Sponsored Links 
Top 3 Convertible Funds
Print
ShareConvertible securities offer an excellent choice for investors seeking capital appreciation, and principal protection. They are a particularly good choice during a challenging market, when interest rates and stock prices are volatile. However, these securities are often rather expensive and so become difficult for an individual investor to purchase. Mutual funds, however, offer easier access to these instruments with comparatively lower minimum investments.
Below we will share with you 3 top rated convertible funds. Each has earned a Zacks #1 Rank (Strong Buy) as we expect the fund to outperform its peers in the future. To view the Zacks Rank and past performance of all convertible funds, then click here.
Putnam Convertible Income-Growth A (PCONX) seeks current income and capital conservation and appreciation. At least 80% of its assets are invested in convertible securities, a significant portion of which are rated below investment grade. It focuses on large and mid-cap companies and securities with maturities of three years or more. The convertible fund returned 53.75% over the last one year period.
This convertible fund has a minimum initial investment of $500 and an expense ratio of 1.06% compared to a category average of 1.44%.
Franklin Convertible Securities A (FISCX) invests the majority of its assets in convertible securities and seeks to maximize total return. Not more than 10% of its assets are invested in securities rated below B or unrated securities of similar quality. The fund has a ten year annualized return of 6.04%.
As of October 2009, this convertible fund held 58 issues, with 3.01% of its total assets invested in Wesco International Convertible Bond 6%.
Calamos Global Growth & Income A (CVLOX) seeks total return over the long term through both capital appreciation and current income. Convertible, equity and fixed income securities in companies of all sizes worldwide make up the majority of its portfolio. At least 40% of its assets are used to purchase securities of foreign issuers. The fund returned 31.59% over the last one year period and has a five year annualized return of 6.34%.
The fund manager is John P. Calamos, Sr. and he has managed this convertible fund since 1996.
To view the Zacks Rank and past performance of all convertible funds, then click here.
About Zacks Mutual Fund Rank
By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward. Learn more about the Zacks Mutual Fund Rank at http://www.zacks.com/funds/mutualfund/.
Read the full analyst report on PCONX
Read the full analyst report on FISCX
Read the full analyst report on CVLOX
Loading Stories...
|
||||||||||||||
More Zacks Resources
More Zacks Links
| Market Summary | May 26, 2012 03:27 am ET |
-74.92