Our asset management audience have indicated to us that the valuation of convertible bonds is of special interest to them. There are over 100 convertible bond public mutual funds, and these instruments are also widely held in private equity and hedge funds. Private firms use convertibles regularly as part of their financing techniques and convertible arbitrage is a perennially popular hedge fund strategy.
Our conversations with the valuation teams at these funds suggest that there is some dissatisfaction with the quality and transparency of some of the pricing coming from the current vendors providing such services. It is not always clear how the valuations are produced, and the price levels are frequently wide of the mark.
This webinar aims to address this question, looking at the theory and methodology for pricing convertible bonds and how this should be deployed in practice. It will be of use to all investment professionals involved in valuing these complex instruments.
This webinar and associated Special Report is part of our Current Issues in Valuation series, which looks at the challenges and topical issues of valuation in a range of asset classes.
Webinar passes are free and can be booked using the button on the left
Ian Blance is Managing Director of Voltaire Advisors. Ian has over 30 years’ experience in the financial markets focused on research and valuation of securities and derivatives. He is a regular commentator on valuation and risk issues in the media and a frequent conference speaker. In his earlier career Ian developed and ran securities valuation operations for two of the five major information vendors and has provided consulting services for the others. Ian spent 4 years as Head of Evaluated Pricing for SIX Financial Information, based in Zürich, Switzerland and 12 years with Interactive Data Corporation, setting up and building their fixed income valuations business in London and subsequently becoming Managing Director of the market leading Evaluated Pricing unit in New York. Before Interactive Data, Ian was an economist and senior bond strategist in investment banking.
Harris Antoniades is a Managing Director at Stout and leads the complex securities & financial instruments practice with over 20 years of experience in complex securities and derivatives valuations, advance financial analytics, and risk management issues. Harris' valuation experience encompasses a broad range of asset classes, including all types of derivatives, structure products, fixed income securities, and share based awards for financial and tax reporting purposes. He has also provided valuation advisory services to public and private companies, boards of directors, and other fiduciaries in connection with strategic planning, merger & acquisition investment decisions, bankruptcy and reorganization, shareholder disputes, and other corporate, tax and litigation related matters.