MFM Convertible Bonds Opportunities
The aim of this fund is to increase capital which implies long-term investments in convertible bonds, preference shares, option certificates and loans.
Economic fundamentals continued to deteriorate in the early fall. The manufacturing sector, in particular, experienced a severe contraction. The services sector however, continues to support the economy in most regions, as a globally robust labour market sustains healthy consumer spending. The first signs of a weakening of the service sector have popped up recently. Therefore, consumer sentiment is one of the most critical indicators in the short-term. In this environment, the outlook for global growth continues to be revised downward. Concurrently, the risk of a recession continues to increase.
Inflation, which remains strangely moderate, has allowed central bankers to implement accommodating policies. These policies reduce the...