Convertibles and M&A given a breath of new life, managers say

Convertible bonds may have turned the corner, according to issuance data, although one set of redemptions in September could still hit this strategy's funds.

Coronation Fund Managers notes activity in convertibles "picked up significantly" during June, with $4.6bn of deals in the US, including $2.07bn for Metlife, complemented by €437m from CapGemini and Sfr430m from Lonza Group.

While credit concerns and equity volatility caused convertibles to begin June on a "slightly weaker note," the fund of

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