{"id":30079,"date":"2023-12-07T08:55:49","date_gmt":"2023-12-07T08:55:49","guid":{"rendered":"https:\/\/masterskills.org\/blog\/danh-muc-dau-tu-co-dinh-dedicated-portfolio-la-gi-uu-va-nhuoc-diem-cua-danh-muc-dau-tu-co-dinh.html"},"modified":"2023-12-23T06:11:40","modified_gmt":"2023-12-22T23:11:40","slug":"danh-muc-dau-tu-co-dinh-dedicated-portfolio-la-gi-uu-va-nhuoc-diem-cua-danh-muc-dau-tu-co-dinh","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/danh-muc-dau-tu-co-dinh-dedicated-portfolio-la-gi-uu-va-nhuoc-diem-cua-danh-muc-dau-tu-co-dinh.html","title":{"rendered":"Danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ed1 \u0111\u1ecbnh (Dedicated Portfolio) l\u00e0 g\u00ec? \u01afu v\u00e0 nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a Danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ed1 \u0111\u1ecbnh"},"content":{"rendered":"
\n
\n
<\/div>
\n

Hi\u0300nh minh ho\u0323a. Ngu\u00f4\u0300n: Investopedia<\/p>\n<\/figcaption><\/figure>\n

Danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ed1 \u0111\u1ecbnh<\/font><\/h2>\n

Kha\u0301i ni\u00ea\u0323m<\/b><\/p>\n

Danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ed1 \u0111\u1ecbnh<\/b> trong ti\u00ea\u0301ng Anh la\u0300 Dedicated Portfolio.<\/b><\/p>\n

Danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ed1 \u0111\u1ecbnh<\/b> l\u00e0 m\u1ed9t\u00a0danh m\u1ee5c \u0111\u1ea7u t\u01b0\u00a0trong \u0111\u00f3 d\u00f2ng ti\u1ec1n thu nh\u1eadp \u0111\u01b0\u1ee3c thi\u1ebft k\u1ebf sao cho ph\u00f9 h\u1ee3p v\u1edbi c\u00e1c ngh\u0129a v\u1ee5 n\u1ee3 d\u1ef1 ki\u1ebfn.\u00a0<\/p>\n

Danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ed1 \u0111\u1ecbnh th\u01b0\u1eddng \u0111\u01b0\u1ee3c qu\u1ea3n l\u00ed m\u1ed9t c\u00e1ch th\u1ee5 \u0111\u1ed9ng v\u00e0 bao g\u1ed3m c\u00e1c t\u00e0i s\u1ea3n c\u1ea5p \u0111\u1ea7u t\u01b0 c\u00f3 thu nh\u1eadp c\u1ed1 \u0111\u1ecbnh \u1ed5n \u0111\u1ecbnh.<\/p>\n

\u0110\u1eb7c \u0111i\u1ec3m Danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ed1 \u0111\u1ecbnh<\/font><\/h3>\n

Danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ed1 \u0111\u1ecbnh<\/b> \u0111\u01b0\u1ee3c gi\u1edbi thi\u00eau b\u1edfi nh\u00e0 nghi\u00ean c\u1ee9u t\u00e0i ch\u00ednh Martin L. Leibowitz, \u00f4ng g\u1ecdi lo\u1ea1i danh m\u1ee5c \u0111\u1ea7u t\u01b0 n\u00e0y l\u00e0 m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c kh\u1edbp ti\u1ec1n m\u1eb7t (Cash-matching strategy).\u00a0<\/p>\n

Trong m\u1ed9t danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ed1 \u0111\u1ecbnh,\u00a0tr\u00e1i phi\u1ebfu\u00a0v\u00e0 c\u00e1c c\u00f4ng c\u1ee5 thu nh\u1eadp c\u1ed1 \u0111\u1ecbnh kh\u00e1c th\u01b0\u1eddng \u0111\u01b0\u1ee3c gi\u1eef cho \u0111\u1ebfn khi ch\u00fang \u0111\u00e1o h\u1ea1n.\u00a0<\/p>\n

M\u1ee5c ti\u00eau c\u1ee7a danh m\u1ee5c l\u00e0 t\u1ea1o ra m\u1ed9t d\u00f2ng ti\u1ec1n thu nh\u1eadp t\u1eeb c\u00e1c kho\u1ea3n thanh to\u00e1n l\u00e3i kh\u1edbp v\u1edbi c\u00e1c kho\u1ea3n chi ph\u00ed c\u1ea7n \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n trong m\u1ed9t kho\u1ea3ng th\u1eddi gian \u0111\u00e3 \u0111\u1ecbnh. \u00a0 \u00a0\u00a0<\/p>\n

Danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ed1 \u0111\u1ecbnh s\u1eed d\u1ee5ng ch\u1ee9ng kho\u00e1n c\u1ea5p \u0111\u1ea7u t\u01b0 \u0111\u1ec3 gi\u1ea3m thi\u1ec3u c\u00e1c r\u1ee7i ro v\u1ee1 n\u1ee3. Tuy nhi\u00ean, t\u00ednh b\u1ea3o \u0111\u1ea3m v\u00e0 \u1ed5n \u0111\u1ecbnh c\u1ee7a ch\u1ee9ng kho\u00e1n c\u1ea5p \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 l\u00e0m h\u1ea1n ch\u1ebf l\u1ee3i nhu\u1eadn m\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 thu l\u1ea1i. \u00a0\u00a0<\/p>\n

\u01afu v\u00e0 nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a Danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ed1 \u0111\u1ecbnh\u00a0<\/font><\/h3>\n

Danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ed1 \u0111\u1ecbnh<\/b> th\u00edch h\u1ee3p nh\u1ea5t cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n m\u1ed9t ngu\u1ed3n thu nh\u1eadp \u0111\u00e1ng tin c\u1eady trong t\u01b0\u01a1ng lai.\u00a0<\/p>\n

Nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 d\u1ef1 \u0111o\u00e1n \u0111\u01b0\u1ee3c d\u00f2ng ti\u1ec1n t\u01b0\u01a1ng lai c\u1ee7a m\u00ecnh, trong khi gi\u1ea3m thi\u1ec3u \u0111\u01b0\u1ee3c c\u00e1c lo\u1ea1i\u00a0r\u1ee7i ro th\u1ecb tr\u01b0\u1eddng,\u00a0r\u1ee7i ro t\u00e1i \u0111\u1ea7u t\u01b0, r\u1ee7i ro l\u1ea1m ph\u00e1t, r\u1ee7i ro v\u1ee1 n\u1ee3 v\u00e0\u00a0r\u1ee7i ro thanh kho\u1ea3n.<\/p>\n

H\u1ea1n ch\u1ebf c\u1ee7a danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ed1 \u0111\u1ecbnh l\u00e0 vi\u1ec7c x\u00e1c \u0111\u1ecbnh m\u1ed9t danh m\u1ee5c \u00edt t\u1ed1n k\u00e9m nh\u1ea5t v\u1edbi th\u1eddi giao \u0111\u00e1o h\u1ea1n ph\u00f9 h\u1ee3p v\u1edbi c\u00e1c kho\u1ea3n thu nh\u1eadp l\u00e3i nh\u1ea5t, kh\u00e1 ph\u1ee9c t\u1ea1p.\u00a0<\/p>\n

X\u00e2y d\u1ef1ng danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ed1 \u0111\u1ecbnh \u0111\u00f2i h\u1ecfi ph\u1ea3i n\u1eafm \u0111\u01b0\u1ee3c c\u00e1c \u0111\u1eb7c \u0111i\u1ec3m c\u00e1c c\u00f4ng c\u1ee5 t\u00e0i ch\u00ednh c\u00f3 thu nh\u1eadp c\u1ed1 \u0111\u1ecbnh, ki\u1ebfn th\u1ee9c to\u00e1n cao c\u1ea5p v\u00e0 c\u00e1c l\u00ed thuy\u1ebft t\u1ed1i \u01b0u h\u00f3a c\u0169ng nh\u01b0 v\u1ec1 c\u00e1c kho\u1ea3n n\u1ee3 ph\u1ea3i tr\u1ea3.\u00a0<\/p>\n

Ngo\u00e0i ra, c\u0169ng c\u00f3 m\u1ed9t s\u1ed1 lo\u1ea1i tr\u00e1i phi\u1ebfu kh\u00f4ng ph\u00f9 h\u1ee3p v\u1edbi c\u00e1c danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ed1 \u0111\u1ecbnh. \u00a0\u00a0<\/i><\/p>\n

V\u00ed d\u1ee5 v\u1ec1 Danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ed1 \u0111\u1ecbnh<\/font><\/h3>\n

Gi\u1ea3 s\u1eed c\u00f4ng ty A t\u1ed5 ch\u1ee9c m\u1ed9t qu\u0129 h\u01b0u tr\u00ed v\u00e0 d\u1ef1 ki\u1ebfn s\u1ebd b\u1eaft \u0111\u1ea7u th\u1ef1c hi\u1ec7n thanh to\u00e1n sau 20 n\u0103m.\u00a0<\/p>\n

C\u00f4ng ty A c\u00f3 th\u1ec3 x\u00e1c \u0111\u1ecbnh c\u00e1c kho\u1ea3n ngh\u0129a v\u1ee5 n\u1ee3 d\u1ef1 ki\u1ebfn trong t\u01b0\u01a1ng lai, sau \u0111\u00f3 x\u00e2y d\u1ef1ng m\u1ed9t danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ed1 \u0111\u1ecbnh<\/b> d\u1ef1a tr\u00ean gi\u00e1 tr\u1ecb t\u1ed5ng\u00a0qu\u0129 h\u01b0u tr\u00ed\u00a0c\u1ed9ng v\u1edbi c\u00e1c kho\u1ea3n thanh to\u00e1n l\u00e3i su\u1ea5t.\u00a0<\/p>\n

T\u1eeb \u0111\u00f3, c\u00f4ng ty A c\u00f3 th\u1ec3 t\u1ea1o ra m\u1ed9t d\u00f2ng ti\u1ec1n ch\u00ednh x\u00e1c \u0111\u1ee7 \u0111\u1ec3 tr\u1ea3 c\u00e1c ngh\u0129a v\u1ee5 n\u1ee3 c\u1ee7a m\u00ecnh v\u1edbi r\u1ee7i ro \u0111\u1ea7u t\u01b0 r\u1ea5t nh\u1ecf. \u00a0\u00a0<\/p>\n

Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 th\u00e2m d\u1ee5ng n\u1ee3 – LDI\u00a0<\/font><\/h3>\n

M\u1ed9t \u1ee9ng d\u1ee5ng ph\u1ed5 bi\u1ebfn c\u1ee7a danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ed1 \u0111\u1ecbnh <\/b>trong \u0111\u1ea7u t\u01b0\u00a0qu\u0129 h\u01b0u tr\u00ed\u00a0l\u00e0 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 th\u00e2m d\u1ee5ng n\u1ee3 – LDI.\u00a0<\/p>\n

Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 n\u00e0y gi\u1ea3m r\u1ee7i ro b\u1eb1ng c\u00e1ch c\u1ed1 g\u1eafng c\u00f3 \u0111\u01b0\u1ee3c c\u00e1c m\u1ee9c l\u00e3i su\u1ea5t ho\u1eb7c r\u1ee7i ro th\u1ecb tr\u01b0\u1eddng, sao cho l\u1ee3i nhu\u1eadn \u0111\u1ea1t \u0111\u01b0\u1ee3c theo th\u1eddi gian b\u1eb1ng, ho\u1eb7c v\u01b0\u1ee3t qu\u00e1 c\u00e1c ngh\u0129a v\u1ee5 n\u1ee3 h\u01b0u tr\u00ed trong t\u01b0\u01a1ng lai.\u00a0<\/p>\n

Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 th\u00e2m d\u1ee5ng n\u1ee3 kh\u00e1c v\u1edbi c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 d\u1ef1a tr\u00ean c\u00e1c \u0111i\u1ec3m chu\u1ea9n, v\u00ed d\u1ee5 nh\u01b0 c\u00e1c qu\u0129 ch\u1ec9 s\u00f4\u00a0S&P 500. \u00a0 <\/p>\n

(Theo Investopedia)<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ed1 \u0111\u1ecbnh (ti\u1ebfng Anh: Dedicated Portfolio) l\u00e0 m\u1ed9t danh m\u1ee5c \u0111\u1ea7u t\u01b0 trong \u0111\u00f3 d\u00f2ng ti\u1ec1n thu nh\u1eadp \u0111\u01b0\u1ee3c thi\u1ebft k\u1ebf sao cho ph\u00f9 h\u1ee3p v\u1edbi c\u00e1c ngh\u0129a v\u1ee5 n\u1ee3 d\u1ef1 ki\u1ebfn, \u0111\u01b0\u1ee3c qu\u1ea3n l\u00ed th\u1ee5 \u0111\u1ed9ng v\u00e0 g\u1ed3m c\u00e1c t\u00e0i s\u1ea3n c\u00f3 thu nh\u1eadp c\u1ed1 \u0111\u1ecbnh \u1ed5n \u0111\u1ecbnh.\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\/30079"}],"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=30079"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30079\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=30079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=30079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=30079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}