Brian J. Kim

Provides auditing, assurance, consulting and tax & business consulting services

Provides auditing, financial advisory and tax consulting services

Inflective Asset Management provides investment management services for both traditional outright convertible and convertible arbitrage strategies. The firm seeks to provide solid, stable and consistent growth through both hedged and unhedged convertible security strategies that produce superior long-term portfolio performance. Inflective's hedged convertible investment strategy focuses on making a simultaneous purchase of a convertible security and the short sale of its underlying common stock. They seek to isolate mispriced elements within two highly correlated securities. These positions are not designed to capture the returns of a rising market and they are not expected to decline in value as the markets fall. Returns are realized as these positions move towards their fair valuation. Inflective employs a fundamental value strategy by investing in convertible securities that are theoretically cheap and by adjusting the hedges based on internal analysis and valuation of the underlying common stock. Inflective seeks to capitalize on the change in the price of the convertible security relative to the change in the price of the underlying common stock. The firm also seeks to exploit the value of convertibles by identifying companies with a competitive advantage or disadvantage that not yet been realized in the marketplace. Inflective builds their hedges to capture positive returns as this value is recognized by the market. They also analyze the fixed-income characteristics of the convertible security and other relevant attributes. Inflective's Outright Convertible strategy focuses on long-term investments in convertible securities in which the underlying common stock is considered undervalued, as measured by an internal cash flow analysis. The firm also considers the fixed-income characteristics of the convertible security and other relevant attributes. Inflective focuses on the equity component when analyzing a convertible security. They use fundamental analysis to identify opportunities to exploit an undervalued underlying equity. They look for companies with a competitive advantage that has not yet been realized in the marketplace. These competitive advantages may be the result of superior management, a dominant market position, strong barriers to entry, proprietary products or low-cost production capability. Once the firm has identified such a company, they perform a cash flow analysis that measures historical and projected financial results. Inflective invests in companies in which the current or potential cash flows generated from the competitive advantage are not fully reflected in the market value of the company's debt and equity securities less its available cash.

Functions as a College/University