1. Uhlolojikelele Lokutshalwa Kwezimali Kumabhondi
Ukutshala imali ku izibopho Sekuyisikhathi eside ethembekile isu kulabo abafuna ukulinganisa iphothifoliyo yabo kanye nokuqinisekisa izinga lokuzinza. Emakhulwini eminyaka, ohulumeni, izinhlangano, nezinye izinhlangano ziye zasebenzisa amabhondi njengendlela yokukhulisa imali, kuyilapho abatshalizimali bezuza emalini engenayo ebikezelwayo amabhondi angawanikeza. Ukuqonda amabhondi kanye neqhaza lawo kuphothifoliyo yokutshalwa kwezimali kuyisihluthulelo sokwenza izinqumo zezezimali unolwazi.
Amabhondi amelela imali ebolekiwe eyenziwa umtshali-zimali kobolekayo, okuvame ukuba uhulumeni noma inhlangano. Umboleki uthembisa ukubuyisela imali ebolekiwe nenzalo esikhathini esimisiwe. Amabhondi ngokuvamile athathwa njengephephile kune Amasheya futhi inikeze indlela engenayo ebikezelwayo, ikakhulukazi kubatshalizimali ababambelele ekuvuthweni. Nokho, izibopho ziza nesethi yazo yezinzuzo nezingozi, okubalulekile ukuzihlola.
Lesi sigaba sethula umqondo wamabhondi, sichaza ukuthi kungani ekhanga kubatshalizimali, futhi sidingida isikhangiso esingaba khona.vantages kanye nezingozi ezihlobene nokutshalwa kwebhondi.
1.1. Ayini amabhondi?
Amabhondi yizibambiso zesikweletu ezimele imali ebolekiwe eyenziwa umtshali-zimali kumaboleki, ngokuvamile uhulumeni, inkampani, noma umasipala. Umboleki uyavuma ukukhokhela umtshali-zimali inani elithile lenzalo (elibizwa ngokuthi ikhuphoni) ngezikhathi ezithile futhi abuyisele inani eliyinhloko lemali mboleko ngosuku lokuvuthwa kwebhondi. Lolu hlelo lokubuyisela oluhlelekile lwenza amabhondi abe isibambiso semali engenayo engaguquki, okusho ukuthi abatshalizimali bangathembela ekubuyiselweni okuthile uma bebambe ibhondi kuze kube sekuvuthweni.
Ibhondi ngayinye ikhishwa nesethi yemigomo echaza inani lenzalo, usuku lokuvuthwa, kanye nesamba senani lemalimboleko. Amabhondi avame ukubonwa njengotshalomali oluphephile kunezitokwe ngenxa yokuthi ahlinzeka ngembuyiselo ezinzile futhi ebikezelwa, nakuba imigomo ethile ingahluka kakhulu kuye ngokuthi okhiphayo kanye nohlobo lwebhondi.
1.2. Kungani utshala imali kumabhondi?
Amabhondi adlala indima ebalulekile kumaphothifoliyo amaningi okutshalwa kwezimali ngenxa yokuzinza nokubikezela kwawo. Kulabo abafuna ukulondoloza imali yabo eyinhloko futhi benze imbuyiselo engashintshi, amabhondi anikeza enye indlela eshintshashintsha kancane esitokweni. Imvelo ebikezelwayo yamabhondi iheha ikakhulukazi kubatshalizimali abalondolozayo noma labo abasondela ekuthatheni umhlalaphansi abafuna inzuzo eqhubekayo.
Amabhondi aphinde anikeze ibhalansi ebalulekile ekutshalweni kwezimali okuguquguqukayo okufana namasheya. Lapho izimakethe zamasheya ziba nokuguquguquka, amanani ebhondi ngokuvamile ahlala ezinzile noma akhuphuke. Lokhu kuhlotshaniswa okungekuhle kwenza amabhondi abe ingxenye ebalulekile yephothifoliyo ehlukahlukene. Ukwengeza, amabhondi anganikeza imali engenayo eqinile ngokukhokha inzalo evamile, enikeza ukuthula kwengqondo kubatshalizimali abafuna imbuyiselo ethembekile.
1.3. Izinzuzo zokutshalwa kwebhondi
Ukutshala imali kumabhondi kunikeza izinzuzo ezahlukahlukene, okuwenza abe yinketho edumile kubatshalizimali abafuna ukuzinza nemali engenayo. Esinye sesikhangiso sokuqalavantages ukubikezela abakunikezayo. Amabhondi aletha imali engenayo engashintshi ngendlela yokukhokha inzalo evamile, okuyenza ikhange ikakhulukazi kulabo abahlela ukuthatha umhlalaphansi noma abafuna ukungena nokuphuma kwemali okuzinzile.
Enye inzuzo ebalulekile ukulondolozwa kwezimali. Amabhondi ngokuvamile abhekwa njengaphansi ingozi kunamasheya, futhi lapho ebanjwa kuze kube sekuvuthweni, abatshalizimali ngokuvamile bathola utshalomali lwabo lwangempela ngokugcwele. Lokhu kunganikeza ukuthula kwengqondo ngezikhathi zokungaqiniseki kwezomnotho noma Ukukhishwa kwemakethe.
Ngaphezu kwalokho, amabhondi afaka isandla kuphothifoliyo ukuhlukahluka. Ngenxa yokuthi bavame ukusabela ngendlela ehlukile ezimweni zezomnotho uma kuqhathaniswa namasheya, amabhondi asiza ukushelela phezulu nokuphansi kwemakethe. Lokhu kuhlukahluka kungavikela iphothifoliyo yabatshalizimali ekulahlekelweni okukhulu ngesikhathi sokwehla kwezimakethe. Kwamanye amabhondi, njengamabhondi kamasipala, kungaba nenzuzo eyengeziwe yemali engenayo yenzalo engenayo intela, okuwenza abe izikhangiso ikakhulukazi.vantageous kubatshalizimali kubakaki bentela ephezulu.
1.4. Izingozi zokutshalwa kwebhondi
Nakuba amabhondi evame ukubhekwa njengephephile kunamasheya, awanazo izingozi. Enye yezingozi ezibaluleke kakhulu ingozi yezinga lenzalo. Amanani ebhondi kanye amanani entengo ube nobudlelwano obuphambene; uma izilinganiso zenzalo zikhuphuka, inani lemakethe lamabhondi akhona ngokuvamile liyehla. Lokhu kungaholela ekulahlekelweni uma umtshali-zimali edinga ukuthengisa ibhondi ngaphambi kosuku lokuvuthwa kwayo.
Ingcuphe yesikweletu ingenye into ebalulekile. Lena ingozi yokuthi okhipha ibhondi angase ahluleke ukuhlangabezana nezibopho zakhe zesikweletu, okusho ukuthi bangakwazi ukukhokha inzalo noma ukubuyisela uthishanhloko. Le ngozi ibaluleke kakhulu kumabhondi ezinkampani, njengoba izinkampani zingase zibhekane nobunzima bezezimali obuzivimbela ekuhlangabezaneni nezibopho zazo zebhondi.
Ukwehla kwamandla ingozi ingesinye isici esingathinta abatshalizimali bebhondi. Njengoba amabhondi enikeza izinkokhelo zenzalo engaguquki, ukwenyuka kwamandla emali kungase kucekele phansi inani langempela lalezi zinkokhelo, kwehle amandla okuthenga emali engenayo etholakala kubhondi.
zezimali ubungozi bubhekisela ebunzimeni obungaba khona ekuthengiseni ibhondi ngaphambi kokuvuthwa ngentengo yemakethe efanelekile. Uma ibhondi ingekho emthethweni, umtshali-zimali angase abe nenkinga yokuthola umthengi noma angaphoqeleka ukuthi athengise ibhondi ngentengo ephansi kunalokho obekulindelwe.
| kwesigaba | Amaphuzu ayisihluthulelo |
|---|---|
| Ayini amabhondi? | Amabhondi angamathuluzi esikweletu lapho abatshalizimali beboleka khona imali kuboleki ukuze bathole izinkokhelo zenzalo ngezikhathi ezithile kanye nokubuyiselwa kukathishanhloko ekuvuthweni. |
| Kungani utshala imali kumabhondi? | Amabhondi ahlinzeka ngokuzinza, ukulondolozwa kwezimali, kanye nokugeleza kwemali okuzinzile, okukhanga ikakhulukazi kubatshalizimali abalondolozayo. |
| Izinzuzo zokutshalwa kwebhondi | Amabhondi ahlinzeka ngokuqagela, ukulondolozwa kwemali, ukuhlukahluka kwephothifoliyo, futhi kwezinye izimo, isikhangiso sentelavantages. |
| Izingozi zokutshalwa kwebhondi | Ukutshalwa kwezimali kwebhondi kunezingozi, okuhlanganisa ingcuphe yezinga lenzalo, ingcuphe yekhredithi, ingcuphe yokwehla kwamandla emali, kanye nengozi ye-liquidity. |
2. Ukuqonda Izibopho
Ukuze wenze izinqumo zokutshala izimali unolwazi, kubalulekile ukuba nokuqonda okujulile kwamabhondi nokuthi asebenza kanjani. Amabhondi angase abonakale eqondile, kodwa eza ngezindlela ezihlukahlukene, ngayinye inezici ezihlukile. Ukwengeza, imigomo yebhondi kanye nesivuno kungaba nomthelela omkhulu ezimbuyiseni zomtshali-zimali. Kulesi sigaba, sizohlola izinhlobo ezahlukene zamabhondi, kanye namagama abalulekile ahlobene namabhondi okufanele wonke umtshali-zimali awazi.
2.1. Izinhlobo zamabhondi
Amabhondi eza ngezinhlobo eziningi, ngalinye linezinjongo ezihlukene futhi linikeza amazinga ahlukahlukene engcuphe nembuyiselo. Izinhlobo eziyinhloko zamabhondi zihlanganisa amabhondi kahulumeni, amabhondi ezinkampani, namabhondi kamasipala. Lezi zigaba zivumela abatshalizimali ukuthi bakhethe amabhondi ngokusekelwe ekufanelekeleni isikweletu kokhiphayo, injongo yebhondi, kanye nokubekezelela kwabo ubungozi.
2.1.1. Amabhondi kaHulumeni
Amabhondi kahulumeni akhishwa ohulumeni bakazwelonke njengendlela yokuxhasa ngezimali ukusetshenziswa komphakathi. Lawa mabhondi ngokuvamile abonwa njengendlela ephephe kakhulu yokutshalwa kwebhondi ngoba asekelwa ikhredithi kahulumeni okhiphayo. Esimeni sase-US, isibonelo, amabhondi kaMgcinimafa ayindlela edumile yebhondi kahulumeni enikeza ukusakaza okuthembekile nokubikezelwa kwemali engenayo.
Amabhondi kahulumeni ngokuvamile ahlukaniswa ngokusekelwe ngezinsuku zawo zokuvuthwa. Izikweletu zikaMgcinimafa, isibonelo, zingamabhondi kahulumeni wesikhashana anokuvuthwa okungaphansi konyaka. Amanothi kaMgcinimafa amabhondi esikhathi esimaphakathi avuthwa phakathi kweminyaka emibili neyishumi, kuyilapho amabhondi kaMgcinimafa ayitshalomali yesikhathi eside nokuvuthwa okungaphezu kweminyaka eyishumi.
Isikhalo esikhulu samabhondi kahulumeni ukuphepha kwawo; nokho, ukubuyisela kuvame ukuba ngaphansi uma kuqhathaniswa nezinye izinhlobo zamabhondi ngenxa yobungozi obuphansi obuhambisana nazo.
2.1.2. Amabhondi Ezinkampani
Amabhondi ezinkampani akhishwa izinkampani ukukhulisa imali yokusebenza kwebhizinisi, ukunwetshwa, noma ukuxhasa amaphrojekthi amasha. Ngokungafani namabhondi kahulumeni, amabhondi ezinkampani athwala ingozi enkulu njengoba ukufaneleka kwebhizinisi kungahluka ngokuya ngempilo yayo yezezimali nezimo zemakethe. Ngenxa yalokho, amabhondi ezinkampani ngokuvamile anikeza amanani enzalo aphezulu kunamabhondi kahulumeni ukuze anxephezele le ngozi eyandayo.
Amabhondi ezinkampani angaba yizinga lokutshalwa kwezimali noma isivuno esikhulu (esaziwa nangokuthi “amabhondi angenamsebenzi”). Amabhondi ebanga lokutshala izimali akhishwa izinkampani ezinezilinganiso eziqinile zezikweletu futhi abhekwa njengaphephile uma kuqhathaniswa. Amabhondi anesivuno esikhulu, ngakolunye uhlangothi, akhishwa izinkampani ezinezilinganiso eziphansi zezikweletu, futhi zinikeza imbuyiselo ephezulu ukuze kunxeshezelwe ingozi enkulu yokuzenzakalelayo.
Ukutshala imali kumabhondi ezinkampani kudinga ucwaningo olunzulu ekuzinzeni kwezezimali kwenkampani ekhiphayo, kodwa kungaba inketho ekhangayo kubatshalizimali abafuna imbuyiselo ephakeme kunaleyo enikezwa amabhondi kahulumeni.
2.1.3. Amabhondi kamasipala
Amabhondi kamasipala, noma “ama-munis,” akhishwa uhulumeni, wendawo, noma ezinye izinhlangano zikahulumeni ukuze kuxhaswe amaphrojekthi omphakathi afana nengqalasizinda, izikole, nezibhedlela. Enye yezinzuzo ezibalulekile zamabhondi kamasipala ukuthi inzalo etholiwe ivamise ukukhululwa enteleni yemali engenayo yenhlangano, futhi kwezinye izimo, ezinteleni zombuso nezendawo. Lesi sikhangiso sentelavantage kubenza bathandeke ikakhulukazi kubakaki bentela ephezulu.
Njengamanye amabhondi, amabhondi kamasipala anezinga elithile lobungozi, ikakhulukazi ingcuphe yekhredithi. Kodwa-ke, amabhondi kamasipala amaningi athathwa njengokutshalwa kwezimali okuphephile, ikakhulukazi uma ekhishwa omasipala abazinzile ngokwezimali.
Amabhondi kamasipala angahlukaniswa abe izinhlobo ezimbili eziyinhloko: amabhondi esibopho avamile namabhondi emali engenayo. Amabhondi esibopho esivamile asekelwa ukholo olugcwele nekhredithi yebhizinisi elikhiphayo, okusho ukuthi akhokhelwa ngezintela noma ezinye izimali ezingenayo ezijwayelekile. Ngakolunye uhlangothi, amabhondi emali engenayo abuyiselwa emalini etholwa amaphrojekthi athile abawaxhasa ngezimali, njengemigwaqo ekhokhelwayo noma izinsiza zomphakathi.
2.2. Imigomo Yebhondi kanye Nezivuno
Ukuqonda imigomo eyinhloko ehlotshaniswa namabhondi kubalulekile ekuhloleni imbuyiselo yawo engaba khona kanye nezingozi ezihlobene. Imigomo yebhondi efana nedethi yokuvuthwa, izinga lekhuphoni, isivuno ukuya ekuvuthweni, nezilinganiso zebhondi zidlala indima ebalulekile ekunqumeni ukukhanga kukonke kokutshalwa kwebhondi.
2.2.1. Usuku Lokukhula
Idethi yokuvuthwa kwebhondi idethi eqondile lapho inhloko yebhondi, noma inani lobuso, ibuyiselwa khona kumtshalizimali. Amabhondi angaba nokuvuthwa kwesikhathi esifushane, esimaphakathi, noma isikhathi eside, namabhondi esikhathi esifushane ngokuvamile avuthwa esikhathini esingaphansi kweminyaka emithathu, kanye namabhondi esikhathi eside avuthwa eminyakeni engaphezu kweshumi.
Ubude bokuvuthwa kwebhondi buthinta ubungozi kanye nembuyiselo. Amabhondi esikhathi eside athambekele ekunikezeni amanani enzalo aphezulu ukuze anxephezele ingozi eyengeziwe yokwehla kwamandla emali noma izinguquko kumazinga enzalo ngokuhamba kwesikhathi.
2.2.2. Izinga lekhuphoni
Izinga lekhuphoni izinga lenzalo lowo okhipha ibhondi avuma ukulikhokhela umnikazi webhondi, elivezwa njengephesenti yenani lobuso bebhondi. Inkokhelo yekhuphoni ngokuvamile yenziwa minyaka yonke noma kabili ngonyaka, ihlinzeka umnikazi webhondi imali engenayo evamile. Izinga lekhuphoni lihlala liqinile kuyo yonke impilo yebhondi, yingakho amabhondi evame ukubizwa ngokuthi izibambiso "zemali engenayo egxilile".
Izinga eliphakeme lekhuphoni ngokuvamile lenza ibhondi ikhange nakakhulu, ikakhulukazi ngezikhathi zamazinga enzalo aphansi akhona. Nokho, izinga lekhuphoni kufanele liqhathaniswe nenzuzo yamanje yebhondi ukuze kuhlolwe inzuzo iyonke yebhondi.
2.2.3. Ziholele Ekuvuthweni
I-Yield to maturity (YTM) isilinganiso esibonisa inani lembuyiselo umtshali-zimali angalindela ukuyizuza uma ebambe ibhondi ize ikhule. I-YTM icabangela inani lamanje lebhondi, izinkokhelo zenzalo ezikhiqizayo, nesikhathi esisele kuze kube ukuvuthwa. Le methrikhi ivumela abatshalizimali ukuthi baqhathanise ukukhanga kwamabhondi ahlukene, ngisho noma enamazinga ahlukene ekhuphoni noma enawo ukuhweba ngeprimiyamu noma isaphulelo senani lobuso bazo.
Ukuvuthwa ekuvuthweni kuwumqondo obalulekile kubatshalizimali bebhondi ngoba kunikeza isithombe esibanzi sembuyiselo engaba khona yebhondi kunenani lekhuphoni lilodwa.
2.2.4. Izilinganiso zebhondi
Izilinganiso zebhondi ziwukuhlola ukufaneleka kwekhredithi kokhipha ibhondi, okukhishwa ama-ejensi okulinganisa azimele njenge-Moody's, Standard & Poor's, ne-Fitch. Lezi zilinganiso zibalulekile ngoba zibonisa izinga lengozi elihlobene nokutshala imali kubhondi ethile. Amabhondi anezilinganiso eziphakeme (okufana ne-AAA noma i-AA) athathwa njengezimali eziphephile kodwa ngokuvamile anikeza imbuyiselo ephansi. Amabhondi anesilinganiso esiphansi (njenge-BBB noma ngezansi) abhekwa njengengozi kakhulu kodwa angase anikeze isivuno esiphezulu ukuze kunxeshezelwe ingcuphe eyandayo.
Ukuqonda isilinganiso sebhondi kubalulekile kubatshalizimali abafisa ukuhlola ukuthi kungenzeka yini ukwehluleka ukwenza iphutha futhi benze izinqumo ezinolwazi mayelana trade-cisha phakathi kwengozi nokubuya.
| kwesigaba | Amaphuzu ayisihluthulelo |
|---|---|
| Izinhlobo zezinkampani | Amabhondi afaka amabhondi kahulumeni, amabhondi ezinkampani, namabhondi kamasipala, ngalinye linamaphrofayela ahlukene okubuyisela ubungozi. |
| Amabhondi Kahulumeni | Ikhishwe ohulumeni bamazwe, ngokuvamile engcuphe encane enenzuzo ephansi, ngokuvamile ihlukaniswa ngokuvuthwa. |
| AmaBond Corporate | Ikhishwe izinkampani, ezihlinzeka ngembuyiselo ephezulu kodwa enengozi eyengeziwe yesikweletu uma kuqhathaniswa namabhondi kahulumeni. |
| Amabhondi kaMasipala | Ikhishwe ohulumeni basekhaya kumaphrojekthi omphakathi, ngokuvamile ayikhokhi intela futhi iheha abatshalizimali abahola kakhulu. |
| Imigomo Yebhondi | Imigomo ebalulekile ihlanganisa idethi yokuvuthwa, isilinganiso sekhuphoni, isivuno sokuvuthwa, nezilinganiso zebhondi, ezithinta ukubuyisela. |
| Usuku Lokuvuthwa | Usuku lapho uthishanhloko webhondi ebuyiselwa khona; ukuvuthwa okude kuthwala ingozi eyengeziwe kodwa kunikeza izinzuzo eziphezulu. |
| Izinga lekhuphoni | Izinga lenzalo elikhokhelwa abanikazi bamabhondi, linikeza imali engenayo engashintshi impilo yonke yebhondi. |
| Ziholele Ekuvuthweni | Ibonisa imbuyiselo ephelele uma ibhondi ibanjelwe ekuvuthweni, enikeza isilinganiso esiphelele senzuzo. |
| Izilinganiso zebhondi | Izilinganiso zihlola ubungozi bekhredithi, ngamabhondi anesilinganiso esiphezulu anikeza ukuphepha namabhondi anesilinganiso esiphansi anikeza isivuno esiphezulu. |
3. Ungawathenga Kanjani Amabhondi
Uma umtshali-zimali eqonda izinhlobo ezahlukene zamabhondi kanye nemibandela yawo ehambisanayo, isinyathelo esilandelayo ukunquma ukuthi ungawathenga kanjani amabhondi. Kunezindlela ezahlukene ezitholakalayo, kuye ngokuthi umtshali-zimali ufuna ukuthenga amabhondi amasha ngokuqondile kumkhiphi noma amabhondi okuthenga emakethe yesibili. Ukwengeza, amabhondi angatholwa ngokusebenzisa brokers, okuyindlela evamile kubatshalizimali ngabanye. Kulesi sigaba, sizohlola umehluko phakathi kwezimakethe eziyinhloko nesekondari, kanye nendlela yokuthenga amabhondi ngemigudu ehlukahlukene.
3.1. Imakethe Eyisisekelo vs. Imakethe Yesibili
Imakethe eyinhloko yilapho amabhondi amasha akhishwa khona ngokuqondile ngohulumeni, izinkampani, noma omasipala. Abatshalizimali abathenga amabhondi emakethe eyinhloko empeleni ukubolekisa imali ngqo koyikhiphile ukuze akhokhe inzalo evamile kanye nokubuyiselwa kukathishanhloko lapho ibhondi isivuthwa. Lokhu ukuthengiselana okuqondile phakathi komkhiphi nomtshali-zimali, okuvamise ukwenzeka ngezindali noma ngeminikelo yokuqala yomphakathi (I-IPO).
Esinye sesikhangiso esingukhiyevantageamabhondi okuthenga emakethe eyinhloko ukuthi athengiswa ngenani elibonakalayo, ngaphandle kwe-premium noma isaphulelo. Ukwengeza, abatshalizimali bangakwazi ukuthenga amabhondi asanda kukhishwa ngesiqinisekiso sokuthi bawathola ngenani lenzalo elishiwo kanye nosuku lokuvuthwa ngaphandle kwanoma yimuphi umuntu ophakathi nendawo.
Ngokuphambene, imakethe yesibili yilapho amabhondi athengwa futhi adayiswa khona ngemva kokukhishwa kwawo. Kule makethe, abatshalizimali trade izibopho nabanye abatshalizimali kunokuba nomkhiphi. Amanani emakethe yesibili ayashintshashintsha ngokuya ngokunikezwa kanye kwesidzingo, izinguquko kuzilinganiso zenzalo, kanye nokufaneleka kwekhredithi kokhipha ibhondi. Lokhu kusho ukuthi abatshalizimali bangase bathenge amabhondi ngeprimiyamu (ngaphezulu kwevelu yobuso) noma ngesaphulelo (ngaphansi kwevelu yobuso), kuye ngezimo zemakethe.
Ukuthenga amabhondi emakethe yesibili kunikeza ukuguquguquka, njengoba abatshalizimali bengathola amabhondi angase asondele ekuvuthweni noma anikeze isivuno esihle. Kodwa-ke, iphinde iza nobunkimbinkimbi, njengoba amanani ebhondi ethonywa yizimakethe zamanje.
3.2. Ukuthenga Amabhondi Ngomthengisi
Kubatshalizimali abaningi ngabanye, ukuthenga amabhondi ngokusebenzisa a broker inketho eqondile kakhulu. Ama-broker asebenza njengabalamuli phakathi kwabatshalizimali kanye nemakethe yamabhondi, ahlinzeka ngokufinyelela enhlobonhlobo yamabhondi avela kubakhiphi abahlukahlukene. Abathengi ngokuvamile banokufinyelela kuzo zombili izimakethe zebhondi eyinhloko neyesibili, okuvumela abatshalizimali ukuthi bakhethe phakathi kwamabhondi asanda kukhishwa namabhondi asevele ehweba.
Lapho uthenga amabhondi ngokusebenzisa a broker, umtshali-zimali ngokuvamile ukhokha imali noma ikhomishini yesevisi. Lesi sakhiwo semali siyahlukahluka kuye ngokuthi broker kanye nohlobo lwebhondi ethengwayo. Abatshalizimali kufanele bazi ngezindleko ezihambisana nokusebenzisa a broker, njengoba lokhu kungase kuthinte imbuyiselo iyonke ekutshalweni kwebhondi.
Esinye sesikhangisovantages wokusebenzisa a broker ukufinyelela ocwaningweni kanye nemininingwane yemakethe lokho brokers ngokuvamile ukuhlinzeka. Abaningi brokeramafemu eminyaka yobudala anikezela ngamathuluzi nezinsiza ezisiza abatshalizimali ukuthi bahlole ukufaneleka kwabakhipha amabhondi, baqhathanise izinzuzo, futhi bahlonze amabhondi ahambisana nemigomo yabo yokutshala imali. Lokhu kungaba usizo ikakhulukazi kubatshalizimali abasha emakethe yebhondi futhi abafuna isiqondiso sokwenza izinqumo ezinolwazi.
3.3. Ukuthenga Amabhondi Ngokuqondile Kulowo Okhiphayo
Kwezinye izimo, abatshalizimali bangathenga amabhondi ngokuqondile kumkhiphi ngaphandle kokudlula ku-a broker. Le nketho ivamise ukutholakala kumabhondi kahulumeni, njengamabhondi e-US Treasury, angathengwa ngokuqondile kuMgcinimafa wase-US ngewebhusayithi yabo, i-TreasuryDirect. Ngokufanayo, izinkampani ezithile nomasipala banganikela ngokuthenga kwebhondi kubatshalizimali ngokusebenzisa amapulatifomu abo noma ngezindali.
Ukuthenga amabhondi ngokuqondile kumkhiphi kuqeda isidingo sokukhokha broker amakhomishini, angenza lokhu kube inketho engabizi kakhulu kwabanye abatshalizimali. Ukwengeza, ukuthenga ngokuqondile kumkhiphi kuqinisekisa ukuthi ibhondi ithengwa ngenani elibonakalayo ngaphandle kwesidingo sokuzulazula ezinkingeni zemakethe yesibili.
Kodwa-ke, ukuthenga amabhondi ngokuqondile kumnikezeli kungakhawulela izinhlobonhlobo zamabhondi atholakalayo kumtshali-zimali. Ukuthengwa okuningi okuqondile kukhawulelwe kumabhondi kahulumeni, okusho ukuthi labo abafuna amabhondi ezinkampani noma kamasipala basazodinga ukusebenzisana broker noma finyelela emakethe yesibili.
Sekukonke, ukuthenga amabhondi ngokuqondile kumkhiphi kuyinqubo elula futhi esobala, ikakhulukazi kubatshalizimali abagxile ezibambiso zikahulumeni futhi abakhululekile ngokutshalwa kwezimali kwesikhathi eside.
| kwesigaba | Amaphuzu ayisihluthulelo |
|---|---|
| Imakethe Eyisisekelo vs. Imakethe Yesibili | Amabhondi angathengwa emakethe yokuqala ngokuqondile kumkhiphi noma emakethe yesibili lapho abatshalizimali trade izibopho. |
| Ukuthenga Nge-Broker | Abadayisi bahlinzeka ngokufinyelela ebangeni elibanzi lamabhondi kuzo zombili izimakethe eziyinhloko nesekondari, ngokuvamile bakhokhisa inkokhelo ngamasevisi abo. |
| Ukuthenga Ngokuqondile Kulowo Okhiphayo | Abatshalizimali bangathenga amabhondi ngokuqondile kubakhiphi, njengamabhondi oMgcinimafa wase-US, baqede broker izimali kodwa ngezinketho ezilinganiselwe. |
4. Amasu okutshala imali ngebhondi
Ukutshala imali kumabhondi kungaphezu nje kokuthenga izibambiso nokuzibamba kuze kube sekuvuthweni. Ukutshala imali kwebhondi okuphumelelayo kubandakanya ukusebenzisa izindlela zamasu ukuze kwandiswe imbuyiselo kuyilapho ulawula ubungozi. Kulesi sigaba, sizoxoxa ngokhiye amasu abatshalizimali abawasebenzisayo ukuphatha amaphothifoliyo abo ebhondi, okuhlanganisa ukwenyuswa kwebhondi, ukuhlukahluka, nokuqondanisa ukuvuthwa kwebhondi nemigomo ethile yokutshala imali. Isu ngalinye kulawa lidlala indima ebalulekile ekuthuthukiseni ukusebenza kwephothifoliyo yokutshalwa kwebhondi.
4.1. I-Bond Laddering
Ukwenyuka kwebhondi kuyisu elibandakanya ukuthenga amabhondi anezinsuku zokuvuthwa ezihlukanisiwe. Esikhundleni sokuthenga amabhondi wonke avuthiwe ngesikhathi esisodwa, umtshali-zimali uthenga amabhondi avuthwa ngezikhathi ezihlukene—isikhathi esifushane, esimaphakathi nesikhathi eside. Isikhangiso esiwukhiyevantage ye-bond laddering ukuthi isiza ukuphatha ingcuphe yezinga lenzalo kuyilapho ihlinzeka ngohlelo oluqhubekayo lwemali engenayo njengoba ibhondi ngayinye ikhula.
Uma amabhondi esitebhisini evuthwa, umtshali-zimali angaphinda atshale uthishanhloko kumabhondi amasha, okungenzeka azuze kumazinga enzalo aphezulu uma amanani ekhuphukile. Leli su linikeza ukuguquguquka futhi linciphisa umthelela wokushintshashintsha kwezinga lenzalo kuyo yonke iphothifoliyo. Uma amanani enyuka, umtshali-zimali angathatha isikhangisovantage yesivuno esiphezulu lapho utshala kabusha. Ngokuphambene, uma amanani ehla, ingxenye kuphela yephothifoliyo ivalelwe amanani aphansi, njengoba amanye amabhondi esitebhisini asazuza emazingeni aphezulu akhiyelwe ngaphambili.
Ukwengeza, ukwenyuswa kwebhondi kunikeza i-liquidity ngezikhathi ezithile, okungaba usizo uma umtshali-zimali edinga ukufinyelela ezikhwameni noma efuna ukulungisa isu lakhe lokutshala izimali ngokusekelwe ekushintsheni kwezimo zezimali. Le ndlela inenzuzo ikakhulukazi kubatshalizimali abafuna ibhalansi phakathi kwemali engenayo kanye nokunciphisa ubungozi esikhathini eside.
4.2. Ukwehlukaniswa
I-Diversification isu eliyisisekelo lokutshala izimali elingasebenzi kuphela ezitokisini kodwa namabhondi. Kumongo wokutshalwa kwebhondi, ukuhlukahluka kuhilela ukusabalalisa ukutshalwa kwezimali ezinhlotsheni ezihlukene zamabhondi ukuze kwehliswe ubungozi. Lokhu kungabandakanya ukuhlukahluka ngomkhiphi, ukukhula, nohlobo lwebhondi, njengamabhondi kahulumeni, amabhondi ezinkampani, namabhondi kamasipala.
Ngokuhlukanisa phakathi kwabakhiphile abahlukene, umtshali-zimali wehlisa ingcuphe yokuchayeka ngokweqile kunoma iyiphi ingcuphe yekhredithi yebhizinisi elilodwa. Isibonelo, ukutshala izimali kuwo womabili amabhondi kahulumeni nawezinkampani kungavikela ekuzenzakalelayo okungaba khona kwanoma yimuphi umkhiphi oyedwa. Ngokufanayo, ukuhlukahluka phakathi kokuvuthwa—okuhlanganisa amabhondi esikhathi esifushane nawesikhathi eside—kusiza ukulinganisela engozini. Amabhondi esikhathi esifushane ahlinzeka ngemali eyengeziwe, kuyilapho amabhondi esikhathi eside evame ukunikeza imbuyiselo ephezulu.
Enye indlela yokwehlukahlukana iwukuhlanganisa amabhondi avela emikhakheni eyahlukene noma izifunda zendawo. Lokhu kusiza ukuvikela iphothifoliyo ekuwohlokeni komnotho okuqondene nomkhakha othile noma isifunda esithile, njengoba amabhondi ezindaweni ezihlukene angase angathinteki izici ezifanayo. Iphothifoliyo yebhondi ehlukene kahle ingakwazi ukusheshisa ukuguquguquka kwembuyiselo futhi inikeze indlela engenayo ezinzile.
4.3. Ukufanisa Ukuvuthwa Kwebhondi Nezinjongo Zokutshalwa Kwezimali
Elinye lamasu abaluleke kakhulu ekutshalweni kwebhondi ukuhlanganisa ukuvuthwa kwamabhondi nabatshalizimali. imigomo yezezimali. Lokhu kuqinisekisa ukuthi amabhondi avuthwa ngesikhathi lapho izimali zidingeka, okuvimbela isidingo sokudayisa amabhondi kusenesikhathi futhi ngokunokwenzeka ngokulahlekelwa. Leli su liwusizo ikakhulukazi kubatshalizimali abanezinjongo zezimali ezithile, njengokuxhasa ngezimali zengane imfundo, ukuthenga umuzi, noma ukuhlela umhlalaphansi.
Isibonelo, umtshali-zimali ohlela ukuthatha umhlalaphansi eminyakeni eyi-10 angase athenge amabhondi avuthwa ngosuku lokuthatha umhlalaphansi. Lawa mabhondi azohlinzeka ngemali engenayo eqhubekayo eholela ekuthatheni umhlalaphansi futhi abuyisele uthishanhloko lapho edingeka. Ngokufanayo, umtshali-zimali olondolozela ukuthenga okukhulu, njengendlu, angafanisa izinsuku zokuvuthwa zamabhondi akhe nesikhathi sokuthenga esilindelwe.
Le ndlela yokusebenzela ayisizi nje kuphela ukuhlangabezana nemigomo yezezimali kodwa futhi yehlisa ingcuphe yezinga lenzalo. Ngokubamba amabhondi ekuvuthweni, abatshalizimali bagwema ukulahlekelwa okungaba khona okuhlobene nokuthengisa amabhondi endaweni yezinga lenzalo ekhuphukayo. Ukuqhathanisa ukuvuthwa kwebhondi ne-investimenti ye-investimenti kunikeza indlela ehlelekile nengabikezelwa yokuhlangabezana nezidingo zezezimali kuyilapho kunciphisa ubungozi obuhlobene nesikhathi semakethe.
| kwesigaba | Amaphuzu ayisihluthulelo |
|---|---|
| I-Bond Laddering | Kubandakanya ukuthenga amabhondi anokukhula okumangalisayo, okuhlinzeka ngemali engenayo engaguquki kanye nokuvumelana nezimo ukuze utshale kabusha ngamanani angaba phezulu. |
| diversification | Isabalalisa utshalomali kubakhiqizi abahlukahlukene, abavuthiwe, nezinhlobo zamabhondi, inciphisa ukuchayeka ezingozini ezithile. |
| Ukufanisa Ukuvuthwa Kwebhondi Nezinjongo | Iqondanisa ukuvuthwa kwebhondi nemigomo yezezimali ukuze kuqinisekiswe ukuthi izimali ziyatholakala uma kudingeka futhi kuncishiswe ingcuphe yezinga lenzalo. |
5. Izingozi zebhondi
Nakuba amabhondi ngokuvamile ebhekwa njengezimali eziphephile kunezitoko, azinayo ingozi. Izinhlobo ezahlukene zamabhondi zithwala amazinga ahlukene obungozi, okumele abatshalizimali bakuqonde ukuze benze izinqumo ezinolwazi. Izingozi ezivame kakhulu ezihlobene nokutshalwa kwebhondi zihlanganisa ingcuphe yezinga lenzalo, ingcuphe yekhredithi, ingcuphe yokwehla kwamandla emali, kanye nengozi ye-liquidity. Ngayinye yalezi zici zingathinta inani lamabhondi kanye nembuyiselo ezikhiqizwayo. Kulesi sigaba, sizohlola lezi zingozi ngokuningiliziwe futhi sichaze ukuthi zithinta kanjani ukutshalwa kwebhondi.
5.1. Ingozi Yezinga Lenzalo
Ingcuphe yezinga lenzalo ingenye yezingozi ezibaluleke kakhulu ezihlobene nokutshalwa kwebhondi. Isho ubudlelwano obuphambene phakathi kwezintengo zebhondi nezinga lenzalo. Lapho izilinganiso zenzalo zikhuphuka, intengo yamabhondi akhona ngokuvamile iyehla, futhi lapho amanani enzalo ehla, amanani ebhondi avame ukukhuphuka.
Lokhu kwenzeka ngoba amabhondi amasha akhishwa ngezinga eliphezulu lenzalo lapho amanani enyuka, okwenza amabhondi amadala anamazinga aphansi ekhuphoni angabi mnandi kangako. Ngenxa yalokho, intengo yamabhondi amadala iyehla ukuze ibenze baqhudelane emakethe. Kubatshalizimali abahlela ukubamba amabhondi abo kuze kube sekuvuthweni, ukuguquguquka kwezinga lenzalo kungase kungabeki ukukhathazeka okukhulu, njengoba basazothola inani lobuso bebhondi lapho sebevuthiwe. Nokho, kulabo abadinga ukuthengisa amabhondi ngaphambi kokuvuthwa, ukukhuphuka kwezinga lenzalo kungaholela ekulahlekelweni uma amabhondi ethengiswa ngentengo ephansi.
Ingcuphe yezinga lenzalo ibaluleke kakhulu kumabhondi esikhathi eside, njengoba izintengo zawo zizwela kakhulu ezinguqukweni zezilinganiso zenzalo kunamabhondi esikhathi esifushane. Abatshalizimali abathintekayo ngengozi yezinga lenzalo bangayinciphisa ngokuhlukanisa iphothifoliyo yabo yebhondi ngamabhondi okuvuthwa okuhlukahlukene noma ukusebenzisa amasu afana nokwenyusa ibhondi.
5.2. Ingozi Yesikweletu
Ingcuphe yekhredithi, eyaziwa nangokuthi ingcuphe ezenzakalelayo, ingozi yokuthi okhipha ibhondi angakwazi ukukhokha inzalo edingekayo noma akhokhe uthishanhloko lapho ibhondi ivuthwa. Le ngozi iphezulu kumabhondi ezinkampani namabhondi akhishwa omasipala noma amazwe anezilinganiso eziphansi zezikweletu. Abatshalizimali abakumabhondi akhishwe izinkampani ezintengayo ngokwezezimali noma ohulumeni bangase babhekane nethuba lokulahlekelwa kokubili izinkokhelo zabo zenzalo kanye nokutshalwa kwezimali kwangempela.
Izilinganiso zekhredithi ezinikezwe ama-ejensi afana ne-Moody's, i-Standard & Poor's, ne-Fitch zisiza abatshalizimali ukuthi balinganise ukufaneleka kwabakhipha amabhondi. Amabhondi anezilinganiso zezikweletu eziphezulu, ezifana ne-AAA-rated kahulumeni noma amabhondi ezinkampani, abhekwa njengengcuphe ephansi, kuyilapho amabhondi anezilinganiso eziphansi, njengamabhondi anesivuno esikhulu noma angafuneki, anengozi enkulu yokuzenzakalelayo.
Ukunciphisa ubungozi besikweletu, abatshalizimali bangakhetha amabhondi akhishwe izinkampani ezikala kakhulu noma ohulumeni. Ukwengeza, ukuhlukanisa iphothifoliyo yebhondi ngokutshala imali kumabhondi avela kubakhiphi abahlukene kungasiza ekwehliseni umthelela wokuzenzakalelayo okukodwa.
5.3. Ingozi Yokwehla kwamandla emali
Ingcuphe yokwehla kwamandla emali isho ukuthi kungenzeka ukuthi ukwehla kwamandla emali kuzoqeda amandla okuthenga ezinkokhelo zenzalo kanye nenkokhelo eyinhloko evela kumabhondi. Njengoba amabhondi ngokuvamile enikeza izinkokhelo zenzalo engaguquki, ukukhuphuka kwamandla emali kunciphisa inani langempela lalezo zinkokhelo. Le ngozi ibaluleke kakhulu kumabhondi esikhathi eside, njengoba umthelela wokwehla kwamandla emali ubaluleke kakhulu ngokuhamba kwesikhathi.
Isibonelo, uma ibhondi ikhokha isilinganiso esinqunyiwe sekhuphoni esingu-3% futhi ukwehla kwamandla emali kukhuphukela ku-4%, imbuyiselo yangempela yebhondi iba yimbi, njengoba amandla okuthenga emali engenayo enzalo encipha. Ingcuphe yokwehla kwamandla emali ivamise ukukhathaza ngezikhathi zokukhula komnotho lapho ukwehla kwamandla emali kuvame ukukhuphuka.
Ukulwisana nengcuphe yokwehla kwamandla emali, abatshalizimali bangacabangela ukutshala imali kumabhondi avikelwe ngokwenyuka nokwehla kwamandla emali, njenge-Treasury Inflation-Protected Securities (TIPS), elungisa okuyinhloko ngokusekelwe ezinguqukweni ze-inflation. izinga lokwehla kwamandla emali. Lokhu kuvumela umtshali-zimali ukuthi agcine amandla okuthenga enzuzo yakhe engenayo kanye nenhloko.
5.4. Ingozi ye-Liquidity
Ingcuphe ye-Liquidity isho ubunzima bokuthengisa ibhondi ngokushesha nangenani layo elifanelekile lemakethe. Akuwona wonke amabhondi asebenzayo traded, futhi abanye bangase babe nemakethe elinganiselwe yabathengi, ikakhulukazi ngezikhathi zokucindezeleka kwemakethe. Uma umtshali-zimali edinga ukuthengisa ibhondi ngokushesha, kungase kudingeke amukele inani eliphansi kunevelu yangaphakathi yebhondi, okuholela ekulahlekelweni okungaba khona.
Ingozi ye-Liquidity ngokuvamile iphezulu kumabhondi ezinkampani futhi iphansi kumabhondi kahulumeni, ikakhulukazi i-US Treasury, enoketshezi oluningi futhi engathengiswa kalula emakethe yesibili. Abatshalizimali abafuna ukunciphisa ubungozi be-liquidity kufanele bacabangele iphrofayili ye-liquidity yamabhondi abawathengayo futhi bagxile kumabhondi traded njalo.
| kwesigaba | Amaphuzu ayisihluthulelo |
|---|---|
| Ingozi Yesilinganiso Senzalo | Ingozi yokuthi ukukhuphuka kwamazinga enzalo kuzoholela emananini aphansi ebhondi, ikakhulukazi okuthinta amabhondi esikhathi eside. |
| Ingozi Yesikweletu | Ubungozi bokuthi okhipha ibhondi uzohluleka ukukhokhela izinkokhelo, ikakhulukazi ezifanele kumabhondi anesilinganiso esiphansi. |
| Ingozi Yokwehla kwamandla emali | Ingozi yokuthi ukwehla kwamandla emali kuzonciphisa amandla okuthenga ezinkokhelo zenzalo egxilile, ikakhulukazi kumabhondi esikhathi eside. |
| Ingozi Yoketshezi | Ingozi yokuthi umtshali-zimali angaba nobunzima bokuthengisa ibhondi ngevelu yayo yemakethe efanelekile, ikakhulukazi ngezikhathi zokucindezeleka kwemakethe. |
6. Amathiphu Wokutshala Ibhondi
Ukutshala imali kumabhondi kungaba yindlela enamandla yokukhiqiza imali engenayo engaguquki kanye nobungozi bebhalansi ngaphakathi kwephothifoliyo, kodwa impumelelo idinga ukuhlela nokuphatha ngokucophelela. Njenganoma yikuphi ukutshalwa kwezimali, ukutshalwa kwebhondi kudinga ukukhuthala okufanele, ukuqondanisa okucacile nemigomo yezezimali, nokuqapha okuqhubekayo. Kulesi sigaba, sizoxoxa ngamathiphu athile awusizo ukusiza abatshalizimali bakhulise imbuyiselo yabo kuyilapho benciphisa ubungozi ekutshalweni kwebhondi. Lawa macebiso ahlanganisa ukwenza ucwaningo, ukuqondanisa ukutshalwa kwezimali kwebhondi nezinjongo zezezimali, ukuqapha ngenkuthalo iphothifoliyo yebhondi, kanye nokufuna iseluleko sochwepheshe lapho kudingeka.
6.1. Ucwaningo Nokukhuthala Okufanelekile
Ngaphambi kokutshala imali kunoma iyiphi ibhondi, ukwenza ucwaningo olunzulu kubalulekile. Lokhu kuhlanganisa ukuqonda ukufaneleka kwekhredithi kokhiphayo, imigomo yebhondi, indawo yezinga lenzalo, nanoma yiziphi izingozi ezingaba khona ezihlobene nokutshalwa kwezimali. Abatshalizimali kufanele banake kakhulu izilinganiso zebhondi, ezihlinzeka ngenkomba yempilo yezezimali yomnikezi kanye namathuba okwehluleka ukukhokha imali. Amabhondi anezilinganiso eziphakeme ngokuvamile aphephile kodwa anikeza isivuno esiphansi, kuyilapho amabhondi anesilinganiso esiphansi (njengamabhondi esivuno esikhulu) eza nengcuphe ephezulu kanye nembuyiselo engaba nkulu.
Ngokungeziwe ezilinganisweni zezikweletu, kubalulekile ukuhlola izitatimende zezimali zomnikezi, izimo zemakethe, kanye nezimboni. izitayela. Ngamabhondi ezinkampani, ukuqonda imali engenayo yenkampani, inzuzo, namazinga esikweletu kunganikeza ukuqonda ngekhono layo lokufeza izibopho zayo. Kumabhondi kahulumeni nawomasipala, izici ezifana nezimo zezomnotho, imali engenayo yentela, nokuzinza kwezombusazwe yizinto ezibalulekile ezicatshangelwayo.
Abatshalizimali kufanele futhi baqaphele ukuthambekela kwezomnotho okubanzi, ikakhulukazi ukunyakaza kwezinga lenzalo, njengoba lokhu kungase kube nomthelela omkhulu ezintengo zamabhondi kanye nesivuno. Ukuhlala unolwazi nokwenza ngokucophelela kuqinisekisa ukuthi abatshalizimali benza izinqumo ezinolwazi futhi banciphise ubungozi bokulahlekelwa.
6.2. Cabangela Imigomo Yakho Yokutshala
Lapho ukhetha amabhondi, kubalulekile ukuvumelanisa ukutshalwa kwezimali nemigomo ethile yezezimali. Amabhondi angafeza izinjongo ezihlukene kuphothifoliyo, kusukela ekwenzeni imali engenayo kuye ekulondolozeni imali noma ukuxhasa izindleko zesikhathi esizayo. Ukuhlonza imigomo yakho kuzosiza ukunquma izinhlobo ezifanele zamabhondi ongatshala kuzo, kanye nokuvuthwa kwawo kanye nephrofayili yengcuphe.
Isibonelo, uma umtshali-zimali efuna imali engenayo evamile ngesikhathi sokuthatha umhlalaphansi, angase abeke phambili amabhondi anikeza izinkokhelo zekhuphoni ezingaguquki futhi abe nephrofayela yengcuphe ephansi, efana nohulumeni noma amabhondi ebhizinisi anesilinganiso esiphezulu. Ngakolunye uhlangothi, uma umtshali-zimali enomgomo wesikhathi eside, njengokulondoloza imali yokuthenga enkulu noma izindleko zemfundo, angase akhethe amabhondi anokukhula okude okuhambisana nesikhathi sezidingo zakhe zezimali.
Ukwengeza, abatshalizimali kufanele bacabangele ukubekezelela kwabo ubungozi. Labo abanokubekezelela okuphansi engozini bangase bagxile kumabhondi ebanga lokutshalwa kwezimali noma amabhondi kahulumeni, kuyilapho abatshalizimali abazimisele ukuzifaka engcupheni yokuthola izinzuzo eziphakeme bangase bahlole amabhondi ezinkampani anesivuno esikhulu. Ukuqonda izinjongo zomuntu zezezimali kanye nesifiso sokudla engcupheni kubalulekile ekudaleni iphothifoliyo yebhondi ehambisana nemigomo yomuntu siqu yezezimali.
6.3. Gada Iphothifoliyo Yebhondi Yakho
Isu eliyimpumelelo lokutshala imali ngebhondi lidinga ukuqapha kwephothifoliyo okusebenzayo. Lokhu kusho ukubuyekeza njalo ukusebenza kwamabhondi kuphothifoliyo yakho, kanye nokubheka ukunyakaza kwezinga lenzalo nezimo zomnotho ezingase zithinte amanani ebhondi.
Njengamabhondi aseduze nokuvuthwa, abatshalizimali kufanele bacabangele ukuphinda batshale imali yabo ukuze balondoloze imali engenayo abayifunayo noma isu lokukhula. Lokhu kubaluleke kakhulu kubatshalizimali abasebenzisa amasu afana nokwenyusa ibhondi, okudinga ukutshalwa kabusha kwezikhathi ezithile. Ukuqapha futhi kusiza ukuqinisekisa ukuthi iphothifoliyo yebhondi ihlala ihambisana nemigomo yakho yezezimali kanye nokubekezelela ubungozi njengoba izimo zemakethe zishintsha.
Ukwengeza, izilinganiso zezikweletu zabakhiphi bebhondi zingashintsha ngokuhamba kwesikhathi. Uma isimo sezezimali senkampani siwohloka, amabhondi ayo angase ehliselwe phansi, okungase kuthinte inani lawo kanye nekhono lomhlinzeki lokufeza izibopho zayo. Abatshalizimali kufanele bahlale beqaphile futhi baphinde bahlole amabhondi abo ngezikhathi ezithile ukuze banqume ukuthi ngabe kudingeka yini ukulungiswa kuphothifoliyo.
6.4. Funa Iseluleko Sochwepheshe Uma Udingeka
Nakuba abatshalizimali abaningi bengakwazi ukuphatha ngempumelelo ukutshalwa kwebhondi yabo ngokwabo, kunezikhathi lapho ukufuna iseluleko sochwepheshe kungaba yinzuzo. Abeluleki bezezimali noma ochwepheshe bokutshalwa kwezimali banganikeza imininingwane ebalulekile ekukhetheni amabhondi, ukuhlukahluka kwephothifoliyo, kanye ukulawulwa kwezinhlekelele. Bangaphinde banikeze amasu ahambisana nezinjongo ezithile zomtshali-zimali kanye nokubekezelela ubungozi.
Kubatshalizimali abasha noma abangenalwazi, ukuzulazula ezinkingeni zemakethe yebhondi kungase kube inselele. Ukusebenza nochwepheshe bezezimali kungasiza ukugwema izingibe ezivamile futhi uqinisekise ukuthi iphothifoliyo yebhondi yakho ilungiselelwe kokubili imali engenayo nokukhula.
Abeluleki abangochwepheshe bangasiza futhi ngamasu okutshala imali ebhondi athuthuke kakhulu, njengokuphatha imithelela yentela, ukusebenzisa izimali zebhondi, noma ukufaka amabhondi ohlelweni olubanzi lokutshala imali oluhlanganisa amasheya, ukuthengisa izindlu, noma ezinye izimpahla. Ukuthi ngokwesiqondiso esiyisisekelo noma amasu ayinkimbinkimbi, iseluleko sochwepheshe singaba insiza ebalulekile ekutshalweni kwebhondi.
| kwesigaba | Amaphuzu ayisihluthulelo |
|---|---|
| Ucwaningo Nokukhuthala Okufanelekile | Ucwaningo olunzulu ngabakhiphi bebhondi, izilinganiso zezikweletu, nezimo zemakethe kubalulekile ukuze kuncishiswe ubungozi. |
| Cabangela Imigomo Yakho Yokutshala | Qondanisa ukutshalwa kwebhondi nemigomo yezezimali, njengokukhiqiza imali engenayo, ukulondoloza imali, noma ukuxhasa izindleko zesikhathi esizayo. |
| Gada Iphothifoliyo Yebhondi Yakho | Buyekeza njalo ukusebenza kwebhondi, amathrendi enzalo, nezilinganiso zekhredithi ukuze uqinisekise ukuthi iphothifoliyo ihlala ihambisana nemigomo. |
| Funa Iseluleko Sochwepheshe | Ukubonisana nomeluleki wezezimali kunganikeza amasu ahambisanayo nesiqondiso, ikakhulukazi kubatshalizimali abangenalwazi. |
Isiphetho
Ukutshalwa kwebhondi kungadlala indima ebalulekile ekwakheni iphothifoliyo elinganiselayo nehlukene, enikeza kokubili ukuzinza nemali engenayo. Kubatshalizimali abaningi, amabhondi asebenza njengesisekelo sokulondoloza imali ngenkathi edala imbuyiselo ebikezelwayo ngokukhokha inzalo evamile. Kungakhathaliseki ukuthi umtshali-zimali ufuna ukunciphisa ubungozi, ukukhiqiza imali engenayo eqinile, noma ukuvumelanisa ukutshalwa kwezimali nemigomo yezezimali yesikhathi esizayo, amabhondi anikeza inhlobonhlobo yamathuba okuhlangabezana nalezo zidingo.
Njengoba le bhulogi ibonisile, ukuqonda izinhlobo ezihlukahlukene zamabhondi—njengamabhondi kahulumeni, ezinkampani, kanye nekamasipala—kungasiza abatshalizimali benze izinqumo ezinolwazi ngokusekelwe ekubekezeleleni ubungozi kanye nembuyiselo efiswayo. Amagama angukhiye afana nedethi yokuvuthwa, inani lekhuphoni, kanye nenzuzo ekuvuthweni kubalulekile ekuhlaziyeni amabhondi kanye nokunquma ukufaneleka kwawo emigomeni ethile yezezimali. Ngaphezu kwalokho, ukutshalwa kwebhondi kudinga indlela yamasu, enamaqhinga afana nokwenyusa ibhondi, ukuhlukahluka, nokuqondanisa ukuvuthwa kwebhondi nezinjongo zezezimali zomuntu siqu ezidlala indima ebalulekile ekuthuthukiseni ukusebenza kahle.
Nakuba amabhondi evame ukubonwa njengokutshalwa kwezimali okunengcuphe ephansi uma kuqhathaniswa namasheya, kubalulekile ukuqaphela izingozi ezingaba khona ezihilelekile, njengengcuphe yezinga lenzalo, ingcuphe yekhredithi, ingcuphe yokwehla kwamandla emali, kanye nengozi ye-liquidity. Ukuzazi lezi zingozi nokwazi ukuthi zingaphathwa kanjani kubalulekile ukuze uphumelele ekutshalweni kwebhondi. Ngokwenza ucwaningo olunzulu, ukuqapha iphothifoliyo, kanye nokufuna iseluleko sochwepheshe lapho kudingeka, abatshalizimali bangakwazi ukuzulazula kulezi zingozi futhi bathuthukise amathuba okuba nemiphumela emihle.
Kafushane, amabhondi anikeza indlela ethembekile yokufinyelela ukuzinza kwezezimali, ukulondoloza imali, nokwenza imali engenayo. Kungakhathaliseki ukuthi isetshenziswa njengemoto yokuqala yokutshala imali noma njengengxenye yesu elibanzi lokulinganisela iphothifoliyo, amabhondi angahlangabezana nezidingo ezihlukahlukene zokutshala izimali. Ngokukhetha ngokucophelela amabhondi, ukuqonda izici zawo, nokusebenzisa amasu acatshangelwayo, abatshalizimali bangathatha isikhangisovantage kwezinzuzo eziningi ezinikezwa ukutshalwa kwebhondi.
