Phoenix Convertible Income Strategy

The Advent Phoenix Convertible Income Strategy seeks high yields and capital gains by investing in a portfolio of "theoretically cheap" convertible securities that trade close to bond value. Such convertibles have often experienced a decline in market price due to temporary concerns, while fundamental credit strength remained intact. Often, the underlying stock is undervalued.

These convertible securities have high yields and provide potential price appreciation as they mature to par or as the stock price recovers.