BNPP AM arm to hard-close European convertibles fund soon
CamGestion, a fully-owned subsidiary of BNP Paribas Asset Management, is to introduce the option of closing its CamGestion Convertibles Europe fund to all subscriptions from existing and new investors as soon as assets under management reach €1.25bn, InvestmentEurope can reveal.
The measure has been decided on 27 March 2018 by the Sicav’s administration board and will take effect on 18 April 2018.
In a shareholder note seen by InvestmentEurope, the firm explains the convertible bond fund will be re-opened to subscriptions at the discretion of the company.
The CamGestion Convertibles Europe fund, launched in December 1997, is managed by Eric Bernard and Sabine Jorrot. As of 10 April 2018, AUM of the fund were €1.19bn, suggesting that it could be hard-closed in coming days or weeks.
It is registered in France, Belgium and Luxembourg.