House Prices

Learning about shares: Few nasty surprises in fixed interest market

Barbara asks: We touched on debt securities a couple of weeks ago when we talked about asset allocation. I'm interested in learning about how they work. Can you tell me more?

Dan Dividend responds: Debt (or fixed interest) securities - despite often being viewed as the rather conservative cousin of shares - are a big part of the investment world. At last count there were

Tuesday, April 20th 2004

72 securities listed on NZX's debt market, the NZDX.

You can use debt securities to provide diversification in your portfolio as they have different risk and return characteristics to shares, so they tend to move in different cycles.

So what are debt securities?

As we touched on a couple of weeks ago, companies issue debt securities for sale to raise money to fund growth, in much the same way as they issue shares. It's not just companies in this business either - the Government also has debt securities listed on the NZDX.

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SBS FirstHome Combo 4.29
Unity First Home Buyer special 4.29
Co-operative Bank - First Home Special 4.85
China Construction Bank 4.85
ICBC 4.85
TSB Special 4.89
Kiwibank Special 4.89
ASB Bank 4.89
Westpac Special 4.89
BNZ - Std 4.89
AIA - Go Home Loans 4.89
Nelson Building Society 4.93
ICBC 4.95
SBS Bank Special 4.95
China Construction Bank 4.95
Wairarapa Building Society 4.95
TSB Special 4.95
ANZ Special 4.95
ASB Bank 4.95
Kainga Ora 4.95
Westpac Special 4.95
AIA - Go Home Loans 4.95
SBS Bank Special 5.39
Westpac Special 5.39
ICBC 5.39
Co-operative Bank - Owner Occ 5.59
BNZ - Std 5.59
BNZ - Classic 5.59
AIA - Go Home Loans 5.59
ASB Bank 5.59
Kainga Ora 5.69
Kiwibank Special 5.79
ANZ 5.79
SBS Construction lending for FHB 3.94
AIA - Back My Build 4.44
CFML 321 Loans 4.99
Co-operative Bank - Owner Occ 5.95
Co-operative Bank - Standard 5.95
Heartland Bank - Online 5.99
Pepper Money Prime 6.29
Kiwibank - Offset 6.35
Kiwibank 6.35
TSB Special 6.39
ASB Bank 6.44

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