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Degroof Petercam Asset Management (DPAM) is an independent active asset management firm part of a family owned group with its origins in 1871. DPAM is a sustainable investor, pioneer and innovative in responsible and sustainable investing. The firm integrates ESG across asset classes and themes and it is an active owner. DPAM has a strong focus on research with a proprietary in-house fundamental and quantitative analyst teams (credit, equity and responsible investment) that interact with each other, supporting the firm asset management activities. The company manages investment funds as well as discretionary mandates on behalf of institutional clients, and currently manages over 33 billion euros, with over 135 investment professionals.
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Degroof Petercam Asset Management (DPAM), has broadened its active management expertise with the convertible bond segment, through its Paris-based Expertise Centre Degroof Petercam Gestion (DPG).
Laurent Le Grin, CFA and Boris Rochereuil, CFA have joined DPG to manage and develop the convertible bond expertise out of Paris.
Peter De Coensel, Member of the Management Board of DPAM & DPG and Laurent Gaetani, Head of DPG, comment on the hire of the team and the plans for the future: “DPAM takes another important step in its further development. Laurent Le Grin will head our effort in building a convertible bond expertise out of Degroof Petercam Gestion in Paris. He is a seasoned, recognized professional with a deep expertise in European and Global Convertible Bond fund management. He will be able to leverage on our in-house equity and credit research capacity and deliver active value to our institutional and private banking client base.”
The investment philosophy of the convertible bond strategies will be based on three principles:
Laurent Le Grin, head of the convertible bond team, is strongly convinced of the advantages of the asset class and is keen on developing it further: “I believe there are five main reasons to consider convertible bonds. The first is convexity; convertible bonds generate equity-like returns with less volatility. Secondly, convertible bondholders may generate higher returns than other fixed income instruments in the context of M&A. Thirdly, from an asset allocation point of view, they improve the risk-reward of a diversified portfolio (by investing 5-15%). Fourthly, they are less sensitive to interest rate rises, providing a cushion for investors. They have negative correlation to government bonds, but positive correlation to equities and corporate bonds. Finally, convertible bonds benefit from a favourable treatment under the Solvency II framework.”