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Using ETFs to Protect Portfolios

Using ETFs to Protect Portfolios

Ratings: (0)|Views: 44 |Likes:
Published by Imran Ahmed
ETFs have varied uses and used creatively can be used to protect portfolios from market downturns.

As published in ETFI magazine.
ETFs have varied uses and used creatively can be used to protect portfolios from market downturns.

As published in ETFI magazine.

More info:

Categories:Types, Business/Law
Published by: Imran Ahmed on Jul 16, 2012
Copyright:Traditional Copyright: All rights reserved

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03/13/2014

 
H
ovastgrs ho QR stgb`s lkva lkd k eggd yakr sg mkr. :6;: yakr-tg-dkta tla Rtkodkrd kod Vggr‘s 166 Hodax hs up gvar ;;% wlhca tla Dgw Ngoas Hodustrhkc Kvarkea lks ekhoad kjgut <%
;
. Vckbad ho tla bgotaxt gm k lhstgrhbkc aquhty rhs` praihui gm 4%
:
 kod k QR tao-yakr Traksury jgod yhacd gm kpprgxhiktacy :%, ikoy hovastgrs ihelt ja mgrehvao mgr wkothoe tg prgtabt :6;:‘s “axbass‘ yakr-tg-dkta raturos gm kjgut 1%
2
. Kctaroktacy, hovastgrs whcc kt cakst cgg` mgr wkys tg raduba tla hipkbt gm k dgwoturo ho stgb`s go tlahr aquhty pgrtmgchgs. Bartkhocy, tla trkdhthgokc rguta tg prgtabthoe aquhty pgrtmgchgs kekhost k ikr`at dgwoturo wgucd tk`a tla mgri gm kpprgprhkta pgshthgos ho tla muturas gr gpthgos ikr`ats. Lgwavar, ikoy hosthtuthgokc hovastgrs iky ja uokjca tg hipcaiaot muturas gr gpthgos strktaehas dua tg rastrhbthva hovastiaot euhdachoas. Mgr axkipca, ikoy iutukc muods kra jkrrad mrgi purblkshoe darhvkthva hostruiaots. Igragvar, ikoy ratkhc hovastgrs kra jgtl uomkihchkr kod uobgimgrtkjca whtl kbbasshoe darhvkthva hostruiaots ks pkrt gm tlahr hovastiaot strktaehas. Rg hs tla gocy blghba mgr subl hovastgrs tg chquhdkta kcc gr k pkrt gm tlahr pgrtmgchgs mgr makr gm ko hipaodhoe dgwodrkmt ho QR stgb`s7 Ruracy, whtl kcc tla mhokobhkc aoehoaarhoe surrguodhoe axblkoea trkdad muods (ATMs)
4
 , avao “cgoe gocy‘ hovastgrs bko tk`a staps tg prgtabt stgb` pgrtmgchgs. Bartkhocy, tlara kra savarkc ATMs wlhbl kra kpprgprhkta mgr tla purpgsa. Lgwavar, tla spabhmhb ATMs whcc dapaod go tla prabhsa gjnabthva damhoad jy ko hovastgr, h.a. hs tla gjnabthva tg lgcd gotg bkphtkc ekhos hm tla ikr`at lakds sgutl gr shipcy tg raduba k pgrtmgchg‘s “jatk‘. Jatk hs assaothkccy k iaksura gm tla vgckthchty gr systaihb rhs` gm k pgrtmgchg rackthva tg hts jrgkdar ikr`at. Zadubhoe k pgrtmgchg‘s jatk iakos k pgrtmgchg ehvas up sgia pgtaothkc mutura ekhos hm stgb`s igva lhelar ho raturo mgr radubad cgssas slgucd stgb`s dabchoa. Tlara kra savarkc ATM gpthgos kvkhckjca mgr radubhoe tla vgckthchty gm k pgrtmgchg. ATMs subl ks tla VgwarRlkras Rtkodkrd kod Vggr‘s 166 Cgw ]gckthchty ATM (RVC]) kod tla Zussacc :666 Cgw ]gckthchty ATM (RC]X) kra cgehbkc stkrthoe pghots. Ulhca tla Zussacc ATM RC]X hs sikcc whtl k shza gm scheltcy gvar QR$1 ihcchgo, tla VgwarRlkras ATM RVC] lks QR$;.= jhcchgo ho kssats kod ko gparkthoe lhstgry gm nust kjgut goa yakr. Tlraa sabtgrs bgiprhsa kcigst 51% gm RVC]‘s pgrtmgchg> bgosuiar damaoshvas, uthchthas kod lakctlbkra. Ks goa axpabts mrgi k cgw jatk pcky, RVC] lks uodarparmgriad tla R&V 166 hodax yakr-tg-dkta, 4.:% varsus ;:.=%
1
. K dhmmaraot rguta tg tla skia aod hs jy kddhoe ATMs whtl k jhks tgwkrds dhvhdaod pkyguts. Typhbkccy, stgb`s pkyhoe eggd dhvhdaods taod tg ja cass vgckthca rackthva tg cgw gr og dhvhdaod pkyars. Tk`a Nglosgo kod Nglosgo (NON) kod Rtkrjub`s (RJQ\). NON lks k dhvhdaod yhacd gm 2.1% kod k jatk gm 6.42, gr cass tlko lkcm gm tla jrgkd stgb` ikr`at. Iakowlhca, RJQ\ lks k dhvhdaod yhacd gm ;.:% whtl k jatk gm ;.:. RJQ\ yhacds cass tlko NON jut lks igra rhs` kttkblad tg ht.
Dhvhdaod krhstgbrkts
Bgosaquaotcy, ko ATM ch`a tla QR$8.2 jhcchgo RVDZ Rtkodkrd kod Vggr‘s Dhvhdaod (RDX) hs k prhia bkodhdkta tg cgwar pgrtmgchg rhs`. RDX –
aipcgys k rapchbkthgo strktaey ho saa`hoe tg trkb` tla parmgrikoba gm tla R&V Lhel Xhacd Dhvhdaod Krhstgbrkts Hodax 
.
=
 K dhvhdaod krhstgbrkt hs eaoarkccy damhoad ks k bgipkoy wlhbl lks rkhsad hts bksl dhvhdaod pkygut mgr kt cakst tla pravhgus :1 yakrs. Xakr-tg-dkta, RDX lks raturoad 1.8% varsus tla stgb` ikr`at‘s ;:.=%. Rgia hovastgrs iky lkva tla vhaw tlkt kmtar k stgb` rkccy cksthoe tlraa yakrs, tla jktgo whcc sggo ja lkodad tg jakrs kod stgb`s ihelt ja lakdad mgr igra prgtrkbtad dabchoas. Ho tlhs hostkoba, ko hovastgr ihelt blggsa tg kdgpt k igra keerasshva pgrtmgchg prgtabthgo strktaey. Kekho, tla ATM uohvarsa prgvhdas subl hovastgrs whtl sgia kctarokthvas tg bgoshdar. Hovarsa ATMs kra ko gjvhgus blghba. Hovarsa gr jakr ATMs kra dasheoad tg jaoamht mrgi k dabchoa ho tlahr uodarcyhoe jaoblikr`s. Typhbkccy, hovarsa ATMs usa darhvkthva hostruiaots tg kblhava ekhos prgpgrthgokccy hovarsa tg tla dabchoa ho tla jaoblikr`. Tla VrgRlkras Rlgrt Rtkodkrd kod Vggr‘s 166 (RL) hs k QR$;.<4 jhcchgo ATM wlhbl –
saa`s dkhcy hovastiaot rasucts, jamgra maas kod axpaosas, tlkt bgrraspgod tg tla hovarsa (-;x) gm tla dkhcy parmgrikoba gm tla PR&V 166Y hodax 
.’ Xakr tg dkta tla RL ATM lks dachvarad k raturo gm ihous ;;.=% varsus ko hodax raturo gm ;:.=%. Go k tlraa yakr jkshs, tla RL lks raturoad ihous ::.<5% varsus ko hodax raturo gm :2.4%
5
. Hovarsa ATMs whtl oaekthva raturo gjnabthvas rackthva tg tlahr jaoblikr`s kra kvkhckjca mgr tla OKRDK[, Dgw Ngoas Hodustrhkc Kvarkea, spabhmhb sabtgrs kod avao hotarokthgokc aquhty ikr`ats. Hovastgrs kra kcigst spghct mgr blghba. Kogtlar strktaey tg bgoshdar mgr k dabchohoe ikr`at hs eghoe cgoe tla “Makr Hodax‘ gr Ikr`at ]gckthchty Hodax, gtlarwhsa `ogwo ks tla ]H\. Lhstgrhbkccy, tla ]H\ rhsas ks tla ikr`at dabchoas. Laoba, ko hovastgr axpabthoe k ikr`at dabchoa bko axpabt tla vkcua gm tlahr ]H\ lgcdhoe tg hobraksa. Tla ]H\
Qshoe ATMs tg prgtabt pgrtmgchgs
Tk`hoe kbbguot gm tla prabhsa gjnabthvas damhoad jy hovastgrs
Jy Hirko Kliad
Tkc`hoe Vghot 
;:
ATM KR K :6;: [:
–Tla trkdhthgokc rguta tg prgtabthoe aquhty pgrtmgchgs kekhost k  ikr`at dgwoturo wgucd tk`a tla mgri gm kpprgprhkta pgshthgos ho tla muturas gr gpthgos ikr`ats’ 
www.atmhkshk.bgi

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