Miller Convertible Bond Fund Class C (MCFCX)

Overview

The company is a fund that focuses on investing a significant portion of its resources in convertible bonds. With a mandate to allocate at least 80% of its assets, which includes both net assets and any borrowings made for investment purposes, into convertible bonds, the fund is dedicated to leveraging the unique characteristics of these financial instruments. Convertible bonds are a type of corporate bond that can be converted into a predetermined number of the company's shares at certain times during its life, usually at the discretion of the bondholder. This investment strategy aims to tap into the potential upside of equity markets while still offering the fixed income benefits of bonds. The investment managers have a broad interpretation of what constitutes a convertible bond, extending their interest into synthetic convertible bonds and other securities they identify as having similar features to traditional convertible bonds.

Products and Services

• Convertible Bonds

  The core focus of the fund's portfolio is on convertible bonds. These are corporate bonds that bondholders can convert into a predetermined number of the company's shares, usually at the bondholder's discretion. This product is aimed at investors seeking the growth potential of equity investments with the relative safety of bonds, providing an attractive blend of risk and reward.

• Synthetic Convertible Bonds

  In addition to traditional convertible bonds, the fund invests in synthetic convertible bonds. A synthetic convertible bond is created through the combination of traditional bonds and options to provide a convertible bond-like investment without directly investing in actual convertible bonds. This innovative financial instrument is designed to mimic the behavior of real convertible bonds, offering an alternative way to achieve similar investment objectives.

• Securities with Convertible Bond Characteristics

  The fund’s investment strategy also includes investing in other securities that the advisors identify as having characteristics similar to convertible bonds. This broad category can include preferred stocks, warrants, and other financial instruments that offer both the potential for capital appreciation like equities and the income generation of bonds. This diversification strategy is aimed at optimizing the fund's portfolio for balanced growth and income.