The Portfolio Construction Podcast
by Netwealth Investments Limited
In this podcast series, Paul O'Connor, Netwealth's Head of Investment Management & Research, picks the brains of key wealth management professionals to uncover unique insights on the investment areas they are most passionate about.Together they explore potential opportunities, challenges and considerations in the market while also sharing fascinating stories and lessons from their experience.We hope you enjoy the unique perspectives.
Episodes
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EP87: Can you take emotion out of investing? - Vinva
Systematic investing can sound like algorithms making the investment decisions. In reality, the ideas still start with people, while data and technology help test them, apply them consistently and support in reducing the influence of emotion. In this episode, join Morry from Vinva Investment...
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EP86: The new drivers of Private Equity returns - Neuberger Berman
For more than a decade, private equity benefited from a tailwind of low interest rates, cheaper leverage and expanding valuation multiples. According to Gabriel Ng, that environment has changed, and so has the private equity playbook. In this episode of the Portfolio Construction Podcast, Paul...
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EP85: Are we late to AI or right on time? - Global X
AI is overhyped - but are we actually early, not late? In this episode, Paul O'Connor sits down with Billy Leung from Global X to unpack why artificial intelligence may be less about hype and more about a multi‑year investment cycle. As the AI opportunity broadens, the challenge is capturing it...
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EP84: The rise of policy‑driven markets - Macquarie Asset Management
In this episode of the Portfolio Construction Podcast, Paul O'Connor is joined by Brett Lewthwaite to unpack how deglobalisation, rising policy intervention, and AI are combining to create a more volatile, policy‑driven market and to discuss why portfolios may not be positioned for it. Tune in to...
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EP83: Beyond borders: Why going global still matters in real estate
In this episode of the Portfolio Construction Podcast, Paul O'Connor is joined by Josh Scoville, Global Head of Research at Hines, to explore how global real estate markets are evolving and why property cycles are starting to turn after the 2025 low. Drawing on Hines' global research and…
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EP 82: The hidden risks of AI driven markets - BlackRock
In this episode of the Portfolio Construction Podcast, Paul O'Connor is joined by Mike McCorry, Chief Investment Officer of BlackRock Australia, to unpack how AI is becoming a dominant force shaping markets, and the risks this is creating for investors. Tune in to learn: Why the performance of a...
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EP81: 2026 and beyond: Investing in a hype driven market - Antipodes
In this episode of the Portfolio Construction Podcast, Paul O'Connor is joined by Jacob Mitchell, CIO and founder of Antipodes, to explore how pragmatic value investing can cut through market hype. Tune in to learn: What pragmatic value really looks like in today's market and how to use...
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EP80: The power of investing in people - Scarcity Partners
In this episode, Paul O'Connor sits down with Matthew Webb, co-founder of Scarcity Partners, to unpack private equity's next frontier: GP staking. Discover how shifting from funds to backing managers is rewriting the growth game. Tune in to learn: Why backing businesses and leaders, not just...
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EP79: The great property pivot: Winners, risks, and what's next for investors - Invesco Real Estate
In this episode of the Portfolio Construction Podcast, Paul O'Connor is joined by Max Swango, Managing Director and Global Head of Client Portfolio Management at Invesco Real Estate. Together, they unpack the forces reshaping global property portfolios - from retail's resurgence and shifting…
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EP78: Credit's rise as the backbone of portfolio strength - Schroders Investment Management Australia Ltd
In this episode of the Netwealth Portfolio Construction Podcast, Paul O'Connor is joined by Helen Mason, Portfolio Manager at Schroders Investment Management Australia. Helen explores the real story behind Australia's credit markets and where change sparks new opportunities for advisers and...
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EP77: From tariffs to tensions: Investing through global uncertainty - Janus Henderson Investors
In this episode of the Netwealth Portfolio Construction Podcast, Paul O'Connor is joined by Jay Sivapalan, Head of Australian Fixed Interest at Janus Henderson Investors. Jay shares his perspective on how shifting geopolitical and macroeconomic forces are reshaping investment strategies. The...
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EP76: Fads, frauds & forgotten stocks in global small caps - APIS Capital Advisors
In this episode of the Netwealth Portfolio Construction podcast, Paul O'Connor is joined by Eric Almeraz from APIS Capital Advisors, Eric offers a window into the world of global small caps, where 90% of listed companies live. Eric shares his thoughts on: How to spot value and avoid traps in a...
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EP 75: Currency hedging, the AUD and managing USD exposure – Rochford Capital
When over 50% of a portfolio's offshore assets are USD-denominated, currency risk isn't just a theoretical issue—it can be a real drag on performance. In episode 75 of the Portfolio Construction Podcast Series, Paul O'Connor (Netwealth Head of Investment Management & Research) speaks with Tom...
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EP 74: The art of the short – Fidelity International
In this episode of the Portfolio Construction podcast, Paul O'Connor, Head of Investment at Netwealth, chats with Dmitry Solomakhin from Fidelity International. Dmitry unpacks the thinking behind Fidelity's Global Long Short Fund, which uses a contrarian value approach to invest in "unloved...
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Ep 73: Beyond traditional assets: Building an alternatives allocation for wholesale investors - Lonsec
In this episode of the Portfolio Construction podcast, Paul O'Connor, Head of Investment at Netwealth, chats with Nathan Lim, Chief Investment Officer at Lonsec Investment Solutions. Nathan breaks down Lonsec's take on alternatives, explaining the difference between defensive and growth assets...
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EP 72: Global economic outlook and investment strategies for 2025 - Vanguard
In this episode of the Portfolio Construction podcast, Paul O'Connor, Head of Investment at Netwealth, chats with Matt Cho, Head of Multi-Asset Solutions at Vanguard Australia. Matt shares insights on Vanguard's recently released economic outlook for 2025, the performance of multi-asset products…
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EP 71: Investing in new world businesses: Insights on AI, digitisation, and market trends - Hyperion
In this episode of the Netwealth Portfolio Construction podcast, Paul O'Connor, Head of Investments at Netwealth, is joined by Jolon Knight, an investment specialist from Hyperion Asset Management. They dive into the global equities market, exploring the opportunities Hyperion sees for investors....
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EP 70: APRA's crackdown: What it means for fixed income investors - UBS Asset Management
In this episode of the Portfolio Construction podcast, Paul O'Connor, Head of Investment at Netwealth, is joined by Tim Van Klaveren, Head of Australian Fixed Income at UBS Asset Management. They discuss macroeconomic factors impacting fixed-income markets, including the global shift towards more...
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EP 69: Digitalisation, infrastructure, urbanisation in India and their impact on investors - India Avenue Investment Management.
The Indian economy is the fastest-growing major economy in the world. Driven by internal demand and a burgeoning middle class, India may offer an opportunity for investors. In this episode of the Portfolio Construction podcast, Paul O'Connor, Head of Investment at Netwealth, chats with Mugunthan...
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EP 68: The new face of private equity - HarbourVest Partners
The private equity landscape is evolving, with companies staying private longer due to available growth capital, expanding access and investment opportunities in private markets. In the latest episode of the Portfolio Construction podcast, Paul O'Connor, Head of Investment at Netwealth, chats…
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EP 67: Unlocking growth: Strategic small cap investing - Prime Value Asset Management
Considering an allocation to small cap stocks? Many Australian investors do, seeking the potential for higher returns that small caps can offer. But with greater opportunity comes increased volatility—so how do you navigate this space effectively? In this episode of the Netwealth Portfolio...
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Ep 66: Global real estate insights: Navigating market cycles and opportunities - Quay Global Investors
In this episode, Paul O'Connor, Head of Strategy and Development at Netwealth, sits down with Chris Bedingfield, Principal & Portfolio Manager at Quay Global Investors. They delve into the complexities and opportunities within global real estate markets. Chris shares his expertise on why…
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EP 65: Private credit: Navigating the risks and rewards - Challenger Investment Management
As traditional banks retract from commercial lending, private credit emerges as a compelling alternative. In the latest episode of the Portfolio Construction podcast, Paul O'Connor, Head of Investment at Netwealth, and Pete Robinson, Head of Strategy at Challenger Investment Management, offer...
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EP 64: China's soft landing: fact or fiction? - Income Asset Management
In this episode of the Portfolio Construction podcast, Paul O'Connor, Head of Investment at Netwealth, interviews Craig Swanger, Director and Chief Investment Officer of Income Asset Management (IAM). Craig shares his predictions that China's interest rates may decline more rapidly than the…
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EP 63: Finding investment opportunities in emerging markets - Warakirri Asset Management
For some, emerging markets remain one of the most mispriced asset classes globally, providing ample opportunities for outperformance, but it is important to properly evaluate the risks before investing. In this episode of the Portfolio Construction podcast, Paul O'Connor, Head of Investment at...
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Ep 62: Investing in 2024: Economic trends you should be thinking about - Betashares
In 2023, investors saw strong returns in equity, fixed interest, and cash markets. The question for 2024 is whether these strong returns will continue. In this episode of the Portfolio Construction podcast, Paul O'Connor, Head of Investment at Netwealth, interviews David Bassanese, Chief…
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EP 61: Energy transition, technological advancements, geopolitical risks impacting the global resource sector - Janus Henderson Investors
The resource sector encompasses a wide range of commodities and has received increasing attention due to the global shift towards renewable energy sources. In this episode of the Portfolio Construction podcast, Paul O'Connor, Head of Investment at Netwealth, is joined by Daniel Sullivan, Head of...
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EP 60: Fixed income investing: exploring the opportunities and challenges for 2024 - Macquarie Asset Management
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…
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EP 59: Healthcare real estate: why it's named the Cinderella of commercial property markets - Centuria Healthcare
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...
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EP 58: The impact of China's recent growth slowdown and policy stances on investors - BNP Paribas Asset Management
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...
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EP 57: Explore the intricacies of emerging market equities - Fidelity International
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,...
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EP 56: Exploring green bonds and their impact on ESG strategies - Pendal Group
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...
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Ep 55: Private Markets: The new traditional asset class
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...
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EP 54: Navigating volatility: Insights on equity markets and growth stocks - Franklin Templeton
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...
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EP 53: Outlook on fixed interest markets in 2023 and beyond - PIMCO: Investment Management
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...
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EP 52: Is it time to buy bonds? Russell Investments
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...
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EP 51: Investing in the transition to net zero - Janus Henderson
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…
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EP 50: Rising interest rates and the return of Australia's two-speed economy - WaveStone Capital
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...
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EP 49: What does inflation mean for fixed income portfolios? - Macquarie Asset Management
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...
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EP 48: Finding investment opportunities in local markets - First Sentier Investors
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...
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EP 47: Asset allocations strategies for inflationary markets - Blackrock
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…
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EP 46: Concentrated portfolios: A tool for risk-management - Polen Capital
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...
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EP 45: Global equities: Finding sustainable competitive advantages - Intermede
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…
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EP 44: Income for life: Strategies for retirement - Martin Currie Investment Management
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...
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EP 43: The evolution of ESG investment strategies - Russell Investments
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...
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EP 42: Growth and income opportunities with AREITs - CBRE Investment Management
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...
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EP 41: Generating income and capital growth with unlisted infrastructure - AMP Capital
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...
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Ep 40: Investing in the global leaders of tomorrow - Fidelity
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.
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Ep 39: Is this time different for bonds? - Schroders
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.
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Ep 38: Dynamic asset allocations in volatile times - First Sentier
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…
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About this show
In this podcast series, Paul O'Connor, Netwealth's Head of Investment Management & Research, picks the brains of key wealth management professionals to uncover unique insights on the investment areas they are most passionate about.Together they explore potential opportunities, challenges and considerations in the market while also sharing fascinating stories and lessons from their experience.We hope you enjoy the unique perspectives.
Hosted by
Netwealth Investments Limited