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23 February 2025
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Lenders use Residential Mortgage-Backed Securities to finance mortgages and RMBS are available to retail investors through fund structures. They come with many layers of protection beyond movements in house prices.
The collapse of Virgin Australia not only hit shareholders, but their bond investors received between 9 and 13 cents in the $1. A widely-diversified portfolio can tolerate losses better than a concentrated one.
There are valid concerns about the coming pain among smaller companies but attractive risk-adjusted lending opportunities exist provided the right checks and precautions are taken.
An active manager of cash and fixed interest funds can achieve higher returns than the cash rate through a selection of other securities while managing both liquidity and income for clients.
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.
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.
The reputations of credit rating agencies took a hammering during the GFC, and while there are legitimate criticisms, they have an important role to play and are followed by most major investors.
Sub-investment grade investments, or ‘junk bonds’, pay well but carry a higher risk of default. If the risk is managed properly, a broad portfolio of high yield securities can be a worthwhile investment option.
While encouraging people to draw down on their accumulated wealth in retirement might be good public policy, several million retirees disagree because they are purposefully conserving that capital. It’s time for a different approach.
This examines the performance of key asset classes and sub-sectors in 2024 and over longer timeframes, and the lessons that can be drawn for constructing an investment portfolio for the next decade.
The CIO of Australia’s fourth largest super fund by assets, John Pearce, suggests the odds favour a flat year for markets, with the possibility of a correction of 10% or more. However, he’ll use any dip as a buying opportunity.
Getting regular, growing income from stocks is tougher with the dividend yield on the ASX nearing 25-year lows. Here are some conventional and not-so-conventional ideas for investors wanting to build a dividend portfolio.
Australians are used to hearing dire warnings that they don't have enough saved for a comfortable retirement. Yet most people need to save a lot less than you might think — as long as they meet an important condition.
It’s well documented that many retirees draw down the minimum amount required and die with much of their super balances untouched. This explores the reasons why and some potential solutions to address the issue.