Furthermore, according to analysts, dollarized assets are scarce in the local market. So we set out to answer: What variants do I have to invest in dollars? and most importantly, how risky or not those investments are.
In dialogue with Ámbito, Diego Martínez Burzaco, Head of Research & Strategy at Inviu, commented on his options to dollarize the Christmas bonus. “The first thing is to buy MEP dollar (which in the case of Inviu you can do with a click) keeping in mind that this is not an investment but rather converting pesos to dollars”, he stressed.
Other options, from a lower risk level to a higher one, is to choose a Common Investment Fund that invests in negotiable obligations, that is, corporate debt. “There one is investing dollars in private companies,” she clarified.
“Another option is to directly buy a Negotiable Obligation in dollarsif one has confidence in a particular company to keep it until maturity”, Diego Martínez Burzaco highlighted and added: “Also, you can buy Argentine government bonds in dollars. Obviously this has a high risk, given the circumstances of the Argentine macro economy and the financial situation of the country’s treasury.”
And one last option to become dollarized -and whose risk depends on the option chosen- are the Cedears “which are certificates that operate locally in pesos or dollars and that represent shares or ETFs of foreign companies listed abroad”, closed the Head of Research & Strategy at Inviu.
The market analyst, Santiago Llullin dialogue with Ámbito, also agreed that one option is “buy Cedears in dollars” but said that “there are few that have good liquidity.” Another alternative is “to get some Negotiable Obligation from some company but, at most, it can yield 1% per month and is subject to the company paying and getting the dollars to pay it back to you.
One more link which, as defined by Llull, is “quite risky”, are the argentinian bonds with international law or local law. “They are earning well above 30% in dollars between now and 2030, to take some reference, but whose price in the market is a price assigned to a price in default. The operation to be carried out is high risk,” he warned.
Regarding the sureties in dollars, the analyst maintained that “the yield is very little, between 1 and 1.5%” and that it also varies. “My advice now is to find a way to be calm. In times of great turbulence, it is much more important not to lose so much than to try to win,” he assured, since investments in dollars “is the most complex thing in the market” due to the volatility of the type change in the last three years.
To its turn, Rafael Di Giorno, director of Proficio Investmentsaid, in a dialogue with Ámbito, that his options at this time to dollarize savings would be “in dollar bonds Ford 2025, which yields 5%, and Ecopetrol 2023, which yields 4.5%, seem to me to be a good credit. Among the local ones, I like Capex 2023 and Pampa 2023. Both yield between 6 and 8% and are companies with good cash flow, although they depend on authorizations to pay in dollars.”
Lastly, he highlighted that the bonus of Transportadora Gas del Sur it is also a good alternative but “it is not for a bonus since the minimum chip is US$150,000”.
Source: Ambito
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