Miller Convertible Plus Fund announces plans to launch

By Toni Weeks

San Luis Obispo, Calif., July 16 – Miller Investment Trust announced its plans to launch the Miller Convertible Plus Fund, according to an N-1A filing with the Securities and Exchange Commission.

The fund will seek to maximize total return through the use of leverage while preserving principal over full market cycles. Under normal conditions, it will invest at least 80% of its assets in convertible bonds, which may include synthetic convertible bonds.

Greg Miller and Michael Miller will be co-portfolio managers.

The fund will offer class A, class C and class I shares. The ticker symbols have not yet been determined.

Class A shares will incur a maximum sales load of 5.75%. Including management fees of 2.73% and taking into account the effects of an advisory fee waiver and reimbursement, net annual fund operating expenses are expected to be 3.22% for class A shares, 3.97% for class C shares and 2.97% for class I shares.

Wellesley Investment Advisors, Inc., based in Wellesley, Mass., will serve as the fund’s investment adviser.

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