Funds Focus

Whitefield has announced the launch of a new income offer: Whitefield Convertible Resettable Preference Shares (Whitefield CRPS).The first round of access is through a broker firm allocation, prior to shareholder and general offer and listing in August.

The CRPS will pay a half yearly coupon at 7.00%pa plus franking (expected 10%pa gross). The CRPS will be tradable on the ASX.

This issue will be used primarily to expand the underlying portfolio.

 
Equity returns for fixed

Heritage Bank has just announced the launch of a new income offer: Heritage Bank Retail Bonds.The first round of access is through a broker firm allocation, prior to shareholder offer and listing in December.

The Bonds will pay a quarterly coupon of 7.25%pa, maturing 20th June 2017 (5 years). The bond will be tradable on the ASX.

This issue will be used for general funding purposes and refinance existing debt.

Investors concerned about hidden catches within some of the recent hybrid

5th March 2012 – Please note the initial review below was for a rate at 3.40%-3.60% over the 90 day BBSW. This has since been increased to and indicative rate of 3.80%-4.00% over the 90 day BBSW and we now feel this offer is relatively attractive to investors.

Due to timescales, we have maintained the initial analysis below and provided an update at the end of this review.

Analysis from 1st March 2012

AGL Energy has just announced the launch of a new income offer: AGL Energy