Clik here to view.
Hybrids: have they run too far?
Movement in spreads Hybrids (or ‘additional Tier 1’ ‘AT1’) as they are often referred to, sit at the bottom of a bank’s debt capital stack and one rung above common equity. They are designed to have...
View ArticleDuration is back! Investing in Fixed Income
Duration is back In late 2011 the US 10-year bond yield went below 2% for the first time in the past 100 years, and for the next decade rarely got above that level, and indeed fell to around 0.50%...
View ArticleVideo: Why now is the time for fixed income
Staying ahead in the investment landscape is key for wealth practices who want to deliver strong returns for their clients, and in turn grow and scale their business. Learn how you can empower your...
View ArticleA growth engine for your wealth practice
With the evolving role of financial platforms and their growing impact on wealth practices, Tim Yule, our CEO, shares insights on how platforms like Mason Stevens can transform the growth and...
View ArticleStrategies for growing and scaling your wealth management business
The landscape of wealth management is undergoing a significant transformation, with an increasing focus on servicing High Net Worth (HNW) clients. As financial advisers and wealth management...
View ArticleClik here to view.
Australian Equities – The Challenge of both Beta and Alpha
Over the past decade, Australian equities have delivered a solid, if slightly underwhelming absolute return of 7.67% p.a.1 What has been particularly noticeable, however, is the large underperformance...
View ArticleClik here to view.
Hybrids Become Topical Once Again
Since our last relative value note, spreads have continued to compress in Australian listed bank hybrids. This is largely due to a lack of supply and increase of investors allocating to fixed income....
View ArticleClik here to view.
Is it time for a rebound in Property and Infrastructure?
It has been a tough five years for both listed and unlisted Property and Infrastructure markets. The spike in inflation coming out of the pandemic and the subsequent steep interest rate hiking cycle...
View ArticleClik here to view.
Liberation Day – assessing the damage
Conclusion up front: Although there is room for discussions, it seems likely that US effective tariffs, even after negotiations, are likely to rise to ~20-25% (vs ~3% in ’23). This returns US beyond...
View ArticleClik here to view.
Private Credit – The End of the Golden Run?
The Australian private credit market has continued to expand substantially, with estimates placing its value at approximately AUD $205 billion. We have seen a rapid growth in the number of domestic...
View Article