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Miller Convertible Bond I (MCIFX) Fund Ranking and Research

Ranking, Research and Recommendation of Miller Convertible Bond I (MCIFX) Fund

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Graph of Miller Convertible Bond I Fund (MCIFX) ManagerFund Manager - Michael Miller

Fund Manager Information

Fund Manager Tenure: 9.8 years
Fund Family: Miller Investment
Fund Category: Convertibles
Fund Performance: May 30, 2016
Fundmojo Fund Grade: A (Score: 0.71)     (What does this score mean?)
Michael Miller, Vice President of Wellesley Investment Advisors, Inc, shares responsibility for the day-to-day management of the Fund as Co-Portfolio Manager and has been Co-Portfolio Manager of the Fund since March 1, 2010.  Get more insights on Michael Miller

 

Graph of Miller Convertible Bond I Fund (MCIFX) ProfileMiller Convertible Bond I Fund (MCIFX) Profile

Fund Profile and Description

Miller Convertible Bond I Fund seeks to maximize total return while keeping volatility low and preserving principal. Miller Convertible Bond I Fund invests at least 80% of assets in convertible securities including convertible bonds, convertible preferred stocks, and synthetic convertible securities of U.S. and foreign companies. It may invest in convertible bonds that have “put” provisions close to the original purchase price, investing in convertible securities with relatively short remaining maturities, and investing in bonds with a guarantee of principal by the issuer. Miller Convertible Bond I Fund is non-diversified.

 

Miller Convertible Bond I (MCIFX) Fund Strength What we like about Miller Convertible Bond I (MCIFX) Fund

Data for Miller Convertible Bond I Fund (MCIFX) as of May 30, 2016

  • Miller Convertible Bond I Fund (MCIFX) management has been with Miller Convertible Bond I Fund for 9.8 years
  • Miller Convertible Bond I Fund (MCIFX) has good short-term performance (1-year return -2.14% vs -8.61% Convertibles category median performance)
  • Miller Convertible Bond I Fund (MCIFX) has good mid-term performance (3-year return 5.57% vs 3.66% Convertibles category median performance)
  • Miller Convertible Bond I Fund (MCIFX) has good Long-term performance (5-year return 5.11% vs 4.30% Convertibles category median performance)
  • Miller Convertible Bond I Fund (MCIFX) ratio of up-years vs down years is greater than 2
  • Miller Convertible Bond I Fund (MCIFX) has a Morningstar rating of 4 and above
  • Asset base in Miller Convertible Bond I Fund (MCIFX) has been consistently increasing at a reasonable pace in the last 2 months. It shows investor confidence and market support
  • Miller Convertible Bond I Fund (MCIFX) has an annual stock turnover rate of 81.00% vs Convertibles average of 84.12%. It is good that Miller Convertible Bond I management does not trade extensively for its return.
  • Miller Convertible Bond I Fund (MCIFX) is less volatile than its peers as it has a 3-year Standard Deviation of 7.5, lower than category average of 9.16
  • Miller Convertible Bond I Fund (MCIFX) has a lower expense ratio than its Convertibles average: 0.94% vs 1.32%
  • Miller Convertible Bond I Fund (MCIFX) is a true no-load fund as it has no load and no 12b1 promotion, distributions, marketing expenses

Miller Convertible Bond I Fund (MCIFX) Weakness What we are cautious about Miller Convertible Bond I (MCIFX) Fund

Data for Miller Convertible Bond I Fund (MCIFX) as of May 30, 2016

  • Miller Convertible Bond I Fund (MCIFX) is less safe compared to its Convertibles peers
See Miller Convertible Bond I Fund (MCIFX) performance details as of May 30, 2016

 

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Compare Miller Convertible Bond I Fund (MCIFX)Compare with other top Convertibles category mutual funds

Aadditional top Convertibles mutual funds for your consideration

FundYear to Date1 Year3 year5 year
Miller Convertible Bond I2.87-2.145.575.11
AllianzGI Convertible D (ANZDX)-0.27-0.6211.129.00Compare
Franklin Convertible Securities Adv (FCSZX)3.48-0.566.656.17Compare
MainStay Convertible A (MCOAX)2.43-4.116.935.71Compare

See top fund managers for Convertibles Category Funds

 

Graph of Miller Convertible Bond I Fund (MCIFX) Net Asset TrackingMiller Convertible Bond I (MCIFX) Fund Net Asset

Track net asset change of Miller Convertible Bond I fund (MCIFX)

DateNet Asset
05/2016$765.71M
03/2016$731.57M
02/2016$680.69M
More historic net asset information on Miller Convertible Bond I Fund (MCIFX)

  

Graph of Miller Convertible Bond I Fund (MCIFX) Portfolio TrackingMiller Convertible Bond I (MCIFX) Fund Portfolio Allocation

Track portfolio allocation change of Miller Convertible Bond I fund (MCIFX)

DateCashStockBondOther
01/20163.23%0%27.24%0%
10/20151.73%6.36%24.23%0%
07/20150.96%5.93%26.36%0%
Click here to see more historic asset allocation information on Miller Convertible Bond I Fund (MCIFX)

 

graph of Miller Convertible Bond I Fund (MCIFX) Top 10 Position TrackingTop 10 Holdings in Miller Convertible Bond I (MCIFX) Fund

Discover what Miller Convertible Bond I Fund (MCIFX) manager is buying

Jan 30, 2016
Lgi Homes 144A Cv 4.25% [3.65%]
Barclays Bk [3.22%]
Jazz Investments I 1.875% [2.85%]
Echo Global Logistics Cv 2.5% [2.82%]
Impax Labs 144A Cv 2% [2.76%]
Atlas Air Worldwide Hldgs Cv 2.25% [2.76%]
On Semicon 144A Cv 1% [2.76%]
Calamp 144A Cv 1.625% [2.71%]
Ani Pharmaceuticals Cv 3% [2.67%]
Rtw Hldgs 5.625% [2.66%]

Oct 30, 2015
Miller [6.77%]
Lgi Homes 144A Cv 4.25% [4.23%]
Ttm Tech Cv 1.75% [2.99%]
Echo Global Logistics Cv 2.5% [2.92%]
Barclays Bk [2.91%]
Jazz Investments I 1.875% [2.84%]
Atlas Air Worldwide Hldgs Cv 2.25% [2.75%]
Calamp 144A Cv 1.625% [2.75%]
Ani Pharmaceuticals Cv 3% [2.72%]
Electncs For Imaging Cv 0.75% [2.71%]

Jul 30, 2015
Miller [5.93%]
Lgi Homes 144A Cv 4.25% [3.13%]
Ani Pharmaceuticals Cv 3% [2.96%]
Ttm Tech Cv 1.75% [2.88%]
Emergent Biosolutions Cv 2.875% [2.6%]
Jazz Investments I 144A 1.875% [2.57%]
Barclays Bk [2.55%]
Electncs For Imaging 144A Cv 0.75% [2.49%]
Impax Labs 144A Cv 2% [2.45%]
Rtw Hldgs 144A 5.625% [2.29%]
Click here for Stock Holding Change Map in Miller Convertible Bond I Fund (MCIFX)

  

Latest News on Miller Convertible Bond I (MCIFX) Fund

See what is happening with Miller Convertible Bond I Fund (MCIFX)

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Miller Convertible Bond I Fund (MCIFX) Related ResourcesSee more information on Miller Convertible Bond I (MCIFX) Fund

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