The yields on capitalization bills (Lecaps) were compressed in line with the drop in inflation expected for the end of the year. Experts give their opinion about this instrument.
The capitalization letters (Lecaps) managed to obtain returns of between 4.5% and 5% per month, despite this, with the stabilization of inflation at 4% per month, rates fell to 3.5% on average. Despite this, Experts still maintain that it is a profitable investment.
Juan Ignacion AlraPortfolio Manager of Tpcg Group, in conversation with Scope that, “today, The most interesting short-term investments are still Lecaps, which perform better than fixed terms‘money market’ funds and have a short duration.” “It is an interesting tool to invest in periods of adjustment in the economy,” he assured.
For his part, the capital markets expert Marcelo Bastante also confirmed that “for short-term investments, Lecaps are an interesting investment alternative“.
In this regard, he explained that The retail investor can enter the secondary market or wait for the next tenders and another optionfor those who are not so familiar, is entering common investment funds (FCIs), which exist from several administrators.
“The bill issued by the Treasury maturing in December of this year presents us with an excellent opportunity to bet on the short-term carry trade. It yields an effective monthly rate of 3.7%, which could be in line with upcoming inflation,” said Maximiliano Donzelli, head of Investment Strategies at Invertir Online.
“In turn, it will allow us to reduce the risk and duration of the portfolio. In a scenario where inflation converges towards 3% monthly until the end of the year, This letter will allow us to obtain an interesting return above inflation“added the executive.
Source: Ambito
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