Wellesley Asset Management’s Miller Mutual Funds Receive Five Star Ratings from Morningstar as of December 31, 2017

WELLESLEY, Mass.--()--Wellesley Asset Management is pleased to announce that the three mutual funds that it manages recently achieved Morningstar’s highest rating of FIVE STARS. Following are the ratings for the individual funds:


  • 10-year Morningstar Rating out of 43 Funds in the convertibles category as of 12/31/17


  • 3-year Morningstar Rating out of 82 Funds in the convertibles category as of 12/31/2017
  • #1 Performing Fund in the Morningstar US Convertible fund category, Since Inception (12/31/14) as of 12/31/17 (1 out of 86 funds)


  • 3-year Morningstar Rating out of 177 funds in the US Corporate Bond Category for period ending 12/31/17
  • Ranked in the Top 3rd Percentile in the Morningstar US Corporate Bond Fund Category Since Inception (12/31/14) as of 12/31/17

Ten years ago, Wellesley Asset Management launched its first mutual fund, the Miller Convertible Bond Fund. The firm now manages three funds in total with combined assets under management of over $1.2 billion.

Darlene Murphy, President of Wellesley Asset Management and Portfolio Manager, stated, “The Wellesley Team and I are very excited to receive a five-star rating from Morningstar. It further confirms our belief that long-term success comes from sticking to strategy, our investment process, and Wellesley Asset Management’s investing principles.”

“Ten years ago, when we introduced our first fund, we sought to build a convertible bond fund that could deliver relatively low volatility, relatively low correlation to stocks and bonds but that would still be able to deliver solid returns,” said Greg Miller, Wellesley’s CEO and Portfolio Manager. “So far we’ve been extremely pleased with the results.”

Michael Miller, Chief Investment Officer and Portfolio Manager added, “To have all three of our funds recently recognized by Morningstar with their highest rating is a testament to the ability of convertible bonds, as an asset class, to perform, even against a background of one of the longest running bull markets in history.”

About Wellesley Asset Management, Inc.
Trusted advisors to a global client base, Wellesley Asset Management (Wellesley) is an SEC registered investment advisory firm with over $2.5 billion assets under management. The firm specializes in the management of convertible bonds through separately managed accounts, mutual funds and a private fund. Wellesley serves high net-worth individuals, registered investment advisors, institutions, pensions, and other investment professionals. Founded in 1991, by Greg Miller, CPA and Darlene Murphy, CPA, CFP®, Wellesley invests in convertible bonds deploying absolute return-seeking strategies. Additional information about the firm is available at www.wellesleyinvestment.com.

Morningstar Class I Ratings for Miller Convertible Fund: 3-year: 3 stars; 5-year: 3 stars; 10-years 5 stars. The total number of funds in the Convertibles Category for the 3, 5 and 10-year periods are 82, 67 and 43 respectively. The total number of funds in the U.S. Corporate Bond Category for the 3-year period is 177. The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star.

© 2018 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Rankings are only one form of performance measurement. For current performance information, please call toll free 781-416-4000.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Miller Convertible Bond Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 781-416-4000. The prospectus should be read carefully before investing. The Miller Convertible Bond Fund is distributed by Northern Lights Distributors, LLC, member FINRA/SIPC. Wellesley Asset Management, Inc. and Northern Lights Distributors, LLC are not affiliated entities.

Investments in convertible securities subject the Fund to the risks associated with both fixed-income securities, including credit risk and interest risk, and common stocks. A portion of the Fund’s convertible securities may be rated below investment grade. Exchangeable and synthetic convertible securities may be more volatile and less liquid than traditional convertible securities. In general, stock and other equity security values fluctuate, and sometimes widely fluctuate, in response to activities specific to the company as well as general market, economic and political conditions. Lower rated fixed-income securities are subject to greater risk of loss of income and principal than higher-rated securities. The prices of lower rated bonds are likely to be more sensitive to adverse economic changes or individual corporate developments. All fixed-income securities are subject to two types of risk: credit risk and interest rate risk. When the general level of interest rates goes up, the prices of most fixed-income securities go down. When the general level of interest rates goes down, the prices of most fixed income securities go up.


Wellesley Asset Management, Inc.
Mary Lou Signorelli, 781-416-4000

Release Summary

Wellesley Asset Management’s three Miller Mutual Funds each achieved Morningstar’s highest rating of FIVE STARS as of December 31, 2017.


Wellesley Asset Management, Inc.
Mary Lou Signorelli, 781-416-4000