In the latest Big Debate, the manager of one of the largest funds in the sector will discuss Global Convertibles.
The global convertibles sector is much smaller than the higher yield or investment grade bond markets, but over the business cycle can offer a good return at a much lower volatility than the other fixed income sectors. But there are not a huge number of funds investing in global convertibles and historically many investors miss the big opportunities in the sector, such as post the Lehman's crash, and focus when performance has picked. How does the sector work, what are the opportunities with convertibles, and should they be viewed as an equity or a fixed income investment, and where should they fit into portfolios. This Big Debate with the manager of one of the largest funds in the sector will discuss all these issues.
On the panel:
Leonard Vinville, fund manager, European equity team at M&G
Europe is benefitting from a valuation discount to the US in terms of P/E and dividend yield, as well as an improving outlook overall.
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Will provide support for existing clients
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Will concentrate on building fixed income business