Shows
The Rate Of Change#47 Jason Coggins | How to Position Yourself for the AI Arms Race, SaaS Disruption, Private Credit & Global Macro InsightsIn this episode of The Rate of Change, host Murdoch Gatti sits down with investment strategist Jason Coggins, former Joint Head of a major wealth management firm and consultant to leading private-market firms including Aura Group, Elliston Capital, and IBEX Investors. Jason also serves on the investment committees for Australian Philanthropic Services and Third Link Growth Fund, providing him with a uniquely broad view across public and private markets.Murdoch and Jason explore the major macro forces shaping wealth creation in 2025 — from the rapid acceleration of AI and large language models, to evolving trends in gl...
2025-11-161h 16
The Rate Of Change#46 - Ben Harrison | Backing Growth Beyond Lending: How Altor & Prime Combine Debt, Equity & Strategy to Invest in Mid-Market BusinessesIn today’s ROCast, Murdoch is joined by Ben Harrison, Co-Founder and Chief Investment Officer of Altor Capital, which as of February 2024 has been acquired by Prime Financial Group. Ben’s career began in engineering and project management on major infrastructure projects across Australia and Southeast Asia, before moving into finance with Wilsons — soon to be part of Canaccord — where he worked in equity research, ECM, and M&A. Nearly a decade ago, he co-founded Altor, building it into a specialist alternative asset manager with a focus on private credit and growth equity. Wha...
2025-09-221h 11
The Rate Of Change#45 - Eric Chan | Hunting Unicorns: The AI Opportunity in Asia-PacificIn today’s ROCast, Murdoch Gatti is joined by Eric Chan, co-founder and Group MD of Aura Ventures & Aura Group. Eric shares what it takes to build a funds management business and their pursuit of backing Asia-Pacific’s next AI unicorn — through a disciplined process that blends private credit stability with high-conviction venture capital.We break down Aura’s two flagship strategies:Aura Private Credit Income Fund — an evergreen wholesale fund that has delivered ~9% p.a. since 2017 by financing SME-focused non-bank lenders. With short-duration loans, first-loss protection, and monthly liquidity, it offers stable inc...
2025-08-271h 27
The Rate Of Change#44 - Johan Kenny | Tapping Into Australia's Essential Water Infrastructure PipelineIn today’s ROCast, Murdoch is joined by Johann Kenny, CFA, Investment Director at Allcap Securities. Johann’s background spans capital markets, structured credit, and private equity—having held senior roles at ANZ, ING, Fitch Ratings, Equifax and Arowana. But what struck me most in this conversation is just how risk-averse and methodical he is—shaped, in part, by his early career navigating capital markets during the Sri Lankan civil war.In this episode, Johann breaks down the macro environment for construction in Australia—highlighting the difference between private sector development and government-funded infrastructure, particularly essential...
2025-06-301h 12
The Rate Of Change#44 - Johann Kenny | Tapping Into Australia's Essential Water Infrastructure PipelineIn today’s ROCast, we’re joined by Johann Kenny, CFA, Investment Director at Allcap Securities. Johann brings deep experience across capital markets, structured credit, and private equity—having held senior roles at ANZ, ING, Fitch Ratings, Equifax and Arowana before joining Allcap. His current focus is on structuring investment opportunities that aim to deliver income, capital protection, and exposure to real-world assets and government-backed infrastructure projects. We often speak with asset managers who raise capital via managed funds—but today’s episode brings a different structure. Allcap uses special purpose vehicles (SPVs) to raise capital fo...
2025-06-251h 25
The Rate Of Change#43 - Ryan Bass | Opening the Door to Australia’s Institutional-Grade Property MarketRyan Bass, Founder and Managing Director of PanGen Capital joins Murdoch Gatti from York Wealth Management on The Rate Of Change. Ryan spent 16 years at UniSuper, where he was involved in more than $8 billion in property transactions across direct real estate, unlisted property funds, and listed A-REITs. After completing his articles at a commercial law firm, Ryan started his career at MCS Property—one of Australia’s original and largest syndicators—and was one of the founding six behind iSelect, before choosing to focus on funds management and institutional real assets.At The Rate of Change...
2025-06-181h 12
The Rate Of Change#42 – Jason Coggins | Macro Insights & Where to Strategically Allocate Your AssetsQuarterly Insights with Jason Coggins. In today’s ROCAST, we’re bringing you something a little different. For those unfamiliar with Jason, he is one of the industry's leading minds in strategic asset allocation, wealth management, and macroeconomics. He’s worked with some of the biggest names in the industry—ANZ, CBA, Koda Capital—and currently advises five major institutions and family offices. We’re fortunate to have him as the Investment Committee Chair at Initium Capital and the Hayson & Huang Family Office, with whom York Wealth Management is proud to be partnered and I think you’re really going to benef...
2025-05-0757 min
The Rate Of Change#41 - Nick Thomson | How to target equity style returns via asset backed private lending?Welcome back to The Rate of Change with York Wealth Management. As advisors to some of the wealthiest families in the country, The Rate of Change is a podcast designed to help you in the pursuit of building long-term wealth through insights from some of the brightest minds in asset management. I’m your host, Murdoch Gatti, and in today’s ROCast, we sit down with Nick Thomson, Executive at Aquasia to exploring the world of private credit and structured finance. If you’re interested in how private credit funds are structured, how lending is approa...
2025-04-291h 14
The Rate Of Change#40 - Clint Maddock | Bitcoin, Ethereum – Income Through High-Yield Crypto ContractsClint Maddock, Founder and Director of Digital Asset Funds Management—or DAFM for short. DAFM operates multiple funds, including the Digital Income Class, an income-focused fund in digital assets that applies a trading strategy originally developed by a hedge fund partner for traditional fixed-income markets.If you're familiar with digital assets like Bitcoin and Ethereum—or if you’re still trying to figure out what exactly is a digital asset?—this conversation will be interesting for you. We explore broader questions about crypto markets, like: Where is the industry headed? Has it matured beyond its early volatility? What if...
2025-03-181h 07
The Rate Of Change#39 - Simon Klimt | Resource Royalties & How They Can Outlive Miners Boom & Bust CyclesIn today’s ROCast, Murdoch's joined by Simon Klimt Portfolio Manager at Regal Resources Royalties Fund. The fund was established in 2019, available for wholesale investors only and as of time of recording has an Annualised return since inception of 25.5%. 5 year ave is 26.46%, 3yr ave 31.49%, 1 Year ave 26.69% and has most recently returned 4.89% last month. If your familiar with Royalties or you’re sitting there wondering what is a Royalty? How do royalties work? How do they work in regards to Mining Resources? Are they as volatile as investing directly in mining companies and why have the hist...
2025-02-171h 24
The Rate Of Change#38 - Andrew McVeigh | Where to for Private Credit Lending?Andrew McVeigh is the Managing Director at Remara Investment Management. With over a decade of experience, Andrew has developed innovative lending strategies and has a deep understanding of private finance. His career offers unique insights into the evolving world of real estate and private credit markets.Andrew explains Remaras' integrated model, there investment philosophy and sheds light on Remaras' Private Credit Income Fund, which has returned 13.5% annual returns as of late last year, just before Christmas.Beyond finance, Andrew shared his experience as a former board member of the Cronulla Sharks and discussed...
2025-01-201h 36
The Rate Of Change#37 - Michael Goldberg | Unlocking Value Beyond Consensus in Gold, Energy & Aussie MarketsIn today’s ROCast, Murdochs joined by Michael Goldberg, Co-Founder, Managing Director and Portfolio Manager of Collins Street Asset Management. Michael’s flagship fund, the Collins Street Value Fund, has returned 14.85% over the past 12 months and 13.5% per annum since its inception in 2016. His background, shaped by early lessons in his family’s business in the rag trade and his unconventional path into finance, brings a fresh perspective on identifying deep value opportunities in the Australian Share Market.In this episode, Michael dives into their core principles for value investing. We’ll explore how Collins Street Asset Ma...
2024-11-191h 37
Daily Politics from the New StatesmanBezos, Murdoch, Musk: what drives the men who control our media?What was behind the Washington Post's shock decision not to endorse a presidential candidate? Its owner, Jeff Bezos, has cited reasons of impartiality and a perception of bias. Others have suggested that the decision was financially motivated, made out of fear of losing support and contracts from a Trump government.Tom Gatti is joined by Alison Phillips, former editor of the Daily Mirror, to discuss the impact of this choice and also what drives the handful of men who have controlled our media throughout history.Read more from Alison Phillips on the New...
2024-11-0426 min
The Rate Of Change#36 - Steven Maarbani | How Crowdfunding is Reshaping VC & Real-EstateSteven Maarbani is the CEO and Co-founder of VentureCrowd. Steven shares the story of VentureCrowd’s evolution, beginning in 2013 as a venture capital-focused tool and expanding into a multi-asset investment platform. This transformation, supported by the 2017 legalization of crowdfunding in Australia, has opened access to traditionally restrictive deals—an approach that, according to Forbes, aligns with the changing investment preferences of younger generations.Steven brings extensive experience as a corporate lawyer and former partner at PwC, where he guided founders, high-net-worth individuals, angel syndicates, and venture firms through the complex deal-making process.St...
2024-11-0410h 44
The Rate Of Change#35 - Nicholas Chaplin | Generating Income with Hybrid SecuritiesNicholas Chaplin is a Director & Senior Portfolio Manager for Seed Partnerships Hybrid Income Fund. Nicholas specialises in structuring and education of financial capital with a focus on Hybrid Notes. Nick spent 12 years building and leading NAB’s hybrid and structured capital origination business. Prior to Nab, he built Westpac's Hybrid capital business For Commsec he ran a hybrid securities portfolio with over $250 million and managed the HIF investment strategy within the Paraclete Funds Management Trust, which invested exclusively in prudentially regulated securities.Nicholas shares his thoughts on how Hybrids have evolved from 1990s, to the no...
2024-10-242h 50
The Rate Of Change#34 - Adrian Redlich | Navigating lending to Agriculture, Resources, Commercial Property & Hard AssetsAdrian Redlich is the CEO and founder of Merricks Capital. Adrian and I cover a wide range of fascinating topics, from Merricks Capital’s recent acquisition by Regal Partners to their strategic approach to lending against hard assets. We dive deep into sectors like commercial real estate, agriculture, and power, and to discuss how Merricks Capital’s flexible lending model has helped them capture high returns, with their Agricultural Credit Fund delivering up to 11% and the Partners Fund generating 9.5%.Adrian also shares his views on the importance of counter-cyclical lending, the impact of interest rate changes, and the...
2024-10-085h 53
The Rate Of Change#33 - Michael Frazis | Where to for Big Tech, Chip Makers, A.I. & Life Sciences? Michael Frazis is the Managing Director and Portfolio Manager of Frazis Capital Partners, which has a focus on companies with explosive growth potential predominately in the Tech and life sciences space.Michael and I discuss a variety of fascinating topics, from his fund’s 80% performance this year (as of time of recording) to his thoughts on navigating the tech and biotech sectors. We dive into key stocks like Nvidia, DroneShield, Clarity Pharmaceuticals, Mercado Libre, Newbank and TransMedics.We also explore Michael’s AI-backed risk management tool, which has been integral in lock...
2024-09-109h 14
The Rate Of Change#32 - Bo Zhuang | Forging A Next-Gen Family Office Whilst Honouring LegacyBo Zhuang is one of the three Managing Partners at Initium within the Hayson & Huang Family Office. You may be thinking the name Hayson within the circles of property development rings a bell. You would be right, as the Hayson Group, founded by Ian Hayson, most notably was the first private developer to recognizse the potential of Darling Harbour. Their Darling Harbour development has been a catalyst for the transformation of the inner city and was formally opened by the Queen of England!Other high-profile projects include Sky Garden in Sydney’s Pitt Street Mall, th...
2024-09-035h 08
The Rate Of Change#31 - Melissa Hosgood | Funding the Entire Lifecycle of Real Estate ProjectsMelissa Hosgood is the Managing Director, Portfolio Manager, and Founder of Labassa Capital. Labassa Capital is an Australian real estate credit fund, target return of 9%, annualized real return of 12.46%, with a 0.5% management fee. What I found interesting was Labassa's unique approach to funding projects. In particular they fund the entire lifecycle of real estate projects, from land subdivision to the rise of distribution centers and versatile business parks.Melissa delves into the intricacies of the credit fund, discussing its boutique-level operations and focus on high-potential property asset classes. We explore the evolving landscape of distribution...
2024-08-051h 20
The Rate Of Change#30 - James McDonald | Unpacking Titanium, Healthcare, Japan, Resources & MoreJames McDonald is one of the portfolio managers for Pengana’s High Conviction Equities Fund. James brings extensive experience from his time at Hunter Hall and Bankers Trust and shares his journey of building and managing the High Conviction Fund, which was founded in 2014 and now manages roughly $58 million as of the time of recording.The fund, as of 28th June 2024, has an ethical framework and has returned on average 24.7% since inception, 14.4% over 5 years, 8.6% over 3 years, 33.6% over 2 years, and 55.8% for the past year. As a high conviction strategy, the fund holds roughly 20 companies at a time. The be...
2024-07-083h 46
The Rate Of Change#29 - Russel Pillemer | Innovative Future of Global Private CreditRussell Pillemer is the CEO of Pengana Capital Group. Russell brings extensive experience from his time as an investment banker at Goldman Sachs and shares his journey of founding and growing Pengana Capital Group, which now manages $3.5 billion across 12 strategies, ranging from domestic and global equities to domestic and global private credit.We delve into the how to of the strategies, in particularly their innovative approach to listed private credit and trying to solve the problem of having unlisted assets inside a Listed Investment Company or Trust vehicle trading at a discount to net asset value due...
2024-05-311h 04
The Rate Of Change#28 - Andrew Mitchell | Outlook for Aussie & Global Growth Small CapsAndrew Mitchell is one of the founders at Ophir Asset Management. Andrew alongside Steven Ng and other colleagues manage four funds. Ophir has a fundamental, bottom up research approach aimed at identifying businesses domestically and internationally with the ability to meaningfully grow and compound earnings overtime. To put it another way, they want to find new companies before they end up in Vogue.For me I really enjoyed delving into the process of the how, in particular how they go about trying to be the first to discover a new business before it gets in...
2024-05-1245 min
The Rate Of Change#27 - Sunny Bangia | Global Equities, Tech, US Housing, India & MoreSunny Bangia is the Global Portfolio Manager at Blackwattle Investment Partners about the outlook for Global equities, U.S. housing, semiconductors, emerging markets like India & Brazil, advancements in AI and Memory, Machine Learning, and the economic shifts in China.For me I really enjoyed delving into the topic of Memory with Sunny. As the tech world buzzes with developments in AI and machine learning, and with companies like NVIDIA at the forefront, it prompts us to ask: What supports this growth?Join us as Sunny unpacks the critical role memory plays...
2024-04-161h 49
The Rate Of Change#26 - Vince Pezzullo | Outlook for Aussie Equities, Gearing & Activist OwnershipVince Pezzullo is the Head of Australian Equities at Perpetual, to discuss the outlook for Aussie equities, the intricacies of gearing, and the impact of activist ownership investing.Perpetual Group, founded in 1886, is one of Australia's oldest asset management firms. The Australian equities division of the business manages roughly $12 billion. In this episode, we delve into the Australian Share Fund, the Geared Australian Share Fund, which mirrors the previous Aussie Shares fund with a 2-to-1 leverage, and their Strategic Capital Fund, launched towards the end of last year.One of the...
2024-04-051h 17
The Rate Of Change#25 - Jason Edwards | Have Your Cake & Eat It Too via Venture DebtJason Edwards is the CEO of January Capital, about venture debt and their unique database Alternatives.pe, which is used by 80% of Southeast Asia VC firms like Sequoia, Tiger Global, and more. If you’re familiar with private lending, like many Australians, and you have often wondered how to both generate income from lending to, say, $10 to $15 million high-growth B2B SaaS companies and “ALSO” participate in the potential upside, then I think you’re really going to enjoy Jason breaking down venture debt and their fund's strategy.If you’re not familiar with venture debt, it’s...
2024-03-2656 min
The Rate Of Change#24 - Cameron Brownjohn | Renewable Energy, Batteries, Childcare, NDIS & Private EquityCameron Brownjohn is the CEO at Federation Asset Management about investing in mid-tier Australian private equity. If you’re an investor familiar with private equity or this is your first time exploring this asset class, then I think you are really going to benefit from Cameron’s experience and insights.Federation has roughly $2 billion of funds under management, in which institutional investors such as Blackrock, KKR, Goldman Sachs, Suncorp, Hesta, family offices and more, comprise of roughly 85%, whilst the remaining 15% is wealth management investors. Cameron unpacks some of their investments such as they have Australia’s 3rd...
2024-03-181h 05
The Rate Of Change#23 - James Williamson | Has the Tide Turned for Value Investing?James Williamson is the Chief Investment Officer at Wentworth Williamson, about their equity fund and their stable income fund. The equity fund is a "go-anywhere" strategy, investing in deep-value Australian listed companies with $60 million of funds under management. Meanwhile, their stable income fund, which is a private credit fund, targets a return of 5% above the RBA cash rate and has $100 million of funds under management.If you are a value investor, then you may have had a tough number of years investing in current markets. On this point, I think you are really going to...
2024-03-131h 37
The Rate Of Change#22 - Todd Warren | Outlook For Global Miners, Lithium, Uranium, Copper, NatGas, Coal & CobaltTodd Warren is a Partner and Head of Research for Tribeca Investment Partners. Tribeca is a global investment manager with multiple strategies across equities, credit, carbon, and Global Natural Resources. Join us as Todd unpacks strategies in which he specializes. These include their Listed Resources fund TGF, their unlisted main fund The Tribeca Global Natural Resources strategy, the 2050 Strategy, the Kimberley Syndicate, and The Nuclear Energy Opportunities Strategy, which is currently having its time in the sun averaging 40.96% over 5 years, 34.9% over 3 years, 35% over 1 year, and averaging 31.43% the past 6 months (As of time of recording).For...
2024-03-051h 39
The Rate Of Change#21 - Chris Mauss | Buying & Building Industry Leading Private BusinessesChris Mauss is the Managing Director for Partners Groups Paris based private equity arm and we discuss everything about European investments, opportunities & outlook.If you’re interested in learning how to generate strong returns, whilst investing and managing over $150 billion USD in private equity, then I think you’re going to really enjoy this conversation with Chris.Chris outlines Partners groups investing universe, which is across four main areas. Private equity, private debt, private real estate, and private infrastructure.What I really enjoyed was discussing Chris’s area o...
2024-02-261h 01
The Rate Of Change#20 - John Forwood | Outlook for Junior Miners, Uranium, Copper & Natural GasJohn Forwood is the the Chief Investment Officer at Lowell Resources Management. Lowell Resources Management is a listed investment Trust, which invests in Junior Global and Domestic mining companies across all commodities. They currently manage AUD $50million funds under management, allocate roughly 13% to new pre-ipo opportunities and the remaining in listed miners across Uranium, Copper, Natural Gas, Oil, Nickel, Lithium and a large percentage allocation in Gold.As of recording the Lowell Resources Management Fund has averaged over 12 months 14.1% p.a, 3 years 8.4% pa, 5 years 27.9% pa and over 10 years 14.2% pa.So, before...
2024-02-191h 02
The Rate Of Change#19 - Hugh Selby-Smith | Art Of Smoothing Returns In Global EquitiesHugh Selby-Smith is the Co-Chief Investment Officer at Talaria Capital. Talaria Capital is a fundamental, bottom-up, value manager with a unique implementation process via options. They run a single global, ex-Australia investment strategy with 25 to 35 companies in the portfolio across developed markets. Talaria oversees roughly $2.1billion in funds under management.For me I enjoyed hearing Hugh break down their options strategy, which creates income from option premiums, diversifies returns but most interesting was the ability to smooth returns in volatile markets. In particular, on average they capture 71% of an upside move and -34% less of...
2024-02-121h 13
The Rate Of Change#18 - Dan Winter & Rowan Grant | Investing In Private Growth Tech Businesses Dan Winter and Rowan Grant are the founders and portfolio managers at Arbor Capital. Arbor Capital is an investment firm focused on venture capital and growth equity investing within the technology sector. They work with family offices and High Net Worth Individuals who are seeking to invest patient, long-term capital in high-growth private businesses.Dan and Rowan share their journeys from entrepreneurs to working for family offices, culminating in the establishment of their first fund in 2016. At the time of recording, the first fund had achieved a gross investment IRR of above 30% and a multiple on deployed...
2024-01-2456 min
The Rate Of ChangeAndrew Mitchell | What's The 2024 Outlook For Small Cap Equities?In today’s ROCast Murdoch speaks with Andrew Mitchell, one of the founders and portfolio managers at Ophir Asset Management.Andrew alongside Steven Ng and other colleagues manage four funds. Ophir has a fundamental, bottom up research approach aimed at identifying businesses domestically and internationally with the ability to meaningfully grow and compound earnings overtime. To put it another way, they want to find new companies before they end up in Vogue.Andrew unpacks their investment philosophy, what they look for when searching for new businesses and discusses their three funds and whats been driving pe...
2024-01-0849 min
The Rate Of Change#17 - Tim Carleton | Has Christmas Come Early For Aussie Equities?Tim Carleton is the Chief Investment Officer at AUSCAP Asset Management. Tim, alongside his colleagues Will Mumford and Gavin Rogers, manages two funds under the AUSCAP banner. Both of these funds target solid absolute risk-adjusted returns by investing in companies that generate strong cash flows and are trading at attractive prices. Firstly, the Auscap Long Short Australian Equities Fund, which has returned an average of 14.5% since its inception in 2012, 11% on average over 5 years, 12.4% over 3 years, and 1.5% over the past 12 months, with a 5.8% return in the past month. Secondly, they have just launched the Auscap Ex-20 Australian Equities Fund at...
2023-12-181h 07
The Rate Of Change#16 - Ian Macoun | How to Build, Support & Manage Top-Tier Fund ManagersIan Macoun is the Managing Director of Pinnacle Investment Management Group (PNI.ASX). Pinnacle is a growing multi boutique, which provides non-investment, funds management services to investment managers known as affiliates. Currently they oversee $90 billion worth of FUM across 15 affiliate investment firms in various asset classes. Along with holding equity interests in their Affiliates, Pinnacle provides seed funding, global institutional and retail distribution, and industrial grade middle office and infrastructure services. This structure enables their affiliate investment managers to focus on what they do best, whilst Pinnacle takes care of the rest.For me I really enjoyed...
2023-12-101h 03
The Rate Of Change#15 - Joss Engebretsen | Unpacking NDIS & Specialist Disability AccommodationJoss Engebretsen is the Portfolio Manager at Barwon Investment Partners for the Barwon Disability Accommodation Fund. If you have any loved ones with Special Disability Accommodation needs or you have been following the SDA or NDIS in the news, then I think you are really going benefit from the insights Joss shares on these areas.For people unfamiliar with these schemes. Joss unpacks what exactly is the National Disability Insurance Scheme & Specialist Disability Accommodation. Joss shares his thoughts on what improvements should been implemented in the scheme’s, what risks to avoid and how they are investing in...
2023-12-021h 03
The Rate Of Change#14 - Luke Cummings | Harvesting Absolute Returns Via Merger ArbitrageLuke Cummings is the Co-Founder, Chief Investment Officer & Managing Director of Harvest Lane Asset Management. If you enjoy reading about the latest mergers and Acquisitions in the AFR/News and always wondered what is the best way to make money out of the story of the day, then I think you are really going to enjoy this conversation with Luke.Harvest lane is an Absolute Return Fund with a Merger Arbitrage trading strategy. The fund seeks to profit from M&A activity targeting pricing inefficiencies. Luke discusses what a good opportunity looks like, how they manage risk...
2023-11-251h 11
The Rate Of Change#13 - Dr David Allen | High Alpha Without High ConcentrationDr David Allen is the Co-Head of Research Plato Investment Managements, Head of Long/Short Strategies and Portfolio Manager of the Plato Global Alpha Fund.For keen rugby fans out there, you may be familiar with David as he was a professional Rugby Union player and is currently the President of Eastern Suburbs Rugby Union Club.For me I enjoyed hearing David explain their unique structure and how the fund achieves high alpha returns without having a highly concentrated portfolio. Combined with the Red flags process and the ability to go long short the fund...
2023-10-1140 min
The Rate Of Change#12 - Michael Frazis | Unpacking Global Growth, Tech & Life SciencesMichael Frazis is the Managing Director and Portfolio Manager of Frazis Capital Partners.Keen listeners will remember Michael from last year and we wanted to have him back on to see how the fund has been doing over the past year. Michael also unpacks what he is looking at in the Tech and biotech space as well as discussing a new AI backed risk management tool he has built to help in lock in future profits.I really enjoyed this conversation and I encourage you to listeners to the disclaimer at the end of this...
2023-09-181h 00
The Rate Of Change#11 - Bob Sahota | Navigating Default Cycles & Why Revolution Seems Un-FazedBob Sahota is the Managing Director & CIO of Revolution Asset Management. Revolution provides wholesale investors access to a diversified portfolio of Australian and New Zealand Corporate Loans and Asset-Backed Securities.The Fund currently has a total fund size of A$1,893.7m. The Underlying Fund holds a total of 47 loans as at 31 July 2023, with an average expected life of the portfolio being 1.3 years, Revolution seeks to outperform the RBA Cash Rate by 4 to 5 %p.a. the portfolio yield is 10.1% with a credit spread of the portfolio above BBSW of 584 basis points (bps). The average credit rating of the...
2023-08-2957 min
The Rate Of Change#10 - Andrew Lockhart | Navigating Private Credit With Australia's Largest Private LenderAndrew Lockhart is the Managing Director of Metrics Credit Partners. Metrics Credit partners are a leading Australian non-bank corporate lender and alternative asset manager specialising in fixed income, private credit, equity and capital markets.Metrics currently manages roughly $14billion and gives investors access to these strategies via a range of unlisted and listed managed funds. With this approach, the flagship Metrics Direct Income Fund targets a return of RBA cash rate plus 3.25% and as of the 28th of July the fund has returned 7.93% for the past year and has averaged 6.77% since inception.Andrew gives insights...
2023-07-2852 min
The Rate Of Change#9 - Kevin Bertoli | Creating Long Term Wealth Via Global GrowthKevin Bertoli is the Co-Portfolio Manager of PM Capital. PM Capital was founded in 1998 by CIO & Chairman Paul Moore, it’s goal is to build long term wealth by investing in global markets with patience and conviction. I would say PM Capital embraces the true definition of a go anywhere strategy and I quite like they have the patience to avoid FOMO rallies and wait for the strongest company in the space to survive a sector pullback before investing at favourable valuations for the long term.With this approach, PM Capital has consistently beat the market average si...
2023-06-191h 03
The Rate Of Change#8 - Grant Hackett OAM | From Diving Board to the Boardroom: An Inspirational TaleGrant Hackett OAM is an Australian Icon and the CEO of Generation Development Group (GDG). Prior to his corporate career, Grant was a multiple Olympic champion representing Australia in swimming and has held numerous world records in the early 2000's.We dive into detail about Grants formative years, what lessons of life he has carried over from his Olympic career into the world of financial markets, the challenges he has faced and how he overcame them.Grant discusses GDG's core businesses:Firstly, Generation life, which offers clients and advisors access to two key services...
2023-05-2450 min
The Rate Of Change#7 - Cullen Gunn | Take A Dive Into Water InvestingCullen Gunn is the CEO & a Director of Kilter Rural to discuss investing in water and water rights. We dive into detail about all things water. Cullen covers how they go about investing in water, what are the main factors that impact water markets and how to think about investing in water as an asset class.Kilter Rural operates 4 funds in Agriculture and the Water space, but today we are talking to Cullen about investing in water and water rights. In Particular the Kilter Water Fund, which has an annualised return of 14.58% since inception and the Murray...
2023-05-111h 01
The Rate Of Change#6 - Andrew Killesteyn | Sunshine Airport, Wind Farms & Other Mid-Tier Aussie InfrastructureAndrew Killesteyn is the portfolio manager at Palisade Investment Partners to discuss the Infrastructure Fund and Infrastructure Trust.Andrew defines the infrastructure universe, discusses why they look at particular Australian mid market infrastructure assets and highlights the importance of these assets in the community.The fund's IRR on average is 9.8% over 1 year, 8.5% over 3 years, 9.1% over 5 years and 9.0% since inception.We dive into most of the assets such as airports, wind farms, gas pipelines, ports and I enjoyed most of all the discussion on the Sunshine coast Airport.We discuss everything from...
2023-03-0852 min
The Rate Of Change#5 - Romano Sala Tenna | Breaking The Mould In The Australian Share MarketRomano Sala Tenna is one of the founders and portfolio managers at Katana Asset Management to discuss their long-only, listed ASX investment strategy.Katana’s approach was setup to challenge artificially imposed constraints on managing money. They achieve this by not being limited to index weightings, sectors, thematic or company sizes, whilst being comfortable to remain weighted heavily in cash for extended periods until the right opportunities arise.The fund's IRR on average is 15.41% over 1 year, 14.78% over 3 years, 12.36% over 5 years and 10.13% since inception.Romano's investment style is predominately bottom-up investing with technical overlay, wh...
2023-02-2737 min
The Rate Of Change#4 - Nick Thomson | ChatGPT & High Conviction Global Growth Nick Thomson is the Portfolio Manager at Lakehouse Capital Global Growth Fund.Lakehouse Global Growth is an Australian based fund manager with a high conviction approach. The fund has a long term investing strategy targeting asymmetric outcomes in Mid to Large cap global growth companies, whilst holding 20-30 companies at a time.The strategy has averaged 13.6% in the past 5 years, up 10.9% in the past month, whilst being down -15.6% for the year to date.We dive into some interesting topics, Nick gives his thoughts on where they think markets are going in this...
2023-02-1658 min
The Rate Of Change#3 - Joe Millward | Growth purpose lending & the impact of rising rates on credit marketsJoe Millward is a founding partner and portfolio manager for Epsilon Direct Lending. Joe joins us to discuss the origins and nuances of the strategy, the corporate lending environment, and the impact of rising rates on private credit markets.The fund is an Australian based, non-bank corporate lender and private credit manager, which specialises in providing loans of AUD $10m - $50m to Australian mid-market corporates for growth purposes. Epsilon targets an income return of 8.5% p.a. and as of 31st of August the monthly return was 86 basis points. The fund has a 90-day duration, current liquidity...
2022-09-2150 min
The Rate Of Change#2 - Michael Frazis | Finding growth in global technology and life sciencesMichael Frazis is the founder and portfolio manager at Frazis Capital Partners. Frazis Capital Partners is an Australian based fund manager that specialises in global growth investments, technology and life sciences.Murdoch discusses with Michael their two strategies. The main Frazis fund, which invests in listed fast growing global growth companies and secondly the Frazis Venture Fund, which invests in emerging, unlisted, early stage or pre-IPO growth opportunities also in technology and the life sciences space.In this ROCast we explore the dramatic volatility we have seen recently in global growth assets, the impact it...
2022-08-1745 min
The Rate Of Change#1 - Josh Manning | Impact Of Rising Rates On Australian Credit MarketsJosh Manning is the founder and portfolio manager at Manning Asset Management to discuss Australian credit markets, rising interest rates and the impact on their income generating fund.Josh discusses their all-weather strategy approach that targets an interest rate and income return within the fund of 5% above the RBA cash Rate. This fund is income generating, pays distributions monthly and has consistently delivered 5% p.a. in income over the past 6 years. The Fund delivered +0.55% in May, 6.15% over 12 months and 6.23% annualised since inception.Josh started his journey in financial markets in 2007 and has since garnered his...
2022-08-0930 min