Funds Focus

NAB has just announced the launch of their latest income hybrid: NAB Capital Notes.The first round of access is through a broker firm allocation, prior to shareholder offer and listing in March.

The Notes will pay a quarterly coupon of 3.5%-3.7% (rate determined by the bookbuild) over the 90 day bank bill swap rate (BBSW), which was 2.33% as of the 19 February, with an initial indicative rate of 5.83%-6.03%pa. (The first pricing is due to be set on date of issue) The Notes are expected to

ANZ Bank has just announced the launch of a new income offer: ANZ Capital Notes 3.The first round of access is through a broker firm allocation, prior to shareholder offer and listing in March.

The Notes will pay a semi annual coupon of 3.6%-3.8% (rate determined by the bookbuild) over the 180 day bank bill swap rate (BBSW), which was 2.69% as of the 23 January, with an initial indicative rate of 6.19%-6.39%pa. (The first pricing is due to be set on date of issue) The Notes are expected to

An analysts view
Fun for the Melbourne Cup. Each year, Macquarie and RBS Morgans release their analysts from their bear pits.

Eager to please their masters sweetened with a few hours of sunshine if they get it right, the analysts work relentlessly through the year.

The beancounters at PWC have also joined in the fun for the last 3 years, producing their own tip sheet but have yet to pick a winner (arguably reflecting that theres more to horse racing than just numbers).

Perhaps