After graduating from École Supérieure d'Electricité (Supelec) in 1982, Gildas founded the Sophis company in 1987 - provider of convertible bonds and equity derivatives valuation platforms. In 1992, he joined the Exane Group to develop and manage convertibles, credit and options Research. After working as Head of Research for 20 years, he joined Ellipsis AM in 2012 as Chairman of the Board.
Could you tell us about Ellipsis AM's offer and how it has developed?
Ellipsis AM specialises in convertibles, and this management division has constituted our historical foundation since 2003, when we launched the first European convertible index fund. The Overlay & Volatility division specialises in the listed derivatives and hedging strategies of an equity portfolio that we have marketed since 2008. In 2012, we boosted our expertise by creating a credit division whose issuer risk analyses feed all management teams, and an allocation division that contributes to the analysis of the macro-economic environment with a view to defining the asset allocation strategy. In 2019, we launched a global convertible fund.
How does Ellipsis AM set itself apart from the competition, do you think?
First of all, our research-driven philosophy puts our convictions at the heart of our management processes. The 360° approach gives us a cross equity/credit/volatility vision that guides the selection of instruments within our investment scopes. In this way, the proximity and complementary nature of the various divisions strengthen this 360° approach which is an original aspect of our system. We are also highly focused on the quality and responsiveness of our client service: transparency in reporting, support and follow-up of dedicated offers and mandates, regular meetings with managers, web services, etc.
How is your company organised?
Our structure is on a human scale, and today we have about 20 employees split among all the business lines required for an asset management company to operate, including a subsidiary in Geneva, created in 2019, which manages the distribution in Switzerland.
How are your clients distributed? What geographical areas do you cover?
Our clients mainly consist of European institutional investors, mainly in France, Switzerland and Italy, as our main funds are registered on these three markets. We plan to increase our presence in other European geographical areas (Belgium, Luxembourg, etc.).
What are your major projects nowadays?
For more than two years now, we have followed a responsible and sustainable engagement approach within our investment policies. Having signed up to the UN's PRI (Principles for Responsible Investment), we plan to gradually strengthen this approach by increasingly taking into account environmental, social and governance risks in our management processes, at a time when investors are increasingly aware of these issues.