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Studies / Analysis on convertibles

Goldman Sachs - 01.03.2001

Convertibles as an Asset Class - 2000 Update

In 1992, Goldman Sachs sponsored a study of the long-term performance of the convertible market. Since the completion of the original study, we have encountered strong demand from our client base for a revision of the article’s data to include market movements since the end of 1992, particularly given the bond market volatility and the equity market strength through that period. For that reason, we have invited Ibbotson Associates for each of the past four years to update the analysis to include the most recent available data.

Lehman Brothers - 01.01.2001

Broadening The Horizon

The purpose of this study is to show how equity investors can benefit by adding convertibles to their portfolio.

Convertible and Warrant Bonds as Financing Instruments

A thesis on the following topics:

Swiss Institute of Banking and Finance of the University of St. Gallen - 01.05.2000

Convertibles - Replication and Use in 'BVG' Portfolios

A study on the following topics:

Institute of Swiss Banking of the University of Zurich - 01.03.2000

The Valuation of Convertibles

An intelligible thesis by Markus Zeder which ...

Württemberg - 01.01.2000

Capital Markets. Convertibles. A Hybrid For All Occasions?

Current developments in the convertibles market (as of 2002).
5 convertibles strategies (junk strategy, bond strategy, hybrid strategy, equity strategy, discount strategy)
Portfolio aspects (lowering volatility, diversification, added return in bond funds)
Alternative investments with convertibles (arbitrage - cash flow advantage, delta hedging)
Overview of convertibles (sorted alphabetically and according to 5 convertibles strategies)

Ibbotson Associates - 01.09.1993

Convertible Bonds as an Asset Class: 1952 - 1992

A study going back to 1973 by the US research firm Ibbotson Associates that shows that convertibles exhibit a disproportionately advantageous risk-return profile compared with equities and bonds.

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