Key Takeaways
- • LBPAM's Absolute Return Credit SRI fund won The Hedge Fund Journal's UCITS Hedge award for best performance in 2025 and over the three-year period ending December 2025 in the credit long/short strategy category.
- • The fund targets €STR plus 2.5% returns (shares I & GP), with two additional funds in the absolute return credit range targeting 0.14% and 1.50% over €STR, representing differentiated risk-return profiles across the product suite.
- • The absolute return credit range accounts for approximately €2 billion of LBP AM's €12 billion in fixed income assets under management, demonstrating significant scale within the firm's credit investment platform.
- • Portfolio leadership combines deep market expertise: Henriette Le Mintier brings 25 years of experience across convertible bonds, arbitrage, volatility trading, and multi-asset mandates, while co-manager Bruno Watteyne has spent 17 years at LBP AM following prior roles at OFI AM and Allianz, supported by rates and credit specialist Agnès Specque.
Summary
LBPAM has achieved recognition for its Absolute Return Credit SRI fund following strong 2025 performance, securing The Hedge Fund Journal's UCITS Hedge award in the credit long/short strategy category for both annual and three-year performance periods ending December 2025. The award underscores the fund's ability to generate alpha through a disciplined investment process that combines top-down and bottom-up analysis across fixed income markets.
The fund's portfolio management team leverages substantial institutional experience in navigating credit and interest rate cycles. Co-portfolio manager Henriette Le Mintier has operated in financial markets since 2001, with career progression through convertible bonds, arbitrage, volatility trading, and multi-asset allocation roles at firms including DWS, La Francaise AM, and Equigest before joining LBP AM in 2021 to establish its absolute return product range. Her counterpart, Bruno Watteyne, brings 17 years of tenure at LBP AM combined with prior experience at OFI AM and Allianz. Both managers have navigated multiple market cycles, including significant credit stress periods and interest rate volatility. The team operates under the leadership of Brice Perin, head of the fixed income and credit division, with daily operational support from rates and credit specialist Agnès Specque.
The absolute return credit range currently comprises three distinct product tiers with differentiated risk and return targets. The award-winning fund maintains the highest return objective of €STR plus 2.5% (shares I & GP), while two companion funds target returns of 0.14% and 1.50% above €STR respectively (shares I). This tiered structure allows institutional investors to select risk profiles aligned with their capital allocation frameworks. Collectively, the absolute return credit range manages approximately €2 billion in assets, representing meaningful scale within LBP AM's broader fixed income platform of approximately €12 billion in assets under management.
The fund's portfolio management team leverages substantial institutional experience in navigating credit and interest rate cycles. Co-portfolio manager Henriette Le Mintier has operated in financial markets since 2001, with career progression through convertible bonds, arbitrage, volatility trading, and multi-asset allocation roles at firms including DWS, La Francaise AM, and Equigest before joining LBP AM in 2021 to establish its absolute return product range. Her counterpart, Bruno Watteyne, brings 17 years of tenure at LBP AM combined with prior experience at OFI AM and Allianz. Both managers have navigated multiple market cycles, including significant credit stress periods and interest rate volatility. The team operates under the leadership of Brice Perin, head of the fixed income and credit division, with daily operational support from rates and credit specialist Agnès Specque.
The absolute return credit range currently comprises three distinct product tiers with differentiated risk and return targets. The award-winning fund maintains the highest return objective of €STR plus 2.5% (shares I & GP), while two companion funds target returns of 0.14% and 1.50% above €STR respectively (shares I). This tiered structure allows institutional investors to select risk profiles aligned with their capital allocation frameworks. Collectively, the absolute return credit range manages approximately €2 billion in assets, representing meaningful scale within LBP AM's broader fixed income platform of approximately €12 billion in assets under management.
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