Aura Group

Markets sit at elevated levels, fuelled by optimism around artificial intelligence and the promise of lasting productivity gains. Yet beneath the excitement lies a complex mix of valuations, momentum, and risk – raising important questions about how investors can stay positioned if sentiment shifts.

Markets are expensive – observations and implications

There is a conga line of analysts, fund managers and commentators pointing out the extremes many traditional or conventional measures of value have now reached.  From price-to-earnings, price-to-book, and market-cap-to-Gross Domestic Product (GDP) to earnings and dividend yields, the U.S. S&P 500 is in rarified air when it comes to the price investors are willing to pay for exposure to future growth. continue…

by Roger Montgomery Posted in Aura Group, Digital Asset Funds Management, Market commentary, Market Valuation.

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In this week’s video insight I take a closer look at record stock markets, what’s driving them to new highs, and what that might mean for investors. The S&P 500 is trading at historic levels on measures such as price-to-earnings and price-to-book ratios, with much of the enthusiasm powered by the artificial intelligence (AI) boom. Companies are spending billions on cloud, semiconductors and infrastructure, while revenues are still catching up. It’s an exciting period of innovation, but also one where history reminds us markets often price in future growth well before it materialises. continue…

by Roger Montgomery Posted in Aura Group, Digital Asset Funds Management, Market commentary, Market Valuation, Video Insights.

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I recently read an interesting post on Substack about the state of the market. However, there was one paragraph whose significance might have been missed, even by those who subscribe to the author’s musings.  

Here’s the paragraph in question, followed by what I hope will prove a useful explanation.

The paragraph was titled “No Equity Risk Premium.”

“Meanwhile the macro-middle scenario that has prevailed in 2025 has helped stocks push higher, and with still elevated bond yields that has squeezed the forward-looking “prospective equity risk premium” deeper into the negatives. That may not matter this week, this month, or even this quarter, but it does tell us the forward looking risk vs return set points to an entirely different regime than what we’ve become accustomed to.” continue…

by Roger Montgomery Posted in Aura Group, Investing Education.

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There are four major criticisms for holding cash as an investment. But what if there was a simple alternative that went some way to invalidating those criticisms? continue…

by Roger Montgomery Posted in Aura Group, Investing Education.

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I joined Ausbiz to explore why private credit is attracting growing interest from investors. It can offer equity-like returns with far less volatility, while providing both diversification and  income. With stretched markets and retirees prioritising stability, private credit is fast emerging as a mainstream asset class in Australia. continue…

by Roger Montgomery Posted in Aura Group, TV Appearances.

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As we approach September 22, 2025, Westpac is set to redeem all $1.7 billion of its Westpac Capital Notes 5 (WCN 5, ASX code: WBCPH). It’s the beginning of an avalanche of cash to be returned to investors – mostly Boomers – that will need to find a home elsewhere. Why? Because the Hybrid market is being closed down, shuttered or phased out. continue…

by Roger Montgomery Posted in Aura Group, Investing Education.

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We are pleased to announce that independent research house Lonsec has completed its inaugural reviews of the Aura Private Credit Income Fund (for wholesale investors) and Aura Core Income Fund (for wholesale and retail investors). Both strategies have received an ‘Investment Grade’ rating, meaning Lonsec have conviction the strategies can meet their respective investment objectives. continue…

by Dean Curnow Posted in Aura Group, Montgomery News and Updates.

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In today’s dynamic financial landscape, and with public market volatility constantly rising, investors are increasingly seeking opportunities that strike a balance between solid returns and stability and diversification. continue…

by Roger Montgomery Posted in Aura Group, Investing Education.

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Montgomery Investment Management recently celebrated the 8th anniversary of the Aura Private Credit Income Fund (the Fund), and its 96 consecutive positive monthly cash distribution, delivering a compound net return of 9.55 per cent per annum since inception in August 2017.* continue…

by Roger Montgomery Posted in Aura Group.

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Investors have faced wave after wave of uncertainty – from fluctuating interest rates, persistent inflation and more recently, volatility driven by U.S. President Trump, Xi Jinping and Vladimir Putin.

While we can’t control these events, we can control where we invest.

That’s why we’ve launched a national campaign, developed with creative agency Mahlab, to spread awareness of the benefits of astutely managed private credit. continue…

by Roger Montgomery Posted in Aura Group, Feature Article, Montgomery News and Updates, Popular.

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