High-net-worth Australian investors are steadily increasing allocations to alternative assets — private credit, infrastructure and even collectibles — as they seek diversification beyond listed equities and bonds.
Wealth managers say the trend has accelerated as private credit yields have stayed attractive relative to public fixed income, even as rate cuts loom.
“Clients want things that don't move in lockstep with the ASX every time the Fed sneezes,” one private banker said.