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Dix questions que se posent les investisseurs sur les obligations convertibles — et leurs réponses
Cet article est paru dans Allnews le lundi 6 octobre 2025, par Eric Daniel, gérant de portefeuille de la stratégie des obligations convertibles.
Au cours des dernières années, les obligations convertibles ont séduit un grand nombre d’émetteurs, tout en offrant aux investisseurs une source supplémentaire de diversification dans un environnement de marché en mutation. Malgré leur montée en puissance, cette classe d’actifs hybride suscite encore de nombreuses interrogations quant à son fonctionnement et sa place dans une allocation d’actifs globale. Notre décryptage :
The fund QCF (Lux) – Bond Investment Opportunity renewed its French ISR label certification
Quaero Capital is proud to announce that it has successfully renewed the French ISR label certification for its fund QCF (Lux) – Bond Investment Opportunity, in line with the updated ISR V3 guidelines.
This new version of the ISR label represents a significant step forward in both ambition and rigor for responsible investment. The revised framework strengthens the credibility and environmental focus of the label through:
- Broader and formalized sector exclusions
- Stricter ESG-filtering thresholds
- Higher expectations for climate transition alignment
- Stronger stewardship requirements through engagement and voting
- Enhanced governance and transparency via new reporting standards
Quaero Capital is proud to meet these enhanced standards, reaffirming its commitment to responsible investment.
Quaero Capital currently manages three funds certified by the SRI label: Quaero Capital Funds (Lux) – Bond Investment Opportunity, OPPCI Educatio and a third real estate fund launched in early 2025.
Obtaining the ISR Label is the result of an in-depth audit of each stage of the fund’s investment process, ensuring the robustness of the stock selection methods and the adherence to demanding ESG standards.
La finance suisse est (aussi) européenne
Cet article est paru dans Le Temps du 7.07.2025.
Après près de 20 ans de tractations, le Conseil fédéral a franchi une étape importante le 13 juin, en approuvant un paquet d’accords bilatéraux qui va permettre de consolider et de développer nos liens avec l’UE.
Is the last European bond sanctuary in Switzerland?
It will no doubt be necessary to revisit a few commonplaces on the heaven and hell of investment in Europe. In European investment paradise, debt is German, property is British and infrastructure is French. In hell, the debt is French, the infrastructure English and the real estate German.Read more
Is the AI Industry in a “DeepSeek”?
Over the weekend, a Chinese AI start-up funded by quant fund manager Liang Wenfeng released a new version of its large language model (LLM), named DeepSeek. Early reports indicate that DeepSeek’s performance is similar to that of U.S. competitors such as OpenAI and Meta.
Strange dislocations in European small caps: what is going on?
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It’s been tough times recently for managers of small cap equities in Europe. In fact, as at the end of October no less than 80% of small cap managers have underperformed the MSCI Europe Small Cap index year-to-date. French and German managers have been particularly hard hit given their propensity to overweight their home markets, which have been amongst the worst performers (the CAC Small CS90 Index is down 10.7% and the Deutsche Börse SDAX Price Index -7.4% at the time of writing).
Painfully – and with an active share ratio of 98% – we are right in the middle of the 80% that have underperformed, and we have been looking at the data behind the movements to shed some light on why so many managers have been suffering.Read more
The world after Fed easing
The start of monetary easing by the Fed is always a global event. Firstly, because of its impact on the global cycle. With more than 30% of world consumption (in dollars), US demand clearly steers the development of global demand.
A look back at the summer of 2024 and the key points for the markets between now and the end of the year
A look back at the summer of 2024
Macroeconomic developments
Macro surprises deteriorated over the summer before stabilising in September. The slowdown in activity is most marked in the developed countries (United States, Europe) and China. Nevertheless, global growth remained at satisfactory levels, close to 3% (Purchasing Power Parity) in Q3 according to the August composite Purchasing Managers’ Index (PMI).
Family shareholders driving companies to ‘go private’
Europe has recently seen an acceleration in the number of companies buying in their free floats and taking the decision to “go private”.
The trend to delisting may be bad for stockmarkets in the long term, but will benefit small cap investors in the short term.