-Free Rate 3.25% Target Rate 3.25%
¹ Calculations based on monthly time series

Cumulative Performance

 
Past performance is not a guide to future performance. The performance data do not take account of the commissions and costs incurred on the issue and redemption of units, performance is presented net of fees. The NAV of fund units and official prices of benchmarks are used for performance comparison purposes. Source of the figures: Lombard Odier.

BREAKDOWNS

Period

Top 10 (in %)

Amxlmm 0 05/28/20
4.70%
CSA MM EUR GLCB
2.60%
Csa Mm Usd Glob
2.40%
Titim 1 1/8 03/26/22
2.20%
Chcons 0 01/05/23
2.00%
Sne 0 09/30/22
2.00%
Akam 0 1/8 05/01/25
1.80%
Everre 4 1/4 02/14/23
1.70%
Dwnigy 0.6 01/05/26
1.60%
Sika 0.15 06/05/25
1.60%

Countries (in %)

Europe
32.69%
United States
28.23%
Asia
21.29%
Japan
8.79%
Others
1.59%
Liquid assets
7.41%

Credit Ratings (in %)

A
23.19%
BBB
34.09%
BB
24.89%
B
7.85%
Not rated
2.57%
Liquid assets
7.41%

Currencies (in %)

USD
100.00%

SECURITY NUMBERS

Dealing

Subscriptions and redemptions frequency Daily
Subscriptions and redemptions cut-off day T-1
Subscriptions and redemptions cut-off time 15:00 CET
Subscriptions and redemptions settlement date T+2
NAV valuation point T
NAV calculation day T+1
NAV calculation frequency Daily
Minimum Investment CHF 1'000'000 or eq
Management Fee 0.65%
Distribution Fee 0.00%

Security Numbers

BLOOMBERG LCSHUIA LX
ISIN LU0871571997
REUTERS 20324261X.CHE
SEDOL GBBWY4ZC8
TELEKURS 20324261

Share Quotation

Electronic Media

DOCUMENTATION

Professional investors only Date DE EN FR IT
Newsletter IM - Professional 31.07.2019
Annexe Date DE EN FR IT
UK Reporting Status - Reportable Income 08.05.2019      
Reporting Date DE EN FR IT
Fact Sheet 31.08.2019
Performance Review 31.08.2019
Legal Documents Date DE EN FR IT
Articles of incorporation 21.03.2019    
Notice to Shareholders 17.04.2018    
Notice to Shareholders 28.08.2018      
Notice to Shareholders 05.02.2019    
Notice to Shareholders 21.02.2019    
Notice to Shareholders 12.03.2019    
Notice to Shareholders 10.12.2018    
Notice to Shareholders 30.01.2018    
Key Investor Information Document 11.01.2019
Prospectus 21.03.2019  
Annual Report 30.09.2018  
Semi-Annual Report 31.03.2019  
Sicav article of incorporation 21.03.2019  
Retail investors Date DE EN FR IT
Reasons to invest (Retail) 24.09.2018