Summary: After the fall in prices for some hybrids, yields appear more attractive. But not all hybrids are the same, and the differences between them can affect returns. For example, Bendigo and Adelaide Bank offers a range of hybrid securities with different features. There are also differences between hybrids offered by the big four banks.
Key take out: The older the issue, the more investor-friendly its conditions are likely to be. But investors should make sure they know what they are buying.
Key beneficiaries: General Investors. Category: Fixed interest.