Advent Convertible and Income Fund (NYSE: AVK) is a closed-end management investment company that seeks total return through a combination of current income and capital appreciation. The fund primarily invests in convertible securities, including convertible bonds and convertible preferred stocks, alongside a diversified mix of income-producing investments such as high-yield corporate bonds, common stocks and securities convertible into equity. By blending fixed-income and equity-linked instruments, the fund aims to balance income generation with growth potential across market cycles.
Advent Convertible and Income Fund implements a research-driven, bottom-up investment approach, focusing on issuers with strong fundamentals, attractive risk-reward profiles and favorable convertible terms. Portfolio managers employ fundamental credit analysis and equity valuation techniques to identify opportunities in both investment-grade and below-investment-grade markets. Active sector allocation, duration management and rigorous risk controls are central to the fund’s strategy, helping to navigate interest-rate fluctuations and equity market volatility.
Established in 1998 and organized under Maryland law, Advent Convertible and Income Fund benefits from over two decades of closed-end fund experience. The fund is advised by Advent Capital Management LLC, an investment advisory firm with a long-standing commitment to convertible security strategies. Advent Capital’s team leverages extensive market expertise and a collaborative research framework to uncover value across geographies and industries.
The fund’s leadership team comprises seasoned portfolio managers and analysts with deep specialization in credit markets, equity derivatives and convertible instrument structuring. While maintaining a primary focus on U.S. issuers, the fund also seeks select opportunities in developed international markets. This global outlook, combined with disciplined security selection and income optimization, positions Advent Convertible and Income Fund as a specialized solution for investors seeking enhanced yield with the participation benefits of equity markets.
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