In a year where Parallel exchange rates remained practically stable until Maythen registering a strong bullish rally, while Interest rates remained negative in real termsit is interesting to analyze which market asset led the performance ranking in the first seven months of 2024. It should be noted that, Although stock market instruments have enjoyed several bullish streaks, the positive sign was not of the same magnitude for everyone.
Those who have bet on the Dolar blueso far this year, They achieved a nominal return of 33%, which implies an advance of $345. For its part, If MEP dollars were purchased, the increase was 34%, or a nominal increase of $338. In these cases, Both are big losers in 2024 against inflation, which accumulated an advance in the first half of the year alone of almost 80%.
If we analyze the stock market, the S&P Merval measured in pesos advanced 57.5% in the year, but in Dollars rose 15.21%. As for the leading actionsthe ones that appreciated the most were the banking ones (and even managed to rise above the CPI): Macro Bank (+131.85), Galicia Financial Group (+128.11%), and BBVA Bank (+94.4%). It surpasses all of them Commercial Society of the Plata, which has accumulated an increase of 186.10% in 2024.
The dollar bondsfor their part, recorded ups and downs, but this did not prevent them accumulate a good profit in dollars so far this year. Thus, the titles that rise the most in 2024 are: the Bonar 2029 (+43.3%), the Global 2029 (+40.4%), the Bonar 2030 (+38.3%), and the Global 2030 (+36.5%).
Regarding the Mutual Investment Funds (FCI), Low rates affected the succulent returns they achieved in 2023, especially the Dollar linkedthose funds that are tied to the evolution of the official exchange rate. It was thus that One of the managers’ strategies in 2024 was to launch T+0 funds, which include Lecaps, capitalizable Treasury bills, market stars among investments in pesos.
According to a ranking of MegaQMthose that had the best performance so far this year were: Quinquela Pesos – Class B (+76.2%), Megainver Liquidity Pesos – Class BM (+75.9%), Lombard Income in Pesos (+75%), and Goal Weights – Class B (+74.7%).
Winning and losing financial assets so far in 2024
A report by GMA Capital which he accessed Ambit realizes that practically There are no financial assets that have been able to beat inflation so far this year (measurement in pesos is until July 31). The only one who managed to do so was UVA fixed terms, with a real yield of 0.6%.
The biggest losses were recorded in real terms, however, the official dollar (-51%), the CCL dollar (-44.1%), and dual bonds (-44.3%).
On the other hand, if The ranking is made based on the CCL dollarwe see that UVA fixed-term deposits register a rise of 79.8%, followed by CER-linked instruments with 78.8%the BOTES bonds with 78.8%, and then there are the dollar bonds, the Global, with 33.9% and the Bonares, with 33.4%.
Now, if we see only July returnsthe Lecaps appear as The winners, with a 6.7% return in pesos, followed by the UVA fixed-term deposit, with 4.9%, and the CER bonds, with 4.8%.
Source: Ambito
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