Gamco lanza un fondo de bonos convertibles

Columna de Michael Gabelli

Fecha:

frog-540812_640
Pixabay CC0 Public DomainRana y mariposa. Rana y mariposa
  1.  The Fund leverages the firm’s history of investing in dedicated convertible security portfolios since 1979. Multiple share classes will be available at launch and are tailored for Global institutional investors as well as select non-US retail investors. At the onset, the Fund will launch with an institutional founder’s class at a reduced fee.
  2. Global convertible bonds added 32.6% in 2020, the best year for global CBs since 2009 on an absolute total return basis, ahead of each global stocks, High Yield and IG bonds. As of year-end, $158.6bn of new CB paper was launched globally, the most in a year since 2007 when nearly $163bn came to market
  3. A handful of issuers dominated 2020’s large returns, mostly in the US and Asia. In the US, Tesla’s three tranches of CBs contribute about 41% of the US benchmark’s top-line performance, while Microchip, Zillow, Square, and Wayfair made up about 3%, 3%, 3%, and 2%, respectively. In fact the top ten issuers comprised about 61% of the index’s total return.