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After the inflation data: what assets do you recommend to protect savings?

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The inflation data for February was 6.6% and from IOL Invertionline they recommend which assets to invest in to cover savings against that variable in the economy.


The National Institute of Statistics and Censuses (INDEC) disseminated the inflation data for February, which registered a monthly variation of 6.6%, above the 6% of the previous month, and an interannual variation of 102.5%. The categories that showed the greatest increases were “Food and non-alcoholic beverages” and “Communication”, with increases of 9.8% and 7.8% respectively. While core inflation (less volatile prices in the economy) also showed considerable acceleration and stood at 7.7%. And, in this context, Maximiliano Donzelli, Head of Research at inverted IOL online Analyze what to invest in to protect savings.

As a prelude to his analysis, Donzelli points out that, according to the forecasts of the BCRA’s Survey of Market Expectations (REM), for 2023, there was an upward adjustment of inflation expectations, with a correction of 1.5pp , going from 99.9% to 98.4%, which would mean that they would be two continuous years with a inflation above 90%. “Therefore, going forward, the forecasts are not yet positive as expectations are not anchored and that certain monetary policies such as the increase in remunerated liabilities of the BCRA will not help for this to happen either,” says the report.

Thinking in the shortest term

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In this context, from IOL they point out that, to respond to the environment, “we must consider the investment term: short or long term”. And, in the segment of short term (less than 6 months), mention the National Treasury bill that adjusts capital by CER maturing on June 16, 2023, which operates with a considerable volume and to date has a yield of CER + 3.7%, with an estimated annual yield of 121.3%. Thus, it is an instrument that manages to accompany inflation and can be an interesting alternative.

Longer-term investments

Thinking in a longer term (more than 9 months), Donzelli mentions the national government bond TX26, which matures in 2026, adjusts its capital by the CER (it currently has an IRR date of CER+12.5%), and also manages to keep pace with inflation.

And finally, he mentions the AdCap Pesos Plus Fund, which is positioned in short-term assets, both in fixed-rate securities and in CER-rate securities, and seeks strategic positioning, offering inflation and yield coverage to obtain a return of over a fixed term.

These are the three instruments that the IOL representative considers most attractive in a context in which, after the February inflation data was published, “more than ever, knowing what to invest in is key.”

Source: Ambito

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