Summary-
On March 25th, the ASX hybrid market showed a mixed performance. Judo Capital’s JDOPA closes at 112.1, rising by 0.31% and reaching the highest running yield of 9.57%. Latitude’s LFSPA also displayed strength, closing at 96.49 with a 9.33% yield, seeing the largest gains of 1.22%. On the downside, CBA’s CBAPG and Westpac’s WBCPH experienced declines of 0.03% and 0.12%, respectively, with yields of 6.76% and 7.30%.
Nufarm’s NFNG hybrid saw a decrease of 0.06%, closing at 94.2 with a running yield of 9.02%, while Ramsay Health Care’s RHCPA hybrid slightly dropped by 0.02%, closing at 108.05 with a yield of 8.75%.
Overall, the hybrid market showed mixed movements, with some hybrids gaining strength while others recorded small declines, reflecting a stable yet cautious investor sentiment amidst broader market conditions.
ASX-Listed Hybrids
| COMPANY | CODE | HYBRID TYPE | MATURITY/ CALL DATE | MARGIN INCL. CREDITS | TRADING MARGIN | DAY CHANGE | DAY CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| CBA | CBAPG | PERLS 10 | 15-Apr-25 | 3.40% | 6.03% | 0.65% | 100 | 7.53% |
| Westpac | WBCPH | Capital Notes 5 | 22-Sep-25 | 3.20% | 6.41% | 0.19% | 100.5 | 7.43% |
| AMP Group | AMPPB | Capital Notes 2 | 16-Dec-25 | 4.50% | 1.99% | -0.32% | 102.05 | 8.46% |
| Macquarie Bank | MBLPC | Capital Notes 2 | 22-Dec-25 | 4.70% | 1.68% | -0.45% | 102.37 | 8.62% |
| Challenger | CGFPC | Capital Notes 3 | 25-May-26 | 4.60% | 2.66% | 0.17% | 102.97 | 8.53% |
| Nat Aust Bank | NABPF | Capital Notes 3 | 17-Jun-26 | 4.00% | 2.02% | -0.09% | 102.61 | 7.93% |
| Suncorp | SUNPH | Capital Notes 3 | 17-Jun-26 | 3.00% | 2.36% | 0.13% | 101.01 | 7.06% |
| Macquarie Group | MQGPD | Capital Notes 4 | 10-Sep-26 | 4.15% | 1.91% | -0.21% | 103.5 | 8.01% |
| CBA | CBAPJ | PERLS 13 | 20-Oct-26 | 2.75% | 1.76% | -0.03% | 101.73 | 6.76% |
| Latitude | LFSPA | Capital Notes | 27-Oct-26 | 4.75% | 8.63% | 1.22% | 96.49 | 9.33% |
| Westpac | WBCPJ | Capital Notes 7 | 22-Mar-27 | 3.40% | 2.96% | 0.04% | 103 | 7.45% |
| CBA | CBAPI | PERLS 12 | 20-Apr-27 | 3.00% | 1.89% | 0.03% | 102.4 | 6.96% |
| Bank of Queensland | BOQPF | Capital Notes 2 | 14-May-27 | 3.80% | 2.53% | 0.21% | 103.5 | 7.72% |
| Bendigo Bank | BENPH | Capital Notes | 15-Jun-27 | 3.80% | 2.13% | -0.06% | 103.68 | 7.65% |
| Macquarie Group | MQGPE | Capital Notes 5 | 20-Sep-27 | 2.90% | 2.14% | 0.07% | 101.99 | 6.89% |
| Nat Aust Bank | NABPH | Capital Notes 5 | 17-Dec-27 | 3.50% | 1.90% | -0.10% | 104.2 | 7.32% |
| ANZ Bank | AN3PI | Capital Notes 6 | 20-Mar-28 | 3.00% | 1.72% | 0.09% | 103.6 | 6.88% |
| CBA | CBAPL | PERLS 15 | 15-Jun-28 | 2.85% | 1.72% | 0.06% | 103.49 | 6.74% |
| Suncorp | SUNPI | Capital Notes 4 | 17-Jun-28 | 2.90% | 2.24% | 0.12% | 102.23 | 6.88% |
| Westpac | WBCPL | Capital Notes 9 | 22-Sep-28 | 3.40% | 2.48% | -0.12% | 104.97 | 7.30% |
| Macquarie Bank | MBLPD | Capital Notes 3 | 7-Dec-28 | 2.90% | 2.13% | 0.04% | 102.95 | 6.84% |
| Bank of Queensland | BOQPG | Capital Notes 3 | 15-Dec-28 | 3.40% | 2.39% | -0.11% | 103.55 | 7.27% |
| Judo Capital | JDOPA | Capital Notes | 16-Feb-29 | 6.50% | 3.04% | 0.31% | 112.1 | 9.57% |
| ANZ Bank | AN3PJ | Capital Notes 7 | 20-Mar-29 | 2.70% | 1.86% | -0.26% | 103.09 | 6.62% |
| Challenger | CGFPD | Capital Notes 4 | 25-May-29 | 3.60% | 2.44% | 0.19% | 104.82 | 7.41% |
| CBA | CBAPK | PERLS 14 | 15-Jun-29 | 2.75% | 2.01% | -0.04% | 102.99 | 6.68% |
| IAG | IAGPE | Capital Notes 2 | 15-Jun-29 | 3.50% | 2.84% | -0.08% | 104.4 | 7.43% |
| Macquarie Group | MQGPF | Capital Notes 6 | 12-Sep-29 | 3.70% | 2.18% | -0.06% | 105.95 | 7.40% |
| Nat Aust Bank | NABPI | Capital Notes 6 | 17-Sep-29 | 3.15% | 1.88% | -0.14% | 105 | 6.93% |
| Westpac | WBCPK | Capital Notes 8 | 21-Sep-29 | 2.90% | 2.51% | -0.02% | 103.66 | 6.90% |
| ANZ Bank | AN3PK | Capital Notes 8 | 20-Mar-30 | 2.75% | 1.98% | -0.05% | 103.4 | 6.65% |
| CBA | CBAPM | PERLS 16 | 17-Jun-30 | 3.00% | 1.96% | -0.02% | 104.7 | 6.81% |
| Suncorp | SUNPJ | Capital Notes 5 | 17-Jun-30 | 2.80% | 2.22% | -0.02% | 102.85 | 6.74% |
| Nat Aust Bank | NABPJ | Capital Notes 7 | 17-Sep-30 | 2.80% | 2.04% | -0.07% | 103.71 | 6.68% |
| Bendigo Bank | BENPi | Capital Notes 2 | 13-Dec-30 | 3.20% | 2.34% | -0.01% | 104.29 | 7.04% |
| Insurance Australia | IAGPF | Capital Notes 3 | 15-Dec-30 | 3.20% | 2.75% | -0.06% | 104.02 | 7.15% |
| ANZ Bank | AN3PL | Capital Notes 9 | 20-Mar-31 | 2.90% | 2.05% | -0.04% | 104.23 | 6.74% |
| Westpac | WBCPM | Capital Notes 10 | 22-Sep-31 | 3.10% | 2.43% | -0.03% | 105.511 | 6.97% |
| Macquarie Group | MQGPG | Capital Notes 7 | 15-Dec-31 | 2.65% | 2.17% | -0.05% | 102.89 | 6.59% |
| Nat Aust Bank | NABPK | Capital Notes 8 | 17-Mar-32 | 2.60% | 1.95% | 0.05% | 103.8 | 6.48% |
ASX-Listed Hybrids (Non-standard)
| COMPANY | CODE | HYBRID TYPE | MATURITY/ CALL DATE | MARGIN INCL. CREDITS | TRADING MARGIN | DAY CHANGE | DAY CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| Nufarm | NFNG | Step Up | Perpetual | 3.90% | 4.90% | -0.06% | 94.2 | 9.02% |
| Ramsay Health Care | RHCPA | Preference Share | Perpetual | 4.85% | 4.63% | -0.02% | 108.05 | 8.75% |