{"id":29823,"date":"2023-12-07T08:42:54","date_gmt":"2023-12-07T08:42:54","guid":{"rendered":"https:\/\/masterskills.org\/blog\/thoi-gian-dao-han-binh-quan-gia-quyen-weighted-average-maturity-wam-la-gi-dac-diem.html"},"modified":"2023-12-23T06:10:38","modified_gmt":"2023-12-22T23:10:38","slug":"thoi-gian-dao-han-binh-quan-gia-quyen-weighted-average-maturity-wam-la-gi-dac-diem","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/thoi-gian-dao-han-binh-quan-gia-quyen-weighted-average-maturity-wam-la-gi-dac-diem.html","title":{"rendered":"Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n (Weighted Average Maturity &#8211; WAM) l\u00e0 g\u00ec? \u0110\u1eb7c \u0111i\u1ec3m"},"content":{"rendered":"<div class=\"vnbcbc-body vceditor-content wi-active\" data-role=\"content\">\n<figure class=\"VCSortableInPreviewMode\" type=\"Photo\" style=\"\">\n<div><\/div><figcaption class=\"PhotoCMS_Caption\">\n<p data-placeholder=\"[nh\u1eadp ch\u00fa th\u00edch]\">Hi\u0300nh minh ho\u0323a. Ngu\u00f4\u0300n: Investopedia<\/p>\n<\/figcaption><\/figure>\n<h2><font style=\"line-height: 22px; font-size: 22px;\" color=\"#3d85c6\">Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n<\/font><\/h2>\n<p><b>Kha\u0301i ni\u00ea\u0323m<\/b><\/p>\n<p><b>Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n<\/b> hay <b>Th\u1eddi gian \u0111\u00e1o h\u1ea1n trung b\u00ecnh c\u00f3 tr\u1ecdng s\u1ed1 <\/b>trong ti\u00ea\u0301ng Anh la\u0300 <b>Weighted Average Maturity &#8211; WAM.<\/b><\/p>\n<p><b>Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n (WAM) <\/b>l\u00e0 kho\u1ea3ng th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n c\u00f3 tr\u1ecdng s\u1ed1 c\u1ee7a c\u00e1c t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p trong m\u1ed9t\u00a0ch\u1ee9ng kho\u00e1n b\u1ea3o \u0111\u1ea3m b\u1eb1ng th\u1ebf ch\u1ea5p (MBS).\u00a0<\/p>\n<p>Thu\u1eadt ng\u1eef n\u00e0y \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng r\u1ed9ng r\u00e3i \u0111\u1ec3 m\u00f4 t\u1ea3 c\u00e1c k\u00ec h\u1ea1n trong danh m\u1ee5c \u0111\u1ea7u t\u01b0 ch\u1ee9ng kho\u00e1n n\u1ee3, bao g\u1ed3m n\u1ee3 doanh nghi\u1ec7p v\u00e0\u00a0tr\u00e1i phi\u1ebfu \u0111\u00f4 th\u1ecb.\u00a0<\/p>\n<h3><font style=\"line-height: 22px; font-size: 22px;\" color=\"#3d85c6\">\u0110\u1eb7c \u0111i\u1ec3m Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n\u00a0<\/font><\/h3>\n<p><b>Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n (WAM) <\/b>c\u00e0ng cao, th\u00ec c\u00e0ng m\u1ea5t nhi\u1ec1u th\u1eddi gian \u0111\u1ec3 t\u1ea5t c\u1ea3 c\u00e1c kho\u1ea3n th\u1ebf ch\u1ea5p ho\u1eb7c tr\u00e1i phi\u1ebfu trong danh m\u1ee5c \u0111\u1ea7u t\u01b0 \u0111\u00e1o h\u1ea1n.<\/p>\n<p>Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n (WAM) \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 qu\u1ea3n l\u00ed danh m\u1ee5c n\u1ee3 v\u00e0 \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 hi\u1ec7u su\u1ea5t c\u1ee7a c\u00e1c nh\u00e0 qu\u1ea3n l\u00ed\u00a0danh m\u1ee5c n\u1ee3.\u00a0Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n (WAM) l\u00e0 m\u1ed9t d\u1ea1ng kh\u00e1c c\u1ee7a<i> tu\u1ed5i n\u1ee3 b\u00ecnh qu\u00e2n gia quy\u1ec1n (WALA)<\/i>.<\/p>\n<p>Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n (WAM) \u0111\u01b0\u1ee3c t\u00ednh b\u1eb1ng c\u00e1ch t\u00ednh gi\u00e1 tr\u1ecb ph\u1ea7n tr\u0103m c\u1ee7a t\u1eebng t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p ho\u1eb7c c\u00f4ng c\u1ee5 n\u1ee3 trong danh m\u1ee5c \u0111\u1ea7u t\u01b0.<\/p>\n<p><i>L\u1ea5y t\u1ed5ng k\u1ebft qu\u1ea3 c\u00e1c s\u1ed1 th\u00e1ng ho\u1eb7c n\u0103m cho \u0111\u1ebfn khi \u0111\u00e1o h\u1ea1n c\u1ee7a tr\u00e1i phi\u1ebfu, nh\u00e2n v\u1edbi t\u1ec9 tr\u1ecdng c\u1ee7a n\u00f3 trong danh m\u1ee5c, s\u1ebd b\u1eb1ng th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n c\u1ee7a tr\u00e1i phi\u1ebfu trong danh m\u1ee5c \u0111\u1ea7u t\u01b0.  \u00a0\u00a0<\/i><\/p>\n<h3><font style=\"line-height: 22px; font-size: 22px;\" color=\"#3d85c6\">C\u00e1ch t\u00ednh Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n\u00a0<\/font><\/h3>\n<p>Gi\u1ea3 s\u1eed, m\u1ed9t nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1edf h\u1eefu m\u1ed9t danh m\u1ee5c \u0111\u1ea7u t\u01b0\u00a030.000 USD, n\u1eafm gi\u1eef 3 lo\u1ea1i tr\u00e1i phi\u1ebfu.<\/p>\n<p>&#8211; Tr\u00e1i phi\u1ebfu A l\u00e0 tr\u00e1i phi\u1ebfu tr\u1ecb gi\u00e1 5.000 USD (t\u1ec9 tr\u1ecdng 16,7% t\u1ed5ng danh m\u1ee5c \u0111\u1ea7u t\u01b0) v\u00e0 \u0111\u00e1o h\u1ea1n trong 10 n\u0103m.<\/p>\n<p>\u00a0&#8211; Tr\u00e1i phi\u1ebfu B tr\u1ecb gi\u00e1 10.000 USD (t\u1ec9 tr\u1ecdng 33,3%) \u0111\u00e1o h\u1ea1n trong 6 n\u0103m.\u00a0<\/p>\n<p>\u00a0&#8211; Nh\u00e0 \u0111\u1ea7u t\u01b0 c\u0169ng s\u1edf h\u1eefu tr\u00e1i phi\u1ebfu C, tr\u00e1i phi\u1ebfu tr\u1ecb gi\u00e1 15.000 USD (t\u1ec9 tr\u1ecdng 50%) v\u1edbi th\u1eddi gian \u0111\u00e1o h\u1ea1n l\u00e0 4 n\u0103m.\u00a0<\/p>\n<p>\u0110\u1ec3 t\u00ednh <b>th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n (WAM)<\/b>, m\u1ed7i t\u1ec9 l\u1ec7 ph\u1ea7n tr\u0103m \u0111\u01b0\u1ee3c nh\u00e2n v\u1edbi th\u1eddi gian \u0111\u00e1o h\u1ea1n, nh\u01b0 sau:<\/p>\n<p>WAM = (16,7% * 10 n\u0103m) + (33,3% * 6 n\u0103m) + (50% * 4 n\u0103m) = 5,67 n\u0103m , ho\u1eb7c kho\u1ea3ng 5 n\u0103m 8 th\u00e1ng.  \u00a0\u00a0<\/p>\n<h3><font style=\"line-height: 22px; font-size: 22px;\" color=\"#3d85c6\">\u0110\u1ea7u t\u01b0 v\u1edbi Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n<\/font><\/h3>\n<p><b>Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n (WAM)<\/b> \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng nh\u01b0 m\u1ed9t c\u00f4ng c\u1ee5 \u0111\u1ec3 qu\u1ea3n l\u00ed danh m\u1ee5c \u0111\u1ea7u t\u01b0 tr\u00e1i phi\u1ebfu v\u00e0 \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 hi\u1ec7u su\u1ea5t c\u1ee7a c\u00e1c nh\u00e0 qu\u1ea3n l\u00ed danh m\u1ee5c \u0111\u1ea7u t\u01b0.   C\u00e1c\u00a0qu\u0129 t\u01b0\u01a1ng h\u1ed7, v\u00ed d\u1ee5, cung c\u1ea5p danh m\u1ee5c \u0111\u1ea7u t\u01b0 tr\u00e1i phi\u1ebfu v\u1edbi nhi\u1ec1u gi\u00e1 tr\u1ecb th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n (WAM) kh\u00e1c nhau.\u00a0<\/p>\n<p><i>Danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a qu\u0129 t\u01b0\u01a1ng h\u1ed7 c\u00f3 th\u1ec3 c\u00f3 WAM ng\u1eafn nh\u1ea5t l\u00e0 5 n\u0103m ho\u1eb7c d\u00e0i nh\u1ea5t l\u00e0 30 n\u0103m.   Nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 ch\u1ecdn m\u1ed9t qu\u0129 \u0111\u1ea7u t\u01b0 v\u00e0o tr\u00e1i phi\u1ebfu ph\u00f9 h\u1ee3p v\u1edbi khung th\u1eddi gian \u0111\u1ea7u t\u01b0 c\u1ee5 th\u1ec3 c\u1ee7a m\u00ecnh.\u00a0<\/i><\/p>\n<p>M\u1ee5c ti\u00eau \u0111\u1ea7u t\u01b0 c\u1ee7a qu\u0129 t\u01b0\u01a1ng h\u1ed7 s\u1ebd bao g\u1ed3m c\u00e1c \u0111i\u1ec3m chu\u1ea9n, ch\u1eb3ng h\u1ea1n nh\u01b0 ch\u1ec9 s\u1ed1 th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu.  Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n c\u1ee7a danh m\u1ee5c \u0111\u1ea7u t\u01b0 \u0111i\u1ec3m chu\u1ea9n s\u1ebd c\u00f3 s\u1eb5n cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0 nh\u00e0 qu\u1ea3n l\u00ed danh m\u1ee5c \u0111\u1ea7u t\u01b0 \u0111\u1ec3 tham kh\u1ea3o.\u00a0<\/p>\n<p>Hi\u1ec7u su\u1ea5t \u0111\u1ea7u t\u01b0 c\u1ee7a nh\u00e0 qu\u1ea3n l\u00ed danh m\u1ee5c s\u1ebd \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 d\u1ef1a tr\u00ean t\u1ec9 l\u1ec7 ho\u00e0n v\u1ed1n\u00a0v\u00e0 th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n (WAM) tr\u00ean danh m\u1ee5c \u0111\u1ea7u t\u01b0 tr\u00e1i phi\u1ebfu qu\u0129.  \u00a0\u00a0<\/p>\n<h3><font style=\"line-height: 22px; font-size: 22px;\" color=\"#3d85c6\">Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n v\u00e0 Thang tr\u00e1i phi\u1ebfu<\/font><\/h3>\n<p>Thang tr\u00e1i phi\u1ebfu gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u1ecbnh h\u01b0\u1edbng thu nh\u1eadp duy tr\u00ec \u1edf m\u1ee9c l\u00e3i su\u1ea5t h\u1ee3p l\u00ed cho danh m\u1ee5c \u0111\u1ea7u t\u01b0 tr\u00e1i phi\u1ebfu, th\u00f4ng qua s\u1eed d\u1ee5ng\u00a0<b>th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n (WAM)<\/b>\u00a0\u0111\u1ec3 \u0111\u00e1nh gi\u00e1 danh m\u1ee5c \u0111\u1ea7u t\u01b0.<\/p>\n<p>Thang tr\u00e1i phi\u1ebfu l\u00e0 m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0\u00a0li\u00ean quan \u0111\u1ebfn vi\u1ec7c mua tr\u00e1i phi\u1ebfu v\u1edbi c\u00e1c ng\u00e0y \u0111\u00e1o h\u1ea1n kh\u00e1c nhau, c\u00f3 ngh\u0129a l\u00e0 c\u00e1c kho\u1ea3n thanh to\u00e1n c\u1ee7a danh m\u1ee5c \u0111\u1ea7u t\u01b0 s\u1ebd \u0111\u01b0\u1ee3c tr\u1ea3 cho nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ea1i c\u00e1c th\u1eddi \u0111i\u1ec3m kh\u00e1c nhau theo th\u1eddi gian.\u00a0<\/p>\n<p>Chi\u1ebfn l\u01b0\u1ee3c b\u1eadc thang cho ph\u00e9p tr\u00e1i ch\u1ee7 t\u00e1i \u0111\u1ea7u t\u01b0 tr\u00e1i phi\u1ebfu theo t\u1ec9 l\u1ec7 l\u00e3i su\u1ea5t hi\u1ec7n h\u00e0nh trong th\u1eddi gian \u0111\u1ea7u t\u01b0, \u0111i\u1ec1u n\u00e0y gi\u00fap gi\u1ea3m r\u1ee7i ro t\u00e1i \u0111\u1ea7u t\u01b0 to\u00e0n b\u1ed9 danh m\u1ee5c \u0111\u1ea7u t\u01b0 khi l\u00e3i su\u1ea5t th\u1ea5p.\u00a0<\/p>\n<p>(Theo Investopedia)<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"vnbcbc-sapo\" data-role=\"sapo\">\n                            Th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n gia quy\u1ec1n (ti\u1ebfng Anh: Weighted Average Maturity &#8211; WAM) l\u00e0 kho\u1ea3ng th\u1eddi gian \u0111\u00e1o h\u1ea1n b\u00ecnh qu\u00e2n c\u00f3 tr\u1ecdng s\u1ed1 c\u1ee7a c\u00e1c t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p trong m\u1ed9t ch\u1ee9ng kho\u00e1n b\u1ea3o \u0111\u1ea3m b\u1eb1ng th\u1ebf ch\u1ea5p (MBS).\n                        <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/29823"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=29823"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/29823\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=29823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=29823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=29823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}