Endowment fund hires Los Angeles firm for convertible arbitrage play

By Sayed Kadiri

A US endowment fund is seeking to limit its exposure to a rise in interest rates, by allocating $75 million to convertible bonds

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TAGS: Institutional investor

Comment by: Anonymous. Posted 4 years ago [2014-09-23 00:46:07]

Short the equity and go long the convertible bonds to protect against rising rates for the remainder of a fixed income portfolio? Why not plain vanilla interest rate hedges instead?