Published: February 6, 2019
UBP delves deeper into convertible bond offering
Union Bancaire Privée (UBP) has hired Marc Basselier as head of convertible bonds, a product that looks to offer investors some diversification as the global credit cycle turns away from cheap money.
Basselier joined UBP from AXA IM, where he worked in the global and European convertible bond strategies team for more than 15 years. He has also worked as a convertible arbitrage strategy fund manager at France’s BFT.
Based in Paris, Basselier will head up a team of nine tasked with increasing UBP’s convertible bond offering. The team includes Alice de la Morinière, who has also joined the bank as a senior portfolio manager.
“In this market environment where investors should expect overall returns to be limited, the convertible bond market offers diversified exposure to sub-sectors of technology and healthcare where growth is linked to secular trends and not to the slowing macro-economy activity,” Basselier told EMEA Finance.
“We favor this kind of exposure not only for the better performance expectation derived from our fundamental analysis,