Convertible closed end funds invest mainly in convertible bonds and convertible preferred stocks. Convertible bond portfolios are designed to offer some of the capital-appreciation potential of stock portfolios while also supplying some of the safety and yield of bond portfolios. These securities thus act a bit like stocks and a bit like bonds.
Top Convertibles Funds
These top performing closed end funds are selected based on its year-to-date performance in 2014. Most of these convertible bond mutual funds are also rated among the best in their category. I have also provided some details about its management, performance, expense ratio, initial investment requirement, risk, top holdings, etc.
Best performing convertible closed end funds 2014 are:
- Calamos Convertible & High Income Fund (CHY)
- AllianzGI Convertible & Income Fund II (NCZ)
- Calamos Convertible Opportunities and Income Fund (CHI)
- AllianzGI Equity & Convertible Income Fund (NIE)
- AllianzGI Conv & Income (NCV)
- Bancroft Fund Ltd (BCV)
- Ellsworth Fund Ltd (ECF)
- Putnam High Income Securities Fund (PCF)
- Gabelli Convertible and Income Securities Fund (GCV)
- Advent Claymore Convertible Securities and Income Fund (AVK)