Russell’s Vickers looks to convertibles for value

Russell Investments senior portfolio manager David Vickers is readying to invest in convertible bonds as he sees little value elsewhere.

Vickers, who has worked on Russell’s multi-asset fund range since joining the firm in December 2013, has “signed all the paperwork” to invest in an already-chosen convertible bond fund.

However he is waiting until the timing is right to make the investment.

He says: ”We may potentially be adding convertibles to the fund as right now not many things look cheap. We think equities will grind higher but we have to be nearing the end of it as it has gone on so long.

“Convertibles are flexible, allow us to dampen down risk on the portfolio while taking some upside as well.”

Vickers is preparing to make this investment through a mixture of cash and potentially trimming some equity exposure.