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Asia Pacific and A-REITs

At the October 2018 Royston Capital Smart Investor Market Update, Investment Committee Member Victor Yeung… Read More

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The Chase for Yield

In recent months we have seen two high profile listed hybrids come to market, Westpac Capital Notes 5 (WBCPH) and CommBank PERLS X Capital Notes (CBAPG). Both of these were oversubscribed however we felt that their offer for yield was insufficient for us to participate. There are many factors to consider when investing for yield, and when you are seeking more yield you have three choices; i) extend tenor, ii) move down the credit quality spectrum; and iii) move down the capital structure. In the case for WBCPH and CBAPG (and other recent IPOs), the tenor has been extended to seven years or more, without the necessary pick up in margin over the 90-day Bank Bill Swap Rate. To understand this, we set the scene below and explain why we didn?t participate in the offer. Read More

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Debunking the Active, Passive Investment Debate

As equity markets around the world extend into an exceptionally long 9 year bull market the debate of Active versus Passive investment rages louder than ever before. This is not a new debate, it is decades old and there is no shortage of commentary, opinion, white papers and expert views, all you need to do is type in a google search and you will find piles of it. But is this even the right debate to be having? Read More

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Ladies: Are you paying attention to your finances?

On May 3rd this year the Federal Government released its Budget measure which included changes… Read More

Post Image for Royston Capital Appoints Admiral Investment as Advisor for Australian REIT and listed Infrastructure Portfolio

Royston Capital Appoints Admiral Investment as Advisor for Australian REIT and listed Infrastructure Portfolio

Royston Capital Pty Ltd has announced that the company has appointed Admiral Investment Limited (“Admiral”),… Read More

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Why Hong Kong investors should consider Australia

During our regular conversations with clients, many Asian investors are actively diversifying their real estate… Read More

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