U.S. Convertible Securities
|Inception date||Benchmark||Total strategy assets†||Product literature|
|July 31, 1993||BofA Merrill Lynch All U.S. Convertibles Index||$736.9M (As of July 2017)||Strategy profile (PDF)|
The portfolio seeks, with equal emphasis, current income and capital appreciation. Its secondary objective is conservation of capital.
- Convertible securities offer strong capital appreciation potential with contractually guaranteed income
- As a large part of the investment process, the team will use less efficient areas of the convertibles market to pursue performance
- The team is comprised of experienced managers providing analysis of both the equity and fixed income exposures that exist in convertibles. They are supported by Putnam's credit research team, which helps to identify opportunities in lower credit quality and unrated securities
Manager commentary | Q4 2016
Convertibles less sensitive to interest rates
Portfolio Manager Rob Salvin talks about the impact of rising rates on convertible securities.
†Assets may include accounts that are not reflected in the composite.
**No assurance can be given that the investment objective will be achieved or that an investor will receive a return of all or part of his or her initial investment. Actual results could be materially different from the stated goals. Investors should carefully consider the risks involved before deciding to invest. See the product profile for a summary of risk considerations. As with any investment, there is a potential for profit as well as the possibility of loss.