397. Meet the fund finding the next wave of innovation (before the market)

Innovation is often associated with headline-grabbing tech giants, but this episode reveals a far broader opportunity set across global markets. Graeme Bencke and Mikhail Zverev, co-managers of the WS Amati Global Innovation fund, introduce the fund’s disciplined framework that categorises companies as pioneers, enablers and adopters of technological change, and explain how each play a distinct role in capturing innovation-driven growth. The managers also explain how they identify “innovation frontiers” where change is already being adopted rather than speculative future trends. From AI infrastructure and semiconductors to life sciences, defence, and industrial automation, the conversation highlights how structural change is creating investable opportunities across sectors, while emphasising valuation discipline, profitability and real-world business quality over hype.What’s covered in this episode: Innovation beyond traditional tech investingThe fund’s pioneer, enabler, adopter framework explainedHow innovation creates investable inefficienciesWhy valuation and profitability still matter“Innovation frontier” definition and selection processAI ecosystem opportunities beyond mega-capsSemiconductors, photonics and AI infrastructureDefence tech and geopolitical-driven innovationLife sciences, diagnostics, and biotech toolsIndustrial automation and machine vision trendsRFID and real-world “Internet of Things” applicationsOverhyped vs under-appreciated innovation areasMedium-sized companies as growth sweet spotsLearn more on fundcalibre.comPlease remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Ratings are based on FundCalibre’s research methodology and are the opinion of FundCalibre’s research team only.