INSIGHT

SPOTLIGHT

SPOTLIGHTTAP THE EXPERTSLEARNING RESOURCES

George Douglas, CFA

Chief Investment Officer

SSI Hedged Convertible Opportunity Strategy 2016 Performance & 2017 Outlookread more

George Douglas, CFA

SSI CONVERTIBLES: 2017 Market Outlook

February, 2017

For 2016, strong underlying equity performance was a major driver of convertible total returns, as was massive spread tightening particularly in the lower grade credits. As such, the equity-sensitive and credit sensitive portions of the convertible universe outperformed traditional balanced, convex convertibles, a rare occurrence in an asset class where the balanced convex zone typically represents the best risk-reward tradeoff…read more

Ethan Ganz

Ethan Ganz

Associate Portfolio Manager

Ravi Malik, CFA

Ravi Malik, CFA

Portfolio Manager

Principal


Portfolio Manager 

A 60% stock / 40% bond portfolio has been generally accepted as the standard allocation for many decades.  For the most part, it has served the investment community well as solid gains from its widely used benchmarks, the S&P 500 and the Barclays US Aggregate Bond Index (“AGG”), resulted in the 60/40 model outperforming most mutual funds and hedge funds.  However, as we look forward, there are several challenges facing the traditional 60/40 model.  In fact, its risk/return profile is likely to be less attractive than several other portfolio structuresread more

Steve Wachtel, CFA

Portfolio Manager

Portfolio Manager 

Looking Beyond the 60/40 Portfolio

February, 2017

In an environment of rising rates and stock prices, like the one we’re currently in, convertibles help minimize downside risk while participating in the upside of the stock market. SSI’s Portfolio Management team walks investors through the details of convertible strategies and their significant diversification benefits for both stock and bond investorsread more

The Forecast for Interest Rates is Changing. Is it time to add Convertible Bonds?

May, 2017

The outcome of the November 2016 Election reshaped expectations of economic growth, leading to an investor repositioning commonly referred to as “The Trump Trade”. Although US and Global Economic Indicators started to bottom out in the middle of 2016, positioning for an accelerating US economy really gathered momentum after the election. Expectations of a large fiscal stimulus, deregulation and infrastructure spending shifted prospects for economic growth into a higher gear, leading to a sharp steepening of the yield curve (10 year treasury yield –2 year treasury yield) read more

Ravi Malik, CFA

Ravi Malik, CFA

Portfolio Manager

Principal


Portfolio Manager 

The Great Unwinding of “The Trump Trade”

June, 2017

George Douglas, CFA

Chief Investment Officer

As alpha becomes increasingly scarce to find in the hedge fund space, the inclusion of a convertible arbitrage component to a portfolio can help reduce the risk of alpha shortfall.  Here are some elements to help you understand and explain the logical math behind why convertible arbitrage deserves serious consideration for inclusion in portfoliosread more

George Douglas, CFA

The Return Composition of Convertible Arbitrage and why it Matters

July, 2017

CONVERTIBLES: 2017 Mid-Year Review and  Market Outlook

July, 2017

2017 is turning out to be a strong year for convertibles after a solid 2016. The BofA ML All US Convertibles Index (VXA0) returned +7.9% through June 2017, an 85% capture of S&P 500 total return. The underlying universe is comprised of large and mid-cap companies. In that context, the index captured more than 100% of the Wilshire 5000’s +7.7% return. The asset class is highly convex at this point in time, and average dollar prices have moderated towards par (as you can see in below Chart 1), compared with the recent past…read more

Ethan Ganz

Ethan Ganz

Associate Portfolio Manager

Ravi Malik, CFA

Ravi Malik, CFA

Portfolio Manager

Principal


Portfolio Manager 

HISTORY TEAM PHILANTHROPY
SPOTLIGHT TAP THE EXPERTS LEARNING RESOURCES

9440 Santa Monica Blvd., Suite 800, Beverly Hills, CA 90210  Tel: (310) 595-2000  Fax: (310) 595-2089

 © 2016 SSI Investment Management Inc. All Rights Reserved. Use of this website is governed by the Terms and Conditions

|

|

|

|

STRATEGIES INSIGHT LIBRARY HOME ABOUT SSI HOME

HOME     |     CONTACT US     |   COMPOSITE PRESENTATION    |    SITEMAP     |     LEGAL DISCLOSURE