The Exchange by EW&L Private Wealth

In this episode of The Exchange, we speak to Charles Hamieh who leads the ClearBridge Investments Infrastructure Team based in Sydney. The outlook for global listed infrastructure and the differences between listed and unlisted infrastructure are discussed. The most exciting opportunities in the asset class are looked at along with what differentiates ClearBridge’s approach to infrastructure investing. ClearBridge Investments is a global equity manager committed to delivering long-term results through active management and ESG integration. They have been operating for over 60 years and now have over US$151bn under management. Charles has responsibility for the leadership and management of ClearBridge’s Global Listed Infrastructure Investment Team. As a Portfolio Manager, Charles is a member of the investment committees responsible for all global listed infrastructure strategies. Charles is also a member of ClearBridge’s Australian-based Leadership Team and has 25 years of investment industry experience in infrastructure across several market-leading firms.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.

In this episode Craig, Tim and Ryan discuss current events ranging from the recent collapse of Silicon Valley Bank, the aggressive re-rating of Credit Suisse equity and Credit Default Swaps and the recently proposed changes to the Superannuation cap rules. They also provide their thoughts on what is to follow in markets for the year.  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.

In this podcast, Ryan speaks with the Chief Market Strategist of Lazard Asset Management, Ron Temple. Lazard is a global investment powerhouse, and financial advisory business responsible for managing over $200B in USD terms. Ron brings a tremendous amount of thought leadership and an invaluable amount of knowledge in markets. This includes a unique perspective on global conflict and geopolitics given his involvement in Lazard’s Geopolitical Advisory Committee. Ron regularly consults with Government, institutions, and Fortune 500 CEOs. We cover a lot in this session. Inflation, monetary policy, recession, geopolitics, supply chains, corporate earnings, and where to find relative value.Ron provides his perspective on key risks that are not being adequately priced in markets, such as the reality that inflation may remain structurally higher than in previous decades. Driven by fractured geopolitical relationships, climate change and other long-term thematic drivers. He also points to attractive shorter-duration assets across debt, equities, and explains the potential benefits of positioning conservatively in this environment, exploiting pockets of opportunity as they arise.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.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.

Grant Hackett OAM is best known for representing Australia at the Olympic games in Swimming in the early 2000’s. He won a series of Olympic Medals spanning from the 2000 Olympics through to his retirement from Swimming in 2008. Over his swimming career he held 16 world records and received the Order of Australia medal, Australian Sport Medal and the centenary model for his achievements and is a member of the sports Australia Hall of Fame.After his retirement from swimming, he pursued a career in finance and holds an executive Master of Business Administration with first class honours, a diploma of financial services and is a graduate of the Australian Institute of Company directors. Grant has held several positions in finance with over 15 years of experience in senior positions across both Westpac and BT Financial Group. He joined the Generation Development life executive team in September 2017 and was promoted to CEO in 2018. Since then, he has driven 29% compound annual growth in sales and over 43% compound annual growth in Net Profit for the group. In today’s episode, we discuss the secret to Grant's success and how he ended up leading one of Australia’s largest insurance bond companies. We discussed the mechanics of how these bonds work, who they are designed to help and why they are gaining in popularity in recent years.  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.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.

In today’s episode of the Exchange, we caught up with Cathie Wood of Ark invest (St Petersburg, Florida) to discuss her annual “Big Ideas” research piece which highlights some sectors within disruptive innovation they believe will grow in excess of 40% per annum over the next decade.With over 40 years of experience identifying and investing in innovation, Cathie founded ARK to focus solely on disruptive innovation while adding new dimensions to research. Through an open approach that cuts across sectors, market capitalizations, and geographies, Cathie believes that ARK can identify large-scale investment opportunities in the public markets resulting from technological innovations centred around DNA sequencing, robotics, artificial intelligence, energy storage, and blockchain technology. As Chief Investment Officer (“CIO”) and Portfolio Manager, Cathie led the development of ARK’s philosophy and investment approach and has ultimate responsibility for investment decisions.ARK Invest believes Innovation is key to long-term growth. Cathie Wood has been quoted as saying “Innovation will displace industry incumbents, increase efficiencies, and gain majority market share. More importantly, disruptive innovation impacts and concerns all of our lives.” Cathie will be touching on their annual Big Ideas publication as well as providing her thoughts as to why the time is right to be investing in innovation now.  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.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.

In this episode, hear from Peter Bates (Baltimore, Maryland), Portfolio Manager with T Rowe Price, one of the World’s largest asset managers. T Rowe manages more than US$ 1.6 trillion in assets across 16 countries, employing more than 7,300 staff. T Rowe has been awarded multiple times Global Fund Manager of the year, most recently during the difficult year of 2021. Peter holds an MBA from World’s most respected business school, the Wharton School.We discuss with Peter what drives investment success, the thought processes behind building a successful long-term portfolio, as well as just what might the World economy look like by Christmas 2023.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.

In this episode, EWL Partners – Craig, Tim and Ryan catch up post Craig’s move back to Sydney, with the doors of our new office now open at number 4 Martin Place in Sydney. Craig, Tim, and Ryan reflect on the year that 2022 was, with one of the fastest rate hiking cycles in history resetting valuations across all asset classes. With that backdrop, the partners share their views on the lessons learned, their investment views for 2023, and key risks and opportunities that should be considered by investors. We talk through inflation, corporate earnings expectations, job cuts, asset allocation preferences, as well as topical events such as Microsoft’s investment in Open ai’s Chat GPT, and what the reopening of China means for the global economy. Don’t miss this episode!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.

To combat 40-year high inflation, central banks aggressively raised rates in 2022, causing almost all assets to reprice negatively. A significant conflict between Russia and the Ukraine, soaring energy costs, agricultural items, lingering supply-side issues, and staff shortages were all big, risk-off narratives. Exceptions to these declines were seen in commodities, commodity-related producers such as mining and materials companies; companies that benefited from reopening such as airlines; and inflation-linked securities which include private debt.  As we begin 2023, consensus is that many developed market economies will enter recession. Corporate earnings are expected to decline, resulting in downgrades and valuations having to decline accordingly. Views on central bank policy are still mixed – rates are likely to continue their rise, albeit at a slower pace.  This is the context in which we enter 2023. One of continued economic uncertainty. The quid pro quo, however, is that the environment for fixed income, or debt investments has changed dramatically. Private debt may now offer investors the potential for equity like returns. In this podcast, Ryan speaks to Bob Sahota, one of the most experienced private debt managers in the country. They talk through some of the key considerations for investors as it relates to private debt; and explore the idea that private debt can offer investors a middle ground. One that doesn’t face the same degree of risk from corporate earnings uncertainty in 2023 (as equities), or the continued risk of higher rates (as traditional fixed income).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.

On this week's episode of The Exchange podcast Tim sat down with Donal Griffin, Principal at Legacy Law. Donal is admitted as a lawyer in New South Wales, Australia and Ireland and has over 25 years’ experience. He has a Master’s degree in Wills and Estates. Donal practices as a lawyer in the areas of asset protection, estate planning, estate litigation, family trusts and business succession planning. The best question he gets asked is, “What do other people like me do?” The firm is a repository for the answers to this question. He has collated some of his experiences and learnings from working with many families in a book to be published in late 2021 called, “Be A Better AncestorTM”. Families are at the centre of what we do at EWL and growing and protecting family wealth is a key driver of our business.  On this week’s episode of The Exchange podcast Tim sat down with Donal Griffin, Principal at Legacy Law and a leading estates and asset protection lawyer. While the discussion touched on a broad range of wealth protection and estate matters, what was particularly insightful was Donal’s points on the key concerns of wealthy families and ensuring intergenerational wealth was transferred effectively but equally importantly not to spoil your kids through wealth 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.

 In this episode, hear from Justin Pica, Portfolio Manager at CBRE Investments, the asset management arm of one of the world’s largest property groups, CBRE. CBRE has in excess of $147B of assets under management, drawing on the resources of a truly global research team, operating in 100+ countries, with 105,000 employees and 700 local market researchers. For any property owner, this is a relevant listen, and for investors, talks to discounts in listed real estate that are typically only seen in GFC type events, despite very different circumstances and compelling financials. Many Australians’ own property and even more would like to know about the outlook ahead. In this episode, we talk key drivers of year-to-date returns, valuation differences between public vs. private real estate, and how investors should be thinking about opportunities in the asset class.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.