Low issuance is fly in ointment for convertible arbitrage sector

As with the rest of the financial world, the convertible bond arbitrage market is finding it hard to concentrate on matters other than the possibility of war. In the case of this particular sector though, the uncertainty that is unnerving other investors is benefiting convertible arbitrage funds.

Discerning fund managers in this strategy stand to do well, despite the lower issuance level, but returns are unlikely to be high, according to Dorothy Dewitt, manager of GAM's Multi Arbitrage fund of

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