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Australian Credit Management - Higher Returns · Lower Fees

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Australian Credit Management - Higher Returns · Lower Fees

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Australian Credit Management

Higher Returns · Lower Fees

How We Work

Why Crossover Credit?

At Narrow Road Capital we believe the credit markets reward three key variables: perceived risk, perceived complexity and actual illiquidity.

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Our Investment Process

Since the establishment of Narrow Road Capital in 2012, client returns have substantially exceeded benchmarks and the vast majority of our peers.

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Our Track Record

We believe a well selected and diligently managed high yield and crossover credit portfolio will deliver far better risk adjusted returns than traditional investment categories.

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Recent Memos

Affordable Housing

Does anyone really care about housing affordability?

Australia’s large construction industry is fully employed. Solving our housing affordability crisis must include reducing excessive demand.

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RBA needs renewal and independence

The RBA Board needs renewal and greater independence

Recent events highlight the necessity of greater economic and financial markets expertise amongst Board members, as well as a reduction in the ability of government to override RBA decisions.

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Philanthropy submission

Submission to the Productivity Commission Review of Philanthropy

The draft report’s aims of making the system simpler, fairer and consistent are laudable. However, the report itself is inconsistent in parts leading to several flawed conclusions.

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Submission to the Covid 19 Response Inquiry

Submission to the Covid 19 Response Inquiry

The disastrous overreaction to Covid 19 by Australian Governments will leave Australia worse off on health and economic grounds for decades to come

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Submission to the National Housing and Homelessness Plan

Submission to the National Housing and Homelessness Plan

Australia’s construction industry cannot supply the housing and infrastructure necessitated by extraordinarily high levels of migration.

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Reflections ahead of Philip Lowe’s last speech

Reflections ahead of Philip Lowe’s last speech

Arguably the most significant lesson is that future Governors should intervene with monetary policy far less than he did

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The RBA’s mistake was cutting the Cash Rate

The RBA’s mistake was cutting the Cash Rate

By cutting too far the RBA helped create high inflation. Normalising interest rates is the economically prudent response.

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Submission to the review of the Reserve Bank of Australia

Submission to the review of the Reserve Bank of Australia

The RBA’s errors stem from a lack of diversity in economic analysis, with its often contradictory aims setting it up to fail.

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The rent is too darn high

The rent is too darn high

The rapid decline in residential properties available for rent points to a greater proportion of low income Australians becoming homeless

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Do rate rises cause recessions?

Do rate rises cause recessions?

Governments and economists might finally be realising that excessive stimulus creates and exacerbates recessions

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Cyclicality of capital allocation

The cyclicality of capital allocation

With long term bond yields rising, investors are likely to allocate their capital very differently than they did in the last few years

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Bear market without a recession

A bear market without a recession?

The prospect of a recession normally accompanies a slump in asset prices, but the current starting point and trigger are somewhat different from historical examples

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