I-SEC Bond Ukuvelisa ukuBonelela inikezela iiNkqubo zokuHlola eziQiniselelweyo
Enyanisweni, kukho iindlela eziliqela zokugqiba isivuno: ukuthengiswa kwemveliso (kunye neentlobo zayo) kunye ne-SEC ukuvelisa. Yiyiphi isivuno sokubala okufanele usebenzise ukuze ufumane oko kukubuya kwakho kwangempela, kwaye kutheni kubalulekile?
Ukujonga emva
Qondisisa ekuqaleni ukuba akukho ukuthengiswa kwemveliso okanye iSET ye-SV ingakuxelela ukuba yeyiphi imali engenayo eyayiza kuphuma kuyo xa uthenge. Zomibini izivuno zisekwe kwindlela esedlulileyo. Njengoko uyazi kwaye njengewebhsayithi zezezimali ziyakukukhumbuza , ukusebenza kwangaphambili akubonakaliso lwembuyekezo ezayo.
Intengo yokuSasazwa kunye nokuba kutheni mhlawumbi kungalungile
Inkalo enye yokuvelisa isivuno sokuvelisa isivuno - inzame yakho yokuqonda ukubaluleka kwesivuno se-fund ye-bond ye-bond ye-bond-ayikho yonke i-fund ebala ngayo ngendlela efanayo. Nantsi enye indlela eqondekileyo:
Isivuno sokusabalalisa sibalwa ngokuthatha imali yokusabalalisa imali kwiinyanga ezidlulileyo-ngokuqhelekileyo into efanayo negalelo elikhoyo - nokuphindaphinda ukuba nge-12 ukufika oko kungenzeka okanye kungabi yinto ekhoyo yokuhambisa iinyanga ezilishumi elinambini.
Ukuqhathaniswa okubuhlungu kwaye kaninzi okungahambelani kokubuya kwonyaka. Ukubala ke kwahlula le ntlawulo yeenyanga ezili-12 ekugqibeleni kwenyanga ye-NAV, ekunikezela isivuno sokuhambisa, okanye ngokuchanekileyo, enye yokubala kwezivuno ezisetyenziselwa imali ngokubanzi:
Ukuveliswa kweeMveliso = Inani lokusasazeka kweentsuku ezingama-30 x 12 / ekupheleni kwenyanga ye-NAV
Olu kubalo luquka ukulula okulathu kwedatha engayonakalisa ukuchaneka kwayo okanye, imeko ebi kakhulu, incedo.
Eyokuqala kunye neyona nto ibonakalayo kukuba ingeniso ngokuqinisekileyo ngokuchanekileyo ukuba ingeniso malunga neentsuku ezingama-30 ezedlule ziphindwe ngo-12 zilingana neenyanga ezi-12 zokubuya. Kwamanye, mhlawumbi iziganeko ezininzi, ziya kuza ngokukhawuleza ukubuyela kwenyanga eyi-12. Kwaye ngamanye amaxesha, ingeniso ebalwayo kunye neyona ngeniso ingenakuhluke
Iingqungquthela zesibini ezithintela ukuchaneka koBugcino lweZenzalo zokuLawulwa kukuba akuyiyo inyanga nganye inenani elifanayo leentsuku. Ukuba ubala ukubuyiswa ekupheleni kukaFebhuwari, usebenzisa ixesha lokusasazeka kweentsuku ezingama-28; Ukuba ubala ngoJulayi, usebenzisa usuku lwangama-31. Ingxowa evelisa i-X dollar kwiintsuku ezingama-28 inexabiso lokubuyisela elingu-30 ÷ 28 ekhulwini eliphezulu ngaphezu kwe-X efanayo kunye neentsuku ezingama-30. Lo mdahluko unokubangela isiphumo sakho ngokukhawuleza. Eyona nto inokuthi inokuthiwa yile nto kukuba umehluko awuyi kuba lukhulu kakhulu.
I-assumption yesithathu kukuba i-NAV yangoku ibonisa i-NAV ephakathi kwiinyanga ezililishumi ezidlulileyo. Akukho isizathu esithile sokucinga ukuba oku kuchanekileyo kunokucinga ukuba ixabiso lentengo yanamhlanje kwi-Apple (AAPL) lingumyinge walo nyaka odlulileyo.
Enyanisweni, ngowama-2016, intengo yesabelo se-AAPL ivukile kwaye iphinda iphinda iphinde iphinde iphinde iphinde iphinde iphinde iphinde iphinde iphinde iphinde iphinde iphinde iphinde iphinde iphinde ibuye iphinde ibe ngama-40 ekhulwini. Ixabiso lemali yeBond yexhaswa ayisoloko iyanelisekile, kodwa ayiguqukiyo.
Ezinye zeeMveliso zokuThengiswa kweziThamo
Kukho iindlela ezithe zacaca ukuba ukuveliswa kwezivuno zonikezelo zingasondela ngakumbi. Omnye akayi kuthatha ulwabiwo-mali lwangenyanga ngenyanga kodwa ukugqibelela ukusabalalisa kwenyanga kwinyanga edluleyo, kwaye ukwahlula ngabayishumi elinesibini. Leyo yenyanga eyi-12 yangempela.
Omnye ukulungelelanisa "imali yesabelo sosuku lwama-30" ukubonisa ukubuya kweentsuku ezingama-30 - ngamanye amagama, ukwandisa ngokufanelekileyo ngoFebruwari uze ulungelelanise phantsi kweenyanga ezingama-31.
Ukuphuculwa kwesithathu kukulinganisa ii-NAV zenyanga ezili-12 ezilandelelanayo.
Ukubalwa kokuveliswa kwezivuno kubonakala ngathi:
Ukuveliswa kweeMveliso = (Inani elipheleleyo lokulandelwa kweenyanga ezili-12) i-x (30 / iintsuku zangoku kwinyanga ekhoyo x 12) ÷ (ubuninzi beenyanga ezili-12 ze-NAV / 365 zemihla ngemihla)
Xa umvuno wokusabalalisa ubalwa ngale ndlela, ubizwa ngokuba yi-TTM isivuno - i-TTM ibinzana "lokulandelela iinyanga ezilishumi elinesibini."
Ngasekupheleni kweXesha lama-20, i-SEC inenelele kule nkalo edidekayo kwaye sele ifuna ukuba zonke iinkampani zenkxaso-mali zifake izivuno zombini, zichongwe naluphi na indlela eziye zazisebenzisa ngokusesikweni kunye ne-SEC isivuno, okufuna ukusebenzisa ukulinganisa okumiselweyo kwiSEKELO.
Yiyiphi i-SEC Yokuzalisa Ukubalwa?
Isondlo seSibini sichazwa ngokuba igama leenkampani zithengiswa ukuba zibike kwiKhomishana ye-Securities and Exchange. Ngaphandle kokungena emanzini okubalwa okunzima kakhulu, okungekho mtyalo-mali onokukwenza, ISebe leSibini livelise umlinganiselo wesityalo-mali-mali-mali oya kufumana kunyaka esicinga ukuba ibhonkco nganye kwi-portfoliyo igcinwe ukukhula . Lo mqathango uphinde uthathe ukubuyiswa kwakhona kwemali engenayo kunye neengxelo zolawulo lweendleko kunye neendleko.
Abanye abahlalutyi nabalobi bezezimali, ezifana noKaren Damato abhala kwi-Wall Street Journal ngoMeyi 16 ngo-Meyi 16, bekholelwa ukuba ukubalwa kwe-SEC kunika umphumo ochanekileyo kunokuba kulandelelaniswa kwezivuno ezahlukeneyo kunye nokuba kuhambelana ngenyanga-ngenyanga. Enyanisweni, ingaba ukubalwa komnye kuza kufutshane neentlobo ezi-12 ezilandelayo kwezivuno kunomnye kumgama othile umcimbi owenziwe yimarike. Zonke izivuno zivelisa iingxelo kwizinto ezenzekile, kungekhona oko kuza. Ngaphezulu, ngelixa ukusabalalisa ukuvelisa izibalo kwenza ukuba iingcamango ezinokuthi zingabonakali ngokoqobo, ngoko ke ukubalwa kwe-SEC: ezininzi iinkampani zezimali ezilawulwa ngokuzimeleyo ziphantse zibe zibambe zonke iibhondi zize zikhule. Nangona kunjalo, inzuzo engenakukhunjulwa kwesivuno se-SEC kukuba i-standardized-ngoku abatyala-mali abanokuqhathanisa ii-apula kwiipulo.
Isisombululo esisodwa kwisingxaki esilungileyo: Yiya ngqo kwiwebhusayithi yenkampani yokuxhasana kunye okanye inkampani enika i-ETF. Ekubeni aba bakhuphayo kufuneka banikeze umvuno wokusabalalisa kunye ne-SEC yeentsuku ezingama-30, uya kukwazi ukufumana ingqondo engcono engayifumana kwingxowa-mali. Uphando lweMasta, eqinisweni, lukhuthaza ukuthabatha izibalo zombini - zixubusha ukuba ukucatshangelwa kwabo bobabini kuya kunika indlela engcono yokusebenza kwesikhwama kunokuba enye isetyenziswe yodwa.