Charlie Viola
speaker
337 appearances
1 recordings
1 series
first heard Jun 2026
last heard 1 Jun
Charlie Viola’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.
Appearances
We want unit prices to stay stable and we want it to punch reasonably big amounts of income back into the bank account.
So what we never want is for our credit investments to have a whole bunch of equity risk attached to it.
And therefore, we should never expect equity style returns.
So if you're investing in private credit, US private credit investments,
generating 11% or 12%, then you have to expect that you're taking equity-like risk with that.
So you need to make sure that you're using these investments where they're actually intended and what you're actually intending out of it.
I think the domestic private credit, private debt market continues to be really strong.
There is a huge demand for non-bank lending.
There is good covenants in place.
We've learned a lot over the last 10 or 15 years.
CIOs in those really good businesses are
Palos, Qualitas, Metrix, Zaga, whoever, have done a really good job at understanding their risk matrix and a really good job.
So we still think that returns in that sector are asymmetric to the risk that's being taken.
We think it's the other way for US consumer and commercial debt, where we think the risks are considerably higher because they've been funding growth enterprise
Yeah.
The thing is, it is though.
So we have growth credit here as well.
It's just that we have an overwhelming amount of asset-backed and real asset-backed credit here in Australia.
So like I said, people need to understand what they're investing in and people need to understand the risk-return trade-off.
If you're investing in credit that's punching out equity-style returns, then you're taking equity-style risk, right?
Showing 241–260 of 337 · page 13 of 17
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