"Look at the convertible asset class since the early 1970s through now," Calamos explains, "and you'll see it captured almost all of the upside of stocks with a third less risk, and significantly outperformed the bond market with the same amount of risk".
The investment universe of a multi-asset strategy is far more diverse and can include equities, conventional bonds, convertible bonds, currencies, commodity-related assets, private assets and alternative investments.
And in 2008, his office for the first time began investing city pension assets in convertible bonds, pouring $324 million into Advent Capital Management, the firm Mr. Maitland founded.
Swiss regulators, for example, want their biggest banks to hold the equivalent of 9% of their risk-weighted assets in convertible capital.
The state-owned Chinese aluminium producer will provide a $19.5 billion injection to the Anglo-Australian mining giant in return for stakes in some of Rio's mining assets and convertible bonds, which could eventually give Chinalco a near-20% stake in Rio.
The two partners got into NextWave in a big way just before the bankruptcy filing with a $5 million loan to the company, secured by tangible assets and convertible into 12 million shares.
The Australian, a newspaper, reported that Rio Tinto was looking at a combination of asset sales, convertible notes and share issues that would generate $15 billion total.
Mr. Gates's personal investment company, Cascade Investment L.L.C., agreed to buy a 10-year convertible note in Gabelli Asset Management Inc., Gabelli said.
Rio is reportedly looking at a combination of asset sales, convertible notes and share issues that would generate $15.0 billion in total and lift Chinalco's Rio stake to more than 11.0% from 9.0% now.
The Chinese miner was to pay $19.5 billion to buy Rio Tinto's iron ore, copper and other assets, along with convertible bonds.
