What we're watching
What We’re Watching: Governance – the cockroach killer
The G in ESG has often felt like the poor cousin of the three pillars of sustainable investing, despite evidence that governance is at least as important a driver of performance. From a credit perspective, governance drives event risk, which in turn drives default risk.
What we're watching
What We’re Watching: Becoming wary of software
Many of you will have seen news over the past few weeks regarding the US Private Credit sector’s exposure to software and flow on concerns regarding the impact of AI on the software businesses. Investor concerns have centred around those managers who are most exposed with most press articles focussed on Blue Owl Capital as […]
Market Reviews
From Record Issuance to Renewed Opportunity: European & Australian ABS in Focus
2025 Wrap-up and 2026 Outlook 2025 closed as another strong year for the European and Australian ABS markets despite intermittent macro uncertainty. Investors continued to demonstrate robust demand, supporting spread compression amid record issuance volumes. For 2026, we expect elevated funding needs and stable performance across core collateral types, alongside ongoing innovation in new and […]
What we're watching
What We’re Watching: Review of 2025
As is fast becoming our tradition, for our November report we reflect on the year that was 2025 sharing our favourite books, podcasts and other things that have influenced our thinking during 2025.
What we're watching
What We’re Watching: Responding to ASIC’s surveillance
This month ASIC released a surveillance report as part of their investigation into private credit. This report called out poor practices in the industry, providing a useful guide that investors can use to assess the quality of private credit managers. In this month’s What We’re Watching we benchmark our own processes against ASIC’s guidance. Apologies […]
What we're watching
What We’re Watching: Quarterly Report – September 2025
In this month’s “What We’re Watching”, we provide our regular quarterly review of markets covering ASIC’s increased surveillance of activities in private lending markets and some high profile defaults on global credit markets.
Market Reviews
The boom in Australian securitised credit
Challenger Investment Management explore Australia’s booming securitisation market, where non-bank lenders drive record issuance and global investor demand.
Market Reviews
European & Australian ABS: 2025 review and outlook for the remainder of the year
With the traditional European summer lull long forgotten and given the busy issuance both and the European and Australian ABS/RMBS pipeline bursting, as we enter Q4, the Challenger ABS team provide a short review of the year so far and some insights into our expectations for the last quarter.
What we're watching
What We’re Watching: Watching the flows
In this month’s piece we share our perspective on recent regulatory events in the private credit markets, which we believe should provide a solid step forward in improving governance issues in this market.
Report
Enhancing the credit premium: Securitised Credit a compelling alternative to Investment Grade Corporate Credit
We explore how securitised credit can enhance yield, reduce volatility, and offer defensive value for institutional portfolios.
What we're watching
What We’re Watching: The numbers behind the “democratisation” of 401(k)s
This month we take a deep dive into the investment strategies employed by 401(k) plans following the move by the Trump Administration to ease the access for defined contribution schemes to invest in private markets, including private credit.
What we're watching
What We’re Watching: Quarterly Report – June 2025
In this quarterly review, we explore why credit spreads remain resilient despite rising downgrade activity, record-high insolvencies, and signs of fundamental deterioration in riskier segments. Private credit continues to attract capital, but questions around valuations and governance persist as public markets offer increasingly competitive alternatives.