InvestSMART Hybrid Income Portfolio Update - December 2018
Portfolio produced a return of 0.53% (after fees) during the December quarter and no changes were made
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter your SMS code' }}
A text message with your verification code was just sent to {{user.DayPhone}}
We cannot send you a code via SMS to {{user.DayPhone}}
Hi {{ user.FirstName }}, please provide your mobile number.
{{ content.trialHeading.replace('{0}', user.FirstName) }}
We'll send you a text message with a verification code to start your free {{ '0' == '1' ? 'Eureka Report' : 'Intelligent Investor' }} 15-day trial.
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART.
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Eureka Report 15-day free trial
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Indepth analysis of ASX listed shares
- BUY, Hold and Sell Recommendations
- Ideas Lab
- Special Reports
- Alan Kohler’s Weekend Briefing
- Interviews with CEO’s & top influencers
- Money Cafe and Talking Finance
- Super Advice and Q&A with Ask Alan
Despite a weaker and volatile equity market and widening credit spreads, the hybrid market experienced positive momentum in the final month of the year. We expect this to continue in coming months. During the month, we reduced the portfolio’s exposure to CBAPG, CBAPD, CBAPE and NABPB to raise cash for the new allocation into WBCPI.
We reduced the portfolios exposure to CBAPG, CBAPD, CBAPE and NABPB to raise cash for the new allocation into WBCPI. The allocation is cash is 4.2%, above its minimum 2% weight. During the quarter, the best performers were CBAPE ( 2.29%), MQGPB ( 1.99%) and IANG ( 2.06%). The two major detractors for the quarter were MBLHB (-1.53%) and NABHA (-2.0%).
The hybrid market experienced positive momentum in the final month of the year. This followed over $1 billion of redemptions in the listed fixed Interest and hybrid space. Currently there is only one major bank hybrid approaching its optional call date, being NABPA which has a call date in March 2019.
The supply and demand dynamics favour a positive outlook over the next 6 months as investors cautious of continuing volatile equity markets together with the risk of a falling RBA cash rate as suggested by the Australian interest rate futures market look to further diversify portfolios into the hybrid asset class.
Axcesstoday (AXL) announced on 12 December that It would continue its voluntary suspension. AXL requires further time to complete the process of working with its lenders, finalising the strategic review and completing a successful equity raise. At 31 December 2019, the portfolio’s current weighting in AXLHA is ~ 1.60%.
To see more information on our Hybrid Portfolio, click here.
Join the Conversation...
There are comments posted so far.
If you'd like to join this conversation, please login or sign up here
