James Kirby

KKO, the big private credit fund is down.

But I want to ask you, is it wishful thinking?

Some people say the Australian private credit market is better than the US one or the global one because it is not so evolved and so it's more linked with traditional property assets.

Yeah, correct.

It's for risky development, right?

That's very clear.

Okay.

Thank you, Andy.

Look, before we go to questions, where do you think this goes from here?

Yeah, and you have to read the fine print.

And if you don't, find someone who understands it.

Because as you say, it's all fine saying you can't get your money out and it's gated and you'll get it in the end.

But hey, that doesn't really... If you're sitting there wondering, are you ever going to get your 100 grand back?

Because often it was 100 grand to go into these funds.

And you get it back in three years' time.

Well, you're not winning.

Okay, we will take a short break.

You can digest all that at your leisure, folks.

I have some very good questions for Andy.

Hello, welcome back to the Australian's Money Puzzle.