Convertible Securities: The Asset Class

What are Convertible Securities?

Convertibles are hybrid corporate securities that embody the characteristics of both bonds and equities since they can be converted into shares of the issuer’s common stock. Convertible securities provide an opportunity for investors to participate in the upside of equity markets while also offering potential downside protection. As investors navigate volatile markets, convertibles may help mitigate risks stemming from the uncertain path of interest rates and/or overly bullish equity prices.

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