Loanworks’ Satish Chand and Andrew Wallbank recently returned from an insightful trip to London and Barcelona — that offered a valuable read on the global securitisation market and, closer to home, the growing appetite for Australian RMBS.
London: Strong signals from UK investors
The first stop was an investor seminar hosted by the Australian Securitisation Forum, which continued the dialogue between Australian issuers and UK-based investors. The room was engaged and the interest was genuine, reflecting a well-established appetite for Australian paper among sophisticated UK investors.
Alongside the seminar, we held a series of meetings with both new and existing investors, providing updates on the Blackwattle RMBS programme. The response was overwhelmingly positive — a clear vote of confidence in what we’re building.
Barcelona: The global securitisation industry in one room
From London, it was on to Barcelona for Global ABS — one of the industry’s premier events, drawing around 6,000 participants from across the world.
What themes stood out
Market resilience: Despite ongoing geopolitical uncertainty — including the Middle East conflict — speakers cited the structural strength underpinning markets especially those like Australia which have a consistent and stable legal and political environment and strong economic fundamentals This view was particularly evident among fund managers, pension funds, and insurers across the UK and Europe, all of whom have significant capital to deploy and are actively seeking quality global assets.
Australian RMBS – demand keeps building: Australian paper was a recurring conversation. A dedicated session on the Australian market reinforced what we heard in investor meetings — offshore investors are increasingly confident in the liquidity and relative value offered by Australian RMBS. Strong returns compared to UK RMBS equivalents are driving growing, sustained interest from European and UK allocators.
Regulatory tailwinds ahead: EU regulatory requirements have historically added complexity for Australian issuers seeking European investor participation. That may be about to ease. Early-stage discussions around proposed regulatory changes are expected — when finalised — to simplify compliance requirements for investors, which in turn reduces the friction for Australian issuers. The timeline and final shape of those changes is still to be determined, but the direction is encouraging.
The key takeaway
Both trips reinforced something we already believed: Australian RMBS is attracting serious, growing interest from some of the world’s most sophisticated investors. For Loanworks, that’s a strong foundation — and the conversations we had in London and Barcelona are already informing how we drive our business across software and outsourcing and engage with global capital markets going forward.
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