The Exchange by EW&L Private Wealth

Let us know your thoughts, questions, and who you want to hear from next!In this podcast, EW&L Partner Ryan Loehr speaks with Matthew O’Mara from Apollo Global. Matt is a Partner of Apollo’s Insurance Solutions Group and has responsibility for leading its democratised private market capability globally. For those unfamiliar with Apollo, it is regarded as one of the most reputable private equity and private credit managers in the world. A key differentiator for Apollo is its alignment with investors, with approximately half of its $600B in AUM invested from its own balance sheet, alongside investors. Private Markets are an area that has traditionally been restricted to the largest professional and institutional investors, but managers (including Apollo) are increasingly innovating via new structures to provide private investors with new access points. ‘Alternatives’ or private market opportunities are increasingly playing a more important role in investor portfolios and for anyone looking to understand more about this asset class, this episode provides valuable insights.Disclaimer: The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next!In this episode managing partner, Tim Whybourne catches up with Dominic Woolrych the Co-Founder and CEO of Law Path. They sit down to discuss everything from what it was like in the early days, stepping out of a secure career at a large law firm to a start-up all while running another side hustle, which has gone on to achieve more than 1m in revenue per annum. Law Path now services 400,000 small to medium-sized businesses in Australia by providing accessible legal solutions in a scalable format. They have been recognised among the top 10 legal start-ups in Australia and the top 50 globally.Disclaimer: The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next!In this episode, Ryan Loehr speaks with Nick Cregan, Founder and Portfolio Manager at Fairlight Asset Management.Fairlight Asset Management is a preeminent global small-mid cap manager responsible for managing A$1B. Despite the youth of the firm, the group has quickly established a formidable reputation locally with a tight-knit investment team that each brings a long and successful track record in the segment. Nick has previously held senior positions with Evans and Partners, managing a global equity strategy awarded “best global fund” in 2016 and top decile performance since inception. He also worked in New York and London with Schroders, as a Senior Analyst of the US $7bn small mid cap fund, responsible for a fourth of its assets. Closer to home, Nick ran an Australian Microcap equities strategy, with 11% per annum outperformance over five years. As Bloomberg published in June 2023, the Fairlight strategy was up 24% for the year, outperforming 97% of global equity peers.  I wanted to speak to Nick because as often occurs in environments like we witnessed in 2022, there is a widening gap between large and mega cap valuations relative to small-mid cap constituents. This can create outsized opportunities. Investors incorrectly assume that smaller means riskier, which isn’t always the case. In 2023, we have witnessed US markets rally, with the S&P500 up circa 20% year to date. However, of this, the 5-largest technology names have driven most of this return, largely on the back of AI-related optimism. Valuations do matter, and ultimately drive long-term value. Many large and mega cap names now look expensive, well above their long-term average. while small-mids look increasingly attractive, well below these multiples. For meaningful diversification, Small-Mids can play a critical role in portfolios. Nick and I talk about the importance of having a clear investment philosophy, strict valuation discipline, and how investors can get exposure to exciting thematics without the excessive price tag.Disclaimer: The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next!In today’s episode, Managing Partner, Tim Whybourne caught up with Jack Neureuter from the Fidelity Digital asset team based out of Boston. They discussed everything from how he got started in the space, the level of institutional demand for Crypto, the investment case for Bitcoin and Ethereum and why they shouldn’t be ignored to debunking some of the most common myths we hear about crypto assets.Jack Neureuter is a Senior Research Analyst for the Fidelity Digital Assets team. He spends his day-to-day researching, writing, and speaking with institutional clients about macroeconomics and the digital asset ecosystem that is emerging, hoping to help increase comfort levels and bridge the knowledge gaps that exist between traditional asset managers and the digital asset space.Prior to his current role, he spent time working on the curriculum team for the Chartered Alternative Investment Analyst Association (CAIA) and with Fidelity’s Prime Brokerage team creating portfolio analytics tools for hedge fund investors. Jack graduated from the Honours College at the University of Massachusetts Amherst with a degree in finance and economics.Disclaimer: The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next!Our longer lives and increased wealth have taken the traditional area of estate planning to a whole new dimension. When you add other layers of life, including superannuation, blended families, family trusts and businesses, downsizing, aged care, later life singlehood and disinheriting, just to mention a few, what used to be a neat and tidy landscape is now far more abstract.  Confronting our future and planning for, and documenting, it has never been more important. Doing nothing about it is an option. If you choose this option, at least understand what it means for your family after you’ve departed. It’s not just what it means for the passing of your wealth but, far more significantly, the effect on relationships within your family. That can be the real legacy of avoidance.In this Webinar, Brian Herd from Hopgood Ganim will bring his over 40 years of experience in the field addressing the downsides of doing nothing and the upsides of doing something and how to do that something well. He will explore what makes a good will as opposed to a bad one, how to deal with related entities like trusts and the importance of other documents, such as the Enduring Power of Attorney. It will be riveting and motivating.Disclaimer: The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next!In this episode, Ryan speaks with Matt Vitale the CEO and co-found of Birchal. Birchal is Australia’s leading crowdfunding platform, which has supported approximately 200 businesses in raising the capital they need to scale.Crowd or community funding platforms are providing a new source of growth capital for entrepreneurs and in the process, are playing a critical role in supporting next generation of Australian businesses.Today’s start-ups could be tomorrow’s Titans. Great ideas need early funding to scale, and often this is out of reach for businesses who cannot appeal to venture or growth managers.Some of our own clients, were able to grow their business on the back of successful community funding campaigns and went on to become leaders in their respective industry. Similarly, top-tier VC funds in Australia have also participated in community rounds via Birchal, reflecting the developing ecosystem. Equally, on the investment side, Crowdfunding can democratise access to an asset class that is otherwise limited to professional or institutional investors.This episode is an invaluable listen for founders of high-growth businesses, and investors with an interest in supporting early-stage, Australian companies.Disclaimer: The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next!In today’s episode, we catch up with Saxon Phipps from Year13, one of the portfolio companies of Future Now Ventures. We discuss everything from how the business started whilst they were all moonlighting as bartenders, how it got to where it is today to how important it is to have a good team of mentors around you. Year13 are solving a huge problem for our kids, so we hope you enjoyed the insights into one of the leaders of this groundbreaking education tech company.Saxon Phipps is one of the founders and CEOs of Year13, an Australian EdTech powerhouse, committed to upgrading the school-to-work transition and empowering individuals to embrace a future of hope, security, and productivity. Since experiencing the loss of a friend as a result of the insurmountable pressures that young people face when finishing school, Saxon, along with his Co-Founder, Will Stubley, has dedicated over 15 years of their lives to supporting young people, striving to close the gap on a 20th-century approach to career-related learning and transition to a skills-based economy. Saxon and the team at Year13 have been able to successfully apply this process to work with over 1300 schools across Australia and create several youth engagement strategies and programs for the likes of the Department of Employment and Workplace Relations, the Digital Skills Organisation, Engineers Australia, and Westpac. Year13 also have active partnerships with the likes of NSW, ACT and SA Governments. Saxon regularly speaks at events about youth issues such as The Australian Financial Review - Higher Education Summit, Australian Davos Connection - Future of Education Summits, and is also on the advisory board to the National Careers Institute - an initiative of the Federal Governments Department of Education Skills and Employment.Disclaimer: The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next!In today’s episode, Managing Partner Tim Whybourne chats with Ben James from Ballie Gifford about the opportunity in disruptive technology and how Baillie Gifford has a different approach to most managers. We discuss everything from how to identify stocks that could be the next Google or Amazon to the opportunity in crypto and autonomous vehicles.Baillie Gifford & Co is an investment management firm that is wholly owned by partners, all of whom work within the firm. It was founded in Edinburgh, Scotland, in 1908 and still has its headquarters in the city. It has corporate offices in New York and London. They have around 270 bn $USD under management. Ben is a Director and Investment Specialist for the equity strategy and Scottish Mortgage. He is a member of the US Equity Product Group. He joined Baillie Gifford in July 2015. Before his career in finance, Ben was an Infantry Officer in the British Army for eight years. During his service, he completed two combat tours of Afghanistan. Prior to this, Ben spent four years working as a professional musician. Ben graduated with a master’s in international development with a focus on sustainable investing and a BMus (Hons) in Music, both from The University of Birmingham.Disclaimer: The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next!Our partners, Craig, Tim, and Ryan regroup after staging their mid-year leave. It’s been another eventful financial year, with Wall Street analysts forced back to their drawing boards. Equity markets have rallied strongly, particularly year to date - despite lower earnings, and challenging economic conditions. Indicators increasingly suggest that inflation has, or is about to peak, with the potential for 1-2 rate increases locally and in the US before settling. What does this mean for markets? We cover the US Credit rating downgrade, China’s slowing growth, opportunities in fixed income, household financial health, SEC vs. Crypto developments, and personal investment interests.Disclaimer: The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next!Today’s podcast is a recording of a webinar we hosted for clients in late July 2023. On the recording, we discussed everything from what is Bitcoin and Ethereum, how they translate to investment opportunities in the real world and the significant investment potential they offer to a balanced portfolio by adding their institutional-grade Digital Asset Fund.Trovio is a diversified business founded in 2017 offering three main services. The first being technology solutions, this actually allows them to consult with industry and government and be at the forefront of change in the digital sector for Australia. The second being physical digital asset management and the third being strategic investment in digital asset businesses.We were joined by both Vimal Gor and Thomas Ciszewski. Vimal is one of the Co-Portfolio Managers for the Digital asset fund and has over 28 years of asset management experience. Prior to joining Trovio, he spent 13 years at ASX listed Pendal Group as the Head of Bond, Income & Defensive Strategies (BIDS). At Pendal he raised over $10billon in FUM to manage a total of $22billion in assets. Prior to Pendal, he spent 10 years at Aviva Investors in London and Scottish Mutual and Murray Johnstone in Scotland. Thomas is the Co-Portfolio Manager for Digital Asset Fund. He has over 25 years of experience in portfolio management and strategy development, having previously worked at Pendal Group, SouthPeak Investment Management, Macquarie and Deutsche Bank.Disclaimer: The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.