Iindlela ezimbini zokufumana umvuzo
Ngenxa yoko, kukho iindlela ezimbini zokufumana izityalo eziphezulu kwiimarike ezibophekileyo.
Okokuqala, izibophelelo zangexesha elide zivame ukunikela ngesivuno esiphezulu kunezo zihlobo ezifutshane . Isizathu salokhu silula: kuba ezinye zingakwazi ukungahambi kakuhle nomniki-mboleko kwixesha eliminyaka elishumi ukuya ku-30 kunexesha elifutshane, abatyali-mali bafuna impindiselo yengozi eyongeziweyo. Gcinani engqondweni, izibophelelo zexesha elide zivame ukuba zincinci ngaphezu kwemiba yesikhashana, ngoko ayifanelekanga kubo bonke abatyalo-mali.
Kwakhona, kukho amaxesha apho imiba yexesha elide anganikeli inzuzo enkulu kunxulumene nexesha elifutshane-imeko eyaziwa ngokuba yi- curve yield curve . Xa kunjalo, abatyali-mali abanako ukufumana imbuyekezo efanelekileyo yeengozi ezongeziweyo zeebhondi zexesha elide.
Abatyalomali banokufumana izivuno eziphezulu kwiingxenye zeemarike ezithengiswayo eziza kunomngcipheko we- credit -above. Imimandla ezintlanu zemarike yeekhonkco ezibonakalayo ngenxa yokukwazi ukubonelela ngeemveliso eziphezulu ngaphezulu:
Iimali zeBhanki zeBhanki zeNtengo
Izibophelelo zentsebenziswano yindlela engaphantsi kwenzalo yokuba abatyalo-mali bathathe umvuno owongezelelweyo, ngakumbi ukuba bajolise kwimigangatho ephakamileyo kunye / okanye emfutshane. Ukususela ngo-1997 ukuya ku-2012, izibophelelo zebhanki zamashishini ezityalomali ziye zenza umvuzo we-1.67 pesenti kwi-Treasury yase-US.
I-tradeoff yesi sivuno esiphezulu sisona siphezulu esiphezulu kunokuba umtyalomali uza kuba namava kwiSebe lezeMali ukususela ekubeni iqumrhu lichaphazeleke ngengozi yemingeni yomgangatho (impembelelo yezinga lokunyuka kwamaxabiso) kunye neengozi zemboleko (oko kukuthi, utshintsho kwimpilo yezemali ngamnye abaxhasi).
Kwixesha elidlulileyo, abatyalomali baye bahlawulelwa kulo mngcipheko: kwiminyaka elishumi iphelile ngo-Agasti 31, 2013, iBharclays Corporate Investment Grade Index yenze i-annual return of 5.57%, ukukhupha i-4.77% yokubuya kwe-market bond, njengoko kufakwe ngu-Barclays US Aggregate Bond Index. Iibhondi zexesha elide zenziwe ngcono, zivelise ukubuyela kwekota ngonyaka we-6.82%. Kodwa soloko ukhumbula ingqalelo into yokuba iinkampani ezixhasayo zixhomekeke ngokuchanekileyo: ukusebenza kwangaphambili akuyikho isiqinisekiso semiphumo ezayo.
Iimali eziPhakamileyo
Izibophelelo eziphezulu zokuvunwa ngenye yemimandla engumngcipheko weemarike ezibophekileyo, kwaye ukunyanzelisa kwabo kudla ngokusondeleyo koko umtyalomali angalindela kwiimpahla. Nangona kunjalo, izibophelelo eziphezulu zokhuseleko ziyaqhubeka ziphakathi kwezona zifunyenwe emva kokutshala imali phakathi kwabo bafuna ukukhulisa imali yabo yokufumana imali. Ukususela ngo-1997 ukuya ku-2012, izibophelelo ezivunyiweyo eziphezulu ziye zaba nenzuzo yokuvelisa isivuno semali engama-6.01 kwipesenti zase-US.
Kwiminyaka elishumi iphelile ngo-Agasti 31, 2013, iindleko ezipheleleyo zeNkcazo ye-Credit Suisse High Yield Index, zenze i-return rate eyi-8.78% ngonyaka. Ukubuyisa ngaphezulu kweepesenti ezintathu zeepesenti ezingcono kuneemarike zentengiso-mali kunye nangaphambi kweemarike zamasheya, njengoko kufakwe kwi-7.11% yokubuya kwekota yonyaka we-S & P 500 Index. Izibophelelo eziphezulu zezivuno, ngoko ke, zingenye yezona zinto zibaluleke kakhulu kwipotifoliyo yengeniso - xa nje ukhululekile ngeengozi.
Imali yeMali yeBhanki
Iimali-mboleko eziphezulu zikhethiweyo ze-asset class ezikhulayo kwindawo ephakamileyo phakathi kweefestile zokukhangela iindlela ezingaphezulu. Iimali mboleko eziphezulu ezibhekiselwe kwiimali-mboleko ezixhaswe okanye iimali-mboleko zebhanki ezihlanganisiweyo, iibhanki zemali-mboleko zenze iibhanki kwaye zize zithengise kwaye zithengise kubatyalisi. Ekubeni uninzi lwezi mboleko zebhanki eziphezulu zenziwa kwiinkampani ezibalwe ngaphantsi kwebakala lokutshala imali, i-securities ithambekele ekubeni neemveliso eziphakamileyo kunezibophelelo zoshishino-mali.
Ngelo xesha, iimali-mboleko eziphezulu zivelisa isivuno esiphantsi kwe-1-2% ngaphantsi kweekhonkco ezivunyiweyo eziphezulu ngenxa yokuba iimbophelo ngokwazo azixhomekekanga ekungagqibekanga, kwaye iimali ezithengayo kule ndawo zivame ukungabi nenyameko kunezo zijolise kwizibophelelo eziphezulu. Enye yezona nkalo ezinyanzelisayo zeebhanki zebhanki kukuba zineentlawulo ezijikelezayo , ezinikeza into yokukhusela kwimilinganiselo ekhulayo . Iimali ezifaka imali kwiimali-mboleko eziphezulu zingalindelwa ukuba zinikeze izivuno malunga neepesenti ezimbini ukuya kweyesithathu ngaphaya kwemali ephakamileyo yokuvuna i-US Treasury funds.
Izibondlelo zeeNkampani zeZizwe eziPhakamileyo nakwiNtla
Kuze kube kutshanje, kukho iindlela ezincinci zokutyalomali kwiibhanki zenkampani kunye nezindleko eziphezulu ezikhutshwe yiinkampani ngaphandle kwe-United States. Nangona kunjalo, namhlanje, ukufunwa kweemali -mali ezithengisa phezulu kuye kwaholela ekuzalweni kweemali ezininzi kunye kunye neengxowa -mali ezithengiswayo kule ndawo. Izivuno ziphakamileyo: iimali ezi ndawo ziza kunika izivuno kwindawo ephakamileyo ukusuka kumathathu ukuya kweyesithandathu amaphuzu angaphezulu kweemali zee-bond zaseburhulumenteni zase-US. Kodwa kwakhona, kuqaphela ukuba kuyimfuneko: iingozi ziphezulu apha, kwaye xa iimarike zitshatyalaliswa ngokuxhalabisa kwezoqoqosho okanye ezinkulu imicimbi yeziganeko zamazwe ngamazwe, le mali iya kuyithatha. Sekunjalo, abo banokuhlala ixesha elide kunye nokunyamezela okuphezulu kwengozi bangasebenzisa le nxalenye entsha kunye nokukhula kwee-asset ekwandiseni imali yabo engenayo kunye nokwandisa ulwahlulo lwabo lweepotfoliyo.
Iimali eziphakamileyo zeeMali zikaMasipala
Abatyalomali kwiibhanki eziphezulu ezikhethiweyo banokukhetha ukutyalomali kwiibhanki eziphezulu ezivunayo zikamasipala , ezi zibophelelo ezikhishwe ngamashishini karhulumente anokwenziwa kwemali ephantsi. Iimali ezityalomali kule ndawo ziza kubonelela ngezivuno malunga neepesenti eziyi-1.5 ukuya kwe-2.5 ezingaphezulu kweemali ezijolise kwi-munis ye-investis-grade (kwisithuba sokuhlawula kwangaphambili). Nangona ukunyanzeliswa kwamanzi kuphezulu kule ndawo yeemarike, abatyala-mali abade bahlawulelwe ingozi. Ngenxa yenxalenye kwimveliso yabo, isivuno esiphezulu se-munis siye saqhelana nabalingani babo bebakala-mali ngokumalunga neminyaka elishumi edlulileyo.
Ukufumana ukukhutshwa ngaphandle kweMakethe yeBond
Kukho nenani le-investing high-yield (kunye nengozi ephezulu) ngaphandle kwemarike yemboleko, kuquka:
- Iibhondi eziguqukayo
- Izitokethi ezihlawulelwayo
- Izitokisi zokusebenza
- Iingxowa-mali zokuthengisa imali
- Ukusebenzisana okulinganiselweyo (MLPs)
- Ezikhethiweyo
Ingcaciso kule ndawo inikezelwa ngeenjongo zengxoxo kuphela, kwaye ayifanele ithathwe njengeengcebiso zotyalo-mali. Ngaphandle kweemeko ngaba le nkcazelo ibonisa isincomo sokuthenga okanye ukuthengisa iziqinisekiso. Thetha kumcebisi-mali-mali kunye / okanye wengcali yerhafu ngaphambi kokuba utyalomise.