Summary-
On March 24th, the ASX hybrid market showed a mixed performance. The highest yields were seen in Judo Capital’s JDOPA at 9.57%, Latitude’s LFSPA at 9.23, and Macquarie Bank’s MBLPC at 8.66%. Going into details, Judo Capital’s JDOPA saw the largest gain, rising by 0.32% to close at 112.05, with the highest running yield of 9.57%. Latitude’s LFSPA also displayed strength, closing at 97.5 with a 9.23% yield, despite a modest increase of 0.44%. On the downside, CBA’s CBAPG and Westpac’s WBCPH experienced gains of 1.68% and 0.19%, respectively, with yields of 7.54% and 7.43%. Meanwhile, Macquarie Bank’s MBLPC and AMP Group’s AMPPB saw gains of 0.24% and declines of 0.25%, maintaining relatively higher yields of 8.66% and 8.47%, respectively.
Nufarm’s NFNG hybrid saw a slight decrease of, closing at 94.5 with a running yield of 8.99%, while Ramsay Health Care’s RHCPA hybrid dropped by 0.02%, closing at 107.99 with a yield of 8.76%.
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% | 7.06% | 1.68% | 99.94 | 7.54% |
| 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% | 2.06% | -0.25% | 102 | 8.47% |
| Macquarie Bank | MBLPC | Capital Notes 2 | 22-Dec-25 | 4.70% | 2.36% | 0.24% | 101.87 | 8.66% |
| Challenger | CGFPC | Capital Notes 3 | 25-May-26 | 4.60% | 2.36% | -0.14% | 103.31 | 8.50% |
| Nat Aust Bank | NABPF | Capital Notes 3 | 17-Jun-26 | 4.00% | 2.03% | -0.08% | 102.6 | 7.93% |
| Suncorp | SUNPH | Capital Notes 3 | 17-Jun-26 | 3.00% | 2.06% | -0.17% | 101.36 | 7.04% |
| Macquarie Group | MQGPD | Capital Notes 4 | 10-Sep-26 | 4.15% | 2.13% | 0.01% | 103.2 | 8.04% |
| CBA | CBAPJ | PERLS 13 | 20-Oct-26 | 2.75% | 1.76% | -0.02% | 101.721 | 6.76% |
| Latitude | LFSPA | Capital Notes | 27-Oct-26 | 4.75% | 7.84% | 0.44% | 97.5 | 9.23% |
| Westpac | WBCPJ | Capital Notes 7 | 22-Mar-27 | 3.40% | 2.84% | -0.09% | 103.22 | 7.43% |
| CBA | CBAPI | PERLS 12 | 20-Apr-27 | 3.00% | 1.85% | -0.02% | 102.48 | 6.96% |
| Bank of Queensland | BOQPF | Capital Notes 2 | 14-May-27 | 3.80% | 2.50% | 0.19% | 103.55 | 7.71% |
| Bendigo Bank | BENPH | Capital Notes | 15-Jun-27 | 3.80% | 2.23% | 0.03% | 103.5 | 7.66% |
| Macquarie Group | MQGPE | Capital Notes 5 | 20-Sep-27 | 2.90% | 2.10% | 0.03% | 102.08 | 6.88% |
| Nat Aust Bank | NABPH | Capital Notes 5 | 17-Dec-27 | 3.50% | 2.02% | 0.02% | 103.9 | 7.35% |
| ANZ Bank | AN3PI | Capital Notes 6 | 20-Mar-28 | 3.00% | 1.88% | 0.25% | 103.18 | 6.91% |
| CBA | CBAPL | PERLS 15 | 15-Jun-28 | 2.85% | 1.62% | -0.05% | 103.77 | 6.73% |
| Suncorp | SUNPI | Capital Notes 4 | 17-Jun-28 | 2.90% | 2.27% | 0.15% | 102.14 | 6.88% |
| Westpac | WBCPL | Capital Notes 9 | 22-Sep-28 | 3.40% | 2.54% | -0.06% | 104.8 | 7.32% |
| Macquarie Bank | MBLPD | Capital Notes 3 | 07-Dec-28 | 2.90% | 2.10% | 0.01% | 103.03 | 6.83% |
| Bank of Queensland | BOQPG | Capital Notes 3 | 15-Dec-28 | 3.40% | 2.59% | 0.09% | 102.95 | 7.32% |
| Judo Capital | JDOPA | Capital Notes | 16-Feb-29 | 6.50% | 3.05% | 0.32% | 112.05 | 9.57% |
| ANZ Bank | AN3PJ | Capital Notes 7 | 20-Mar-29 | 2.70% | 2.00% | -0.13% | 102.65 | 6.65% |
| Challenger | CGFPD | Capital Notes 4 | 25-May-29 | 3.60% | 2.46% | 0.22% | 104.74 | 7.41% |
| CBA | CBAPK | PERLS 14 | 15-Jun-29 | 2.75% | 2.00% | -0.04% | 103 | 6.68% |
| IAG | IAGPE | Capital Notes 2 | 15-Jun-29 | 3.50% | 2.76% | -0.15% | 104.65 | 7.41% |
| Macquarie Group | MQGPF | Capital Notes 6 | 12-Sep-29 | 3.70% | 2.21% | -0.02% | 105.83 | 7.41% |
| Nat Aust Bank | NABPI | Capital Notes 6 | 17-Sep-29 | 3.15% | 1.92% | -0.10% | 104.86 | 6.94% |
| Westpac | WBCPK | Capital Notes 8 | 21-Sep-29 | 2.90% | 2.51% | -0.01% | 103.64 | 6.90% |
| ANZ Bank | AN3PK | Capital Notes 8 | 20-Mar-30 | 2.75% | 1.91% | -0.12% | 103.679 | 6.63% |
| CBA | CBAPM | PERLS 16 | 17-Jun-30 | 3.00% | 1.98% | 0.01% | 104.6 | 6.82% |
| Suncorp | SUNPJ | Capital Notes 5 | 17-Jun-30 | 2.80% | 2.18% | -0.06% | 103 | 6.73% |
| Nat Aust Bank | NABPJ | Capital Notes 7 | 17-Sep-30 | 2.80% | 1.88% | -0.23% | 104.34 | 6.64% |
| Bendigo Bank | BENPi | Capital Notes 2 | 13-Dec-30 | 3.20% | 2.37% | 0.02% | 104.17 | 7.04% |
| Insurance Australia | IAGPF | Capital Notes 3 | 15-Dec-30 | 3.20% | 2.62% | -0.19% | 104.56 | 7.11% |
| ANZ Bank | AN3PL | Capital Notes 9 | 20-Mar-31 | 2.90% | 1.96% | -0.14% | 104.66 | 6.71% |
| Westpac | WBCPM | Capital Notes 10 | 22-Sep-31 | 3.10% | 2.41% | -0.05% | 105.6 | 6.96% |
| Macquarie Group | MQGPG | Capital Notes 7 | 15-Dec-31 | 2.65% | 2.21% | -0.01% | 102.7 | 6.60% |
| Nat Aust Bank | NABPK | Capital Notes 8 | 17-Mar-32 | 2.60% | 1.87% | -0.03% | 104.2 | 6.46% |
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% | 4.87% | -0.09% | 94.5 | 8.99% |
| Ramsay Health Care | RHCPA | Preference Share | Perpetual | 4.85% | 4.64% | -0.02% | 107.99 | 8.76% |