Boussard & Gavaudan EUR

A multi-strategy event driven fund investing in a variety of arbitrage and relative value strategies, primarily focused around hard catalyst events

Boussard & Gavaudan Holding Ltd ("BGHL") invests in the offshore BG master fund, which is focused on event driven investing, historically investing in hard-catalyst events (corporate actions like mergers & acquisitions). Although their initial focus was on convertible bond arbitrage and trading mandatory convertibles, they have expanded their strategies to include equity derivatives and strategies which take a soft catalyst / RV approach such as capital structure arbitrage and gamma trading. By focusing on bottom up research resulting from excellent corporate access, as well as specialist areas of the market like mandatories, they try to add a convex return profile through all market conditions.

We like the fund due to its well-seasoned team and focus on adding value on a select number of high-conviction strategies, and the product plays to BG's strengths. Through tougher market conditions, the fund has protected investors well.

Fund type Investment Trust
Asset class Absolute Return
Sector Event Driven
Managed by Emmanuel Boussard & Emmanuel Gavaudan
This fund is not currently listed in our model portfolios

Manager Profile

Emmanuel Boussard was the head of equity derivatives trading and a partner at Goldman Sachs prior to founding Boussard & Gavaudan in 2002. Emmanuel has over 30 years of experience and graduated from The Wharton School, University of Pennsylvania and the University of Paris.

Emmanuel Boussard spent 6 years working for Goldman Sachs in London and Paris in the equity derivatives division for 6 years, where he was responsible for propietary trading and the French equity volatility book. He previously worked at Bankers Trust in New York on the Financial Engineering team and graduated from the Ecole Normale Superieure.

Fund performance

Boussard & Gavaudan Investment

Bossard & Gavaudan Asset Management was founded in 2002 as an event driven hedge fund boutique, focused on a range of low volatility absolute return strategies. The firm managed $6bn as of February 2018