Short Duration Convertible Bond

Palisade’s Short Duration Convertible Bond strategy seeks to generate asymmetric returns by investing in short-term domestic convertible bonds. Palisade believes these securities are an under-utilized asset class and that a portfolio composed of short term convertible bonds may offer investors liquid, low beta, low volatility-type exposures. The team seeks to invest in bonds that have a strong likelihood to repay principal at maturity or put date, and strives to build portfolios having attractive upside/downside capture ratios, attractive yields, and strong cash flows.

Investment returns are expected to be driven by the optionality inherent in short-term, out-of-the-money convertibles while the structural benefits of a short duration portfolio priced near par value enhances capital preservation.

At-A-Glance As of December 31, 2019

Average Investment Experience

YEARS

Portfolios Initially Consist of

30-50

Short Duration Conv Bonds

Region Focus:

U.S.

Investment Style:

Absolute Return

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Investment Team


William W. Lee: Managing Director, Senior Portfolio Manager


Ray Lam, CFA: Senior Vice President &
Associate Portfolio Manager
Short Duration Convertible Bonds


Mitchell Leung, CFA: Senior Vice President &
Associate Portfolio Manager
Long Convertible Securities


Michael Chizmar: Vice President, Convertible Securities


Max Goddard: Analyst, Convertible Securities

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Posted in Market Commentaries: During this stressful time, we know that your health and safety, and the wellbeing of your family and friends, is your number one priority. Like all previous crises, we will recover a stronger nation. However, as the coronavirus (COVID-19) pandemic accelerates domestically and the U.S. economy, the strongest and largest on earth, has come to a grinding halt, many of our fellow citizens are significantly impacted. We are almost certainly in a recession, but the government response is of a size and scale that has never been seen before, even during the 2008 financial crisis. I am confident that the economy will endure and a three- to six-month bottoming process for stocks and corporate bonds has likely begun.; Read More

Monday, March 23, 2020
OPERATIONAL UPDATE
Posted in Announcements: As mentioned in our prior updates, all Palisade team members have the capability and tools to work from home for extended periods of time without any disruption to our investment management operations or your client experience. In fact, every Palisade employee has worked remotely for at least a portion of the past three weeks while our office technically remained open.; Read More

Monday, March 16, 2020
Palisade Operational Update
Posted in Announcements: Anxiety and fear are running high across the board, and with good reason, as the world is simultaneously dealing with two of the most sensitive topics for individuals: health and finances. We understand your concerns and want to once again reassure you that Palisade is operating smoothly during this difficult period.; Read More

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Traditional Strategies

Short Duration Convertible Bond

At-A-Glance As of December 31, 2019

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