I'd echo that re FCLPA. Quite apart from the running yield at these rates, if you pick up a portfolio of say 5 similar debt securities at around this 20c in the dollar level (e.g. MXUPA as Watford mentions), you'll still be ahead if 4 of the 5 go under or if only 1 of the 5 makes it to conversion. You can do the arithmetic for the juicy upsides if more make it through or for those currently trading at higher prices. From underestimating & underpricing risk the market has now gone to the other extreme. Obviously the key is to pick a basket of non-basket cases, and the Futuris Hybrid is a reasonable candidate, especially since you'll get 6% of your investment back with the imminent divi.
I'd echo that re FCLPA. Quite apart from the running yield at...
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Last
$1.63 |
Change
0.030(1.88%) |
Mkt cap ! $549.7M | |||
| Open | High | Low | Value | Volume |
| $1.60 | $1.63 | $1.55 | $58.94K | 37.17K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 1298 | $1.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.64 | 643 | 3 |
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| Last trade - 14.05pm 07/08/2024 (20 minute delay) ? |
| FCL (ASX) Chart |