Against the background of a small but almost a month-long correction in the segment of high-yield bonds, the PRObonds # 2 portfolio, which includes both bonds and speculative positions, surpassed portfolio # 1 in yield. Acurrent yields: portfolio # 1 – 13.1%, portfolio # 2 – 13.3% per annum (for the last 365 days).
There are no plans to change the bond position in the next 2-3 weeks. The latest acquisition was the release Footwear of Russia 001P-04 (1.5 billion rubles, BBB, 11.00% / 11.57%)which was added to portfolios a week ago. The placement of this issue, which began last Tuesday, should end today or tomorrow… This will allow the bond part of the portfolios to show some surge in yields due to the decrease in pressure on the previous bond issues of Obuv Rossii (due to the placement of a new one) and the proposed upside in this issue after its placement.
We plan to add new bond positions after new placements to portfolios in the second half of February and in the first half of March.
And henceforth portfolios will target an audience of qualified investors… A number of bond issues that will be added to portfolios will be designed exclusively for qualified investors, we do not plan to create separate portfolios for qualified and unqualified investors.
Portfolio # 2 speculative positions remain unchanged. Whereas hedging short position in the MOEX Index futures in both portfolios closes at market price today…
Not an investment recommendation (https://www.probonds.ru/upload/files/15/35d1bb8a/Disklei%CC%86mer_dlya_portfelei%CC%86.pdf)