Silvana Saldisuri
05/27/2021 6:00 AM
Clarín.com
Services
Updated 05/27/2021 6:00 AM
Faced with the still high inflation, the restrictions to access the purchase of official dollars and the very volatile blue, savers see their
pesos weaken
and lose value in the midst of the economic instability that the country is going through.
But there are still options to
dollarize
and obtain profits of up to
17% per year
to protect and make the money profitable.
What is the instrument that the experts recommend and how is it invested.
Some of the operations that were very attractive until not long ago in Argentina are currently offering a more modest return.
There are different options to dollarize and obtain profits of up to 17% per year.
Photo: Clarín archive.
One of these cases was the Cedears, or Argentine Certificates of Deposits, which are financial assets with local operations, which represent fractions of shares of leading companies listed abroad, and which can be purchased in both pesos and dollars in the market local.
Currently those that are taking their place, as an
alternative to enter pesos and obtain dollars
with attractive profitability, are
corporate
negotiable obligations
in US currency.
What are negotiable obligations?
They are private debt instruments that can be traded on the Capital Market.
In simpler words, they are
bonds
that can be issued by large companies and that can be bought and sold on the Stock Exchange.
When a company needs funds, it can borrow them through the issuance of negotiable obligations, also known as
ONs
that operate on the local Stock Exchange.
Negotiable obligations can be bought and sold on the Stock Exchange.
Photo: Clarín Archive.
In this way, the company contracts debt with the bondholders, who are the investors who bought those securities, and undertakes to cancel that debt within the agreed period together with the corresponding interest.
The
principal
of the obligations is generally returned
in annual or semi-annual installments
called amortizations, and generates an interest that can be of fixed or variable rate, called
rent payment
.
To better understand what it is about,
Karina Díaz
,
coordinator of the UADE Finance Laboratory
, in dialogue with
Clarín
, gave an example comparing the NO with a loan.
"When a person requests a mortgage loan, for example, what they do is request money. Then they will have to return that amount to the entity that gave it to them, along with an interest. In this case the same thing happens: the issuer of negotiable obligations ask the investor for money and then he will return the capital and pay him an interest, "he described.
The principal of the obligations is generally returned in annual or semi-annual installments called amortizations.
Photo: Clarín Archive
What gains do the negotiable obligations leave?
The attractiveness of this instrument for investors is the
interest gain
paid by the issuer.
In addition, investors can
sell the negotiable obligations
in the capital market during their term and obtain the profit that can arise from the difference between the purchase price and the sale price.
According to the finance expert, Karina Díaz, "among the
ON most traded in dollars
but with some risk,
YPF
stands out
(due 2025) which
yields 17%
. There is also
Arcor
(due 2023) yields
7%
and Tecpetrol (expiration 2022), with a yield of 5%.
"These ONs, which have foreign legislation, were issued in dollars and the investor can acquire them both in US currency and by paying with pesos at the cash exchange rate with settlement," explained the professor at UADE.
NOs operate on the Stock Exchange and do not have a minimum amount to start investing.
Photo: Clarín Archive
Meanwhile, he stressed that "the investor can
diversify
his portfolio by acquiring debt from local companies but at the same time
ensure the hard currency
in the collection of capital and interest."
For his part,
Ezequiel Starobinsky,
Liebre Capital director, stressed that these companies, which are mostly oil companies, agro-exporters and generate dollars, have
solid balance sheets,
so the most likely thing is that they do not have problems in their payment flows, which makes
more secure
".
In this sense, the ON with less risk also stood out: that of the
Vista company
(due in 2022) with
6% gains
, and Pampa
Energía
and
Cresud
with similar maturities and
8%
yields
.
Step by step, how to start investing
1.
Choose an ALYC agent (Settlement and clearing agent), or better known as a
broker or financial agency
, such as Find InvertirOnline, Personal Portfolio, Balance Sheet or Hare Capital.
To gain security, it can be verified that the selected entity is authorized by the National Securities Commission (CNV) and that it appears with a registration number on its website.
2.
Open an
Investment Account
.
This management is quick and easy and is done through the website of the agency with which you have chosen to operate.
A selfie of the face, a photo of the front and another of the back of the DNI and some personal information will be requested.
It is 100% online, with no opening or maintenance cost.
Among the ON most traded in dollars but with some risk, YPF stands out: it yields 17%.
Photo: Clarín archive.
3.
Enter money to the Investment account
through a transfer of pesos or dollars.
It must be from a bank account, in which it is the holder, to the account that appears on the page of the financial agency.
Once the money is credited, you can
start trading.
In the case of dollar notes, it is as if you were going to
buy a bond or a stock
.
There are some that
do not have a minimum amount
to start investing, although it
is recommended to do so from US $ 100
, or its equivalent in pesos $ 15,800 (at MEP dollar value).
There are others that do require a minimum of US $ 1,000, it depends on the ON.
When can the notes be sold?
Although negotiable obligations can be held until maturity, an investor can
decide to sell them on the market at any time
prior to that date.
This can be done either because the investor needs the money he invested or because he finds a more profitable investment in the market and wants to change it.
LN
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