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Convertible Bond

Summary

Summary

KEY FACTS as of 02/28/2020


Strategy Inception Date
Sep 1985
Strategy AUM
$1.4 B
Benchmark
ICE BofAML All Convertible Index
eVestment Universe
US Convertibles

Vehicles


  • This strategy is available as a:
  • Separate Account
  • Mutual Fund
  • Managed Account (SMA)

PORTFOLIO MANAGERS

Alan Kurtz
Alan Kurtz

Portfolio Manager

20 Years of Industry Experience

Supported By 75 Investment Professionals with 17 Years Avg. Industry Experience

Related Content

During Equity Sell-Offs, Historically, Convertibles Have Offered Resilience
March 16, 2020

Historically, convertible bonds have offered the opportunity to maintain exposure to the long-term potential of equities while better withstanding sharp sell-offs and offering the potential for higher yields.

Convertibles: A Lower Volatility Approach to Equity Investing
December 5, 2019

Convertible securities historically have delivered an attractive return profile and lower volatility compared with traditional equities.

Portfolio

Portfolio

Portfolio Breakdownas of 02/28/2020

Type Portfolio
Type Portfolio
Convertible Bonds
Convertible Preferred Stock
Common Stock
Other
Cash

Credit Quality Distributionas of 02/28/2020

Type Portfolio Index
AA 2.0% -
BBB 3.5% 5.2%
BB 4.2% 8.2%
B 9.7% 12.0%
Not Rated 80.7% 69.6%

CHARACTERISTICS as of 02/28/2020

Portfolio Index
Portfolio Index
Average Coupon 1.53% 2.82%
Average Maturity 4.28 Years 5.21 Years

Performance

Performance

Convertible Institutional Composite

Average Annual Returns as of 02/29/2020

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
Gross of Fees 3.81% 17.87% 12.52% 8.93% 10.16% 9.96%
Net of Fees 3.64% 16.65% 11.36% 7.79% 9.15% 9.09%
ICE BofAML All Convertible Index -0.09% 11.59% 10.22% 7.75% 9.97% -

Calendar Year Returnsas of 02/29/2020

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Gross of Fees 26.06% -2.53% 17.79% 13.65% -7.10% 7.12% 26.65% 13.06% -7.00% 16.14%
Net of Fees 24.76% -3.54% 16.56% 12.45% -8.11% 5.98% 25.46% 12.48% -7.54% 15.29%
ICE BofAML All Convertible Index 23.15% 0.15% 13.70% 10.43% -2.99% 9.44% 24.92% 14.96% -5.18% 16.77%

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