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Edelweiss Nifty PSU Bond plus SDL Index Fund
March 10, 2021During the last decade, retail and corporate investors were very comfortable in investing in Fixed maturity Plans (FMP). FMP had a clear earning visibility, and it was giving better Post Tax return as...
Bond yield has hardened in last fortnight
February 24, 2021Yields on Ten year GOI security bond has gone up by 25 basis points after Union Budget and RBI policy announcement (Yield and price are inversely related). There is a trust deficit among market partic...
Forthcoming private placement issues – Fixed Income Securities
February 23, 2021In present scenario investors are scouting for higher yield/interest on their investment in Fixed Income Securities. Above two instruments are offering higher interest rate and are available at par. B...
Fixed Income Services
July 10, 2016Debt Market Intermediation Broking and Trading in all Debt Instruments like G-Sec., SDLs, PSU Bonds, CPs, etc Structured Deals in conjunction with the Investment Banking Team Knowledge Sharing through...
With an experience of 18 years in the Capital Markets, Mr. Vikram Dalal is one of the veterans in the industry. Armed with Masters in Marketing Management (MMM) from NMIMS (Mumbai University) & Final (I) group of ICWAI (Kolkata), he has a right synergy between finance and marketing.
In the year 1999, he independently started his career as an equity and mutual fund advisor. And in the new millennium, he realised the role the fixed income markets could play in the growing Indian economy and established Synergee Capital Services Pvt Ltd.
He is at the helm of an organisation and is responsible for the overall business development and growth. He has been the key driver of the company’s ascent to a leadership position in bond market.
He was a visiting faculty at Bhavan’s college (Mumbai), teaching Financial Management to third year BMS (Bachelor in Management Studies) students.
Mrs. Kinnari Dalal is a competent professional with deep insight and understanding of fixed income securities market. She has an excellent academics with first class in Bachelor and Masters in Commerce from M.S University Baroda (Gujarat) and a Diploma in Business Management from NMIMS (Mumbai). She is responsible for overall administration and back office operation of SCSPL. Since inception, she has played a very vital role in overall growth and expansion of SCSPL.
I have been dealing with Vikram for about 10 years now. He taught me the nuances of the Bond market. He is highly trustworthy and has extensive knowledge on debt investments. Thanks to him I am now wedded to debt instruments and have quite a diverse portfolio within debt.
Mr. Vikram is my financial advisor, and I have been buying various Income Securities from him, since past ten years. I have always found integrity and consistency in his advice and approach. He tries to understand the need of his investor, and accordingly gives his suggestion in Fixed Income Securities and Mutual Funds. He is always updated with all the latest development in Finance Market. I will strongly recommend the services of Synergee Capital Services Pvt Ltd.
Shri Rameshbhai Pardiwala
“I have been dealing with Mr.Vikram Dalal Managing Director – Synergee Capital Services Pvt. Ltd.
since over a decade . In these turbulent financial times I greatly appreciate his
financial acumen, practical market related guidance & transparent dealings.
As a satisfied client I strongly recommend Synergee Capital Services Pvt. Ltd. to
Individuals & Corporates for safe fruitful investments.”
Cyrus N Bhesania
“We have found the knowledge base and services of Synergee Capital Services Pvt Ltd, always prompt and efficient”
“We have been associated with, Mr. Vikram Dalal (MD) of Synergee Capital Services Pvt Ltd, since past 15 years. He is our Financial advisor for Fixed Income Securities and Mutual Funds.
We have found his advice very consistent. And his approach towards investment is very conservative. He is approachable and updated with latest development in Financial Market.
We highly recommend the services of Synergee capital Services Pvt Ltd.”
“Our association with Mr.Dalal has been a very long and fruitful one and Systematix has benefited greatly from the depth of his understanding of the Indian bond markets and instruments. We find him very ethical, transparent and fair in his dealings. He has also been extremely resourceful in sourcing bonds for us.”
I am very happy to see your web site. It is well designed to provide the necessary information. I am sure you will update it on a continual basis.
It has been a pleasure for me to purchase some tax free debentures through your organization. I found your services very professional and efficient. I appreciated your personal assistance.
I have known Mr. Vikram Dalal of Synergee Capital for over 20 years. Initially he handled the purchase and sale of Securities as a sub-broker of Motilal Oswal. I had found him to be knowledgeable, diligent and looked after my interests by giving me correct advice. Subsequently he started his own venture in selling Government and Non-Government bonds. Here also his advice was timely . He conducted all his transactions professionally. I found him to be up-right and honest. I wish him success.
Dr. Kirti Sheth
My personal experience with Synergee Capital has been extremely rewarding as I received correct and timely advice on my investment needs. This has not only resulted in a relative safety net for me in terms of fixed income and growth in a time when there is relatively high levels of volatility in the financial markets. This yeomanry service to the customers comes from the experience, forethought and ability to reasonably predict shape of things to come, of Mr Vikram Dalal, the MD of Synergee Capital.
I have no hesitation in recommending the services of Synergee Capital to all those investors, small and big, for chanellising their investment needs into proper financial instruments, with safety and growth prospects
Retail investors get licence to bond & bargain
Middle-class savings could now go into directly buying government bonds after the central bank Monday allowed retail investors to buy into sovereign debt through dedicated accounts that wouldn’t attract costs.
Bharat Bond ETF’s 6% return draws attention as other yields decline
Rich investors are booking profits in tax-free bonds as yields have dropped to 4.3-4.5%. Some of them are moving to the Bharat Bond ETF, a portfolio of public sector companies with a AAA rating. “Investors can earn a 6% post-tax return in the Bharat Bond ETF series that matures in 2030 and 2031.
Non-tax filers may move to NCDs, debt mutual funds on high TDS fears
Appetite for fixed income products like non-convertible debentures (NCDs) and select debt mutual funds is likely to increase among individuals who have not been filing tax returns. This follows a Union Budget announcement in February that requires individuals who have not filed tax returns for the previous two financial years
Should you buy SGBs, digital gold or ETF this Akshaya Tritiya on 14 May
Akshaya Tritiya has become synonymous with gold buying. You can use the occasion to add gold to your portfolio. According to investment advisors, investors should have a 5-15% allocation to gold, depending on their preference for the yellow metal.
Investors take a fancy to market-linked debentures returns
Debt returns have been rather depressed, with rates plunging to record lows. So, how does one earn more from this asset class – at least more than the headline inflation rate? One way to do this is to buy into MLDs (market-linked debentures), now offered by the likes of Piramal Finance or Shriram Transport Finance.
Mutual funds may stay away from perpetual bonds in the long run
Mutual funds could stay away from buying new issuances or existing papers that would have a call maturity beyond March 2023 after the Securities and Exchange Board of India’s revised guidelines still left a gap between the suggested and market valuations of these instruments.
Debt mutual fund investors stare at losses after new Sebi directive
Depending on the quantum of selling, yields on bank perpetual bonds could surge 50-100 basis points. The spike will be even higher in the case of NBFC perpetual bonds.
InvITs flounder on tepid returns
Investment trusts are finding few takers as yields on these debt-like instruments barely match the risks associated with them when compared with risk free returns from government or triple A rated bonds.
Direct investing in G-secs to be easier now. Should you opt in?
If RBI is able to address the issue of liquidity and ease of investing through the new platform, we can have a vibrant market for all stakeholders.
Coming soon: Retail investors can directly invest in government securities with RBI
Retail investors looking for high yield on their fixed income investments typically find investments in government bonds unattractive.
Will retail investors take up RBI’s offer to open gilt accounts?
Understanding of GILTS, conversion from SGL to demat and vice versa is cumbersome, liquidity for retail lot (anything less than 5 crore is odd lot) and low yield or return compared to other AAA-rated or PSU or private sector NCD are some of the issues.
Are PFC retail bonds an attractive alternative to bank fixed deposits?
Government-owned Power Finance Corporation is set to launch its public bond sale for retail investors on Friday offering up to 7.5%. The issue seeks to garner Rs 5,000 crore.This is the first such issuance since the State Bank of India had floated a public offer about a decade ago. About fourth-fifth of the issuance is earmarked for retail and wealthy individual investors. Subscriptions close January 29.
High yields draw HNIs to long-dated GSecs
Wealthy individuals are buying long-term government bonds with 15-to-30 year maturities as they offer returns nearly double of the available short-term securities, including Treasury Bills and other money market instruments.
Look at liquidity when investing in municipal bonds
The risk is relatively low. However, the bonds don’t have any explicit guarantee. There is an implicit guarantee as it is assumed that the state government will repay in case the municipal corporation faces any cash flow issues.
Kerala unlikely to draw down full borrowing entitlement this fiscal
Earlier, the gap between G-Secs and SDLs or the premium on SDLs in relation to that of G-Secs, used to hover around 70 to 80 basis points, but this has fallen to 40 to 50 basis points after RBI entered the market with OMO.
Need regular income after retirement? Here are some safe investment options
Broadly, if you invest a lump-sum now, you get regular payouts – be it monthly, quarterly or annually. The returns work out to 5.75-5.9 percent annually over 20-30 years.
Why selling bonds and NCDs in the market isn’t easy for retail investors
Investors should check for YTM, which is nothing but return on investment. This should not be confused with current yield of the bond.
HNIs, sovereign funds latch onto REITs in yields chase
We have been receiving a lot of queries from investors seeking information on REIT investments. If you have surplus money, you can invest about 5-8 percent in those listed units earning higher than the average returns in debt investments.
Should you invest in 30-year government bonds?
These bonds are a good fit for investors who want to buy and hold till maturity.
How you can profit from gilt funds’ fluctuating fortunes
Over the long-run, gilt funds have delivered returns. These funds have given more or less comparable returns vis-à-vis other duration products.
Bank FD passé, the rich rushing to perpetual bonds
Wealthy investors are breaking their low yielding fixed deposits in banks to invest in bank perpetual bonds, which earn about 150-200 basis points higher interst rates at the cost of higher risk.
Bharat Bond ETF: How attractive is it and what should investors do?
Chasing historical return is risky and the investors of recently launched Bharat Bond Exchange Traded Fund (ETF) are also realising this.
Better options than bank fixed deposits
To be sure, banks have reduced their fixed deposits (FD) rates due to increased inflows and lack of safe lending opportunities.
What makes latest floating-rate government bonds attractive
Savers in lower tax brackets are set to benefit from a new set of sovereign debt papers being offered from next month, with the central bank selling the floating-rate securities linked to National Savings Certificates for the first time to individuals and Hindu Undivided Families (HUFs).
Top MFs gain larger share of industry’s debt pie post-Franklin wind-up
Investors come into MFs so that they can exit according to their cash-flow requirements. Except for triple A-rated papers, liquidity for lower-rated papers has been limited. Investors want to stick with larger-sized schemes, where liquidity is expected to be well-managed.
MARKET BORROWING: KERALA STRIKES ‘BEST PRICING’ AT SDL AUCTION
Market had discounted rating downgrade (one notch) by Moody’s. “Excess liquidity in the system is driving the bond yields.
Bharat Bond ETF Investors can Earn Up to 150 bps Over Tax-free Bonds
It makes sense for a retail investor at higher tax brackets to subscribe to Bharat ETF units. Wealthy investors have now turned risk-averse amid economic uncertainties. They now prefer secured returns to astronomical returns.
Here’s why investors seek safety of debt investment
Many investors have shied away from the equity markets. With investable money, they are seeking 7.75 per cent RBI Saving (Taxable) Bonds. Since the instrument is a fixed deposit, is not tradable in the secondary market. But the instrument could be a steady long-term source of interest income.
Lenders seek top-ups, replacements for debt schemes given as collateral for loans
After specific fund closure, brokerages are not willing to allow other trading limits for investors, who earlier availed credit limit against their debt fund.
In flight to safety, Bharat Bond ETF trumps other fixed-income products
Due to the disruption on account of Covid-19, there is further risk aversion and a flight to safety. Because of the credit risk aversion, investment in a basket of AAA rated government companies that have a target maturity date and low cost is the best option.
Liquid funds, GOI bonds are better bets
The GOI bond issued by the RBI is one of the safest investments that one can get in today’s environment and earn as high as 7.75%. The government has yet not cut rates here even though small savings are down.
NCDs offer 4-6% more than bank FDs, but limit your exposures
Typically, a AAA rated paper trades 100 basis points over the 10-year GSec, while a AA rated paper commands a 200 basis points premium. Currently, the 10-year benchmark trades at 6.4 per cent, which means a AAA rated NCD should trade at 7.4-7.5 per cent and a AA rated NCD at 8.5-9 per cent.
Investors move away from preference shares to NCDs
Investors are looking to exit from preference shares. Investors primarily used to invest in preference shares as dividend income was tax-free up to Rs 10 lakh, and thereafter, it was to be taxed at 10 per cent. Technically, post budget, there is parity between interest and dividend income.
Investors in higher tax bracket find solace in tax-free bonds post Budget
Tax-free bonds are the only instruments which are truly tax free and will carry that status till maturity as it was approved by parliament. There is interest amongst investors in these bonds especially after the budget, when dividend from preference shares started getting taxed, as per tax slab.
Gold, fixed-income wrap 2019: Yellow metal’s prices zoom, long-term bonds deliver
After the debacle of Infrastructure Leasing & Financial Services (IL&FS) in 2018, the magnitude of defaults increased as names with good credit ratings joined the list of defaulters. This spooked bond investors’ sentiment further.
SIB TIER 1 BOND COUPON RATE TRIGGERS DEBATE ON PRICING
Investing in SIB Tier 1 bond that yields 13.75 per cent could be a good investment now given the fact that SIB has a good track record and has been reporting profit quarter after quarter.
Five tax-free bonds for capital safety and tax-free interest income
Post IL&FS default, it is prudent to invest in securities that are issued by central government or public sector enterprises. We suggest short maturity tax-free bonds. The bonds are listed on the stock exchanges and are available in secondary market as well.
Fixed income investors can take small exposure to IFCI’s NCDs: Analysts
The government has a 56 per cent holding in the company and has been giving timely support that is comforting for investors despite the weak rating of BBB-
Bharat Bond ETF finds many takers among NRIs
A basket of AAA rated government companies, target maturity date and extremely low cost are driving NRIs to this bond. There is seeing substantial interest from NRI families visiting India from London, Singapore and Dubai.
Bharat Bond ETF may fetch up to Rs 15,000 cr, launch likely in two series
It is important that investors are clearly informed about the risk-return profile of the product so that there are not many negative surprises. Industry experts say the product will give the option to investors to match their goals with maturities of the underlying bonds.
Investors flocking to tax-free, government bonds
There is safety and no credit risk in both GOI bonds. In addition, investors earn a good 100-125 basis points higher than bank deposits.
More Skin In The Game | NBFC/ Company deposits
Factors such as management, annual accounts, rating and past track record of the company should be looked at before investing. Only if you have the ability or resources to analyse company financials is it worthwhile to invest in company deposits.
Returns on fixed deposits are falling! Here are other investment options
There are two prominent risk attached to NCDs. One is repayment of principal and interest and second is liquidity in the secondary market. I will suggest only AAA-rated securities with strong management such as TATA Capital, M&M Finance, L&T Finance, Bajaj Finance, HDFC and LIC housing Finance. Investors should also be aware of risks associated with NCDs.
Are debt mutual funds losing credibility?
There is a trust deficit among investors. Investors are not investing any fresh funds into debt funds, as some NBFCs and mortgage firms have defaulted on their principal/ interest repayment. After the IL&FS episode, rating agencies have become very alert in assigning ratings.
Retail investor shadow over DHFL resolution
Retail investors are now holding patient as institutional lenders are busy finalising the resolution details. They are now following the basics. Just make their presence felt in the large scheme of things. All such retail bonds are secured as the borrower paid interest/repayments regularly until a few months ago. We do hope retail investors’ interest will be taken duly care by all concerned parties.
Taxed, ultra HNIs turn to tax-free bonds
These bonds currently yield 5.5- 5.9 per cent, compared with 6.1-6.5 per cent a month ago. What makes these attractive to the ultra high-net-worth individuals is that the returns are tax free — that is an enticement for those who are taxed at as high as 42.74 per cent as per the new tax proposals. If the tax benefit is accounted for, the “return for the highest tax-bracket investor will be more than 10 per cent, making for an attractive investment opportunity.
Will gilt funds’ ongoing rally continue? unlikely, say analysts
The regulatory push from Sebi which mandated liquid funds to hold 20% of their assets in safe treasury bills and government bonds is also driving this buying.
Aditya Birla debt mutual funds to gain as IL&FS arm to pay back creditors
It is a positive development. Since October 2018, all the financial and operational creditors are waiting for some concrete resolution plan. And now they see some ray of hope from NCLAT (National Company Law Appellate Tribunal) and from the new management. Potential buyers are showing interest in acquiring productive assets of IL&FS subsidiaries. The mutual funds will get their outstanding dues if they have invested in those specific subsidiaries or SPVs (special purpose vehicles).
Higher yields keep demand strong for perpetual bonds
Investors should prefer nationalised bank perpetual bonds backed by the government. Despite the NPA problems these banks have honoured their commitment in the past. About six state-owned banks, including IDBI Bank, Bank of Maharashtra, Dena Bank, Uco Bank, Corporation Bank and United Bank of India, have bought back ?13,000 crore-14,000 crore worth of perpetual bonds and repaid investors in full.
REC bond yields higher than HDFC’s
The merger between REC and PFC has apparently triggered concerns among a section of investors who believe a rating downgrade is likely. Investor risk perception has changed in the past eight months.
Debt mutual funds losing ground as NBFC stress hits segment
If the matter (of liquidity constraints) is not resolved on an urgent basis, it can lead to trust deficit and will take a very long time to rebuild lost confidence. “Over the past two decades, debt funds were considered a good alternative to fixed deposits of banks/post offices/NBFCs and corporates.
L&T Finance, SCUF, Muthoot Homefin, Magma Fincorp NCDs to open soon; know about them
L&T Finance is a well-managed company with one of the least NPAs in the category. The AAA rating given by the rating agency further enhances confidence, making its NCD a good investment at this juncture.
NBFCs look for retail money as MFs, banks keep a tight rein on funds
Appetite for lower-rated papers would be muted. There is a trust deficit among investors. Branded names with top credit rating grade can only be in a position have investor faith. Investors should be mindful of exit routes instead of being lured by interest rates.
NBFC debentures plummet: Here are a few lessons for investors
Retail investors should invest in the top notch names such as HDFC, LIC Housing Finance or the bonds issued by central government undertakings since there is a little credit risk.
Are days of high credit fund returns over?
High networth individuals normally show interest in credit funds, but this is missing now. Overloading of NBFC papers may have dented returns as the market battled a perceived crisis over the ability of those companies to repay.
Current NCD offers attractive: Experts
Given that the 10-year benchmark is trading at 7.3 per cent, investors get 200 basis points (2 percentage points) on an AAA-rated paper of Mahindra Financial, and about 240 basis points higher in Shriram Transport, which is a good opportunity for investors.
MFs stare at M2M losses after Icra cuts Yes bank rating
As per regulatory guidelines, interest on the perpetual bonds will be paid out of net profit for the current year. Banks can use revenue reserves to pay interest, in case there is a shortfall, subject to RBI guidelines.
What triggered higher rates in NBFC deposits?
Post IL&FS rating downgrade, all NBFCs are resorting to all avenues to raise funds. Corporate deposits are one of them, as companies are trying to offer additional higher rates than bank fixed deposits.
Credit crisis hits NCDs of NBFCs, yields jump as much as 400 bps
Despite yields shooting up, the demand for these NCDs has shrunk.
Safety is a priority for investors in this environment. They will opt for only companies where there is comfort.
Investors in debt mutual funds may do well to keep horizon short
As current account deficit widens due to higher oil prices, interest rates are expected to move further up. The 10-year benchmark could trade between 8.20 and 8.35% in the next three months.
Fixed maturity plan or short-term bond fund — what should fixed income investor choose?
Short-term bond yields are attractive and most of these bonds charge low expense ratios. As they are open-ended schemes, you can sell out if need be. That makes short-term bond funds a lucrative investment option.
Raining retail bonds: Should you invest?
Last two years, none of the debt mutual fund schemes have performed up to the mark. Investors have switched to retail bonds as they seek to earn higher interest income regularly.
Rising corporate deposit rates likely to move further up
More non-banking finance companies are likely to come with higher rates as they jostle to tap the retail money.This will also help those companies to expand retail reach, a key business driver for them.
Shriram Transport targets Rs 5000 crore via bonds
Retail bonds are coming back to the market with investors showing encouraging response to quality papers. Shriram sounds a credible name among retail investors who have already tasted its corporate fixed deposits with no default record.
Rates rising, investors dump income funds for FDs, bonds
Performance is dismal for income funds in the past one year. The value erosion is higher as these funds invest heavily in long maturity papers, which bled in past months.
Should investors look at retail bond issuances now?
As interest rates are expected to rise, it makes sense for investors in the lower tax slabs to invest in fixed deposits maturing in one year. Investors will also get an opportunity to roll over their fixed deposits at a higher rate
How to earn higher rates from deposits
Competitive interest rate increases by banks and non-banking finance companies across the spectrum has seen rate of return peak to its highest in about two-three years putting the smile back on savers.
Perpetual bond withdrawal hits some investors
The recall of perpetual bonds by financially crippled banks may have been a blessing for investors who would have had to bear losses if the banks had stopped paying interest.
Who are helping states to borrow money?
While the rates offered are much higher than traditional bank deposits, the revised 7.75% norm too has helped add a new set of investors for these sovereign-like instruments with little risk of defaults
Tax-free bonds turn attractive again
Tax-free bonds offering a return of 6.5 per cent are finding favour among rich investors. Stable taxfree returns and lower volatility compared to debt mutual funds are driving investors back to these bonds, traded only in the secondary markets.
Rising bond yields bring FMPs back in the game
Wealth managers believe that rise in bond yields over the last one month leading to better post tax returns, and profit booking in equities are driving investors to FMPs.
Should You Invest In 8% Government Savings Bonds Amid Falling Bank FD Rates?
Some financial planners suggest investment in Government of India’s 8% Savings (Taxable) Bonds, which offer an interest rate of 8 per cent per annum.
Tax-free bonds rally like midcap funds
Investments in tax-free bonds in the past year would have fetched you as much returns as mid and small-cap equity schemes -the best performing mutual fund category. The bonds have returned 25-27% on an annualised basis led by a sharp rally in the bond market of late.
Tax-free bonds and select debt mutual funds see big demand; banks lose Rs 40,000 cr net in a fortnight
Falling rates appear to be prompting a shift from traditional bank term deposits to alternative investment avenues including taxfree bonds and select mutual fund debt schemes.
Investors set to make a killing from DHFL’s NCD issue
Savvy investors are set to make a killing from DHFL’s recently-concluded non-convertible debenture (NCDs) issue. They could make an annualised return of almost 50% if the NCDs are sold on listing around mid-August.
Don`t wait for new tax free bonds! Go for listed bonds now
Though finance minister has announced issuance of tax free bonds in FY 15-16, it makes sense to buy bonds from secondary market. Listed bonds are expected to offer double digit returns which should make them better investment opportunity.
Why you should prefer NCD over company fixed deposit?
Non-convertible debentures are held in demat form and hence offer many advantages over the traditional fixed deposits.
Buy preference shares in secondary market to lock in rates
Preference shares can be source of regular income for fixed income investors in a falling interest rate environment