By David King, CFA, Senior Portfolio Manager, Head of Income and Growth Strategies
A surge in convertible issuance could change the landscape for this asset class.
How should investors think about the convertibles market?
Dave King: Convertibles are a way to pursue good risk-adjusted return through price appreciation and income. They complement traditional equity income allocations, offering some equity characteristics and some fixed-income characteristics. The casual observer may think that convertibles performance lands midway between the performance of stocks and bonds. But performance has been fairly consistent with the S&P 500 over the past 20