James Kirby

I'm going well.

Thanks for having me on again, James.

Great to have you on again.

During the show, when we talk about property, I must talk about the survey we did after your appearance.

But first, let's just have a look at this notion that perhaps many investors might have to look a bit wider than they have previously with some of the changes.

You've been sort of pushing this barrow anyway, that we're not diversified enough, that we don't look wider.

widely enough as investors.

So when you make those remarks about property, about how people are sort of obsessed with it, what are the areas you think that we should be looking at?

Yes.

Well, it's interesting.

There seems to be an inexorable, perhaps, trend towards this private capital and private equity.

At the same time, because perhaps we as a local market are a little bit behind the developments that are happening in the U.S., we're also seeing what can go wrong.

I don't want to start off on a negative on this, but people are asking.

So we see the big groups in private capital and private equity.

We all know who they are.

Blackstone and Morgan Stanley, et cetera, BlackRock.

That's all fine.

More recently, we're seeing big Australian groups, very well-known groups starting to move in there.

Perpetual, I see this week.

Regal this week at the Macquarie Conference, which is on this week, all talking how excited they are and pushing into this area.