Alternative Fixed Income for Dynamic Portfolios

The Miller Family of Funds provides access to convertible securities through two complementary strategy categories designed to enhance portfolio construction.

CORE LONG-ONLY STRATEGIES

Convertible-Based

These strategies invest primarily in balanced profile convertible bonds emphasizing bond‑like characteristics and modest equity participation. 

For our similarly managed mutual funds visit our Fund site.

Role in Portfolios

Balanced convertible bonds can serve as an enhanced fixed income solution - potentially offering more upside without taking on incremental risk. When paired with traditional fixed income, balanced convertible bonds can add diversification and alpha to portfolios.

HEDGED-MARKET NEUTRAL STRATEGIES

Convertible Arbitrage

These strategies utilize convertible arbitrage by taking long positions in convertible bonds and short positions in the underlying equities to capture relative value opportunities.

For our similarly managed mutual funds visit our Fund site.

Role in Portfolios

Convertible arbitrage strategies can provide an alternative source of return within fixed income and alternative allocations while maintaining a disciplined risk profile. Convert arb can add resiliency to portfolio construction - providing relatively steady, low-volatility and historically non-correlation returns, regardless of market direction. Convert arb seeks to capitalize on market volatility - a distinct advantage of this investment approach.

CORE LONG-ONLY STRATEGIES

Convertible-Based

These strategies invest primarily in balanced profile convertible bonds emphasizing bond‑like characteristics and modest equity participation. 

For our similarly managed mutual funds visit our Fund site.

Role in Portfolios

Balanced convertible bonds can serve as an enhanced fixed income solution - potentially offering more upside without taking on incremental risk. When paired with traditional fixed income, balanced convertible bonds can add diversification and alpha to portfolios.

HEDGED-MARKET NEUTRAL STRATEGIES

Convertible Arbitrage

These strategies utilize convertible arbitrage by taking long positions in convertible bonds and short positions in the underlying equities to capture relative value opportunities.

For our similarly managed mutual funds visit our Fund site.

Role in Portfolios

Convertible arbitrage strategies can provide an alternative source of return within fixed income and alternative allocations while maintaining a disciplined risk profile. Convert arb can add resiliency to portfolio construction - providing relatively steady, low-volatility and historically non-correlation returns, regardless of market direction. Convert arb seeks to capitalize on market volatility - a distinct advantage of this investment approach.

CORE LONG-ONLY STRATEGIES

Convertible-Based

These strategies invest primarily in balanced profile convertible bonds emphasizing bond‑like characteristics and modest equity participation. 

For our similarly managed mutual funds visit our Fund site.

Role in Portfolios

Balanced convertible bonds can serve as an enhanced fixed income solution - potentially offering more upside without taking on incremental risk. When paired with traditional fixed income, balanced convertible bonds can add diversification and alpha to portfolios.

HEDGED-MARKET NEUTRAL STRATEGIES

Convertible Arbitrage

These strategies utilize convertible arbitrage by taking long positions in convertible bonds and short positions in the underlying equities to capture relative value opportunities.

For our similarly managed mutual funds visit our Fund site.

Role in Portfolios

Convertible arbitrage strategies can provide an alternative source of return within fixed income and alternative allocations while maintaining a disciplined risk profile. Convert arb can add resiliency to portfolio construction - providing relatively steady, low-volatility and historically non-correlation returns, regardless of market direction. Convert arb seeks to capitalize on market volatility - a distinct advantage of this investment approach.

Separately Managed Accounts

Convertible bonds may be a suitable investment for absolute return oriented, long-term investors. Wellesley Asset Management offers separate account management for registered investment advisors, sponsored managed account platforms and other institutional investors. Convertibles can offer equity market exposure while seeking principal protection and the relative safety of bonds. Convertible bonds may outperform equities over complete bull and bear market cycles and do so with less volatility than a typical stock portfolio.

Learn More About SMA

 
 

Miller Family of Funds

Wellesley offers three mutual funds and an actively managed ETF that fit a variety of investor risk tolerances with the goal of outperforming equities and fixed income over full market cycles.

Visit Miller Family of Funds