Fintech lending - Curb your enthusiasm

We are pleased to provide an update on the performance of our Australian and global founder company strategies. Australian and global founder companies have been strong. For the June quarter, the Australian portfolio delivered a return of around 40%, well above the benchmark, while the global strategy produced a return of over 13%, also well ahead of the global benchmark. Thanks in part to our low cost structure and low portfolio turnover, the Australian and global strategies have earned tax effective returns net of fees that have been well above their benchmarks over the past twelve months and since inception. In this post, we discuss the regulatory and institutional constraints that fintech lenders in Australia are likely to confront.