New Capital
Global Convertible Bond Fund


The New Capital Global Convertible Bond Fund aims to deliver long term total returns while minimising drawdowns by focusing on credit quality and convexity. The objective of credit quality is to secure bond floor integrity so as to limit the downside. Only then can we think of upside and measure ex ante convexity.

Convertible bonds are at the crossroads of New Capital’s expertise enabling management team to leverage on in house research and models. That’s not only true for equity and credit research but also for ESG scoring and macro strategy.

The asset class offers investors to buy embedded long-term single stock call options which are partly paid for by the credit component of the bond.

As for the investment process, we first take a bottom-up approach to select lines in the portfolio. It requires quantitative skills to filter the most attractive profiles but also qualitative expertise to determine where the value would come from. Given many issuers are unrated, convertibles enable bond investors to access new set of companies, many in high growth sectors with promising opportunities in the fields including technology (cloud, internet of things, software) and health care (medical devices, biotech).

A total return mindset leads the manager to hedge specific risks when opportune. This is part of the active management when benchmarks are not always efficient.


PRICES AND LITERATURE

Class ISIN Price Currency Price Date Factsheet Datasheet KIID
USD I Acc IE00BK9WPH86 94.93 USD 4/7/2020 - -
CHF I Acc IE00BL0KXT67 93.90 CHF 4/7/2020 - -
EUR I Acc IE00BK9WPL23 94.11 EUR 4/7/2020 - -
GBP Acc IE00BK9WQ089 89.95 GBP 4/7/2020 - -
USD O Acc IE00BK9WPZ68 93.70 USD 4/7/2020 - -

DOWNLOAD FUND DOCUMENTS FOR DUE DILIGENCE

Reports & Accounts
Annual Report-ENG
Semi-Annual Report-ENG
Prospectus
Full Prospectus-ENG
How to Invest
Application Form
Shareholder Notice
Shareholder Notice-ENG
HMRC Year End Reporting
HMRC Reporting-ENG
Dealing Calendar
Dealing Calendar-ENG
Memorandum and Articles of Association
Memorandum and Articles of Association-ENG
Dividend Schedule
Dividend Schedule-ENG