Robert L. Salvin
Head of Corporate and Tax-Exempt Credit
Mr. Salvin is Head of Corporate and Tax-Exempt Credit within Fixed Income. He is responsible for managing the corporate credit and municipal investment processes. In addition, Mr. Salvin is a portfolio manager of Putnam Convertible Securities Fund, Putnam Diversified Income Trust, Putnam Floating Rate Income Fund, Putnam High Yield Fund, Putnam Master Intermediate Income Trust, Putnam Premier Income Trust, and Putnam ESG High Yield ETF. Mr. Salvin is also responsible for covering the retail sector and portions of the non-cyclical market, as well as convertible securities. He joined Putnam in 2000 and has been in the investment industry since 1986.
|Putnam Global High Yield Bond Fund|
Holding the middle ground with convertible securities
With characteristics of stocks and bonds, convertible securities can help diversify a portfolio. This study highlights Putnam's active approach to managing a convertibles portfolio.
Consider convertibles to hedge against the risk of rising interest rates
It’s time, in our view, to think about new ways to diversify a portfolio by supplementing traditional fixed income allocations. Consider convertibles.
Higher rates are unlikely to detour convertibles
A common misperception of the convertibles market is that the returns of these securities are more dependent on interest rates ...
Positive climate for convertible securities
Today's low corporate default rate combined with attractive credit spreads and equity valuations provide an attractive climate for convertible securities,