New York, April 1 - The UBS Warburg global convertibles index gained 2.9% in March but is down 0.3% year to date.
Within the overall figures, European convertibles - denominated in euros - gained 1.4% in March for a rise of 1.0% year to date while U.S. convertibles rose 3.7% in March but are flat year to date.
U.S. mandatories performed strongly in the most recent month, adding 4.1% but are still 4.4% lower for 2002 so far.
U.S. investment grade and U.S. below investment-grade and non-rated both rose in the month, adding 3.4% and 4.0% respectively, by the investment-grade group is up 0.7% year to date while the non-investment-grade securities are down 0.9%.
UBS Warburg Global Convertible Index
| March 29 | Feb 28 | Month % | Dec. 31 | YTD %
|
| Global | 132.6 | 128.9 | 2.9% | 133.0 | -0.3%
|
|
|
| European (€) | 136.9 | 135.0 | 1.4% | 135.5 | 1.0%
|
| US | 157.1 | 151.5 | 3.7% | 157.1 | 0.0%
|
|
|
| US Vanilla | 157.1 | 151.5 | 3.6% | 155.9 | 0.8%
|
| US Mandatory | 166.9 | 160.3 | 4.1% | 174.6 | -4.4%
|
|
|
| US IG | 141.0 | 136.3 | 3.4% | 140.0 | 0.7%
|
| US Sub BBB & NR | 163.1 | 156.8 | 4.0% | 164.5 | -0.9%
|
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