Our Strategies
TreeTop Convertible Bond Strategy
Total Net Assets
€37mEUR at 28 February 2025
Overview
The TreeTop Convertible Bond Strategy primarily invests in convertible bonds and other fixed-income instruments, such as bank deposits, warrants, or call options on equities. In addition to fixed income, the Strategy may also invest in equities and equity-linked securities, with the flexibility to use derivatives both for investment purposes and for hedging risks.
Investment Objective
The Strategy aims to grow investment value over the long term. It is designed for investors with a long-term investment horizon (a minimum of five years). Investors should have a comprehensive understanding of the risks associated with financial markets and be willing to accept potential capital losses resulting from fluctuations in the portfolio’s asset values.
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| Inception Date | 30th June 1988 |
| About TreeTop Asset Management | |
Investment Managers
Félix Berghmans
Director, Investment Manager
Years at Aubrey
5
Industry experience
16
Félix has been working at Aubrey Capital since 2020 first as a Co-portfolio manager of Global Horizon and then as a Co-portfolio manager of Treetop Convertible International. He is also part of the team responsible for capital allocation within Emerging Markets for TreeTop’s third-party holdings. With a focus on fundamental research and growth assets, Félix contributes to idea generation for the Aubrey GEM Strategy. Félix is a board member of Aubrey Capital.
Félix studied Business Management in Louvain, Belgium and moved to Hong Kong after his graduation in 2010. He worked at Wardferry (now WFM-Asia) for five years, where he covered growth Asian companies as an analyst. He then joined Treetop in London in 2015, as an analyst covering global growth companies for Treetop Convertible, Treetop Sequoia and Treetop Star International.
Ben Shields
Investment Manager
Years at Aubrey
5
Industry experience
15
Ben joined Aubrey in 2020 as one of the three co-managers of the TreeTop Global Horizon Fund, and now jointly manages the TreeTop Convertible International fund. He is also part of the team responsible for capital allocation within Emerging Markets for TreeTop’s third-party holdings. With a focus on fundamental research and growth assets, Ben contributes to idea generation for the Aubrey GEM Strategy.
Ben studied at King’s College, Cambridge, where he graduated with a degree in Economics. He then started his career in 2010 at Sanford C. Bernstein where he worked as an equity research analyst on the European Chemicals and European Building Materials sectors. He received the CFA designation in 2013. Ben moved to TreeTop in 2013 as an analyst (and later co-manager) of the Global Opportunities Fund.
Jon Alvis
Investment Manager
Years at Aubrey
5
Industry experience
16
Jon joined Aubrey in 2020 as one of the three co-managers of the TreeTop Global Horizon Fund, and now jointly manages the TreeTop Convertible International fund. He is also part of the team responsible for capital allocation within Emerging Markets for TreeTop’s third-party holdings. With a focus on fundamental research and growth assets, Jon contributes to idea generation for the Aubrey GEM Strategy.
After graduating with a degree in Physics from University College London, Jon started his career at Ernst & Young, qualifying as a chartered accountant in 2009. He then joined Sanford C. Bernstein as an equity research analyst in 2010, before moving to TreeTop.
Jon has worked for TreeTop directly, and now indirectly, since 2014. He was previously an analyst and then a co-manager of TreeTop’s Global Opportunities Fund.
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