Schroders bolsters convertible bond team

Schroders has appointed Stefan Krause as portfolio manager within its convertible bond team based in Zurich.

Krause will work alongside Peter Reinmuth, head of Convertible Bonds, as co-manager of the Schroder ISF Global Conservative Convertible Bond.

Prior to joining Schroders, Krause managed the Man Convertibles Europe fund at Man Investments (CH) during four years.

Before that, he spent two years with Warburg Invest in Hamburg as a portfolio manager for European convertibles and nearly five years with UBS in Zurich.

Over 2015, the Schroder ISF Global Conservative Bond fund has delivered net returns of 5.29% against the 2.94% of its benchmark, the Thomson Reuters Global Focus Investment Grade convertible bond index.

The fund seeks to provide capital protection and growth within volatile markets by investing in high quality convertibles with an average credit quality of investment grade at all times.

Schroders convertible bond team manages three dedicated investment strategies: global opportunistic, global conservative and Asian convertible bonds.

Martin Kuehle, investment director, convertible bonds at Schroders said: “Convertibles delivered well as an asset class throughout 2015.

“During the first half of the year they performed in line with equity markets; despite an inherent equity risk of only 50%. The second half of the year saw successful and very active exposure management.

“Given market volatility, we expect strong demand for convertible bonds. The in-built stabilisers of convertible bonds could present an optimal solution for benefitting from bull markets with additional protection against short-term set-backs.”

Schroders had €400bn of AUM as at end September 2015.

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