Macquarie Group lifts outlook heading for record year

Macquarie Group's incoming chief executive has declared confidence in the outlook for real assets in an environment of rising bond yields, rejecting the conventional view that such conditions are negative for the asset class.

Shemara Wikramanayake, who is readying to take over from Nicholas Moore this month, is being elevated to the top job from her role as head of the $500 billion Macquarie Asset Management business. That has made her a global authority on the booming infrastructure and real assets sector, one of the areas of investing where Macquarie has been credited with a pioneering role.