This lecture argues that a well-diversified portfolio of private debt, constructed and managed well, provides an investment portfolio with greater diversification and downside protection. What's your philosophy?

The unique characteristics of private debt make it ideal for any portfolio, fitting in either the defensive or growth component of a portfolio – or even both at the same time.

In these unsettled VUCA conditions, private debt can offer short duration with a focus on capital preservation, a silver lining for investors in the form of consistent, risk-adjusted returns and income.

If the question is how to achieve an attractive risk-adjusted return through all economic environments, then private debt is the answer. The future ain’t what it used to be - except for private debt.

A great attack scores points, but defence wins premierships. The same principal applies to investment portfolios. By making private debt the centre of a defensive strategy, investors can win in all conditions.

Quantitative easing has inflated the price and risk of asset classes. Private debt prices in this risk and offers investors the capital protection they deserve.

Private debt essential to modern investment portfolios. If the end objective is an attractive risk-adjusted return, then private debt is the means to get there.

With the official cash rate near zero, it's time to head back to the drawing board to find a more consistent source of income. Private debt provides a compelling alternative source of income in a portfolio.

With higher returns than term deposits, and less risk than hybrids and equities, corporate loans add up to an attractive alternative in a potentially rising interest rates environment.