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	Podcast:		Inside the Rope with David Clark
	Episode:		Ep 61: Adrian Redlich - Double digit returns from asset backed debt
	Category:		Business
	Duration:		00:39:11
	Publish Date:		2020-04-03 21:45:35
	Description:		Adrian runs the Merricks Capital Partners Fund, a fund that provides senior asset secured debt to real estate, agriculture & occasionally infrastructure. The fund has provided investors with consistent returns of 12% p.a. net of fees (as at Feb 2020) with relatively low levels of volatility and an overall loan to value ratio of less than 60%. Throughout the episode, Adrian discusses the impact of COVID-19 including the fund's recent performance and uplift throughout March, which was amplified by the fund's hedge in credit default swaps. These swaps which were incorporated at a relatively low cost, have provided investors with downside protection against both economic meltdowns & liquidity crises. Adrian believes that these swaps will continue to provide protection should financial markets further deteriorate.
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