Cheyne Convertibles Absolute Return Fund: Cheyne Capital Management (UK)

Shortlist: Best sub-$100 million Ucits product

The European Perfomance Awards 2011

The Cheyne Convertibles Absolute Return Fund aims to generate long-term absolute capital appreciation by investing in global convertible bonds. The fund uses effective hedge overlays to generate absolute returns targeted to be net cash plus 8%-10% return a year with 6%-8% volatility.

While the fund strategy uses selective unhedged convertibles offering attractive risk-reward profiles, the fund can also hedge equity and credit. In the hedged portion of the portfolio, the fund managers seek to

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