Following strong performance of convertible bonds over the last several years, savvy investors are beginning to take notice of the attractive characteristics of this unique asset class. The hybrid construction of convertibles can offer a compelling way to participate in risk on markets while offering some downside support during market pullbacks. Pier 88’s Investment Team posits that convertibles are a defensive way to gain exposure to growth stocks with less volatility. We believe the case study of pet medication and wellness company PetIQ, Inc. (“PETQ”) is demonstrative.
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