The Rate Of Change

ROCast 7: Cullen Gunn | Take a dive into water investing

In today’s ROCast, Murdoch is joined by Cullen Gunn, the CEO & a Director of Kilter Rural to discuss investing in water and water rights.We dive into detail about all things water. Cullen covers how they go about investing in water, what are the main factors that impact water markets and how to think about investing in water as an asset class.Kilter Rural operates 4 funds in Agriculture and the Water space, but today we are talking to Cullen about investing in water and water rights. In Particular the Kilter Water Fund, which has an annualised return of 14.58% since inception and the Murray Darling-Balanced Water Fund which has an annualised return of 13.29% return since inception.Murdoch found the conversation on the weather for once to be one of the most interesting topics and was intrigued by just how little correlation these water funds actually have on other asset classes like the Australian share market.Before we get into the ROCast I would also like to encourage you to listen to the disclaimer at the end of this ROCast and to keep your feedback coming.Hope you enjoy.York Wealth Managementwww.yorkwealth.com.au

ROCast 6: Andrew Killesteyn - Accessing Australian Unlisted Infrastructure

In this RoCast Murdoch is joined by Andrew Killesteyn, the portfolio manager at Palisade Investment Partners to discuss the Infrastructure Fund and Infrastructure Trust.Andrew defines the infrastructure universe, discusses why they look at particular Australian mid market infrastructure assets and highlights the importance of these assets in the community.The fund's IRR on average is 9.8% over 1 year, 8.5% over 3 years, 9.1% over 5 years and 9.0% since inception.We dive into most of the assets such as airports, wind farms, gas pipelines, ports and I enjoyed most of all the discussion on the Sunshine coast Airport.We discuss everything from why they seek these assets to how the tender process works.Hope you enjoy.York Wealth Managementwww.yorkwealth.com.au

ROCast 5: Romano Sala Tenna | Breaking the Mould | Achieving consistent returns in the Australian share market through bold, contrarian strategies

In this ROCast Murdoch is joined by Romano Sala Tenna, one of the founders and portfolio managers at Katana Asset Management to discuss their long-only, listed ASX investment strategy.Katana’s approach was setup to challenge artificially imposed constraints on managing money. They achieve this by not being limited to index weightings, sectors, thematic or company sizes, whilst being comfortable to remain weighted heavily in cash for extended periods until the right opportunities arise.The fund's IRR on average is 15.41% over 1 year, 14.78% over 3 years, 12.36% over 5 years and 10.13% since inception.Romano's investment style is predominately bottom-up investing with technical overlay, whilst targeting trend following contrarian opportunities.

ROCast 4: Nick Thomson - ChatGPT | High Conviction Global Growth

In today’s ROCast, Murdoch is joined by Nick Thomson, the Portfolio Manager at Lakehouse Capital Global Growth Fund.Lakehouse Global Growth is an Australian based fund manager with a high conviction approach. The fund has a long term investing strategy targeting asymmetric outcomes in Mid to Large cap global growth companies, whilst holding 20-30 companies at a time.The strategy has averaged 13.6% in the past 5 years, up 10.9% in the past month, whilst being down -15.6% for the year to date.We dive into some interesting topics, Nick gives his thoughts on where they think markets are going in this rising rate environment, how the fund is positioned and we cover specific growth holdings in the portfolio from the US, South America all the way to China.For me I found the conversation regarding Google and Microsoft fascinating, in particular the potential impact of ChatGPT either directly on these companies or indirectly as a tool to be used by most industries and the impact on markets.Hope you enjoy.York Wealth Managementwww.yorkwealth.com.au

ROCast 3: Joe Millward - Growth purpose lending & the impact of rising rates on credit markets

The Rate of Change is a ROC Cast, which explores the ever-shifting momentum of financial markets through the eyes of the leading managers in wealth management.In today’s “ROC Cast” with I am speaking with Joe Millward, a founding partner and portfolio manager for Epsilon Direct Lending. Joe joins us to discuss the origins and nuances of the strategy, the corporate lending environment, and the impact of rising rates on private credit markets.The fund is an Australian based, non-bank corporate lender and private credit manager, which specialises in providing loans of AUD $10m - $50m to Australian mid-market corporates for growth purposes. Epsilon targets an income return of 8.5% p.a. and as of 31st of August the monthly return was 86 basis points. The fund has a 90-day duration, current liquidity is at 20 months and according to Moody's, the funds’ credit rating is BB.I think you will really enjoy the discussion with Joe, and you may find his thoughts on lending for growth purposes and how it differs to other private credit lending very insightful.EnjoyYork Wealth Managementwww.yorkwealth.com.au

ROCast 2: Michael Frazis - Finding growth in global technology and life sciences

In today's ROCast Murdoch speaks with Michael Frazis, the founder and portfolio manager at Frazis Capital Partners.Frazis Capital Partners is an Australian based fund manager that specialises in global growth investments, technology and life sciences.Murdoch discusses with Michael their two strategies. The main Frazis fund, which invests in listed fast growing global growth companies and secondly the Frazis Venture Fund, which invests in emerging, unlisted, early stage or pre-IPO growth opportunities also in technology and the life sciences space.In this ROCast we explore the dramatic volatility we have seen recently in global growth assets, the impact it has had on the fund and where he thinks the markets will go from here. Michael also discusses some companies, which have had substantial draw downs and he believes this move doesn’t reflect the true futures of these companies especially after earnings season.EnjoyYork Wealth Managementwww.yorkwealth.com.au

ROCast 1: Josh Manning - Impact of rising rates on Australian credit markets

In today's ROCast, Murdoch is joined by Josh Manning the founder and portfolio manager at Manning Asset Management to discuss Australian credit markets, rising interest rates and the impact on their income generating fund.Josh discusses their all-weather strategy approach that targets an interest rate and income return within the fund of 5% above the RBA cash Rate. This fund is income generating, pays distributions monthly and has consistently delivered 5% p.a. in income over the past 6 years. The Fund delivered +0.55% in May, 6.15% over 12 months and 6.23% annualised since inception.Josh started his journey in financial markets in 2007 and has since garnered his skills through working for leading global firms. His experience has included major institutions such as Macquarie Bank, Leveraged equities, Jana Investment Advisers.Josh holds an MBA from Macquarie Graduate School of Management (MGSM) and a Bachelor of Business Administration from Macquarie University.EnjoyYork Wealth Managementwww.yorkwealth.com.au