Advent Capital announces launch of new global convertible fund

By Wendy Van Sickle

Columbus, Ohio, Aug. 5 – Advent Capital Management UK Ltd. announced on Wednesday the launch of its Advent Global Convertible Fund, which it said “seeks a positive total return by investing primarily in convertible bonds and convertible preferred securities in any geographic location.”

The Undertakings for Collective Investment in Transferable Securities (Ucits)-regulated umbrella fund is domiciled in Ireland, according to a press release.

In April, the firm launched 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 firm has a bottom-up approach to security selection that will be used in the new fund.

The fund will be co-managed by Hart Woodson and David Hulme.

Woodson has 30 years of industry experience. He joined Advent from Gamco Investors where he managed the Gabelli Global Convertible Securities Fund. He has also held positions at ABN AMRO Bank in the Netherlands and Meridien International Bank, according to the release.

Hulme has worked in the investment industry for 21 years. He joined Advent from Van Eck Global Asset Management where he served as investment director and co-managed global emerging market equity funds. He also held positions at Peregrine Asset Management and in the Financial Markets group at PriceWaterhouse, the release states.

Advent Capital is an investment adviser based in New York.

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