Private credit markets are under growing stress, fuelling fears of a financial crisis that could spill over to the real economy. But a closer look at the evidence suggests predictions of a meltdown are running well ahead of the facts.
A changing equity market structure is emerging, driven by changing investor behaviour and advances in AI - and global small-cap equities sit at the centre of this shift, as one of the last frontiers of inefficiency in public markets.
Headlines highlight the growing demand for power generation, largely driven by digitalisation, AI, robotics, and automation. The undersupply of infrastructure needed to support it provides a real market opportunity for investors.
When considering the ethics of our actions, we often rely on two approaches - considering the outcomes and consequences, and whether the action accords with rules and norms. The effectiveness of a third approach is the focus of this research paper.
Markets can remain stable at the index level even as risk becomes more uneven, more concentrated, and more difficult to hedge. This week's signals suggest that is now the dominant dynamic.
Led by behavioural finance expert, Herman Brodie, the Behavioural Finance - Investment Decision-Making course will help you identify, analyse and evaluate the principal human preferences that influence decision-making in situations of uncertainty, so you can recognise and identify these preferences in others, to improve investment decision-making.
Private debt has grown in popularity as an alternative source of debt financing, with the asset class tripling in size since 2008. This self-paced, two-hour online short course equips you with the expertise to navigate private debt investment confidently across diverse market conditions.
There is angst in the air about the US dollar's once and future global role. It is not hard to hear echoes of ancient history in current anxiety around the dollar.
Behavioural analysis enables a deeper insight into fund performance and the identification of highly skilled managers capable of generating consistent investment alpha.
After more than two decades of an ever-present central bank demand backstop, we're now entering a global fixed income market devoid of price insensitive demand, challenging the risk/return profile going forward.
Post-GFC, banks trimmed corporate credit risk from their balance sheets, creating a direct lending boom. We are now in the early innings of Asset Backed Finance filling a similar capital void.
If you had asked me six months ago about the risks of another massive financial crisis in the US, I would have said it is always possible, but much more likely elsewhere. I seem to have underestimated the deregulatory zeal of Trump's administration.
If asked today whether a high-quality unlisted property fund would outperform the S&P 500 over the next 10 years, most investment advisers would, without hesitation, back the S&P 500. However, they may be wrong.
Liquid alternatives promise two things - diversification from equities and compelling standalone returns. Yet most fall short. Investors need liquid alternatives to be bold and flexible.
The first phase of the AI super cycle was driven by a narrow group of US companies, but the world’s reliance and dependence on US technology and defence has shifted. A new chapter of technological power has begun beyond US borders.
Markets are currently pricing stability. But the underlying system remains constrained and market structure is becoming more fragile. The gap between pricing and reality is where risk tends to emerge.
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