Fund Management

UK Asset Manager Launches New Convertibles Fund

14 September 2009

UK Asset Manager Launches New Convertibles Fund

London-based Cheyne Capital Management UK has launched a new UCITS III compliant umbrella fund.

The Cheyne Select Convertibles Fund will be managed in partnership with JP Morgan who will act as administrator and custodian from Ireland, where the fund is registered.

Convertibles are interest-paying securities which can be swapped for shares in the company. UCITS funds carry certain protections for investors; they cannot expose an investor to a loss greater than their investment and must produce regular reports on the portfolio’s performance.

"Convertible bonds provide an appealing combination of upside potential and downside protection and are a compelling asset class for diversification in any asset allocation model,"said Chris Goekjian, chief investment officer at Cheyne.

Cheyne Capital Management manages assets of approximately $6 billion and is part of the Cheyne Group which has offices in London, New York, and Bermuda.

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