As of March 31, the Company's Agency Securities portfolio consisted of Fannie Mae, Freddie Mac and Ginnie Mae mortgage securities, substantially all of which are fixed rate securities
, and was valued at $6.2 billion on a trade date basis.
London: Moody's Investors Service has withdrawn for business reasons the A2 rating on the Rand 1,400.0M fixed rate securities
due September 2022 issued by Credit Suisse AG (London) Branch (Series SPLB 2012-1262, ISIN XS0831897110).
"We have two other funds that invest in fixed rate securities
namely the United Conservative Fund (UCF) and the United Cash Management fund (UCMF).
In the past, this scarcity of suitable long term sterling fixed rate securities
has meant that such investors have typically held much higher foreign equity allocations than their overseas counterparts.
"When you think rates are going higher, you invest in the asset class, and when you think rates are going lower, you pull back and go into fixed rate securities
. I think it's an interesting way of looking at it from a strategic standpoint, just given all the uncertainties and the unknowns that are out there."
Table 2 shows examples of positions that can be covered by strategies for the hedging of currency risk, interest rate risk (on fixed rate securities
) and cash flow risk (on floating rate securities).
If you are lending money or investing in fixed rate securities
, rates may well seem low.