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Fisch Asset Management, which specialises in convertible bond, corporate bond and absolute return strategies, continued to grow its business in the first half of its anniversary year as a result of further inflows and positive markets. As such, assets under management (AuM) have increased to CHF 10.5 billion (EUR 9.5 billion) as at the end of June. In addition, Environmental, Social & Governance (ESG) criteria have been fully integrated into our research process.
A success story turns 25: from a two-man team to a staff of more than 90
A quarter century ago, brothers Kurt and Dr Pius Fisch founded a start-up that was to become a success story in Swiss asset management. The internationally active asset manager has always remained true to itself, and will maintain its focus on a select few investment strategies. In the words of Dr Pius Fisch: “We have a clear focus – a niche – and with it, we are compelled to be among the best. Our mission is to generate performance. Hence, portfolio management is at our core, with probably the largest convertible bond team in the world. Our credo is ‘enthusiasm to be better’, for the last quarter century and on into the next.”
The pioneer in sustainable convertible bond strategies establishes ESG committee
Ten years ago, Fisch Asset Management made the pioneering move to launch a sustainable convertible bond strategy. Now, in the year of its anniversary, Fisch is taking the theme of sustainability further by embedding ESG criteria as a core component of the bottom-up research process. As explained by co-CEO Juerg Sturzenegger: “ESG isn’t a static theme, it’s constantly in transformation. That’s why our ESG committee continuously refines our approach, while also monitoring the use of ESG criteria in our research and investment processes. With a return of around 9% in the first half of the year, our sustainable convertible bond fund had a strong start to 2019.”
Increase in AuM and strong performance of investments
Of the increase in AuM to CHF 10.5 billion, co-CEO Philipp Good said: “We achieved substantial inflows of new money from existing as well as new clients into the convertible bond, high yield and the emerging market strategies. The inflows into our convertible bond strategies – contrary to the market trend – illustrate that clients appreciate our many years of experience and expertise. Just as they had by the end of 2018, all of our product strategies again beat their respective benchmarks over longer-term time horizons of three and five years as at 30 June,” explained Good, who takes an optimistic view of the second half of 2019. “The low interest rate environment will likely persist, feeding demand for asset classes with higher expected returns,” he said.