People Moves

Edmond De Rothschild Adds To Convertible Bond Expertise

Amisha Mehta, Assistant Editor, London, 29 April 2016


The asset management arm of Switzerland's Edmond de Rothschild has hired a convertibles specialist.

Edmond de Rothschild Asset Management has appointed Annelie Fearon to its convertible bond team in London.

Fearon previously worked at Cheyne Capital Management. She brings 17 years of financial market experience, 13 of which were spent developing convertible bond strategies.

“The London team, led by Laurent Le Grin, comprises 15 private debt experts, with €1.2 billion ($1.4 billion) in European convertibles and €700 million in international convertibles,” EDRAM said in a statement.

As hybrid securities, which are midway between bonds and equities, giving investors access to the “best of both worlds”, convertibles will play a key role this year, it added. 

“What sets them apart is their convexity or the ability to capture part of equity market rises while cushioning losses in down periods thanks to their bond floor. This helps them reduce equity market losses in highly volatile periods and capture two-thirds of any equity market rallies but with only a third of their volatility.”

EDRAM had €53 billion under management at the end of 2015. The Edmond de Rothschild group as a whole, which also covers private banking, had €150 billion under management.

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