Cross-asset research, and managed accounts run to your mandate.
Macro, Australian and global equities, managed funds, ETFs, hybrids and listed property, covered in-house and published to a schedule you can plan around. The same research drives the discretionary portfolios on the platforms you already use.
Cross-asset research and discretionary portfolios.
What research clients get is what the portfolios are built on, so the note you read and the position we hold say the same thing.
Independent cross-asset research, on a set cadence
Written for people who have investment decisions to make. Each piece opens with the question, shows the evidence, states the bottom line and sets out what would change it. No manager pays for coverage, there are no paid ratings, and there is no trading desk.
- Morning Report before the open
- Intraday updates when markets or the facts move
- Weekly valuations across ASX-listed hybrids, A-REITs and listed investment companies
- Australian and global equity research and focus lists
- ETF and managed fund research
- Monthly Market Wrap, client newsletter and Investment Series webinar
- Quarterly macro review and asset allocation
- Meeting, trip and thematic research as the work warrants it
- $300 + GST per adviser per month. One tier, the whole suite.
Discretionary portfolios, run to your mandate
We manage asset allocation, security selection and rebalancing across Australian equities, global equities and multi-asset. The mandate sets the boundaries before capital is put to work. Authority and custody stay with you throughout.
- Eighteen strategies across Australian equities, global equities and multi-asset
- SMA models across a book or an IMA written for one portfolio
- Active and ETF-only approaches where the mandate calls for them
- Investment universe, risk limits and liquidity requirements agreed before implementation
- Position sizing shaped by downside, liquidity and concentration
- Monthly attribution and quarterly portfolio review
- Implemented on HUB24, Netwealth, Macquarie Wrap, MLC, Praemium, Dash, Powerwrap and other suitable platforms
- 0.25% of FUM p.a. No performance fee.
Six principles.
They govern how we size risk, construct portfolios and decide what deserves capital.
Compounding first
A 40% loss needs a 67% gain to get back to even. Protecting the capital base matters because every future return compounds from what survives the drawdown.
Non-binary portfolios
A view can be right and still deserve a small position. Size reflects what we can establish, the downside if we are wrong and the liquidity available if we need to change it.
Barbell construction
The core is built to compound over years. Smaller satellite positions are reserved for opportunities with enough return potential or diversification value to matter at portfolio level.
Unconstrained
Within the mandate, a view can be expressed through equities, listed credit, managed funds, ETFs or hybrids. The instrument follows the work.
Benchmark-unaware
Index weights are information. Position sizes come from the investment case, the mandate and the risk budget, even when that creates meaningful tracking error.
Downside awareness
Corrections recur and their timing is uncertain. Liquidity, concentration and days-to-exit are considered before the position size is set.
A decade of live money.
Returns since each strategy started, through the COVID shock, the 2022 rate cycle and the recovery. Live money throughout, and each of the four beat its market proxy on less volatility than the proxy carried.
+1.4% excess return over the proxy since inception.
+1.2% excess return over the proxy since inception.
+1.2% excess return, with three points less volatility in the part of the market where volatility is highest.
+1.5% excess return over the proxy since inception.
Important disclosures The four equity strategies shown are four of eighteen strategies we run across four families. Returns across the full set range from 4.2% to 16.6% per annum since their respective inceptions, and the complete table is available on request. Returns and volatility sourced from PORT Bloomberg, total return, as at 31 October 2025, since strategy inception. Volatility is standard deviation since inception. Market proxy is the most relevant ASX-listed ETF, shown for illustrative comparison. Excess return is the difference between the strategy return and the proxy return and is not risk-adjusted alpha. Inception dates differ by strategy, so returns are not directly comparable with each other. Past performance is not a reliable indicator of future performance. This information is general in nature and is provided to wholesale and professional investors only.
Three investment managers, together since 2015.
Chhai Ung, Zach Riaz and Gaurav Singla founded Banyantree and remain responsible for the research, portfolio decisions and client discussions. There is no separate layer between the investment team and the people you deal with..
Portfolio management, global equities and mandate governance. Previously fund manager on the Australian small-cap portfolio and head of the Australian trading desk at Aberdeen Asset Management. Earlier, REITs investment banking at Morgan Stanley. Admitted solicitor of the Supreme Court of New South Wales.
Investment research, equity coverage and hybrid securities. Previously lead analyst for Australian equities and ASX-listed hybrids at Insignia Financial. Earlier, equity research at RBC Capital Markets. MBA in Finance from MGSM and a Masters of Commerce with Honours from UNSW.
Equity research, financial modelling and manager due diligence. Previously a financial accountant inside an operating company, preparing statements and presenting quarterly to senior management. Earlier, financial modelling and derivative hedging at a stockbroking firm. CFA Charterholder.
What we think, see, hear, and publish elsewhere.
Eleven Months of Risk Reports on One Profitable Client
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The Paycheque That Buys the Market
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Where the Liquidity Promise Is Actually Written
Private credit funds describe redemption terms in marketing language and in constituent documents. The two do not always agree, and only one of them binds.
Tell us what you're looking for.
Cross-asset research, discretionary portfolio management, or both. Tell us enough about what you're trying to do to make the first conversation useful. We'll tell you whether Banyantree is a good fit.