Aura Group
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The silver lining in higher rates
Roger Montgomery
February 21, 2023
Financial media is replete with stories observing the fastest increase in interest rates in recent memory, the end of the declining interest rate era, how the fastest rise in short-term rates is inverting the yield curve (2-year bond yields higher than 10-year bonds) and predicting a recession, rising rates are causing the property market to collapse, and how causal inflation is responsible for it all and the financial destruction of many peoples’ lives. continue…
by Roger Montgomery Posted in Aura Group.
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Aura Private Credit: Letter to investors 13 February 2023
Brett Craig
February 13, 2023
Last week, the Reserve Bank of Australia (RBA) lifted interest rates off the back of the heightened inflation data that came in for the December 2022 quarter. continue…
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Aura Private Credit: Letter to investors 06 February 2023
Brett Craig
February 6, 2023
ADIs, or Authorised Deposit-taking Institutions, have been looking into how to incorporate the same underwriting technology that many fintech/non-bank lenders already have for some time now, with the intention of utilising the technology on unsecured SME credit. continue…
by Brett Craig Posted in Aura Group.
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Australian superfunds driving growth in private debt
Dean Curnow
February 3, 2023
At the end of 2021, Ernst and Young in an annual paper exploring the private debt market in Australia estimated its size to be AU$133 billion and growing 21 per cent year on year.[1] Whilst at a record size for Australia, it remains vastly immature when compared globally where the private debt market is estimated to be as large as US$1.2 trillion which has grown by 13.5 per cent annually over the last decade.[2] continue…
by Dean Curnow Posted in Aura Group.
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A $9 billion Opportunity for Non-bank SME Lenders
Brett Craig
January 30, 2023
The conclusion of the Term Funding Facility and conclusion of the Federal Government Coronavirus SME Guarantee Scheme means approximately $9 billion1 of SME credit will require refinancing by Australian non-bank lenders over 2023 and 2024. continue…
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WHITEPAPER
INTEREST RATES, THE BEST IT GETS. IT’S TIME TO DEPLOY CASH
Curious about the investment landscape in 2024? It appears that the current market offers a plethora of enticing opportunities for investors, a rarity not experienced since pre-pandemic times. This unique scenario stems from a confluence of factors, including elevated yields and comparatively rational equity valuations.
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Aura Private Credit: Letter to investors 27 January 2023
Brett Craig
January 27, 2023
This week, the December 2022 quarterly Consumer Price Index (CPI) reported the fourth consecutive quarter to show a rise greater than any seen since the introduction of GST in 2000. With the persistent inflationary pressure not yet showing any signs of slowing, further RBA rate rises are certainly on the cards. continue…
by Brett Craig Posted in Aura Group, Editor's Pick.
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End of the Term Funding Facility = Greater opportunity for Non-bank SME Lenders
David Buckland
January 25, 2023
When the COVID-19 pandemic got going in early-2020, the Reserve Bank of Australia established the Term Funding Facility (TFF) to offer low-cost three-year funding to authorized deposit-taking institutions (ADIs, often referred to as the Banks). This facility essentially provided the Banks with access to extremely low-cost funding (at a flat 0.10 per cent fixed for 3 years) for the period up until 30 June 2021, when new drawdowns ceased. continue…
by David Buckland Posted in Aura Group.
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Aura Private Credit: Letter to investors 2022 in review
Brett Craig
December 23, 2022
It has been an incredibly challenging yet exciting year for our team. In 2022, we moved out of a heavily COVID-19-driven market into a new set of domestic and global economic and market challenges. Climate events, geopolitical conflicts, supply chain disruptions, high inflation and rapid central bank monetary policy shifts all influenced our day-to-day lives and the investment decisions we make. continue…
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Aura Private Credit: Letter to investors 09 December 2022
Brett Craig
December 9, 2022
This week the RBA increased the Cash Rate by a further 25 basis points to 3.1 per cent. Data from the Australian Bureau of Statistics showed quarter on quarter GDP growth of 0.6 per cent and 5.9 per cent year on year for the September quarter. The Household savings ratio continued to fall to near pre-pandemic levels. continue…
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Aura High Yield SME Fund wins prestigious award
Roger Montgomery
December 6, 2022
The influential 17th With Intelligence HFM Asian Performance Award ceremony for 2022 was held in Singapore on 30 November. Winning managers were selected from a variety of categories, including Arbitrage, Macro, Australian Equity, Asia ex-Japan, Managed Futures, Indian Equity, Chinese Equity, Global Equity, Fixed Income and High Yield Distressed Category. continue…
by Roger Montgomery Posted in Aura Group.
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