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MacKay Strategies

Philosophy & Process

MacKay Shields investment teams utilize their own philosophy, processes, and experience to add value across capital markets.

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2Q 2025 Specialty Fixed Income Outlooks

Explore key trends shaping the fixed income market with perspectives from our specialty fixed income teams. MacKay Shields examines the evolving risk and return dynamics in global fixed income.

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We strive to meet the objectives and values of our clients; care for our employees; and promote the well-being of the communities in which we invest, work, and live.

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Leader In Specialty Fixed Income

We are dedicated to investing for trusted clients globally, while ensuring the health of our company culture and the prosperity of our local communities.

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MacKay Shields Convertibles

We research and identify opportunities from asymmetric returns of convertible securities.  We strive to participate in the upside of the equity markets, while managing downside risk.  

Overview

Overview

          

Our bottom-up fundamental research is designed to find attractive converts that balance debt and equity with the features a bond structure offers.

Strategies

Strategies

Convertible Strategies

          

STRATEGY
SEPARATE ACCOUNT
COLLECTIVE INVESTMENT TRUST
MUTUAL FUND
FACT SHEET

Convertibles

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Convertibles Low Tracking Error

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Convertibles Team

Convertibles Team

Convertibles Team



Our team began working together in 1999
and has employed a disciplined valuation process throughout our tenure.

Meet the Team
Convertibles Team

          

          


“Our years of experience have taught us to adhere to our repeatable, disciplined investment process such that we strive to capture the favorable risk/reward potential uniquely offered by converts.”— Edward Silverstein, Team Head  

          

Insights

Insights

          

FEATURED INSIGHTS

3 MIN READ
January 2, 2025
Convertibles 1Q25 Outlook
Convertible 2024 Fourth Quarter Update and 2025 Outlook
3 MIN READ
October 9, 2024
Convertibles 4Q24 Outlook
Convertible 2024 First Half Update and 4Q Outlook
3 MIN READ
July 16, 2024
Convertibles 3Q24 Outlook
Convertible 2024 First Half Update and 3Q Outlook
5 MIN READ
September 28, 2023
Convertibles 4Q23 Outlook
Look ahead on convertible bonds to see what sets this asset class apart from traditional straight bonds.
2 MIN AUDIOGRAM
August 30, 2023
MacKay Shields Convertibles Market Update – August 2023
Edward Silverstein, Head of Convertibles at MacKay Shields shares his observations of the Convertibles market for August 2023.
5 MIN READ
July 12, 2023
Convertibles Mid-Year-Outlook
Look ahead on convertible bonds to see what sets this asset class apart from traditional straight bonds.
3 MIN VIDEO
June 27, 2023
Downside Mitigation and Upside Exposure
Edward Silverstein delves into the historical volatility and performance of convertible bonds and presents a compelling case towards risk-averse investors.
January 4, 2023
Issuance, Interest Rates, and Investment Process
Edward Silverstein, Head of Convertibles, gives his outlook on convertibles as an asset class in 2023, their investment process, and more.
4 MIN READ
July 31, 2022
Convertibles 2022 Mid-year Outlook
As the rate differential rises between convertibles and straight bonds the quality of companies issuing converts will likely improve.
May 31, 2022
Low Delta Convertible Opportunities
Seeking to reduce interest rate and inflation risk? We see opportunities in the low delta part of the convertibles space.
6 MIN READ
May 16, 2022
Convertibles: Why Now?
At 2% of the US investment-grade market and 15% of the US high yield market, US convertibles are often overlooked by investors.
5 MIN VIDEO
DECEMBER 14, 2021
Convertibles Team - 2022 Outlook
Convertibles Team - 2022 Outlook
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