Inside the Rope with David Clark

Alium Market Neutral returned 7.2% in March. Martin Rosser joins the podcast again to discuss how the Alium Market Neutral Fund has been able to generate positive returns during the COVID-19 pandemic. By identifying early market trends such as growth in the share price of "In-Home" businesses as events transpired in places such as Hong Kong, Martin and the team were able to make sensible investmen...

Adrian runs the Merricks Capital Partners Fund, a fund that provides senior asset secured debt to real estate, agriculture & occasionally infrastructure. The fund has provided investors with consistent returns of 12% p.a. net of fees (as at Feb 2020) with relatively low levels of volatility and an overall loan to value ratio of less than 60%. Throughout the episode, Adrian discusses the impact of...

The Totus Capital Alpha Fund is up 9% CYTD for 2020, during a period when global equity markets have rerated significantly. Throughout the episode, Ben discusses the opportunities he believes are being created in markets, and the short term trends that have been created by the virus. Similar to our previous guest John Hempton, Ben argues that this is a virus issue at its core which cannot be solve...

In John Hempton’s eyes, what is occurring in financial markets is not an economic problem that can be solved through central bank stimulus. It’s a virus problem, and as a virus problem, it can only be solved through scientific intervention such as vaccines. John believes that the measures taken by central banks may cause more harm than good and that over the next 4 weeks we will see COVID-19 tip i...

Chris joins David in this special episode to discuss the Coronavirus, housing markets, private debt and LIC stamping fees. Chris is of the view that the increased market volatility presents opportunities for investors, however they must be cautious. He highlights the implications on financial markets posed by Coronavirus and speculates that whilst the Chinese may surprise with an early vaccine we...

Investing in growth opportunities that present themselves as emerging winners, Jeff backs the individuals behind what he identifies as a successful business. He is well known as an early backer of both Magellan Financial Group (MFG) and Goodman Group (GMG) and his fund is currently the largest shareholder of Pointsbet (PBH). With the firm belief that everything you do in life makes you a better in...

Deriving uncorrelated returns to traditional asset classes, as at January 2020 the Argyle Water Fund has returned 19.1% p.a. since inception (2012) by investing in water rights across Australia. Returning to the podcast for a second time, Kim joins David to discuss the fund's change in banner from Bluesky to Argyle along with other topics such as the recent bushfire crisis that has been ongoing ac...

The Ophir Opportunities Fund has returned 26.1% p.a. since inception in August 2012 (net of fees) and their latest Global Opportunities Fund has returned 33.8% p.a. since inception in October 2018 (net of fees). Andrew attributes the success of Ophir's funds to their commitment of keeping their finger on the pulse, travelling a lot, meeting companies, learning from their mistakes and creating a st...

Targeting what Roger refers to as 7/11 (7% income and 4% growth), Palisade's Diversified Infrastructure Fund has returned 10.2% p.a. over the last 10 years (as at 30 June 2019).   Roger defines infrastructure as a defensive asset that is essential for the community, and in this episode, Roger and I discuss how Palisade are finding such assets across Australia. Roger also takes the time to highligh...

Tim Carleton from Auscap joins the podcast for a second time to discuss his new Global Equities Fund as well as the recent performance of the Long Short Australian Equities Fund. Currently invested in names such as Capri, Google (Alphabet), Microsoft and Visa, the new Auscap Global Equities Fund is an absolute return focused fund that targets high-quality value stocks. Tim highlights that the fund...

Sometimes presents that may be perceived as "boring" can eventuate into the most exciting gifts that you have received. The Magellan Infrastructure Fund invests in listed assets with exposure to sectors such as toll roads, airports, rail and utilities. Gerald describes these assets as highly reliable, predictable and boring. However, Gerald and I discuss how investing in such assets has allowed th...

Kee explains how property assets with yields of 7-9% are being found across the UK as Brexit fears have reduced competition for certain assets. Kee also covers the UK election and what it means for their property market. L1 UK Residential Property Funds focus on assets with purchase prices of £3-10m a bracket that is separate to that of large institutions who typically target assets of greater val...

Are the big Australian banks value traps? As the disparity in valuations between value and growth stocks widen, Rhett and I discuss why. The impact of technological disruption has seen several growth stock multiples stretch well beyond traditional valuation methods, and Rhett believes that there are more rational returns to be found in less favoured companies such as Telstra and Viva Energy. The P...

Equity like returns with debt like risk; Metrics Managing Partner Andrew Lockhart discusses the opportunity created by traditional lenders leaving the Australian market due to increasing levels of regulation. The Metrics Credit Partners Fund offers investors direct exposure to Australia’s bank-dominated mid-market corporate loan market by investing in loans to private corporates, private-equity sp...

With the Regal small-cap fund up over 70% CYTD (as at 30 Sept 2019), Phil and I talk the good, the bad & the ugly of financial markets. Phil remains optimistic that there is plenty of growth left in the market, and in this episode he steps through his rationale underpinning this view.

Investing through the cycle and targeting 10-15% returns net of fees is Alium’s focus, and in this episode Martin explains how Alium is able to accomplish this. The Alium Market Neutral strategy is an alternate strategy that utilizes both long and short positions globally with a thematic based approach. Martin describes how his strategy operates differently to traditional market-neutral strategies...

Recently I toured Israel with Koda Partner Will Douglas and Ibex Investors to gain insights into the Ibex Israel investment fund. On the four day tour we visited a range of investee companies and spent time with economists, industry representatives, start-up incubators, academics and other investors in the fund. In this episode, we discuss the Israel tour and the opportunities that Israel presents...

In what has proven to be a difficult period for Tribeca, Ben and I discuss the reasons for the fund's underperformance and how Tribeca is positioned to perform going forward. Ben has worked in the natural resource sector for over 15 years and founded Tribeca Global Natural Resources in 2015.

Rugby World Cup winning captain and captain of industry David Kirk discusses Bailador, his ASX listed technology investment company.

Lending money to countries such as Zimbabwe requires skill, knowledge, and experience. Stephen discusses how Global Evolution has become a global leader in managing frontier debt with over $9 billion of investors’ money. The frontier market strategy has produced an annualised return of 8.6% since its inception in 2010. The fund identifies opportunistic early-stage macroeconomic and political devel...

Equity-like returns with debt like risk. Nelson Yuan of PIMCO discusses how they use their global footprint to find attractive opportunities in credit.

Magellan has produced a return of 20% for FY19 and 16% p.a. for the last 10 years. We discuss a wide range of subjects including why the interest rate outlook is important for investors, the US/China trade tensions, Facebook’s new cryptocurrency “Libra” and what investors should be focusing on.

In this episode we chat to Tony Waters of QVG and discuss fast-growing small Australian companies such as AfterPay. As a founder and Portfolio Manager of the QVG Opportunities Fund, Tony manages money for sophisticated clients and institutions. The fund returned 9.3% in FY19 and has grown by 55% since its inception in June 2017.

In this episode we speak with Mattias Westman, Founding Partner at Prosperity Capital Management. In particular we discuss Prosperity’s investment strategy, which focuses on public companies in Russia and the former USSR and which has led the fund to produce a compound annual growth rate of 25% p.a. since its launch in 1999. The firm manages US $3 billion on behalf of institutional grade investors...

Haydn Smith is a Portfolio Manager at Tribeca Investment Partners and runs Tribeca’s Global Natural Resources Credit Fund. Haydn joins us to talk about the double-digit returns the fund is earning by lending to mining companies. Prior to Tribeca, Haydn was formerly the Global Head of Macquarie Bank's Mining Finance Group.