Advent Capital Balanced Strategy Update
BALANCED STRATEGY CHARACTERISTICS
Delta Distribution Illustrates the Portfolio's Focus on Positive Asymmetry
As of July 31, 2020
25%
20%
15%
10%
5%
0%
<10%
10%-20%
20%-30% 30%-40% 40%-50%
ADVENT
CAPITAL MANAGEMENT, LLC
Balanced Representative Portfolio
50%-60% 60%-70% 70%-80% 80%-90%
ICE BofA All U.S. Convertibles (VXAO)
>90%
Source: Kynex, ICE Data Services. Portfolio characteristics above are for a representative portfolio within the Balanced Convertible Institutional Composite. This information is shown to exemplify Advent's research and analysis
process only. The analysis is based on industry sources that we believe to be accurate. Advent makes no representation, however, as to the accuracy of this information. This is not a recommendation to buy or sell any specific
security.
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