Ever try to research bonds? It can add some security, being higher up on the creditor heap, but researching the many details can be confounding and very time consuming for the retail investor. Maybe leaving it to some “bond market pros” might be a solution.
That’s where Calamos Dynamic Convertible And Income Fund (CCD) comes in. It’s a closed end fund, a CEF, which “invests in convertibles and other below-investment-grade (high yield) fixed income securities with the aim of generating total return through a combination of capital appreciation and income. To help generate income and achieve a favorable risk/reward profile, the investment team can also sell options.
By investing at least 50% in convertibles, the fund seeks upside participation in equity markets with less downside exposure over a full market cycle. It actively allocates assets between convertibles, fixed income and equity securities to optimize risk-managed returns.”
It also has a