Money Maze Podcast

In this conversation, we have the opportunity to talk to Alex Rodriguez, or ‘A Rod’ as he is better known, arguably the greatest baseball player of his generation. The discussion moves from how he came to dominate his sport to developing a substantial portfolio of investments and businesses through his investment firm, A-Rod Corp. Alex discusses the early years growing up in Manhattan, his love of baseball and becoming the top prospect in the country, and turning down a university scholarship to sign as a professional. He discusses how Warren Buffett gave him invaluable advice, becoming increasingly involved in real estate and venture, and how he assembles his team. He discusses investment priorities, sifting from the range of opportunities presented, culture, ambition, lessons from sport, and what the future holds. Sign up to our newsletter for more in-depth insights | Follow us on LinkedIn The Money Maze Podcast is kindly sponsored by Schroders,  Bremont Watches, LiveTrade and Mintus.

Some of tomorrow’s large companies are today’s emerging ones, and in this miniseries we explore the world of venture capital and look at a handful of organisations that operate at a lower level in terms of size, but who are providing critical capital to early and growth-stage companies. In episode 2 of the series, we’re pleased to feature Roberto Italia, CEO of the global, evergreen investment company, Verlinvest. Verlinvest’s portfolio brands include Oatly, Pedego, Purplle.com, Vita Coco, Chewy.com and Tony’s Chocolonely to name a few, and is backed by the families behind AB InBev (the Belgium-based brewing multinational). The discussion covers developing the Oatly brand, investment holding periods, potential exits, consumers’ changing appetites, and the challenges around supply chain re-ordering. Roberto also discusses the headwinds of dealing with inflation, the key takeaways from past investments and the exciting landscape ahead. Sign up to our newsletter for more in-depth insights | Follow us on LinkedIn The Money Maze Podcast is kindly sponsored by Schroders,  Bremont Watches, LiveTrade and Mintus.

In the first episode of our 4-part Venture Capital Miniseries, we are thrilled to feature Dame Kate Bingham, Managing Partner of SV Health Investors and former Chair of the UK Vaccine Taskforce. The much anticipated interview begins with a high level overview of the immense changes that are taking place in the world of medical research which have allowed us to move from treating symptoms to changing the way the body works. Kate describes the various leaps forward across medical conditions and the role SV Health Investors is playing to facilitate this. She discusses their approach, challenges, opportunities and the skills needed to improve the odds of success. She then talks about research excellence, the hurdles in building large biotech enterprises and what the future industry landscape may look like. The conversation then switches to her role as Chair of the Vaccine Taskforce, set up in April 2020 under Boris Johnson to co-ordinate the creation and distribution of a COVID-19 vaccine (both in the UK and internationally). She reflects on the obstacles encountered and path to the successful execution of the group’s objectives. Sign up to our newsletter for more in-depth insights | Follow us on LinkedIn The Money Maze Podcast is kindly sponsored by Schroders,  Bremont Watches, LiveTrade and Mintus.

As the Money Maze Podcast seeks to understand both the business and investment worlds, especially against the backdrop of a tougher economic environment, we are delighted to speak to Martin Waters, CEO of Victoria’s Secret & Co (VS&Co). Martin begins by explaining his retailing journey, Victoria’s Secret’s history and evolution, as well as the challenges and opportunities that lie ahead. Spun off from L Brands in 2021, the Fortune 500 lingerie and beauty retailer is known for its high visibility marketing and annual fashion shows. They have over 1,350 stores globally and more than 30,000 employees. Martin explains how it is adapting both to the economic climate as well as the issues specific to managing a world leading fashion and beauty retailer. He discusses the vision for the company, its values, their multichannel distribution strategy, and the risks and rewards of brand extension. He then analyses this competitive market, the changes taking across retail, and how their board is composed. With 7/8 of their board being female, Martin explains how valuable women are in helping him think about strategy, and why he is so excited about the future. Sign up to our newsletter for more in-depth insights | Follow us on LinkedIn The Money Maze Podcast is kindly sponsored by Schroders,  Bremont Watches, LiveTrade and Mintus.

In this discussion we examine the changing world of investment funds and the data ecosystems that surround them. To explore this, we are delighted to welcome Laura González, Head of the Americas at Allfunds, one of the world's leading wealthtech companies, who offer the largest fund distribution network globally. Created in 2000, today Allfunds have approximately €1.3tn in assets under administration (as of 30/09/22), 16 offices across the globe and nearly 1,000 employees, with a strong footprint in Latin America. She explains how fund houses use their platform to expand their reach, how private banks and other users of funds can access their platform and reduce the challenges around fund onboarding. The discussion covers the growth of private assets, institutional and individual asset allocations to this space, and the shifts underway. Laura then discusses the cyclical component often overlooked in the active versus passive debate, how blockchain is being used by them, and thoughts on the Latin American investment universe (from both those looking in and those allocating outside). Finally, she discusses the merits of being part of a listed company, managing cultural integration and gives some potent advice for women seeking careers in finance. She also describes how yoga and surfing give balance and joy to her life! Sign up to our newsletter for more in-depth insights | Follow us on LinkedIn The Money Maze Podcast is kindly sponsored by Schroders,  Bremont Watches, LiveTrade and Mintus.

In Shakespeare’s Hamlet, Polonius counsels his son Laertes, exclaiming: “Neither a borrower nor a lender be; for loan oft loses both itself and friend”. If you’ve been a fixed income investor this year, you are nursing your wounds and might have wished you heeded this advice! At a global level we’ve seen over a decade of nominal bond returns wiped out for the first time since the early 1950s. Therefore this seems a good time to discuss fixed income, and to do so with PGIM Fixed Income, who manage $790 billion in bonds (as of 30/06/22). Greg explains his perspective of the flaws in the 60/40 model, before reviewing the question of whether and where the bond rout has created opportunity across the spectrum. He discusses government, corporate credit, emerging market debt, and index-linked bonds. He describes why the Fed may remain more hawkish than consensus believes, why restoring “yield” is a good thing, and explains how active fixed income management has delivered more consistent outperformance versus benchmarks (unlike the world of equity management!). Sign up to our newsletter for more in-depth insights | Follow us on LinkedIn The Money Maze Podcast is kindly sponsored by Schroders,  Bremont Watches, LiveTrade and Mintus. DISCLAIMER: The Money Maze Podcast covers views, opinions and recommendations of other investment managers which may not represent the views of PGIM. The views expressed by PGIM is not intended to constitute investment advice, were accurate at the time of recording and are subject to change.

In this episode, we welcome Peter Oppenheimer from Goldman Sachs, who discusses the challenging investment landscape. He starts with an overview of economic growth before unpicking the inflation debate, reviewing rates and the emergence of opportunities in fixed income, before discussing equity markets. He explains why active equity managers are back, why value versus growth discussions are too simplified and the likely character of this bear market. Finally Peter discusses the commodity supercycle, localisation of production and to quote Ian Dury, “reasons to be cheerful” in the medium term! Sign up to our newsletter for more in-depth insights | Follow us on LinkedIn The Money Maze Podcast is kindly sponsored by Schroders,  Bremont Watches, LiveTrade and Mintus.

In this different podcast for us, we talk to Justin Byam Shaw, who set up The Felix Project in 2016 after the tragic death of his 14 year old son. The charity redistributes surplus food (that would otherwise go to waste) from 539 suppliers and delivers it to almost 1,000 charities, primary schools and holiday programmes. Justin starts by describing his own career following Oxford University, his first early success, building and selling a media business, through to buying The Independent - a then failing newspaper - and turning it into the huge success it is today. The conversation then pivots to The Felix Foundation and its genesis. Justin describes the acute food waste problem in this country and the vast food poverty which surrounds us. He explains the supply and demand dynamics of food waste, the logistical challenges they have overcome, and the ways in which both organisations and people can help every day. Finally, Justin offers thoughts on the shifting sands in the world of media, advice for young people considering becoming entrepreneurs, and the why good management is often more valuable than a new idea. Sign up to our newsletter for more in-depth insights | Follow us on LinkedIn The Money Maze Podcast is kindly sponsored by Schroders,  Bremont Watches, LiveTrade and Mintus.

Our guest in this episode is Anne Richards CVO, CBE, FRSE, and CEO of Fidelity International. Fidelity International offers investment solutions and retirement expertise to more than 2.85 million customers globally. Fidelity International operates in more than 20 countries and with $665.2 billion in total assets (as of 30/06/22) their clients range from central banks, sovereign wealth funds, large corporates, financial institutions, insurers and wealth managers, to private individuals. Anne begins by describing her upbringing in Edinburgh, the decision to study electronic and electrical engineering, spending time at CERN, before going to INSEAD for an MBA. She then describes the purpose of Fidelity International and the changing demands of the investing population. Anne discusses the ability of technology to serve clients, developing a culture that embraces and encourages the “brave, bold, curious and compassionate”, before explaining how ESG principles are embedded into all their research work. She talks about the decline of public market listings, the importance of research in public and private investing, and giving their managers enough room for manoeuvre. Finally, she talks about her drive and hunger to have more women work in finance and shares some career tips. Originally recorded in February 2021. Sign up to our newsletter for more in-depth insights |  Follow us on LinkedIn The Money Maze Podcast is kindly sponsored by Schroders,  Bremont Watches, LiveTrade and Mintus.

Founded in Chicago in 1889, Northern Trust has expanded from providing wealth solutions to include asset servicing, asset management and banking to investors worldwide. It now has assets under management of USD $1.3 trillion and assets under custody of USD $13.7 trillion (as of 30/06/22) In this episode, we welcome Marie Dzanis, born and brought up in the US, now in the UK, who explains Northern Trust’s evolution from fiduciary and custodian to a significant global investment manager. She explains their move into specialized ETFs under their ‘FlexShares’ brand, and their specific approach to ESG and sustainable investing (they have the largest ESG mutual fund in Europe). She also discusses their private equity ETF as well as their quant-active approach. Marie continues by discussing the challenge of increasing the female representation in the investment world, her rules for hiring, the changing shape of investment management and finally why Sir Ernest Shackleton is her hero. Sign up to our newsletter for more in-depth insights | Follow us on LinkedIn The Money Maze Podcast is kindly sponsored by Schroders,  Bremont Watches, LiveTrade and Mintus.