Labor’s franking policy could put retirees invested in bank hybrids at risk (The Aust 22/09/18)

The growing alarm over the ALP plan to cut franking credit refunds for retirees is heavily centred on the impact the policy will have on shares.

But a large number of retiree investors also invest in hybrids in the search for fully franked yield.

It is these franking credits and the inability to use excess franking credits that I believe change the game negatively for hybrids.