Izabelo ze-Ibex 35 kunye ne-Ibex 35 Inverso zezona ndawo zingaziwayo zesitokhwe apho abatyali mali abancinci nabaphakathi banokutyala imali yabo. Inye nganye eneempawu zayo, kodwa nangayiphi na indlela inokuba yi enye indlela kwiimarike zezabelo. Kungenxa yokuba bacinga ngeendlela ezimbini ezahlukeneyo zokuqonda utyalomali kwaye ezinokuba luncedo kakhulu kubomi babatyali mali.
Olu hlobo lwee-indices kwii-equities lunokuqwalaselwa njengomthombo omtsha wokuvelisa imbuyekezo evela kwisicwangciso esahlukileyo kwifayile ye indlela yokuqonda utyalomali. Akumangalisi ukuba ezi zimbini ze-stock indices ezisandula ukwenziwa kwaye ezinokuthi zingabonakali yinxalenye enkulu yabatyali mali abancinci nabaphakathi. Ngokukodwa leyo imiselwe ukutyala imali umva kuba ivumela ukuxhamla kumhla wokuhla kwezokhuseleko ezikuluhlu lweemarike zezabelo.
Ukusuka kule meko ngokubanzi, kunjalo ukumiliselwa kwezi indices zentengiso emitsha zeenkampani kuyinkuthazo yokufumana izibonelelo kwimarike yaseSpain. Ukuze ngale ndlela, abathengisi bakwimeko yokuba nejelo elitsha lokulandela rhoqo i- ukuvela kwala maxabiso. Apho idinomineyitha efanayo kuzo zonke kukuba zidityanisiwe kwisalathiso esikhethiweyo sengeniso yelizwe lethu, i-Ibex 35. Oko kukuthi, ngamaxabiso emarike yemasheya aphawuleka ngokwenza imali ephezulu.
Isahlulelo seIbex 35: iintlawulo ezisisigxina
Isalathiso sesitokhwe esikhethekileyo sisalathisi esiluncedo kakhulu kubatyali mali esibandakanya ukwahluka kwamaxabiso ezokhuseleko, kunye nenzuzo efunyenwe kukuhambisa izabelo kunye nezinye iintlawulo kubanini zabelo abanikezelayo. Ngokwenyani oku kuthetha ukuba bayaphindaphinda Ixabiso elifanelekileyo le-Ibex 35. Ngokuphathelene noku, kufuneka kugxininiswe ukuba inamacandelo afanayo, ukubala kunye neendlela zokuhlengahlengisa njengaleyo ibhekisa kukhetho lukazwelonke. Kodwa kule meko, kubhekiswa kuphela kwiinkampani ezihambisa izabelo phakathi kwabanini zabelo.
Phakathi kweenkampani ezidwelisiweyo ezenza le ntlawulo ngemali, ezinye zezona zinto zibaluleke kakhulu kwisalathiso se-equity index. Njengakwiimeko ezithile zeMediaset (10%), i-Endesa (7%), iRepsol (6%) okanye i-Iberdrola (5%) kwezinye zezona zibalulekileyo. Ngayiphi na imeko, ezi nkampani zihamba neentlawulo ngengeniso phakathi kwe-3% kunye ne-10%. Ngokuhlawulisa i-akhawunti ezinzileyo kwaye eqinisekisiweyo minyaka le kwaye idityanisiwe kwizahlulo ze-Ibex 35. Njengakwezinye izikwere ezibekwe kwindawo yethu ekufutshane.
Iziphumo kubatyali mali
Ngenxa yezi zenzo kwiimarike zezemali, akukho mathandabuzo okuba kuya kuba lula ukuhlalutya inzuzo enikezelwa ziinkampani ngale ntlawulo. Njengokuvela kwezinto ezinamaxabiso onke ahlangabezana nezi mpawu. Oko kukuthi, imodeli entsha yokujonga ifayile ye- ukuvela kwawo onke amaxabiso esasaza izabelo kodwa kwizalathiso zazo apho zonke ezi nkampani zidweliswe khona. Ukuze ngale ndlela imisebenzi ekufuneka yenziwe ngabatyali zimali abancinci nabaphakathi iyenziwa.
Kwelinye icala, ezinye izithintelo eziveliswa yile nkqubo kwikoteyishini azinakulityalwa nazo. Kwaye yile ibhekisa kwinto yokuba iinkampani ezisasaza izabelo ezingekho kwi-Ibex 35 azidityaniswanga.Apho kukho iqela elilungileyo leenkampani ezibonelela ngeli xabiso longezelelweyo, njenge Atresmedia, OHL okanye Logista. Ewe, aziboniswanga kwisahlulo se-Ibex 35 njengoko kusengqiqweni ukucinga kwelinye icala. Ukuba yenye yezinto ezingalunganga kule index intsha yee equities.
Ibex 35 Inverso: ukubheja okuphantsi
Isalathiso se-Ibex 35 Inverso, ngokwenxalenye yaso, siphinda-phinda intshukumo yemihla ngemihla yesalathiso esikhethiweyo sentengiso yesitokhwe saseSpain, kodwa kwicala elahlukileyo. Oko kukuthi, ukuze abatyali mali bakwazi ukuthatha inxaxheba kumaxabiso awayo agcinwa kwiimarike zezemali. Yi ukhetho olunoburharha ngakumbi Kunangaphambili, kuba umngcipheko uphezulu. Ayothusi into yokuba ngesicwangciso sotyalo-mali unokufumana imali eninzi. Kodwa ngenxa yezizathu ezifanayo, shiya i-euro eninzi endleleni. Ngaphaya kokunye ukuqwalaselwa kobuchwephesha kwaye mhlawumbi nakwindawo yokujonga izinto ezisisiseko.
Kwelinye icala, indlela yokubala yoluhlu lwesitokhwe esitsha ibandakanya into entsha. Apho okufanayo kungangqinelani ncam kuleyo Ibex 35 Izabelo ukusukela oko ilawulwa zezinye iiparameter ezahluke kakhulu kwaye ekungezizo zonke iinkangeleko zabatyali zimali ezinokudityaniswa ngokulula. Ukongeza, sisicelo esilula sokubheja kumaxabiso asezantsi ngaphandle kokujolisa kwezinye iimveliso zemali ezinoburharha. Njengakwimeko ethile yeziqinisekiso, inika ukungazinzi okukhulu okwenza ukuba imisebenzi yayo ibe semngciphekweni omkhulu.
Olunye utyalomali: Ii-Inline Warrants
Yinto entsha yokugqibela ukutyala imali kwezinye iimveliso zemali ezahlukileyo ngokupheleleyo, kodwa ezigcina isigxina esiqhelekileyo kwaye lowo ngumngcipheko wokusebenza kwazo. Yiyo le into eyenzekayo kwimicimbi yee-Inline Warrants ezenziwe liqela laseFrance iSocieté Generalé. Kule meko ithile ine asethi ephantsi kwesalathiso se-Ibex 35. Le mveliso intsha yindlela yokwenza izinto mvume leyo ibandakanya inkqubo enobuchule obuninzi kwaye ngokuqinisekileyo yoqobo. Kulapho, ukuba ngexa lobomi bayo ixabiso leasethi isisiseko lichukumisa okanye lidlula amanqanaba athile amiselwe kwangaphambili, asezantsi okanye aphezulu, nangaliphi na ixesha, ukukhula kuqalwa kwangaphambili.
Ngokumalunga nale mveliso yezemali, kufanele kuqatshelwe ukuba kubatyali mali bexesha elizayo bayathengiswa kwimarike yaseSpain ngokuhambelana nemigaqo yokusebenza kwecandelo lezorhwebo iziqinisekiso, izatifikethi kunye nezinye iimveliso ezineempawu ezifanayo. Ngexesha lokungena kwezi mveliso, ukuphambuka kumaxabiso abo iya kugqiba ukuphazamiseka kothethathethwano ye mvume ngenxa yokuvuthwa kwangethuba kunye nokurhoxa okuqinisekileyo kwintengiso kufutshane neseshoni yorhwebo. Njengoko ubonile, iyimveliso entsonkothileyo ngakumbi kunangaphambili kwaye iya kufuna ukufunda okungakumbi kwicandelo lakho. Ukuthintela iimeko ezingafunekiyo kubatyali mali abancinci nabaphakathi. Yeyiphi ekupheleni kosuku ukuba ingantoni.
Ezinye ii-indices
I-BME iqalile ukusasaza, ngokusebenzisa ababoneleli abaphambili beenkcukacha zentengiso yesitokhwe, ii-indices zokungazinzi kunye nezicwangciso ezinokukhethwa kwi-Ibex 35 eyenzileyo ngo-Okthobha ophelileyo. Ezi zalathiso, eziza kupapashwa ekupheleni kweseshoni nganye, zenza ukuba kube nokwenzeka ukulinganisa ukungazinzi kweemarike kunye nokubonisa ukusebenza kwezicwangciso ezithile zotyalo-mali ngeemveliso ezithengiswa kwi-MEFF, kwimakethi yeemveliso zeBME. Ii-indices ezintsha ezikhutshwe yi-BME zezi:
- El Isalathiso seVibex sisalathiso esingazinzisiyo sentengiso yaseSpain. Imilinganiselo yokuguquguquka okuchaziweyo kukhetho kwisalathiso esikhethiweyo sokulingana kweSpain ukukhula kweentsuku ezingama-30.
- El Ibex 35 Skew Index ebonisa ukuvela kwe-skew esishukumisayo kukhetho lwe-Ibex 35. I-skew yokuguquguquka ichazwa njengomahluko wokungazinzi kwexabiso ngalinye lokuzilolonga.
- El Ibex 35 Isalathiso sokubhala ephindaphinda indawo yokuthenga kwixa elizayo kwesi salathisi sesitokhwe kunye nokuthengiswa rhoqo kokukhethwa kweefowuni, ke ngoko, sisicwangciso esifana nokuthengwa kwebhasikithi eyenziwe kwi-Ibex 35 ngengeniso eyongezelelweyo evela kwintengiso yokhetho.
- El Ibex 35 isalathiso sokubhala ephindaphinda ukuthengiswa rhoqo kweenketho ezibizwa ngokuba yiPut. Isicwangciso esiliqili kunye nenzuzo enqunyelwe kwi-premium efakiweyo kunye nelahleko engenamda.
Ifana kakhulu neziqinisekiso
Ngayiphi na imeko, ziimveliso ezifanayo kakhulu neziqinisekiso kwaye zibonakaliswa yinyani yokuba zizisa umngcipheko omkhulu kunezinye iimveliso zemali. Kungenxa yesi sizathu ngqo ukuba olu didi lweemodeli kutyalo mali ayijoliswanga kuzo zonke iiprofayili zotyalo-mali. Ukuba akunjalo, ngokuchaseneyo, kuhlobo lomthengisi onamava abanzi kolu hlobo lwemisebenzi enzima kwiimarike zezemali. Ukuze ngale ndlela, bakwimeko ezingcono zokwenza inzuzo ngokuhamba kwabo kwiimarike ze-equity. Ngaphandle kwezinye izinto zobugcisa.
Kwelinye icala, kufanele kuqatshelwe ukuba ukhetho lwezi mveliso zintsha zezemali ayisosisombululo sisiso kwinxalenye enkulu yabatyali mali abancinci nabaphakathi. Phakathi kwezinye izizathu zokungabikho kolwazi malunga nobuchwephesha bezi modeli zotyalo-mali. Apho ubulumko bungekho mathandabuzo ukuba kufanele ukuba ibe yeyona nto ibonakalisa isenzo sabo. Eyona njongo iphambili yokugcina imali oyibhalileyo ingaphezulu kwezinye izinto ezisisiseko. Ukuze ngale ndlela, bakwimeko ezingcono zokwenza inzuzo ngokuhamba kwabo kwiimarike ze-equity.