12 October 2022

Market Value & Liquidity

Fund structure plays an important part in the performance of credit funds. A well-structured fund supports pricing transparency, liquidity and fairness for unitholders. In this paper, Richard Quin outlines the […]

5 March 2022

The Case for Investing in Global Credit

Global credit can be a useful
diversifying asset class for Australian
investors. It can offer higher income
than cash, with less risk than shares,
while bringing diversification benefits that can reduce overall portfolio risk.

31 December 2021

Bentham Syndicated Loan Primer

Syndicated loans have developed
into an institutionally accepted asset
class because of their competitive
absolute returns and strong risk adjusted returns. When investing
in Syndicated Loans it is important
to consider managers that offer
diversification, as well as access
to new issues and hedging for
AUD investors.

Chart showing optimized allocation for prospective yield
1 February 2021

Asset Allocation in a Zero Interest Rate World

The current low level of interest rates provides investors with a very low starting point for forecasting future market returns.

This paper considers the role for alternative asset allocations in a 60/40 balanced portfolio in different economic scenarios over the medium term.

The odd case of the Missing Asset Class, investigated
10 June 2020

Missing Asset Class

Australian investors’ portfolios are commonly allocated between two extremes: low-risk cash and fixed interest at one end, and high-risk equities (predominantly Australian equities) at the other, leaving a rather large gap in the middle.

This is unfortunate, because there is an income-producing asset that sits comfortably in that gap. This is The Missing Asset Class.

29 November 2019

Better yields than bonds (with less risk than equities)

Investors are facing a common challenge: falling cash rates make it hard to earn a real return above inflation. Record-low yields on asset classes like cash (term deposits) and traditional fixed interest (government bonds) provide little investment income, while attempting to target similar returns from previous years may force investors to allocate into riskier asset classes such as equities, just as those markets are reaching new peaks.

1 December 2017

The importance of the capital structure in credit investments

Before making any investment decision, whether it’s in equity, fixed income or property it’s important to consider whether you are adequately compensated for the risks you are taking. Understanding where your investment sits in the capital structure will help you recognise the potential downside that could result in permanent loss of capital.

Graph showing asset class historical nominal returns vs historical risk
1 March 2012

Lost in the Middle

A discussion paper written by Richard Quin, concerning the position of credit vis a vis portfolio construction in the post global financial crisis economy.