Yintoni iBond eguquguqukayo?
Njengamabhondi e-vanilla e-plain, iinguqu eziguqulwayo zihlawula umvuzo kubasomali. Kodwa ngokungafani nezibophelelo, banakho ukuphakama kwixabiso xa inkampani yenkampani yenza kakuhle.
Isizathu salokhu silula: ekubeni i-bond convertible iqulethe ukuguqulwa ibe yisitokisi, intengo ephakamileyo yesitokiselwano esinyukayo ikhulisa ixabiso lokhuseleko oluguqulwayo.
Ukuba isitokhe senza kakubi, ke kunjalo, umtyalomali akanako ukuguqula ukhuseleko kwisitorethi kwaye uya kuba ne-isivuno sokubonisa imali yakhe. Kodwa ngokungafani nesitokisi, izibophelelo eziguqulwayo ziyakwazi ukuwa nje-ke ukubonelela ngenkampani yokukhupha ihlala isisombululo - kuba inosuku lokukhula ngexesha apho abatyala-mali baza kufumana inqununu yabo. Ngaloo ngqiqo, izibophelelo eziguqulwayo ziphelelwe ngaphantsi kwezinto eziqhelekileyo.
Kukho ukubanjwa komnye, nangona kunjalo: kwisiganeko esinqabileyo umniki-mali ungena kwi-bankruptcy, abatyali-mali kwiibhonki eziguquguqukayo banokubaluleka okubalulekayo kubango kwiimpahla zenkampani kunabalimi-mali abatyala ngokungekho, abatshintsho.
I-upshot: ngelixa iibhondi eziguquguqukayo zinokuxabisa okukhulu kunezibhonkco zoshishino, nazo zisengozini ekulahlekeni ukuba umkhuphili uyafezeka (okanye ehluleka ukwenza intsingiselo yayo kunye neentlawulo eziphambili ngexesha).
Ngenxa yeso sizathu, abatyali-mali kwiibhondi eziguquguqukayo ngamnye kufuneka baqiniseke ukuba benze uphando olunzulu lwe-credit.
Umzekelo wendlela Ikhonkco eguquguqukayo isebenza ngayo
Makhe sibone umzekelo. I-Acme Ikhampani ixubusha isibophelelo sokuguqula iminyaka emi-5 kunye nexabiso elingu-1,000 lemali kunye nekhuphoni ye-5%. "Umlinganiselo wokuguqulwa" - okanye inani lezabelo ezithatha umtyalomali ukuba usebenzisa ukuguqulwa - inyulo eyi-25.
Ixabiso elinguqulelo lokuguqula, ngoko ke, i-40 yerhafu ngesabelo ngasinye, okanye i-$ 1000 ihlulwe ngo-25. Umtyalo-mali unamathela kwi-bond convertible iminyaka emithathu kwaye ufumana i-$ 50 kwimbuyekezo ngonyaka. Ngelo xesha, isitokhwe siphume kakuhle ngaphezu kwexabiso lokuguqulwa kwaye lirhwebo kwi-60. Umtyalomali uguqula i-bond kwaye ufumana ama-25 amasheya esitokisini kwi-60 ngeesahlulo ngasinye, isamba esiyi-1,500. Ngaloo ndlela, isibophelelo sokuguqulwa sinikezelwa ngentsapho kunye nethuba lokuthatha inxaxheba kwisigxina sesitokisi esisezantsi.
Gcinani engqondweni, ininzi yezibophelelo eziguqulwayo zitshintsha-zithetha ukuba umkhupheli unokubiza ii-bonds away kwaye ngaloo ndlela uyabamba inzuzo yabatyalisi. Ngenxa yoko, iinguqu eziguquguqukayo azizinalo ezingenamkhawulo ezingasenamkhawulo njengezithuthi eziqhelekileyo.
Ngakolunye uhlangothi, masithi isitokisi sika-Acme sinciphisa ngexesha lobomi bezokhuseleko-kunokunyuka ukuya kuma-60 engama-60, liwela kuma-$ 25. Kule meko, umtyalo-mali akayi kuguqula-kuba ixabiso lentengo lingaphantsi kwexabiso lokuguqulwa - kwaye liza kubamba ukhuseleko kuze kufike ukukhula njengokungathi ibhondi ehambelana nequmrhu . Kulo mzekelo, utyalomali ufumana i-$ 250 kwimali engenayo kwiminyaka emihlanu, kwaye emva koko uyamkela imali yakhe engama-$ 1000 emva kokukhula komtshato.
Indlela yokuTyala imali kwiiBond Convertible
Abatyalomali abakulungele ukwenza uphando olufanelekileyo bangafaka imali kwiitriti eziguquguqukayo ngabanye ngomthengisi wabo. Inani leenkampani ezinkulu zeengxowa-mali zinikeza inkxaso-mali ngokuzibandakanya . Phakathi kwezona zikhulu ziyiCalamos Convertible A (i-ticker: CCVIX), i-Fidelity Convertible Securities (FCVSX), iVanguard Convertible Securities (VCVSX) kunye ne-Franklin Convertible Securities (FISCX). Abatyalomali banakho ukukhetha imali yokuthengiselana ngemali (ETFs) i-SPDR Barclays Capital Convertible Bond ETF (i-ticker: CWB) okanye i-PowerShares Convertible Securities Portfolio (CVRT).
Hlalani nikhumbule, iipotifoliyo ezinkulu zee-securities eziguqulwayo-eziyimali kunye ne-ETFs zimela - zithatha ukulandelelanisa imarike yemasheya ngokukhawuleza ixesha. Ngaloo ndlela, benza okungaphezulu njengengxowa-mali ye -equity fund .
Le mveliso inokubonelela ngeendlela zokungafani kunye nokuxhomekeka kwimiba enxulumene neefowenuli zentengiso yamasiko kodwa akuyona indlela eyona ndlela ingcono yokutshintsha umntu ophethe iphothifoliyo ngokuyinhloko utyalo-mali kwiimpahla.
I-Balance ayinikezeli irhafu, utyalo-mali, iinkonzo zemali kunye neengcebiso. Ulwazi lwenziwa ngaphandle kokuqwalasela iinjongo zotyalo-mali, ukunyamezela ngengozi okanye imeko zezimali kwanoma yimuphi umtyalo-mali othile kwaye angenakufaneleka kubo bonke abatyalo-mali. Ukusebenza kwangaphambili akubonakali kweziphumo ezizayo. Utyalo-mali luquka ubungozi kubandakanya ukulahlekelwa kwinqununu.