Mu ishoramari, abantu benshi bamenyereye gushora mu migabane (stocks), ariko amabonde (bonds) na yo agira uruhare runini mu kubaka ishoramari ritekanye kandi riringaniye.
Nubwo isoko ry’amabonde rishobora kugaragara nk’irigoye ku bantu benshi, mu by’ukuri amabonde ni igikoresho cyoroshye cyo kuguriza amafaranga, gifasha umushoramari kubona inyungu zihoraho.
Amabonde akora ate?
Bond ni nk’inguzanyo umushoramari aha ikigo cyangwa Leta. Aho ikigo kijya kwaka inguzanyo muri banki, gisohora amabonde, abashoramari bakayagura. Icyo kigo cyishyura inyungu (coupon) ku gihe cyateganyijwe (buri mwaka cyangwa kabiri mu mwaka), hanyuma kikazishyura igishoro cyose (principal) ku itariki bond irangiye, bita maturity.
Amabonde atandukanye n’imigabane kuko umushoramari aba agurije amafaranga aho kuba ari nyir’igice cy’ikigo. Buri bond igira amategeko ayigenga asobanura neza uko izishyurwa.
Ubwoko bw’amabond
Amabond y’ibigo (Corporate Bonds)
Aya ni amabonde atangwa n’ibigo byigenga kugira ngo bibone amafaranga yo kwagura imirimo yabyo. Inyungu yayo iterwa n’uko ikigo cyizewe.
Amabonde afite ibyago byinshi (junk bonds) atanga inyungu nyinshi, ariko aba afite n’ingaruka zo kutishyurwa.
Amabond ya Leta (Sovereign Bonds)
Aya atangwa na Leta. Akenshi aba afite umutekano mwinshi kuko Leta itapfa guhomba byoroshye, ariko inyungu yayo iba nto ugereranyije n’andi mabonde.
Amabonde y’inzego z’ibanze (Municipal Bonds)
Atangwa n’intara, uturere cyangwa imijyi. Akenshi inyungu yayo iba itangirwa umusoro muke cyangwa ntitangirwe umusoro na busa, bigatuma akundwa n’abashoramari bafite imisoro myinshi.
Amagambo y’ingenzi ugomba kumenya
Maturity (Igihe bond irangirira): Ni itariki umushoramari azasubizwa igishoro cye cyose.
Coupon: Ni inyungu umushoramari ahabwa buri gihe, igaragazwa mu ijanisha.
Secured na Unsecured Bonds: Amabond ashobora kuba afite umutungo w’ingwate cyangwa atawufite. Afite ingwate aba atekanye kurusha adafite ingwate.
Tax Status: Hari amabond atangirwa umusoro n’andi adatangirwa umusoro.
Callability: Amabonde amwe ashobora kwishyurwa mbere y’igihe cyayo, bitewe n’inyungu z’ikigo cyayatanze.
Ibyago bijyanye n’amabond
Nubwo amabond afatwa nk’ishoramari ritekeye kurusha imigabane, na yo afite ibyago:
Ibyago by’ihindagurika ry’inyungu (Interest Rate Risk): Iyo inyungu ku isoko izamutse, agaciro k’amabond kagabanuka.
Ibyago byo kutishyurwa (Credit/Default Risk): Ikigo gishobora kunanirwa kwishyura inyungu cyangwa igishoro.
Prepayment Risk: Ikigo gishobora kwishyura bond mbere y’igihe, bigatuma umushoramari atakaza inyungu yari ategereje.
Nubwo isoko ry’amabonde rishobora kugaragara nk’irigoye, rishingiye ku mahame amenyerewe y’inyungu n’ibyago, kimwe n’isoko ry’imigabane.
Umushoramari wumva amagambo shingiro n’imikorere y’amabond ashobora kuyakoresha neza mu kugabanya ibyago, kubona inyungu zihoraho no kubaka ishoramari rirambye.
INVESTOPEDIA