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12 June 2024
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Most Australian investors have little exposure to emerging markets debt, but the attractions of a widely-diversified portfolio offering higher yields can be accessed through global bond portfolios available here.
High-yield bonds carry more risk than investment grade but they offer higher income returns. An allocation to high-yield bonds in a portfolio - alongside equities and other bonds – is worth considering.
Investors hold non-government bonds for both their income and defensive characteristics, but there must be sufficient diversification and liquidity in quality names to manage the risk.
As term deposits no longer satisfy the need for income, more investors are turning to alternative sources. Here's a check on where three types of fixed income sit in the company funding structure.
Bond markets are far larger than stockmarkets, and the BBB segments in the largest of all in the corporate market. Many analysts have pointed to potential weaknesses but it pays to look a bit deeper.
As interest rates fell in recent years, there was a push into emerging markets debt, but as worldwide central bank stimulus reduces, many of these 'emerging' countries are showing why they are poorly rated.
The high yield debt market is now much larger and riskier than just before the GFC. That doesn’t bode well for when the next downturn happens and investors have several options to de-risk.
Many retail investors have turned to unrated or high-yield corporate bonds in recent years, but conditions have been favourable. Watch for the once-a-decade spikes in default rates.
Due to the growing risks to high yield or junk bonds, this is not the time to accept their tight spreads in the search for better returns. Investment grade bonds and dividend yields are likely to be more dependable.
Investors seeking yield need to watch the margin contraction on so-called 'high yield' debt, especially since the protective covenants are weaker than in the past.
Keeping superannuation savings in term deposits will protect the capital but doesn't optimise the retirement outcome. There are many alternatives that should provide higher sustainable income over the long term.
It matters little if you are invested in property, shares or bonds, we have moved into a lower return environment. It's a time for caution in a world where debt and defaults are rising.
By 2028, all Baby Boomers will be eligible for retirement and the Baby Boomer bubble will have all but deflated. Where will this generation's money end up, and what are the implications for the wealth management industry?
If you’re like me, you may have put money into term deposits over the past year and it’s time to decide whether to roll them over or look elsewhere. Here are the pros and cons of cash versus other assets right now.
There's been little debate on how spending changes as people progress through retirement. Yet, it's a critical issue as it can have a significant impact on the level of savings required at the point of retirement.
A Senate Committee reported back last week with a majority recommendation to pass the $3 million super tax unaltered. It seems that the tax is coming, and this is what those affected should be doing now to prepare for it.
Two commonly asked questions are: 'How much do I need to retire' and 'How much can I afford to spend in retirement'? This is a guide to help you come up with your own numbers to suit your goals and needs.
We're nearing the end of the financial year and it's time for SMSFs and other super funds to make the most of the strategies available to them. Here's a 24-point checklist of the most important issues to address.