Advent Capital Launches UCITS-Compliant Global Convertibles Fund

Aug 5 2015 | 1:55pm ET

Advent Capital Management’s UK unit has launched a new UCITS-compliant convertibles fund. 

The Advent Global Convertible Fund is domiciled in Ireland and seeks a positive total return by investing primarily in convertible bonds and convertible preferred securities in any geographic location, according to a press release. 

The new fund is the second UCITS vehicle launched by Advent so far this year. In April, the firm debuted the Advent Global Absolute Return Fund, an alternative investment UCITS fund that uses multiple investment strategies, such as relative value and event-driven investments. 

“The launch of our UCITS fund earlier this year was met with overwhelming enthusiasm from our investors,” said Kris Haber, Advent Capital’s COO. “Clients have been asking us to develop regulated, commingled vehicles that harness our leadership in both multi-asset alternative investments and convertible bond investing. These two offerings are our response to investor demands.”

The new UCITS fund will be co-managed by former GAMCO convertible bond specialist Hart Woodson and former Van Eck Global Asset Management investment director David Hulme.

Advent Capital Management has been managing UCITS funds since 2009, and currently runs approximately $600 million in UCITS assets on both a direct and subadvised basis. 

Founded in 1995, Advent as a whole manages approximately $8.7 billion in assets on behalf of corporations, public pension plans, foundations, endowments and high net worth individuals globally. 

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