Hiding the hybrids facts

Retail investor access to hybrids credit ratings won’t make a big difference ... there are larger problems to resolve.

PORTFOLIO POINT: Even though retail investors can’t access the credit ratings on hybrid issues, the bigger problems for investments relate to the structures of some of these issues.

The $9 billion rush of subordinated and hybrid note issuance so far this year is attracting a slew of warnings on these products, not least from the corporate regulator ASIC.

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