Echiquier Hybrid Bonds I
Echiquier Hybrid Bonds is invested in perpetual or long-dated subordinated bonds issued by private non-financial companies whose geographic exposure is confined to the eurozone or OECD countries.
Class I - FR0013217999 - NAV : 1 079,42€
As of 01/07/2024
Fund Managers
Fund manager
From Argentina, Uriel Saragusti spent three years studying economics at the University of Buenos Aires before obtaining a Master's degree in Economic and Financial Engineering from the University of Paris Dauphine. After gaining experience as an analyst at Dexia Crédit Local, he continued his career at BNPP AM as a buy-side credit analyst, before joining La Financière de l'Echiquier in October 2013 as a credit analyst. He became credit manager in 2017, then progressively other credit and multi-asset funds, such as Echiquier ARTY SRI in 2019. In 2021, he was appointed head of La Financière de l'Echiquier's Credit team. Since 2024, the year of the merger between Tocqueville Finance and LFDE, he has been in charge of LFDE's Credit team.
Fund manager
A graduate of EM Lyon Business School and with a Master 2 in Business Law and Taxation from Bordeaux University, Matthieu Durandeau began his career at Airbus in 2010, and joined Crédit Agricole CIB in 2011 as a Leveraged Finance Analyst before joining Fitch Ratings in London in 2014 as a High Yield & LBO Analyst. From 2016 to 2018, Matthieu joined Altarocca AM as Senior Analyst. After the acquisition of AltaRocca AM by LFDE in 2018, he became Analyst on multi-asset and credit funds - excluding convertibles. Matthieu became manager of the High Yield and Private Debt dated funds in 2019, then of the Echiquier Hybrid Bonds and Echiquier High Yield SRI funds in 2021. In 2021, he obtained the Certificate in ESG Investing awarded by the CFA. Since Tocqueville Finance was absorbed by LFDE in 2024, he has been part of LFDE's Credit division.
Fund manager
A graduate of the Magistère Banque Finance Assurance program at Université Paris Dauphine, Aurélien began his career with internships at Natixis. He then worked for 7 years at Fitch Ratings (London and Paris), first as an analyst, then as an Associate Director in the Automotive sector, and finally as a Director in the same sector. In 2016, he was awarded the CFA, and the Certificate in ESG Investing in 2021. In June 2021, he joined La Financière de l'Echiquier as an analyst on multi-asset and credit funds (excluding convertible funds) before becoming a fund manager in 2023. Since 2024, when Tocqueville Finance and LFDE merged, he has been part of LFDE's Credit team.
Performance
Price dataCalendar performance (%)
Past performance is not an indication of future performance. Returns indicated are after management fees but before taxes paid by the investor.
Calendar performance (%)
| 2024 | |
| Echiquier Hybrid Bonds I | +3,12 |
| Benchmark | +3,21 |
| 2023 | |
| Echiquier Hybrid Bonds I | +10,26 |
| Benchmark | +10,38 |
| 2022 | |
| Echiquier Hybrid Bonds I | -11,62 |
| Benchmark | -13,28 |
| 2021 | |
| Echiquier Hybrid Bonds I | +0,68 |
| Benchmark | +1,29 |
| 2020 | |
| Echiquier Hybrid Bonds I | +0,31 |
| Benchmark | +2,72 |
| 2019 | |
| Echiquier Hybrid Bonds I | +9,78 |
| Benchmark | +12,74 |
| 2018 | |
| Echiquier Hybrid Bonds I | -5,97 |
| Benchmark | -4,41 |
| 2017 | |
| Echiquier Hybrid Bonds I | - |
| Benchmark | +4,48 |
Cumulative performance (%)
| 3 months | |
| Echiquier Hybrid Bonds I | +0,90 |
| Benchmark | +1,30 |
| 2024 | |
| Echiquier Hybrid Bonds I | +3,12 |
| Benchmark | +3,21 |
| 1 year | |
| Echiquier Hybrid Bonds I | +10,65 |
| Benchmark | +10,79 |
| 3 years | |
| Echiquier Hybrid Bonds I | +0,25 |
| Benchmark | -1,19 |
| 5 years | |
| Echiquier Hybrid Bonds I | +3,41 |
| Benchmark | +5,74 |
| 10 years | |
| Echiquier Hybrid Bonds I | - |
| Benchmark | - |
| Inception | |
| Echiquier Hybrid Bonds I | +7,94 |
| Benchmark | +15,74 |
Annualised performance (%)
| 1 year | |
| Echiquier Hybrid Bonds I | +10,62 |
| Benchmark | +10,76 |
| 3 years | |
| Echiquier Hybrid Bonds I | +0,08 |
| Benchmark | -0,40 |
| 5 years | |
| Echiquier Hybrid Bonds I | +0,67 |
| Benchmark | +1,12 |
| 10 years | |
| Echiquier Hybrid Bonds I | - |
| Benchmark | - |
| Inception | |
| Echiquier Hybrid Bonds I | +1,11 |
| Benchmark | +2,13 |
Risk indicators (%)
| 1 year | |
| Fund volatility | 3,11 |
| Index volatility | 3,30 |
| Sharpe ratio | 3,37 |
| Information ratio | -0,25 |
| Beta | 0,93 |
| 3 years | |
| Fund volatility | 4,97 |
| Index volatility | 5,75 |
| Sharpe ratio | 0,04 |
| Information ratio | 0,29 |
| Beta | 0,84 |
| 5 years | |
| Fund volatility | 5,77 |
| Index volatility | 6,95 |
| Sharpe ratio | 0,16 |
| Information ratio | -0,30 |
| Beta | 0,81 |
Characteristics
| General characteristics of the fund | |
| Fund Inception | 12/09/2017 |
| Investment management company | La Financière de l'Echiquier |
| Legal form | Sicav (subfund) |
| Reference indicator | IBOXX EUR NON-FIN SUBORD. TR |
| Investment horizon | 3 years |
| Periodicity and Listing currency | Daily (EUR) |
| Custodian | BNP Paribas SA |
| Fund Administrator | Société Générale |
| SFDR classification | Article 8 |
| Share class characteristics | |
| Fund Inception | 31/07/2017 |
| ISIN Code | FR0013217999 |
| SRI PRIIPS | 2/7 |
| Minimum subscription amount | 500 000 € |
| Investor profile | Reserved for institutional investors |
| Tax included Including tax | 0,60% |
| Subscription fee max. tax incl. not retained by the fund | 4,00% |
| Redemption fee max. tax incl. not retained by the fund | 0,00% |
| Management fees and other
administrative and operating expenses (based on the fund's last fiscal year) |
0,60% |
| Transaction costs (based on the average of the fund's last 3 fiscal years) |
0,40% |
Legal information
The information provided above is not contractual and does not constitute investment advice. Past performance is not a reliable indicator of future performance. Management fees are included in performances. The value of the investment may change in line with market fluctuations and investors may lose some or all of their initial investment, as the investment funds carry no capital guarantee. Access to the products and services presented herein may be subject to restrictions for certain people or countries. Taxation depends on each investor’s personal situation. The risks, charges and recommended investment period of the investment funds presented are described in the KIIDs (key investment information documents) and prospectuses available on this website. The KIID must be provided to potential investors prior to subscription.