The Lecaps are becoming a hot topic among investors. Features of the instrument and how to invest in this instrument.
He Central Bank (BCRA) sharply cut interest rates reference this year, which directly impacted the fixed terms. Several entities currently offer a Annual nominal rate (APR) less than 40% for these placementswhen, for example, in March yields reached 110% at 30 days. All this in the midst of a scenario in which inflation is close to 4% per month, after falling sharply from the levels it reached at the beginning of the year (over 20% per month).
In any case, the rates on fixed-term deposits remain below the Consumer Price Index (CPI). However, in the market, the real positive rate (exceeding the CPI) has been appearing for months in an instrument that, day by day, is gaining more and more followers: Lecaps or Treasury Bills Capitalizable in Pesos.
Lecaps are financial instruments that offer an attractive monthly return, exceeding the traditional rates of fixed terms. Below are the details Two investment options with different terms and rates.
Lecap at 87 days (S11N4)
This Lecap offers a monthly yield of 3.6%, higher than the monthly rate of 2.9% offered by conventional fixed terms. If you decide to invest $100,000 in this bill, you will receive $110,540 at maturity.The minimum investment amount is $10,000, and both the subscription and the payment are made in pesos. The maturity is scheduled for November 11, 2024, at which time the invested capital will be returned. In addition, the investment will be reflected in the portfolios within 48 business hours after the transaction.
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Lecap at 182 days (S14F5)
On the other hand, the Lecap at 182 days pays a monthly yield of 3.80%, also higher than the 2.9% offered by fixed-term deposits. If you invest $100,000, you will get $124,768 at maturity.
As with the previous option, the minimum amount to invest is $10,000, and both the subscription and the payment are made in pesos. This Lecap expires on February 14, 2025, and the capital will be returned at that time. The investment will be reflected in the portfolios within 48 business hours.
Advantages of investing in Lecaps
Investing in these instruments offers several advantages:
- Low risk: These financial instruments are considered low risk and offer a higher return than fixed-term deposits.
- Portfolio diversification: incorporating Lecaps Add variety and stability to your portfolio.
- Market flexibility: you can invest both in the primary market (at the time of bidding) and in the secondary market (once the price begins to fluctuate).
Ways to invest in Lecaps
- Primary marketThis is where Lecaps are initially issued. The subscription deadlines, interest rate and maturity are known in advance. You can check the current tenders on the relevant website.
- Secondary market: In this market, you can buy and sell Lecaps to other investors any business day in pesos or dollars, depending on the quote and liquidity. The bills available for purchase and sale can be consulted in the Quotes Panel.
The performance of Lecaps is defined in terms of effective monthly rate in the primary market, where the initial public offering (IPO) takes place. In this market, the National State issues and auctions the bills to obtain the necessary funding.
These instruments offer competitive returns and security.being a solid alternative for those looking to optimize their portfolio and obtain greater benefits than those offered by traditional options such as fixed terms.
Source: Ambito
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