The INDEC announced this Wednesday the inflation for August, which stood at 12.5% monthly, and marked a record in 32 years. How to take advantage of this information to take care of your savings?
The appetite for instruments tied to the CER is back: what options do experts recommend
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August inflation shot up to 12.4% in Augustin this way the Consumer Price Index (CPI) for the eighth month of the year had the highest record since February 1991, when Argentina was on its way out of hyperinflation. In turn, the price variation reached 124.4% year-on-year, the highest since August 1991. Given this, investors will wonder how to protect their savings in pesos.
“We consider that positioning in CER assets and in some assets that adjust for devaluation represent the best option to protect value against inflation (always considering the maturity dates and the investor profile)”, he assured Maximiliano Donzelli, Head of Research at IOLinvestonline. And he provided several alternatives.
For investors who want to invest thinking about a short termwhich would be a little less than 6 months, suggested investing in the National Treasury bill X23N3 that adjusts capital by CER. “This alternative would achieve maintain a performance with inflation and exceeding the fixed term. At the same time, it operates with a considerable volume and to date has an inflation yield of +3.31%. Investing $1,000 today, you would get about $1,250 at maturity,” Donzelli specified.
For those investors who have a horizon of medium termrecommended the T2X4 national bond that adjusts capital by CER. “This bond maturing on July 26, 2024, also operates with considerable volume. To date it has a yield of CER +3.9%,” commented the analyst. “Also thinking about the medium term, we consider that it is a good idea to have a position in the TV24 National Bonus linked to the dollar, thus creating coverage against devaluation.”
From PPI, for their part, they assured that “In times of high inflation, Common Investment Funds tied to the CER can be a good coverage option for your pesos.” In this regard, they offered three alternatives: short FCI (return in the year of 79%, IRR CER -9%, and volatility of 7.6%), average FCI (return in the year of 81.8%, IRR CER -4%, and a volatility of 9.9%) and long FCI (return in the year of 85%, IRR CER +0.4%, and a volatility of 10.2%).
UVA fixed terms: is it worth investing?
From September 16 to October 12, the August CPI, which was 12.4%, will begin to apply to measure the UVA. If this rate is compared to the interest currently offered by the traditional fixed term, it was far behind (the monthly interest rate of the traditional fixed term after the PASO is located at 8.9%). However It must be remembered that the UVA fixed term has a minimum term of three months.
“Between traditional fixed term and UVA UVA is better by yield tied to inflation a priori considering that UVA fixed term is 90 days“, he had told this medium the economist Jorge Neyro in the run-up to the recent inflation data being known, but he warned: “In any case, during electoral times, preferences are very biased towards the dollar in some variant.”
For Ignacio Morales, Financial Analyst at Wise Capital: “With traditional fixed term rates at 118% TNA, it is more convenient to do a UVA fixed term. Today the traditional one pays 9.7% TEM.” Thus, he clarified that As of September 16, you begin to pay the August CPI.
Source: Ambito
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