Invesco Convertible Securities Fund CNSAX

Invesco Convertible Securities Fund (CNSAX) is a balanced mutual fund. It focuses its investment on convertible securities and high yield bonds.

Invesco Convertible Securities A (Ticker: CNSAX)

The investment objective of Invesco Convertible Securities Fund is to seek a high level of total return on its assets. It invests >80% of its net assets in convertible securities. It may invest in high yield bonds or junk bonds, common stocks, non-convertible preferred stock, and/or foreign securities. This balanced fund was first introduced to public market in July 1997. The fund’s manager is Ellen Gold.

Fund Details

• Fund Inception Date: Jul 27, 1997
• Ticker Symbol: CNSAX
• CUSIP: 00888W403
• Beta (3yr): 1.06
• Rank in category (YTD): 4%
• Category: Convertibles
• Distribution: 2.05%
• Capital Gains: 0%
• Expense Ratio: 0.97%
• Net Assets: $ 875.90 million
• Number of Years Up: 9 years
• Number of Years Down: 5 years
• Average Duration: 1.03 years
• Annual Turnover Rate: 38.00%

updated on 10/29/2012

This convertibles fund has annual expense ratio of 0.97%. This fee is lower than the average in the category which is 1.13%. There is 0.25% management fee and 5.50% front-end sales load. The total net assets are $875.90 million. The annual portfolio turnover as per September 12, 2012 is 38%.

Best Convertible Securities Mutual Funds 2012

Morningstar analysts rank this convertible stock fund with 3-stars rating. This Invesco fund has YTD return of 9.62%. The best 1-year total return was recorded in 2009 with 43.78%. It has recorded in 9 years of positive return and 5 years of negative return. BofA Merrill Lynch All Convertible Securities Index is the fund’s benchmark. Based on the load adjusted return, the performance of this fund is as below:

• 1-year: 2.59%
• 3-year: 9.02%
• 5-year: 3.98%
• 10-year: 7.10%

Investors, who are interested in this fund, can buy this Invesco Convertible Securities Fund with minimum initial investment of $1,000. The minimum subsequent investment for brokerage account is $250 and $50 for retirement account. This fund is available for purchase through 74 brokerages, such as JP Morgan, Bear Stearns, Raymond James, JP Morgan, Td Ameritrade Inc, Morgan Stanley Advisors, Schwab Institutional, etc. The other classes of this fund are Class C (CNSCX) and Class Y (CNSDX).

Best Performing Balanced Mutual Funds 2011

The top 10 holdings of this fund as of July 2012 are Equinix Inc (1.80%), Gilead Sciences Inc (1.72%), Wells Fargo & Company (1.68%), Bank of America Corp (1.55%), TW Telecom Inc (1.40%), MGM Mirage Inc (1.36%), Alliance Data Systems Co (1.33%), Teleflex Inc (1.31%), Sandisk Corporation (1.29%) and SBA Comunications Corp (1.27%).

According to the fund prospectus, the principal investment risks include convertible securities risk, derivatives risk, fixed income securities, common stocks and other equity securities, foreign securities risk, synthetic securities risk, etc.

Disclosure: No Position