Executive Summary

This report provides detailed information from European-based investors investing in Convertibles, including helpful benchmark data such as:

● Long market value
● Trading volume
● Leverage ratio
● Investment style

Graphic slides include:

  • Primary Investment Strategy for European Convertible Investors
  • Capital Flows for Convertible Portfolios Over the Past 6 Months
  • Total European Convertible Trading Volume for All Institutions
  • Change of Liquidity in Convertible Trading Over the Past Year
  • Changes in Investor Trading Behavior in Response to Lower Liquidity
  • Requirement for Broker Capital Commitment in European Convertible Trading
  • Use of Multi-Dealer Platforms for Convertible Trading
  • Important Considerations in Allocating Convertible Business
  • Payment for Convertible Research, Investment Ideas, Data or Analytics
  • Investor Interest in Convertible Research Services
  • Number of Brokers Used for European Convertibles
  • Concentration of Convertible Business
  • Use of Listed or “Listed Look-Alike” Options by Convertible Investors
  • Investment in Synthetic Convertibles – Outright Investors
  • Convertible Asset Allocation by Region
  • Investments in Asian and Japanese Convertibles
Methodology

Research is based on in-person and telephone interviews with 93 respondents between April and June, 2015. The data in this report is based upon aggregated results from individuals participating in the study.

Buy-side institutional investors were asked to provide quantitative and qualitative evaluations of the broker-dealers they use as well as detailed information on important market trends.