Best Performing Convertible Closed End Funds 2014

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Convertible closed end funds invest mainly in convertible bonds and convertible preferred stocks. Convertible bond portfolios are designed to offer some of the capital-appreciation potential of stock portfolios while also supplying some of the safety and yield of bond portfolios. These securities thus act a bit like stocks and a bit like bonds.

Top Convertibles Funds

These top performing closed end funds are selected based on its year-to-date performance in 2014. Most of these convertible bond mutual funds are also rated among the best in their category. I have also provided some details about its management, performance, expense ratio, initial investment requirement, risk, top holdings, etc.

Best performing convertible closed end funds 2014 are:
    Top Convertible Closed End Funds
  1. Calamos Convertible & High Income Fund (CHY)
  2. AllianzGI Convertible & Income Fund II (NCZ)
  3. Calamos Convertible Opportunities and Income Fund (CHI)
  4. AllianzGI Equity & Convertible Income Fund (NIE)
  5. AllianzGI Conv & Income (NCV)
  6. Bancroft Fund Ltd (BCV)
  7. Ellsworth Fund Ltd (ECF)
  8. Putnam High Income Securities Fund (PCF)
  9. Gabelli Convertible and Income Securities Fund (GCV)
  10. Advent Claymore Convertible Securities and Income Fund (AVK)
  11. Advent Claymore Convertible Securities and Income Fund II (AGC)

Calamos Convertible & High Income Fund

This Calamos Convertible & High Income Fund has a high rating of 4 by Morningstar. The fund has a high yield of 8.22%. The current market price is $14.46. The fund manager is John Calamos. This popular fund has high assets of $1.4 billion.

More: Calamos Global Growth & Income Fund

This best convertible securities fund has a 3 year average return of 15.67%. The average duration is 6.36 year. Top 3 sectors are convertibles debt, corporate debt, and convertible preferred debt.

AllianzGI Convertible & Income Fund II

This AllianzGI Convertible & Income Fund II has total assets of $854 million. It uses its assets to purchase convertible and non-convertible income producing non-investment grade securities. The expense ratio fee is 1.18%. This CEF fund has a high yield of 11.30%.

This top convertible closed end fund has YTD return of 10.34% in 2014. It has returned 15.95% over the past 3 year, and 17.64% over the past 5 year. Top 3 holdings are Cenveo 7% 7.00 15 May 2017, Bank of America Preferred 8.00 10 Feb 2015, and Felcor Lodging Tr Cv.

Putnam High Income Securities Fund

Putnam High Income Securities Fund is managed by Eric Harthun and Robert Salvin. The total net assets are $147 million. The fund performance for the past 3 years:
  • Year 2014: 5.14% (YTD)
  • Year 2013: 10.10%
  • Year 2012: 10.37%

NoFund Name (Ticker)1 Year Market Return %Lipper RankExp RatioDist Yld (Market)
1Calamos Conv & High Inc (CHY)22.23%91.50%7.83%
2AllianzGI Conv&Income II (NCZ)15.60%171.18%11.17%
3Calamos Conv Opp Inc (CHI)14.79%251.49%8.43%
4AllianzGI Eq & Conv Inc (NIE)13.21%341.09%7.35%
5AllianzGI Conv & Income (NCV)11.00%421.21%11.31%
6Bancroft Fund Ltd (BCV)10.83%501.10%2.83%
7Ellsworth Fund Ltd (ECF)9.97%591.10%2.77%
8Putnam High Income Secs (PCF)7.27%670.45%5.01%
9Gabelli Conv & Inc Secs (GCV)5.61%751.70%8.00%
10Advent Clay Conv Secs (AVK)3.39%842.37%6.50%
11Advent Clay Conv Secs&In (AGC)-1.15%923.09%8.31%

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