We view private credit as a potentially valuable component of a diversified portfolio for investors seeking income and long-term capital appreciation. However, it is not a substitute for liquidity, nor is it risk-free. While the asset class can offer attractive income and portfolio diversification benefits, investors need to tread warily given broader risk dynamics and to fully understand said risks vs return prospects. Recent developments have brought private credit back into focus....

It is understandable that households with a mortgage would feel frustrated to see interest rates move higher just as inflation appeared to be easing. The Reserve Bank of Australia’s (RBA) recent decision to lift rates surprised some observers. From the RBA’s perspective, and for many market watchers, the logic is straightforward. Understanding that logic helps investors frame how portfolios should be positioned from here. Importantly, while higher rates pressure borrowers, they also increase...

Markets have a habit of creating confidence just as risks start to shift. 2025 was a good example. Inflation looked beaten. Rate cuts arrived. Asset prices responded accordingly. And yet, by year-end, investors were once again grappling with uncertainty around inflation, policy direction and global stability. As CIO at Mutual Limited, my role is to help translate market complexity into clear, practical guidance for investment team, and where helpful, our clients. For investors generally, on