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Category: Portfolio Management

BondAdviser Separately Managed Accounts

BondAdviser offers two model portfolios of ASX listed securities which have been developed by us.  The securities in the model portfolios are regularly reviewed and may be changed from time to time.  In addition, security weightings will be altered according to our assessment of current market conditions. Investing in this way removes the stress and…Read More

BondAdviser Additional Tier 1 Capital Instrument Index Launches…

Please find below details and links to documents regarding the launch of BondAdviser’s Additional Tier 1 (AT1) Capital Instrument Index. This index series is designed to accurately reflect the performance of the ASX-listed AT1 hybrid market.  The main parent index is the BondAdviser Additional Tier 1 Capital Instrument Index.  From this, two sub-indices are derived,…Read More

The Role of Fixed Income in Retirement

In a recent independent report written by the Australian Centre of Financial Studies and Monash Business School, investment options for those close to retirement were examined against the backdrop of a low-return investment environment. As the ‘baby boomers’ approach the end of their working lives, there is growing concern current low rates of return will…Read More

Corporate Hybrids Handbook 2017

The BondAdviser Corporate Hybrid Handbook 2017 is designed to be a useful reference for ASX-listed corporate hybrid securities and the credit profiles of their underlying issuers. We believe there are a number of attractive investment opportunities across different corporate industries and the recommendation table below reflects our views on these particular securities. Corporate hybrids are…Read More

The Term Deposit Curve is Steepening

Last month, the Reserve Bank of Australia (RBA) cut the official cash rate by 0.25% to 1.50% with many Australian banks deciding not to pass on the full rate cut to mortgage holders and instead partially maintaining (and in some cases improving) some term deposit rates. In response to media criticism the banks cited regulatory…Read More

Crown Update

Crown reported a normalised EBITDA of $855 million (up 3.7% on 2015) in a year which produced a significant amount of volatility. Proceeds from the partial sale of their stake in Melco Crown Entertainment Limited (MCE) joint venture made the result look better than it really was but revenue and margins from the Australian Resorts segment (Casinos)…Read More

Challenger Update

Challenger Limited (CGF) reported a Net Statutory Profit After Tax (NPAT) of $328 million (up 9.6% on 2016). This was largely due to contributions from the group’s Life segment which generated $500 million in earnings, a 9.4% increase. On the other hand, the overall NPAT growth was held back by poor performance from the Funds…Read More

New Issue: ANZ Capital Notes 4

On the 16th of August 2016 Australian and New Zealand Banking Corporation (ANZ) announced a new transaction, ANZ Capital Notes 4 (Prospective ASX Code: ANZPG).   The purpose of this transaction is to provide Regulatory Capital for the group but more specifically it will be treated as additional Tier 1 capital for regulatory purposes. The indicative…Read More