French investment boutique Ellipsis has revamped its convertible bonds team, which coincides with veteran portfolio manager Claude Camin leaving the firm.
Camin stepped down in the spring after nearly six years with the Paris-based asset manager, Citywire Selector has learned.
He had been named on the group’s flagship convertible bond fund, as well as the Ellipsis Funds – Top ECI and Ellipsis Convertible Risk Adjusted fund. Camin originally joined Ellipsis AM, which is part of the Exane Group, from Groupama Asset Management in 2011.
His departure comes against the backdrop of wider changes in the convertible bonds team, which saw Damien Vermonet hired from Schroders in August 2016 to oversee the department.
The addition of Vermonet, who had been one of the founding members of Schroders’ in-house converts team and also previously worked at French boutique Acropole, coincided with the addition of former Aviva Investors manager Nicholas Schrameck.
Schrameck joined Ellipsis earlier this year and was assigned as a co-manager alongside Vermonet and existing co-manager Sébastien Caron on the firm’s convertible funds. Schrameck previously worked for Edmond de Rothschild Asset Management.
Ellipsis Asset Management oversees almost €2 billion in assets across convertible bond and credit approaches, as well as running alternative funds, asset allocation and volatility investment teams.