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Thursday, 9 December 2021
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For investors able to react quickly when stressed selling hits hybrids, excellent margins are available on quality names. The GFC taught experienced investors lessons that are now repeating.
The margins (or spreads) on so-called AT1 bank hybrids have reduced significantly since the franking doubt was removed in the election, and investors should ask whether they are now rewarded for the risks.
The Coalition victory in the Federal election removed many policies which were overhanging the property market, and a relaxation of bank lending conditions is underpinning the signs of recovery.
Amid the many strategies proposed to overcome Labor's franking policy if adopted, often overlooked is building a portfolio of the right types of bonds and hybrids as an alternative source of income.
Changes to banking regulations have led to higher interest rates on bank loans for SMEs and personal loans, pushing borrowers towards the rapidly growing new segment of non-bank lending for faster and better service.
Hybrids are no more ridiculous than shares for retail investors, especially bank and insurance company issues. The increase in common equity in banks has improved the quality, but investors must be paid for the risk.
I prefer not to make market forecasts but I need to take personal investment decisions. I'm expecting a stockmarket fall in 2022 as central banks tighten policies but the mainstays in my portfolio will not be sold.
A lower starting withdrawal rate doesn’t always mean living on less. The latest research on sustainable withdrawals offers flexibility for retirees to improve the chances of not running out of funds prematurely.
Small caps might require more work than large cap stocks but they are often worth it. After all, all large companies were small once, and there can be clear benefits of investing in and backing management early.
The biotech industry has seen an explosion of new techniques which will lead to innovative areas of growth in the use of cells and genes as medicine. Money for funding life sciences and biotech pharma has soared.
Multiple factors have seen gold fall in 2021, despite the rise in inflation. But given gold has performed strongly across longer periods of higher inflation, gold may benefit under the current inflation outlook.
Retirement solutions uniting the three pillars of retirement funding - the age pension, mandatory super and voluntary savings - are essential. Global experts discuss solutions that might work for Australia.
With stronger capital positions, improved brand equity and the potential to benefit from a robust post-pandemic recovery, the global banking sector is presenting significant opportunities for investors.