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The Return of Australia’s Income Trade

The Australian share market has spent much of the past decade lagging global equities, as investors increasingly looked offshore for structural growth opportunities in areas such as artificial intelligence. Yet while broad local market returns have disappointed relative to global shares, income-oriented strategies have quietly emerged as some of the strongest performing domestic equity strategies.

21 July 2026
 · 8 MIN READ

The Return of Australia’s Income Trade

The Australian share market has spent much of the past decade lagging global equities, as investors increasingly looked offshore for structural growth opportunities in areas such as artificial intelligence. Yet while broad local market returns have disappointed relative to global shares, income-oriented strategies have quietly emerged as some of the strongest performing domestic equity strategies.

21 July 2026
 · 8 MIN READ

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Cracks in the System: Learning from the Collapse of Shield, First Guardian & Australian Fiduciaries

Most investors think of fixed income investing as being a lower risk asset class. Yet surprisingly, three major fixed income managed funds have recently collapsed. It’s been a stark reminder that even at ‘safe’ end of the investment risk spectrum, vigilance, transparency, and governance should be regarded as non-negotiable.

3 July 2025
 · 6 MIN READ

How to Select a High-Quality Mortgage Fund & an Example

Mortgage funds have surged in popularity in recent years due to the attractive yields on offer which are backed by tangible property assets. However, as the sector matures and becomes more crowded, it’s more important than ever that investors understand not all funds are created equal. The vast spectrum of mortgage fund disclosure is also important to understand, since much of it is below the minimum level required by prudent investors.

13 June 2025
 · 8 MIN READ

How to make More Money in Bond Funds with a Superior Understanding of Duration

In the world of bond investing, few concepts are as powerful, or as misunderstood, as duration. Often simplified as a measure of interest rate sensitivity, duration can be used as a powerful tool to help investors make more informed and profitable decisions when investing in bond funds. Moreover, understanding duration at a deeper level can significantly enhance investors’ returns and reduce their risk by optimising timing, improving fund selection, and navigating changing interest rate environments more effectively…

11 June 2025
 · 7 MIN READ

End of Hybrids: A Time for Yield with Franking

At the beginning of this week, we saw APRA release its decision on the $43B Hybrids market. Hybrids have been an instrument used primarily by banks to increase Tier 1 Capital levels and were a combination of debt and equity, hence the name “hybrid”. In this week’s piece we are going to look at the bank hybrids market, a popular investment category that has grown to be worth $43 billion since first being offered to retail investors in 1998.

18 Mar 2025
 · 4 MIN READ

Private Credit in the Ascendancy

There aren’t many asset classes which have grown as consistently as private credit in recent years. More and more investors are allocating a portion of their fixed income capital to this fast growing asset class. For good reason. The solid risk-adjusted returns available in private credit provide welcome stability and predictability to investors’ portfolios.

5 Mar 2025
 · 4 MIN READ

Navigating Turbulent Times: A Bond Investor's Perspective

Multifaceted geopolitical and economic tensions threaten to disrupt the delicate balance of the world order. Economic forecasts, once predictable, now fluctuate like erratic cyclonic winds. The threats of recession are delicately balanced with interest rate policies that continue to reduce inflation. The threat of tariffs, like an unexpected frost, is decimating established supply chains, creating trade wars. The slowing growth of China casts a long shadow over commodity prices, easing our local markets into the shade. Finally, we have The Trump Effect, whereby long-held economic and geopolitical policies are being upended to create a new world disorder.  Altogether, there is a deep sense of unease amongst investors. It’s a stark warning that we may be facing significant and unpredictable headwinds in 2025. Hence, many investors want predictability and investment safe havens that provide protection from future storms.

28 Feb 2025
 · Tim Lea
 · 6 MIN READ

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