Episode 69: The Hybrid Market Shake-Up; Global Shifts; and What’s Next for Aussie Investors?

Episode 69: The Hybrid Market Shake-Up; Global Shifts; and What’s Next for Aussie Investors?

From Complexity Premia by Coolabah Capital Investments

October 29, 2025 · 10 min · Episode 71

About this episode

The episode discusses the decline of Australia's hybrid market and its global implications for investors.

Welcome to the Complexity Premia podcast by Coolabah Capital, a hosted by Christopher Joye, Chief Investment Officer and Portfolio Manager at Coolabah Capital, and Ying Yi, a Senior Portfolio Management Director at Coolabah Capital. The Complexity Premia podcast strives to deconstruct modern investment problems for wholesale (not retail) participants in capital markets. You can listen on your favourite podcast app, or you can find it on Spotify, Podbean or Apple Podcasts. In this episode, Chris and Ying Yi explore the decline of Australia’s $38.8 billion listed hybrid market and the global implications, including New Zealand’s proposal to phase out hybrid securities and the controversial Credit Suisse hybrid write-off. They discuss the risks and conflicts inherent in hybrid structures, the impact of APRA's decision to phase out bank hybrids, and the emerging alternatives in the market, highlighting the broader implications for both investors and financial stability. This information is suitable for wholesale investors only and has been produced by Coolabah Capital Institutional Investments Pty Ltd ACN 605806059, which holds Australian Financial Services Licence No. 482238 (CCII)…

People in this episode

Hosts: Christopher Joye, Ying Yi

Topics covered

  • hybrid market
  • global shifts
  • investment risks
  • financial stability
  • Aussie investors

Keywords

  • hybrid securities
  • investment problems
  • financial markets
  • Aussie investors
  • Credit Suisse write-off
  • APRA
  • New Zealand proposal

Mentioned in this episode

Organizations: Coolabah Capital, Credit Suisse, APRA

Places: Australia, New Zealand

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