Insights

This paper examines why convertibles should be given full and fair consideration by investors even though the asset class’ positive asymmetry, demonstrating more equity-like characteristics on the upside and more bond-like attributes on the downside, is not always included in optimization models.

Advent Capital Management’s Barry Nelson explains what a convertible security is and why convertibles are an attractive investment option.

This paper updates an earlier version published in September 2014. We have extended our data set and added analysis of returns by rating bands. Our conclusions remain the same.

Convertibles, Capturing the Upside with Meaningful Downside Protection

Convertibles have historically performed well in a rising interest rate environment.

This paper examines the impact rising rates are likely to have on high yield bond performance.