Issue 02 — October 2026

The new alternatives are engineered in the plumbing, not the payoff

How inflation, interest rates and changing capital rules are shaping alternative investments. This edition examines fund flows, new managers and ten product structures, with Australia first, a US focus and developments globally. It also reviews Australian listed alternatives, liquidity terms and the risks investors retain.

Original edition: October 2026 · Issue 02 · 34 pages. Information to 12 October 2026; ASX closes to 9 October; Metrics status clarified on 13 October. Website release: 18 October 2026 (Sydney).

General, impersonal market commentary for a wholesale and professional readership, including U.S. readers. No fund rating, personal financial advice, recommendation or product offer. Product examples do not establish suitability or availability in any jurisdiction. Preserve the full source limitations and relationship disclosures on pages 27 and 34.