The Yarra Exchange

Mal Maiden catches up with distinguished Australian economist, central banker, former public company director and published author Ian Macfarlane AC. They discuss the imperfect science that is central banking, touching in the challenges withdrawing the easiest monetary policy in recorded history, and debate the outlook for rates and inflation. Mal and Ian also look at Australian wealth inequality and unpick MMT – which Ian believes is neither Modern, Monetary or a Theory – and touch on George Ernest Morrison, One Remarkable Australian. This podcast is produced and distributed by Yarra Funds Management Limited ABN 63 005 885 567 AFSL 230251. Any reference to specific securities or financial products is not intended to be a recommendation to buy, sell or hold any securities or financial products. Yarra Funds Management Limited is not licensed to provide personal financial product advice to retail clients. The content contains general advice only and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this podcast, consider the appropriateness of the information, having regard to the individual’s objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This podcast is based on information available at the time of publishing. The content may include various third party sourced material. The podcast may refer to registered managed investment schemes which Yarra Funds Management Limited is the issuer and responsible entity of. Prior to investing in any of the Funds, you should obtain and consider the product disclosure statement (‘PDS’) for the relevant Fund by contacting our Investor Services team on 1800 034 494 or from our website at www.yarracm.com/pdsupdates/. Any mentions of past performance are not a reliable indicator of future performance. Information about the Funds, including the relevant PDSs, should not be construed as an offer to any jurisdiction other than in Australia. We believe that the information in this podcast is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither Yarra Funds Management Limited nor its related bodies corporate accept liability to any person for loss or damage arising from the reliance or use of content in this podcast. © Yarra Capital Management, 2022.

Mal Maiden catches up with Tim Toohey, Head of Macro and Strategy, to reflect on Tim’s 2020 non-consensus COVID recovery call and the current outlook for markets against a murky inflation backdrop. Mal and Tim also discuss the drivers behind China’s recent policy shifts, including the potential implications of a more rapidly shrinking population. This podcast is produced and distributed by Yarra Funds Management Limited ABN 63 005 885 567 AFSL 230251. Any reference to specific securities or financial products is not intended to be a recommendation to buy, sell or hold any securities or financial products. Yarra Funds Management Limited is not licensed to provide personal financial product advice to retail clients. The content contains general advice only and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this podcast, consider the appropriateness of the information, having regard to the individual’s objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This podcast is based on information available at the time of publishing. The content may include various third party sourced material. The podcast may refer to registered managed investment schemes which Yarra Funds Management Limited is the issuer and responsible entity of. Prior to investing in any of the Funds, you should obtain and consider the product disclosure statement (‘PDS’) for the relevant Fund by contacting our Investor Services team on 1800 034 494 or from our website at www.yarracm.com/pdsupdates/. Any mentions of past performance are not a reliable indicator of future performance. Information about the Funds, including the relevant PDSs, should not be construed as an offer to any jurisdiction other than in Australia. We believe that the information in this podcast is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither Yarra Funds Management Limited nor its related bodies corporate accept liability to any person for loss or damage arising from the reliance or use of content in this podcast. © Yarra Capital Management, 2021.

Mal Maiden sits down with Dion Hershan, Head of Australian Equities. Mal and Dion discuss the recently announced acquisition of Nikko Asset Management Australia, the key takeaways from the February reporting season and the outlook for markets. Other topics include the rise of the retail investor, the emergence of SPACs and how Yarra Capital Management views the growth of cryptocurrency. This podcast is produced and distributed by Yarra Funds Management Limited ABN 63 005 885 567 AFSL 230251. Any reference to specific securities or financial products is not intended to be a recommendation to buy, sell or hold any securities or financial products. Yarra Funds Management Limited is not licensed to provide personal financial product advice to retail clients. The content contains general advice only and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this podcast, consider the appropriateness of the information, having regard to the individual’s objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This podcast is based on information available at the time of publishing. The content may include various third party sourced material. The podcast may refer to registered managed investment schemes which Yarra Funds Management Limited is the issuer and responsible entity of. Prior to investing in any of the Funds, you should obtain and consider the product disclosure statement (‘PDS’) for the relevant Fund by contacting our Investor Services team on 1800 034 494 or from our website at www.yarracm.com/pdsupdates/. Any mentions of past performance are not a reliable indicator of future performance. Information about the Funds, including the relevant PDSs, should not be construed as an offer to any jurisdiction other than in Australia. We believe that the information in this podcast is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither Yarra Funds Management Limited nor its related bodies corporate accept liability to any person for loss or damage arising from the reliance or use of content in this podcast. © Yarra Capital Management, 2021.

Mal Maiden sits down to discuss the state of play in Australian credit with Roy Keenan, Head of Australian Fixed Income and an investor with 35 years’ investment markets experience. Mal and Roy explore the differences between the COVID and Global Financial crises, the outlook for interest rates and detail where Roy sees opportunities over the next 1-2 years. This podcast is produced and distributed by Yarra Funds Management Limited ABN 63 005 885 567 AFSL 230251. Any reference to specific securities or financial products is not intended to be a recommendation to buy, sell or hold any securities or financial products. Yarra Funds Management Limited is not licensed to provide personal financial product advice to retail clients. The content contains general advice only and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this podcast, consider the appropriateness of the information, having regard to the individual’s objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This podcast is based on information available at the time of publishing. The content may include various third party sourced material. The podcast may refer to registered managed investment schemes which Yarra Funds Management Limited is the issuer and responsible entity of. Prior to investing in any of the Funds, you should obtain and consider the product disclosure statement (‘PDS’) for the relevant Fund by contacting our Investor Services team on 1800 034 494 or from our website at www.yarracm.com/pdsupdates/. Any mentions of past performance are not a reliable indicator of future performance. Information about the Funds, including the relevant PDSs, should not be construed as an offer to any jurisdiction other than in Australia. We believe that the information in this podcast is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither Yarra Funds Management Limited nor its related bodies corporate accept liability to any person for loss or damage arising from the reliance or use of content in this podcast. © Yarra Capital Management, 2020.

Mal Maiden sits down with Katie Hudson, Head of Australian Equities Research and Small Caps Portfolio Manager, to discuss markets and the drivers of her outperformance through the COVID-19 crisis. Mal and Katie also discuss technology valuations, the importance of ESG and the flood of IPOs coming to market. This podcast is produced and distributed by Yarra Funds Management Limited ABN 63 005 885 567 AFSL 230251. Any reference to specific securities or financial products is not intended to be a recommendation to buy, sell or hold any securities or financial products. Yarra Funds Management Limited is not licensed to provide personal financial product advice to retail clients. The content contains general advice only and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this podcast, consider the appropriateness of the information, having regard to the individual’s objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This podcast is based on information available at the time of publishing. The content may include various third party sourced material. The podcast may refer to registered managed investment schemes which Yarra Funds Management Limited is the issuer and responsible entity of. Prior to investing in any of the Funds, you should obtain and consider the product disclosure statement (‘PDS’) for the relevant Fund by contacting our Investor Services team on 1800 034 494 or from our website at www.yarracm.com/pdsupdates/. Any mentions of past performance are not a reliable indicator of future performance. Information about the Funds, including the relevant PDSs, should not be construed as an offer to any jurisdiction other than in Australia. We believe that the information in this podcast is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither Yarra Funds Management Limited nor its related bodies corporate accept liability to any person for loss or damage arising from the reliance or use of content in this podcast. © Yarra Capital Management, 2020.

Host Mal Maiden sits down with Ahmed Fahour, Managing Director and CEO of Latitude Financial Services, to discuss his distinguished career, where to now for Latitude, Australia’s leading digital payments and finance business in Australia and New Zealand, and coronavirus. This podcast is produced and distributed by Yarra Funds Management Limited ABN 63 005 885 567 AFSL 230251. Any reference to specific securities or financial products is not intended to be a recommendation to buy, sell or hold any securities or financial products. Yarra Funds Management Limited is not licensed to provide personal financial product advice to retail clients. The content contains general advice only and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this podcast, consider the appropriateness of the information, having regard to the individual’s objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This podcast is based on information available at the time of publishing. The content may include various third party sourced material. The podcast may refer to registered managed investment schemes which Yarra Funds Management Limited is the issuer and responsible entity of. Prior to investing in any of the Funds, you should obtain and consider the product disclosure statement (‘PDS’) for the relevant Fund by contacting our Investor Services team on 1800 034 494 or from our website at www.yarracm.com/pdsupdates/. Any mentions of past performance are not a reliable indicator of future performance. Information about the Funds, including the relevant PDSs, should not be construed as an offer to any jurisdiction other than in Australia. We believe that the information in this podcast is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither Yarra Funds Management Limited nor its related bodies corporate accept liability to any person for loss or damage arising from the reliance or use of content in this podcast. © Yarra Capital Management, 2020.

Host Mal Maiden sits down with Tim Toohey, Yarra Capital Management’s Head of Macro and Strategy, to discuss global markets, the 2020 US election, the Financial Crisis, the role of central banks, and the implications of the devastating Australian bushfires for the Australian economy and policymakers. Tim Toohey was named Australia’s number one economist in the Greenwich survey for 13 consecutive years from 2003-2016. He joined Yarra Capital Management in September 2019, bringing more than 25 years markets experience, including more than 15 years with Goldman Sachs where he was Chief Economist and Head of Macro Strategy (Australia and New Zealand). This podcast is produced and distributed by Yarra Funds Management Limited ABN 63 005 885 567 AFSL 230251. Any reference to specific securities or financial products is not intended to be a recommendation to buy, sell or hold any securities or financial products. Yarra Funds Management Limited is not licensed to provide personal financial product advice to retail clients. The content contains general advice only and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this podcast, consider the appropriateness of the information, having regard to the individual’s objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This podcast is based on information available at the time of publishing. The content may include various third party sourced material. The podcast may refer to registered managed investment schemes which Yarra Funds Management Limited is the issuer and responsible entity of. Prior to investing in any of the Funds, you should obtain and consider the product disclosure statement (‘PDS’) for the relevant Fund by contacting our Investor Services team on 1800 034 494 or from our website at www.yarracm.com/pdsupdates/. Any mentions of past performance are not a reliable indicator of future performance. Information about the Funds, including the relevant PDSs, should not be construed as an offer to any jurisdiction other than in Australia. We believe that the information in this podcast is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither Yarra Funds Management Limited nor its related bodies corporate accept liability to any person for loss or damage arising from the reliance or use of content in this podcast. © Yarra Capital Management, 2020.

Award winning business journalist Malcolm Maiden introduces The Yarra Exchange, a podcast series covering what’s happening in the markets and the world of business generally. Brought to you by independent Australian fund manager Yarra Capital Management, Mal previews his exchange with Tim Toohey, Yarra Capital Management’s Head of Macro and Strategy. Airing soon, Mal and Tim discuss global markets, the 2020 US election, the Financial Crisis, the role of central banks, and the implications of the devastating Australian bushfires for the Australian economy and policymakers. This podcast is produced and distributed by Yarra Funds Management Limited ABN 63 005 885 567 AFSL 230251. Any reference to specific securities or financial products is not intended to be a recommendation to buy, sell or hold any securities or financial products. Yarra Funds Management Limited is not licensed to provide personal financial product advice to retail clients. The content contains general advice only and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this podcast, consider the appropriateness of the information, having regard to the individual’s objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This podcast is based on information available at the time of publishing. The content may include various third party sourced material. The podcast may refer to registered managed investment schemes which Yarra Funds Management Limited is the issuer and responsible entity of. Prior to investing in any of the Funds, you should obtain and consider the product disclosure statement (‘PDS’) for the relevant Fund by contacting our Investor Services team on 1800 034 494 or from our website at www.yarracm.com/pdsupdates/. Any mentions of past performance are not a reliable indicator of future performance. Information about the Funds, including the relevant PDSs, should not be construed as an offer to any jurisdiction other than in Australia. We believe that the information in this podcast is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither Yarra Funds Management Limited nor its related bodies corporate accept liability to any person for loss or damage arising from the reliance or use of content in this podcast.