CHI owns a lot of converts so you may want to consider the top ten holdings
Sector and Holdings Summary top
As of 4/30/2007
Holding Dollar Value % of Total Portfolio
MetLife, Inc. Cv Pref N/A 2.2
Lehman Brothers Holdings, Inc. N/A 2.1
Intel Corp. 2.950% 12/15/35 N/A 2
Fortis Insurance, N.V N/A 2
Ford Motor Cap Trust II N/A 1.9
Interpublic Group of Companies, Inc. 5.700% 06/15/09 N/A 1.8
AES Trust III Cv Pref N/A 1.8
Mandalay Resort Group 8.380% 02/01/11 N/A 1.6
Washington Mutual, Inc. Cv Pref N/A 1.51
Citigroup, Inc. N/A 1.5
SInce I noticed the dividends dont change, Im assuming that they dont pay what they earn. Meaning that distributions are paid out of earnings AND NAV if not enough earnings. Does great if the stock market is up otherwise beware. Calamos is a great name for converts
CHY looks like a clon
Sector and Holdings Summary top
As of 4/30/2007
Holding Dollar Value % of Total Portfolio
MetLife Inc. Cv Pref N/A 2.2
Intel Corp, 2.950% 12/15/35 N/A 2
Fortis Insurance, N.V. (Assurant, Inc.) N/A 1.9
EMI Group, PLC 9.750% 05/20/08 N/A 1.7
Interpublic Group of Companies, Inc 5.700% 06/15/09 N/A 1.7
Lehman Brothers Holdings, Inc. N/A 1.5
Citigroup, Inc. N/A 1.5
Electronic Data Systems Corp 3.880% 07/15/23 N/A 1.5
Xerox Corporation 7.630% 06/15/13 N/A 1.5
Washington Mutual, Inc. Cv Pref N/A 1.4
If you notice most of the coupons on these and the convert features they are more likely earning about 3 or 4% after fees so the market better go up or you NAV is a droppin. Good luck! |
