Advent Capital Balanced Strategy Update
BALANCED STRATEGY PERFORMANCE
Efficient Frontier
Return (Annualized)
11%
10%
9%
8%
7%
6%
5%
4%
0%
Bloomberg Barclays Agg
2%
4%
IG Corporate
(COAO)
Credit Suisse
Leveraged Loans
6%
60/40 Blend
HY Corporate
(HOAO)
10 Year Treasury Bonds
(GA10)
Advent Balanced
Convertible Strategy (Gross)
10%
Convertible Bonds
(VXA0)
8%
12%
Risk (Annualized Standard Deviation)
14%
ADVENT
CAPITAL MANAGEMENT, LLC
S&P 500 Index
16%
Russell 2000 Index
18%
Source: Bloomberg, Advent Capital Management, LLC, ICE Data Services. Data set is from October 1995 (the inception of the Balanced Convertible Strategy) through July 2020. "T Bills" represent the three month Treasury Rate. GA10 represents the ICE BofA Current 10-
Year US Treasury Index. COAO represents the ICE BofA Corporate Master Index. HOAO represents the ICE BofA US High Yield Index. VOAO is the ICE BofA All US Convertibles Excluding Mandatories Index. 60/40 Blend represents a blend of 60% S&P 500 and 40% Bloomberg
Barclays Capital US Aggregate Index. Returns presented on a gross basis are substantially higher than returns presented on a net basis because gross returns do not reflect the deduction of investment advisory fees and other expenses that would be incurred by a client.
Investment advisory fees have a compounding effect in reducing the value of a client portfolio over time. Past performance is not a guarantee of future results. Please see the "Disclosures" section at the end of this presentation.
20%
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