Although the rate of some fixed deadlines still is around 30%, that of many already approaches, and even exceeds, the annual nominal 50%.
Many Argentine system banks already pay up to 55% annual nominal rate (TNA) for their deposits to Fixed term in 30 days pesos. In this context, savers and investors wonder If you should run the risk of illiquidity to take advantage of the potential high profits.
Specifically, Fixed term TNA ranges between 38% and 55%according to the Central Bank of the Argentine Republic (BCRA). In comparison, it is estimated that inflation for the next twelve months will be below 25%, which means that these financial vehicles already provide high real positive returns.
The big problem of the fixed term persists
However, what was not modified is the function of the fixed term, so The minimum placement time is 30 daysa period in which, in Argentina, many things can happen.
For this reason, local market specialists advise Bet on other financial instruments offered by the stock market that generate similar (or even superior) yields, but with a greater liquidity.
“From my point of view, The fixed period in general never is convenient for the lack of liquidity. While at any timely time it can give more than other alternatives in pesos, the reality is that the lack of liquidity ends up canceling those more dots that can have a fixed period at times, “said the financial advisor Fernando Villar.
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What rates options are in the local bag
According to Villar, assets such as LECAPS yield equally or more than the fixed term and can be sold in minutes in the secondary market, which gives the investor an extra advantage in case an event happens that forces him to settle his possession.
“The liquidity that suddenly gives you a LECAP or that gives you another type of instrument in pesos ends up playing in favor of the investor Because, if you need it, you can rescue all money with interest to date, many times without any sanction as sometimes they have fixed deadlines, “said the executive.
For its part, the ideal advisor Martina del Giudice He agreed that there are some better options than the fixed term for the benefits they offer beyond profitability.
“If you are looking for flexibility, to react to macro events or exchange; LECAPS for short deadlines with high real profitability and dual bonds for their adaptive profile for more aggressive profiles with longer horizons“He explained.
Source: Ambito
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