I use an investment account for my travel account. This method may not be for everyone, but it works for me. Taxable investment account allows you to grow your fund quicker. I’m not comfortable using the same 90/10 stock/connection split I take advantage of for my long-term investment account, though. Instead, I use a 65/35 stock/connection split for a bit more balance in the stock portfolio. My asset allocation is accomplished using low-cost exchange-traded funds (ETFs).
The weighted average age of funds at the time of launch and scheduled call time of the 3-Astrea Class A-1 bonds are as follows. Their lifespans superimposed onto the PE J-Curve are shown in Fig. 3 below. Astrea III bonds (blue series) will last from the 6th to the 9th year of the underlying PE money that Astrea III spent into.
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- Tracks performance of 30 top dividend-paying REITs (take note: NOT Market Cap weighted)
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- B3 – concept investment
- 20% – Socially, paying of phone bill + creating connections
- Buy things of value in this stagflation period
This is the sugary spot that we discussed earlier — enter across the 5th calendar year and exit before the 10th year. It is the safest of the 3 Astrea bonds probably. In fact, it offers just been announced that the bond would be redeemed as scheduled in 2 weeks’ time.
Astrea IV bonds (purple line) will last from the 7th to 12th 12 months of the underlying PE funds. The PE funds are producing a lot of cash currently, with total net distributions (after deducting capital calls) of USD243M in Astrea IV’s first calendar year of existence. That is equivalent to 22% of its stock portfolio value during IPO.
However, as shown in Fig. 3, the quantity of distributions is expected to decline continue. Astrea V bonds (brown line) can last from the 5th to the 10th year of the underlying PE funds. In comparison to Astrea IV bonds, there’s a little more risk initially, as the companies in the PE money are less older and less ready to be exited. Furthermore, there are higher capital calls expected. But if these risks in the initial years can be got over, Astrea V bonds will have less risks towards the finish compared to Astrea IV bonds, as cash flows for the tail-end wouldn’t normally have declined as much.
When you go through the dangers of Astrea IV and Astrea V bonds, some of the safeguards that Azalea put in place for the bonds begin to make a lot of sense. Let’s discuss Astrea V bonds first, as it is simpler. As mentioned, one of the main element risks for this is higher capital phone calls. That is mitigated by the capital call facility that allows Astrea V to borrow money from the banking institutions to meet the capital calls.