Barings backs ‘resilient’ Aussie borrowers after Gryphon takeover

Sealing the deal: Steve Fleming and Ashley Burtenshaw from Gryphon Capital with Barings’ Duncan Robertson.

However, lower-income households, Moody’s Analytics warned, had “far less wriggle room” and would feel the pain much more acutely.Duncan Robertson, head of international business at Barings, said the firm was confident Australian mortgage borrowers would remain resilient despite rising interest rates and cost of living pressures.

“Despite the challenging environment, our analysis shows that RMBS is still a compelling opportunity and very attractive on a risk-reward basis,” he told theThe deal agreed to this week between Barings and Gryphon Capital Partners will add $2.6 billion of assets to its $12.3 billion global structured finance business, and give it a ready-made launching pad into the Australian RMBS market.

Barings will acquire 100 per cent of Gryphon Capital Partners, the parent company of Gryphon Capital Investments, manager of the $500 million capitalised Gryphon Capital Income Trust, which trades under the ticker GCI.Mr Fleming and Mr Burtenshaw will continue as portfolio managers of GCI, which reported a 59 per cent rise in profits to $15 million for the six months to December 2022.

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