A properly managed portfolio of convertible securities offers your insurance company several important benefits:

• The ability to capture the majority of the stock market's upside with a risk profile, or volatility of returns, similar to bonds
• Preservation of capital due to the downside protection inherent in fixed income instruments
• Improved risk-based capital and BCAR versus equity securities
• Enhanced portfolio diversification

The goal of our convertible strategy is to enhance long-term portfolio returns. To achieve these results, we rely on a proprietary valuation model/methodology that identifies undervalued convertible securities exhibiting favorable risk/return characteristics. Our investment management team's considerable experience with convertible securities provides an opportunity to significantly increase the return of your portfolio without incurring the risk profile of equities.

To learn more about our convertible strategy, please visit our sub-advisor's website, www.zazove.com