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Convertible Bond

Summary

Summary

KEY FACTS as of 09/30/2019


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

19 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

18 Years of Industry Experience

Supported By 76 Investment Professionals with 16 Years Avg. Industry Experience

Portfolio

Portfolio

Portfolio Breakdownas of 09/30/2019

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

Credit Quality Distributionas of 09/30/2019

Type Portfolio Index
A 1.7% 2.9%
BBB 5.0% 6.2%
BB 8.5% 9.8%
B 4.8% 9.9%
Not Rated 79.9% 68.3%

CHARACTERISTICS as of 09/30/2019

Portfolio Index
Portfolio Index
Average Coupon 1.70% 2.87%
Average Maturity 4.76 Years 5.64 Years

Performance

Performance

Convertible Institutional Composite

Average Annual Returns as of 09/30/2019

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
Gross of Fees 16.95% 3.77% 11.31% 7.54% 9.53% 9.72%
Net of Fees 16.04% 2.70% 10.15% 6.42% 8.55% 8.86%
ICE BofAML All Convertible Index 14.68% 4.00% 10.07% 7.29% 9.94% -

Calendar Year Returnsas of 09/30/2019

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Gross of Fees -2.53% 17.79% 13.65% -7.10% 7.12% 26.65% 13.06% -7.00% 16.14% 36.17%
Net of Fees -3.54% 16.56% 12.45% -8.11% 5.98% 25.46% 12.48% -7.54% 15.29% 35.18%
ICE BofAML All Convertible Index 0.15% 13.70% 10.43% -2.99% 9.44% 24.92% 14.96% -5.18% 16.77% 49.12%

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