The Portfolio Construction Podcast

In this episode of the Portfolio Construction podcast, Paul O'Connor, Head of Investments at Netwealth, interviews to Brett Lewthwaite, Chief Investment Officer and Global Head of Fixed Income at Macquarie Asset Management. They explore the current and future dynamics of bond markets, inflation and interest rates, and how they shape the global economic outlook and financial conditions. They also d...

The healthcare industry is undergoing significant change due to increased demand from population growth, advancing medical services, and an ageing population, and as such healthcare real estate represents investment opportunities for some. In this podcast episode, Paul O'Connor, Head of Investments, Netwealth, interviews Andrew Hemming, the Managing Director of Centuria Healthcare. Andrew and Paul...

In this episode, Paul O'Connor, Head of Investments at Netwealth, interviews Chi Lo, the Senior Market Strategist, APAC at BNP Paribas Asset Management. Together they unpack China's economic outlook including its recent growth slowdown, policy stances, the global impact of China's recovery, the demographic trends challenging the country and the implications this has on investors and more.

In this podcast episode, Paul O'Connor, Head of Investment Management at Netwealth, and Amit Goel, Portfolio Manager at Fidelity International, explore the intricacies of emerging market equities. They discuss the diverse nature of emerging markets, highlighting the differences amongst countries, including varying demographic, social, and evolving economic conditions. They also discuss potentially...

Green bonds have gained attention due to their alignment with ESG goals, making them a key consideration for environmentally and socially conscious investors. In this podcast episode, Paul O'Connor, Head of Investment Management at Netwealth and George Bishay, Head of Credit and Sustainable Strategies at Pendal Group delve into the universe of green bonds. Their discussion explores the role of gre...

In recent years, private markets have become more widely used and easier to access due to the rise of online platforms and increasingly sophisticated investors. In this podcast episode, Paul O'Connor, Head of Investment Management at Netwealth, and Roberto Cagnati, Chief Risk Officer at Partners Group, discuss the advantages of private markets compared to listed markets, including private equity,...

In this episode, Paul O'Connor, Netwealth's Head of Investment Management, interviews Don Huber, Senior Vice President, and Portfolio Manager at Franklin Templeton. Given the recent volatility in equity markets, Don provides his views, with an emphasis on growth stocks. He unpacks the impact of inflation on growth stock valuations and identifies potential opportunities for long-term investors. He...

In this episode, Aaditya Thakur, Senior Vice President and Portfolio Manager at PIMCO, joins us to unpack the reasons why 2022 was such a challenging year for fixed interests and how this impacts 2023 and beyond. He explores inflation, recession risks, the implications of China reopening, as well as the positive developments in the market and what this means for fixed interests and investors const...

With the end of most central bank's quantitative easing programs and the normalisation of cash rates, is now the time to buy bonds again and to increase duration positioning in portfolios? Since central banks commenced explicitly targeting inflation in the mid 1980's, cash rates and bond yields have fallen creating an environment where fixed interest portfolios have been predominantly long bonds b...

As the world moves to net zero emissions, natural resources companies will be crucial in facilitating the production and development of renewable, and low carbon energy sources. In this episode, Tim Gerrard, Portfolio Manager at Janus Henderson, shares his investment strategy for net zero emissions and provides some examples of 'traditional' resource companies and the positive steps they are takin...

The resilience of Australia's economy is about to be tested with strong commodity prices providing some insulation as the RBA becomes increasingly hawkish. WaveStone Capital's Portfolio Manager Catherine Allfrey joins the show to discusses the divergent paths for resources, financials and industrials and the opportunities available to investors as the interest rate cycle normalises.

2022 has finally seen a surge in inflation across developed countries and the big question now is whether this is structural or more transitory. In this episode, we chat with Brett Lewthwaite, Senior Managing Director, Chief Investment Officer, and Global Head of Fixed Income at Macquarie Asset Management, to discuss supply shocks, the changing role of central banks and what it all means for bond...

Investor concerns about inflation and rising interest rates are likely exacerbating selloffs and volatility in certain segments of the Australian share market. In this episode, Dushko Bajic, Head of Australian Equities Growth at First Sentier Investors unpacks some of the risks ahead and shares some potential investment opportunities for investors.

The pandemic, geopolitical tensions, and international conflicts have disrupted supply chains and have led to unprecedented monetary policies, the full effects of which we are now learning to navigate. In this episode, we hear from Uwe Helmes, Investment Strategies at Blackrock, as he discusses the many nuances of inflation, BlackRock's recently completed annual Capital Market Assumptions which lo...

Equity markets have had a great run over the last decade and have provided investors with very strong returns. But now risk globally has risen due to the tragedy of events unfolding in Ukraine, increased Western countries' tensions with China, and the recent spike in inflation. In this episode of the podcast, Jeff Mueller, a former US Marine, and a co-portfolio manager of the Global Growth Fund at...

In this episode, Paul is joined by Chris Smith, Portfolio Manager at Intermede Investment Partners, to discuss some of the opportunities and challenges facing global equity markets. With markets being at all-time highs, Paul and Chris address rising inflation concerns, geopolitical risks, emerging markets, ESG, and the importance of finding companies with a demonstrated sustainable competitive adv...

Retirees have traditionally relied on fixed interest and cash allocations in their portfolios to provide sufficient income for life. But the yield or the income return from these defensive asset classes has fallen significantly over the last decade, creating a disconnect between our understanding of income and the traditional risk/return theory. The impact of COVID 19, the global economic slowdown...

Interest in Environmental, Social and Governance investment strategies has grown significantly over the last three year as more investors look for long-term sustainable growth that is align to their personal values. However, the management of ESG strategies varies significantly from active and passive strategies to negative and positive screens. In this episode, we break down the global trends in...

Australian Real Estate Investment Trusts (AREITs) have been one the biggest beneficiaries of the changing economy over the last 12 months. In this episode, we chat with Justin Pica, Regional Portfolio Manager at CBRE Investment Management, to discuss the future of the office sector, the advent of online shopping, the rise of inflation, and active management. We also explore upcoming challenges and...

Accessing unlisted infrastructure, like airports and toll roads, can be challenging due to the large capital outlay required. In this episode, we chat with Rory Shapiro, Associate Director at AMP Capital, to explore how investors can generate cashflow with less volatility using unlisted infrastructure. Learn how infrastructure responds to rising inflation and discover the outlook and emerging oppo...

In this episode, we explore the factors driving performance in the global small and mid cap sector and its future outlook with James Abela and Maroun Younes from Fidelity. Discover the opportunities outside of Australia and why more investors should consider a global small and mid cap strategy.

Bond markets are adjusting after yields moved sharply higher in the first quarter of 2021. Schroders Fund Manager Kellie Wood explores the trends set to shape markets in 2021, and explains why she believes the repricing of bonds represents a healthy reset.

Kej Somaia, Co-Head of Multi-asset Solutions at First Sentier,  outlines the importance of dynamic multi-asset portfolios when investing. We discuss inflation, bond yields, active vs passive strategies, and ethical investing. Kej also shares his thoughts on the next 10 year returns for fixed income and equities given the strong returns of the last decade.

Mark Mazzerella, Portfolio Manager at APN Property Group, provides the key attractions of global property REITs for income focused investors, and the unique opportunities presented by the recent pandemic.

Arnaud Brillois, Managing Director and Portfolio Manager/Analyst on the Lazard Global Convertibles team, shares his knowledge on convertible bonds and how they differ from vanilla equity or debt. Learn about the benefits of convexity, and how you can protect your investment portfolio from volatility.