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5 November 2024
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APRA has released a plan to phase out bank hybrid securities and replace them with capital it regards as cheaper and safer. The transition will impact hybrid markets, funding spreads, and investor strategies.
APRA is reviewing hybrid capital bonds issued by banks. This is hardly surprising since the demise of Credit Suisse showed they don't work for the purpose that they are designed, and their continued use must be questioned.
In designing rules to protect investors, ASIC prevents reinvestment in products some people have held for years, even when investors qualify as 'wholesale'. How can ASIC change the rules to correct the imbalance?
Higher distribution levels and potential returns have caused many investors to turn to hybrids for the fixed income portion of their portfolio. Now may be a time to reassess the relative risk-reward balance of the instrument.
Conservative investors are forced to choose between protecting capital and accepting lower income while drawing down capital to maintain living standards or taking additional risk. How can you strike a balance?
Bank hybrids produced excellent returns in the last year and the biggest lesson from March 2020 is that many investors don’t understand the structures, and in a crisis, they panic first and think later.
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.
Hybrids are riskier than term deposits but investors are rewarded for the risk. Here is a simple way to consider if the reward is sufficient as the hybrid approaches an expected call date.
CBA's latest PERLS offer is directly offered to hundreds of thousands of investors who already hold CBA shares or other PERLS securities. How does it compare with the rest of the hybrid market?
The threat of Labor denying franking credit refunds led some investors to sell hybrids, widening their margins, which created investment opportunities for those willing to look past the immediate announcement.
Hybrids deliver returns comparable with equities over the long term with less volatility, which makes the risk-adjusted return and lack of correlation to equities an attractive characteristic in a diversified portfolio.
Most fund managers had a strong year in FY2018, but past bumper years when MTAA invested heavily in so called 'low risk' illiquid assets provide a warning in less fortuitous markets.
There are well over 800,000 family trusts in Australia, controlling more than $3 trillion of assets. Here's a guide on whether a family trust may have a place in your individual investment strategy.
A recent industry event made me realise that a 30 year old investing trend could still have serious legs. Could it eventually pose a threat to two of Australia's biggest companies?
Investing guru Howard Marks says he had two epiphanies while visiting Australia recently: the two major asset classes aren’t what you think they are, and one key decision matters above all else when building portfolios.
How have so many wealthy families through history managed to squander their fortunes? This looks at the lessons from these families and offers several solutions to making and keeping money over the long-term.
A recent ruling from The Australian Financial Complaints Authority may herald a new era for financial scams. For the first time, a bank is being forced to reimburse a customer for the amount they were scammed.
A big age gap can make it harder to find a solution that works for both partners – financially and otherwise. Having a frank conversation about the future, and having it as early as possible, is essential.