Insights From
Every Angle
News, views and market insight from the Yarra Capital Management team.
We value research, insight and analysis that helps us identify the best opportunities for superior and sustainable returns over the longer term. Our distinctive investment approach capitalises on viewpoints from both our equity and fixed income teams. Read their perspectives on markets, trends and opportunities in local and global markets here.
As credit spreads normalised through 2025, yield‑hungry investors have turned to leverage to maintain 6%+ returns — pushing some parts of the market uncomfortably close to pre‑GFC behaviours. But the rising use of repo‑based leverage and structured enhancements can turn stable investment grade (IG) portfolios into vehicles for equity‑like drawdowns. Phil Strano (Head of Australian Credit Research) believes investors need to be careful to understand the true risk‑return trade‑off.
8 MINUTE read
One of last year's unsung success stories on the ASX unfolded outside the top tier. The S&P/ASX Small Ordinaries Accumulation Index delivered a total return of 24.96% in 2025, almost 2.5 times the ASX 200's total return. After years of underperformance, the sector is bouncing back as cyclical tailwinds align, bringing significant opportunities for investors with a disciplined and focused investment process.
20 MINUTE watch
The smallest part of the market offers a huge investible universe and the opportunity for genuinely impressive long-term growth. As a sector brimming with valuation inefficiencies, broad exposures and under-the-radar growth stories, it's a part of the market that offers a happy hunting ground for all investors.
11 MINUTE watch
When volatility emerges and markets inevitably change course, risks and opportunities reset, with one investor’s new opportunity another’s pitfall. This is the essence of a dynamic market and why Phil Strano (Head of Australian Credit Research) loves playing an active role.
5 MINUTE read
Artificial intelligence (AI) represents the greatest platform shift in technology since the genesis of software delivery via the cloud. David Acton, Portfolio Manager of the Yarra Private Capital Strategy, believes the ‘fears of disruption’ are principally being driven by three interrelated themes.
7 MINUTE read
While criticising policy makers is something of a national sport in Australia, we have tended to refrain from overt criticism since policy decisions are rarely one-sided arguments, and reasonable people can disagree on the interpretation of the facts. Here’s why Tim Toohey (Head of Macro and Strategy) disagrees.
12 MINUTE read
Small and microcap companies have kicked off 2026 with real momentum. In this interview with ausbiz, portfolio manager Joel Fleming breaks down what’s powering the rally and details his confidence in the outlook for 2026.
8 MINUTE watch
While most of us were on holiday, a lot has already happened in 2026 and it is only just getting started. Tim Toohey (Head of Macro and Strategy) reviews the early part of January and provides his five reasons supporting his dovish view on Australian interest rates.
15 MINUTE watch
Microcap and emerging companies have had a stellar 2025, returning approximately about 28.5% amidst a rotation from what was previously a performance environment driven by Australian large caps. With active management essential amid recent sharp rotations, where are skilled managers looking for compelling opportunities heading into 2026?
7 MINUTE watch
Katie Hudson, Head of Australian Equities Research and Co-Portfolio Manager of Small Cap Equities, sits down with James Thomson and Anthony MacDonald for The AFR's Chanticleer podcast for a wide‑ranging conversation talking through the forces shaping markets moving into 2026.
22 MINUTE listen
As responsible stewards of our clients’ capital, we recognise climate change as a material financial issue. A warming world is reshaping the path to net zero — and investors need a more pragmatic, resilient approach. In this note we unpack what this means for portfolios, policy and long‑term value.
7 MINUTE READ
See every angle with reports from experts across the market spectrum! In a year shaped by diverging economic paths and market outcomes, our 2026 outlook brings together multiple perspectives to help you see the full picture.
60 MINUTE read
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