AMP Limited

Well, hello and welcome back to another episode of Relative Return Insider.

I'm your host, Olivia Grace Curran, and I've got AMP Chief Economist Shane Oliver joining me today.

How are you, Shane?

I'm good, Olivia.

All right, let's have a look at what's on the watch list.

In Australia, Steadfast, Pinnacle, Woolies, Woodside Energy, AMP, GQG Partners and Credit Corp are making dividend payments.

And next week, there'll be a lot of focus, of course, on the pending decision on interest rates on Tuesday and the news conference with Governor Michelle Bullock, which follows as investors, and look, everyone, right, looks for signs on the path ahead.

In the US, durable goods and the Michigan Consumer Sentiment Survey will be released.

not ANZ.

I'm thinking AMP.

Oh, yeah.

ANZ, CBA, Macquarie and Westpac are the major banks, obviously.

And I think even just listening to him, you could back up and go, because people will walk away with really clear frameworks to know how to put this into place.

Now, Sean O'Malley is the CEO of AMP Bank, the retail bank.

I used to work with Sean when I worked at Westpac.

He was at the time the head of wholesale operations, I think it was, or head of wholesale operations.

So the global market is about to open up, particularly in Canada, and I think it's important to underscore some of the unique characteristics of these circumstances that still echo in the infrastructure business today when you compare the super funds with the Canadian model.

So in Australia, as I just described, Macquarie and eventually other specialty Australia infrastructure GPs, Hastings, AMP, QIC, First Capital.

By the way, the supers even seeded and still own a dedicated infrastructure GP called IFM, so that you saw this proliferation of other GPs.

It kicked off this embryonic development that created this ecosystem of LP and GP history that has endured to this day.

Thank you so much for having me.

So Deanna is Deputy Chief Economist at AMP, well-versed in this part of the market and certainly as it relates to property and our private credit strategy.

So I think, Deanna, a good place to start is, I guess, just to give us a bit of a snapshot of where the economy is at in Australia and how you think we're shaping up the next 12, 18 months.

Yeah, it's a bit of a strange time in Australia because on the one hand, we have a central bank that's raising interest rates and we have pretty elevated inflation.