Fixated: The Fixed Income Podcast

Learn some useful tips and lessons learned for your bond portfolio from Anthony Kirkham from Western Asset Management, a Franklin Templeton company. Diversification is a key reason investors turn to fixed income, but it’s important to think about liquidity and yield as well. Rising interest rates have changed the outlook and prospects for the asset class. Anthony talks big picture as well as some of the specific investments they favour.

Diversity & Liquidity is the second in a series of four Fixed Income Building Blocks podcasts that aim to build your knowledge and deepen your understanding of the asset class. We'll be talking to portfolio managers and industry experts to lift the lid on fixed income in an easy to understand format, suitable for any skill level.

Asset backed securities (ABS), including residential mortgage backed securities (RMBS), provide relatively high, floating rate monthly income. Learn about the asset class, the risks and it’s many protections as well as Thinktank’s two funds in this informative podcast.

Career, life, decision making and figuring out the ‘why’.  In celebration of International Women’s Day we sit down with Amy Xie Patrick from Pendal Group.

Have you ever wondered how a portfolio manager invests? In this podcast we unpack yield and risk with Andrew Canobi from Franklin Templeton. He explains the Franklin Templeton investment process and gives some unique insights into yield relationships between various securities. For example, Australian major bank senior unsecured, subordinated Tier 2 securities and hybrid Tier 1 securities.

Yield & Risk is the first in a series of four Fixed Income Building Blocks podcasts that aim to build your knowledge and deepen your understanding of the asset class. We'll be talking to portfolio managers and industry experts to lift the lid on fixed income in an easy to understand format, suitable for any skill level.

Ever wonder why a company decides to issue fixed income securities? In this podcast we talk about the decision making process and issuance of Asset Backed Securities (ABS) with George Whittle, Head of Funding at Brighte. We consider the ABS structure, investor appetite, what happens when deals are oversubscribed and tips for companies thinking about issuing debt securities.

This week we talk about high yield and emerging market bonds with Amy Xie Patrick, Head of Income Strategies at Pendal Group. We take a deep dive into these sectors, why they are attractive to investors, the risks associated with them, and favoured emerging market countries. Also discussed are the potential impact of a US recession and change of government, the Chinese economy, and the energy transition.

With increased market volatility, investors are looking for more certainty. We speak to Andrew Lockhart, Managing Partner at Metrics Credit Partners about the benefits of private debt and the role it can play in your portfolio.

Metrics Credit Partners Pty Ltd ABN 27 159 646 996 AFSL 416 146 (Metrics) makes no representation or warranty with respect to the accuracy, completeness or currency of the content. The content is for educational purposes only and does not constitute financial advice. Independent advice should be obtained from an Australian financial services licensee before making investment decisions. To the extent permitted by law, Metrics excludes all liability for any loss or damage arising in any way due to or in connection with the publication of this podcast, including by way of negligence.

In honour of International Women’s Day, this week we sit down with three amazing women in finance to talk about their careers, how they manage a healthy work-life balance, and of course - their secrets to success. 

Our first guest is Camilla Love, Director at Perennial Investment Management and Founder of F3 (Future Females in Finance), followed by Kellie Wood, Deputy Head of Fixed Income at Schroders, and Amy Clements, an Investment Specialist at Insight Investment. 

Dr Christian Baylis returns as our first guest for the year to discuss inflation and the strategies he’s using for Fortlake’s award winning funds. We also talk about the differences in the US and Australian yield curves, negative real interest rates, the economic cycle and the risks that could influence the market.

Our first guest for 2022 is Dr Christian Baylis who earned his Ph.D in inflation modelling and forecasting. We discuss inflation expectations, central bank policies and market volatility amidst the recovery from the COVID-19 pandemic. We also talk about Fortlake fund strategies, performance and the firm’s success with $1bn funds under management in 14 months since inception and an international award for ‘Top performing Asia Pacific Fixed Income Strategy’ for the Sigma Opportunities Fund.

This week we sit down with Mark Bayley, Portfolio Manager at boutique firm Kapstream Capital, which has over A$16 billion in funds under management. We discuss what is driving inflation, central banks, and a credit outlook for 2022. We also talk about who Kapstream are, and learn more about their investment strategies.

This week we talk to Robert Tipp all the way from New York. Robert is Managing Director, Chief Investment Strategist and Head of Global Bonds for PGIM Fixed Income, a top 10 global asset manager with USD$1.5 trillion in funds under management. We discuss whether developed countries with massive debt burdens are heading toward a Japanese-style economy, what happens when the brakes are applied to government stimulus, and if Evergrande and the Chinese property market are still a concern. We also get his views on where he sees value in the market at the moment, why we should keep an open mind on inflation and growth in the post-COVID world, and the economic accomplishments of the Biden administration.

This week we sit down with Chris Black, Managing Director and Co-Portfolio Manager of Alexander Funds Management. We get his views on positioning fixed income portfolios in the current low interest rate climate, his expectations for inflation, the property market and investing in warehouses. We also learn more about the types of funds available at Alexander Funds Management, who they are suitable for, and their performance.

This week we talk to Warren Hogan, Managing Director of EQ Economics, to get his take on monetary policy and inflation. We also discuss interest rates, reopening the economy and which states have the best prospects for recovery in the near future.

This week we talk to Dr. Kylie-Anne Richards, tenured Lecturer at University of Technology Sydney (UTS), and Executive Director and Chair of ESG at Fortlake Asset Management. We discuss the findings of her most recent research paper on transition risks and sovereign bond yields, which is a collaboration between UTS, Fortlake and Ardea who have teamed up for a greater, greener future.

“CIP Asset Management might well be one of the largest, most established Australian investment management businesses your listeners may have never heard of.”

This week we sit down with Victor Rodriguez, Head of Fixed Income at CIP Asset Management, part of the funds management division of Challenger. We discuss its background and 15+ year history, its $16bn of funds under management across public and private lending markets, and where they see value in the market right now. We take a deep dive into the Credit Income Fund and Multi-Sector Private Lending Fund, and how retail investors can get involved.

This week we sit down with Chris Joye to discuss internal migration and the impact of working from home on housing markets, the possibility of a cash rate increase, iron ore prices and our relationship with China. Chris discloses where he sees opportunities for investors and gives us some insight into the Coolabah Long-Short Absolute Return Credit Fund.

This week we talk to Bill Haughey, about Environmental, Social and Governance (ESG) fundamentals, and what the market is like in Australia for ESG. We also discuss Public-Private Partnerships (PPP), infrastructure and the new, $2.2bn Royal Adelaide Hospital PPP and its green and social components.

This week we speak with Jason Falinski MP, Member for Mackellar about the Federal Government inquiry into development of the Australian Retail Corporate Bond Market. We discuss why the inquiry came about, how regulation has impacted personal investors, Atlassian’s experience, and changes the committee are looking to make.

This week’s guest is Jay Sivapalan, Head of Australian Fixed Interest at Janus Henderson, who talks to us about his role as lead portfolio manager of the Tactical Income Fund (Chi-X: TACT), his strategic approach to investing, and current market trends. We discuss the direction of interest rates, why near-term inflation is transient, and how financial markets are recovering from the COVID-19 pandemic.

This week we sit down with Darren Langer, Co-Head of Australian Fixed Income at Yarra Capital Management to discuss the merger of Nikko Asset Management and his personal views of Australian cash rate rises. We talk about why he considers investors are under weight fixed income, and the proliferation of private debt, and lift the lid on three of Yarra’s funds: the Australian Bond Fund, Enhanced Income Fund and Absolute Credit Fund.

This week we talk to Gaby Rosenberg, the millennial entrepreneur co-founder of Blossom, a brand new, app-based FinTech platform designed to introduce younger generations to the fixed income asset class. We discuss how the Blossom app came about, its focus on female empowerment, and its environmental and ethical decisions for funds under management. Gaby tells us how she got started investing, why she took aim at fixed income instead of cryptocurrency, and gives us her tips for younger investors.

This week we lift the lid on credit with Teiki Benveniste, Head of Ares Australia Management. We talk in depth about inflation, credit quality, investment-grade and sub investment-grade credit ratings, default probabilities and what the market has done in the last 12 months. Teiki also fills us in on the Ares Global Credit Income Fund, including its asset allocation and performance since its inception in May 2020.

This week we sit down with Cashwerkz (ASX: CWZ) CEO Jon Lechte to get the inside scoop on the $14 million capital raising effort to acquire a 25% stake in Tactical Global Management (TGM), and the reasons behind the decision to rebrand Cashwerkz as Income Asset Management Group. We also look into how the remainder of the funds raised will benefit fund incubator FundIncome and Fortlake Asset Management, and the importance of treasury management services to their ongoing strategy.

This week we delve into the world of private debt with Andrew Lockhart, Managing Partner of Metrics Credit Partners. We look at the basics of the private debt asset class, it’s benefits for investors, the risks associated with it, the size of the Australian market and how private investors can diversify their portfolios with it. Andrew discusses Metrics Credit Partners’ involvement in this space through their Master Income Trust (ASX: MXT), Income Opportunities Trust (ASX: MOT) and Direct Income Fund.

This week we talk to Nicholas Bishop (Director of Bishop & Fang Capital Advisory) about Interest Rates, Decentralised Finance (DeFi) and Inflation. We discuss if there is a relationship between Australian and US inflation, and whether Biden’s stimulus will impact our economy. We also ask whether equities are a good inflation hedge, and examine inflation linked bond performance. Nicholas gives us his personal experience with DeFi, cryptocurrency, and the future of Lygon's blockchain technology in the Australian fixed income market. 

This week we talk to Barry Ziegler (Head of Fixed Income at Bell Potter Securities) about listed hybrids. We talk about upcoming call dates, expected new issues, where to find value, the impact of low interest rates and term funding facility, and more on Fixated: The Fixed Income Podcast with Elizabeth Moran. 

In this episode of Fixated: The Fixed Income News Podcast - Justin Tyler (Director of Daintree Capital) sits down with Elizabeth Moran to discuss his views on inflation and structuring a portfolio defensively. 

In this episode of Fixated: The Fixed Income News Podcast - Dr Laura Ryan (Head of Research at Ardea Investment Management) sits down with Elizabeth Moran to discuss key aspects of her recent paper - Do bonds still diversify equities? They also discuss Ardea’s Real Outcome Fund available to retail investors.

In this episode of Fixated: The Fixed Income News Podcast - Samy Muaddi (Lead Manager of the Emerging Markets Corporate Bond Strategy for T. Rowe Price) sits down with Elizabeth Moran to discuss emerging markets, and how Biden's stimulus and commitment to climate change might impact the US and Australian markets.

In this episode of Fixated: The Fixed Income News Podcast - Samuel Morris (Senior Investment Specialist at Fidante Partners) sits down with Elizabeth Moran (Editorial Director of Fixed Income News Australia) to discuss the state of the fixed income market, Government bonds and inflation. 

In the third episode of Fixated: The Fixed Income News Podcast - Bond Income Executive Director of Fixed Income Kyle Lambert sits down with Fixed Income News Australia Editorial Director Elizabeth Moran to discuss corporate bonds and recent trends.

In the second episode of Fixated: The Fixed Income News Podcast - Bank of China Head of Fixed Income Mark Todd sits down with Fixed Income News Australia Editorial Director Elizabeth Moran to discuss the current fixed income landscape.

Australian Bond Exchange Senior Business Development Executive Michael Cori sits down with Fixed Income News Australia Editorial Director Elizabeth Moran to discuss the current state of the fixed income market.