"One area we’ve started to move into is convertible bonds. There are some excellent  opportunities currently available in that space, in companies with sound long-term fundamentals. We like to view convertibles as good vehicles for our long-term investments, because the coupons, which are currently in the double-digit range, serve to protect the portfolio from short-term downside, while the convertible bond allows the fund to participate in the long-term return of the underlying equity. We are happy to own select convertibles in strong companies and we expect to own more in the future if the right opportunities present themselves." Jean Francois Tardif

Convertible arbitrage - http://www.casamhedge.com/IndexDetail.aspx?ID=7490&G=1 

Convertible bond funds - The Vanguard Convertible Securities Fund [VCVSX] ($10,000 Min) or Fidelity Convertible Securities Fund [FCVSX] ($2500 Min),Barclays Capital Convertible Bond ETF (CWB)