Funds Focus Newsletter January 2013

Melbourne Cup 2016

Fun for the Melbourne Cup. Each year, Macquarie, Morgans and PWC analysts roll out of the bean pits to use their skills towards unravelling the mysteries of the Melbourne Cup.

Macquarie have offered the most detailed and consistent analysis with Morgans coming a close second and PWC winning the prize for the prettiest charts and website.

We expected great things from BT Fixed Income team, who unfortunately failed to deliver. They’ve thrown in the towel for this year, but a quick chat with

Melbourne Cup, analysis, commentary

Telstra 2016 Buy Back (ASX:TLS)

The 2016 Telstra Buy Back – Is it worthwhile?
We have recently built an interactive spreadsheet to help with understanding the Telstra Buy Back and whether this is likely to be profitable versus selling on market.

Our view is lower income tax payers and super funds are generally likely to benefit from the buy back offer.

Investors looking to retain their allocation to Telstra, may even find it more attractive to sell into offer and buy back stock on market.

Further details

analysis, shares, Telstra, buy back, tls, 2016

ANZ Capital Notes 4 (ANZPG) – Analysis

ANZ has just announced the launch of a new income offer: ANZ Capital Notes 4. The first round of access is through a broker firm allocation, prior to shareholder and general offer and listing in September.

The Notes will pay a quarterly coupon of 4.7%-4.9% (margin determined by the book build) over the 90 day bank bill swap rate (BBSW), which was 1.76% as of 19th August. The initial indicative rate will be 6.46%-6.66%pa with the rate to be set on the date of issue. The Notes are expected to

Fixed Income, IPO, Capital Notes, ANZ, review, analysis, shares