GLOBAL INVESTMENT INSIGHTS

Video | Denis Cole, Director of Credit, Head of Portfolio Specialist Group, PGIM

In this exclusive interview, Denis discusses multi-sector credit, including how and when best to allocate to a multi-sector credit mandate, appropriate benchmarks to use and what asset owners should look for in a manager when they are assessing their aptitude for a multi-sector credit mandate. He also shares his perspectives on subsectors of credit markets where he sees attractive relative value.

Watch the full interview which covers:

00:24 - When should an investor choose a broad multi-sector credit mandate versus allocating on a single sector basis?

02:53 - Are there structural opportunities in a multi-sector credit mandate or is the benefit in rotating sectors based on relative value?

05:10 - What are the skills an asset owner should look for in a manager when assessing its aptitude for a multi-sector credit mandate?

07:00 - What is a good benchmark for a multi sector credit mandate / portfolio?

07:50 - Are there particular subsectors of credit that stand out in terms of great relative value?

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Video | Pauline Wetter, Partner, LGT Capital Partners

In this exclusive interview, Pauline discusses the drivers behind the slowdown in private equity (PE) exit activity and the growing role of secondaries in the PE landscape, including her key lessons learned over the years investing in secondaries and what it takes to achieve PE investing.

Watch the full interview which covers:

00:21 - Investors have been disappointed with the amount of distributions from PE over the last few years. What do you think are the main reasons for the slowdown in exit activity?

00:59 - How has the slowdown in exit activity affected the way you are building portfolios?

01:37 - What are the key pillars required to be successful in PE investing?

02:31 - Secondaries have become a big part of the PE landscape. Are you concerned the growth is unsustainable?

03:08 - What are the key lessons you’ve learned over the years investing in secondaries?

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Video | Justin Maleson, Managing Director (Legal Credit) & Assistant General Counsel, Victory Park Capital

In this exclusive interview, Justin explains why legal credit is an attractive investment opportunity, as a subset of asset-based finance. He discusses how VPC partners strategically with law firms and shares their approach to investing in the asset class and the areas of legal credit presenting exciting opportunities for investors today.

Watch the full interview which covers:

00:20 - What makes legal credit an attractive investment opportunity today?

01:34 - How would you describe Victory Park Capital’s approach to legal credit investing?

02:22 - Why might a law firm choose to partner with Victory Park Capital and how does the strategic partnership work?

03:34 - What aspects of the legal credit market or your strategy are you most excited about?

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Video | Harvey Bradley, Co-Head of Global Rates, Insight Investment

In this exclusive interview, Harvey discusses how investors need to evolve their approach when investing passively into fixed income markets and highlights the need to be intentional with benchmark selection and deliberate in portfolio construction, to achieve success. He also examines the implications of the declining demand for US Treasuries, the rapid growth of private credit and the longevity of US exceptionalism. With the return of volatility in the macroeconomic and geopolitical environment, Harvey shares how active managers can capitalise to outperform passive strategies.

Watch the full interview which covers:

00:23 - Passive investing has been popular in public equities, how do investors need to evolve their approach when investing passively in fixed income markets to achieve success?

02:00 - Why do investors need to be intentional when they are selecting their SAA or benchmarks, and why do managers need to be deliberate in their portfolio construction?

04:00 - What could the decrease in the purchasing of US Treasuries by China and Japan mean for global markets?

06:16 - How do you see the rise of private credit impacting liquid markets or active managers?

08:33 - Given the uncertainty and volatility in monetary policies globally, how should investors be positioned with respect to duration and currency exposures?

11:57 - With weakening demand for US Treasuries globally and tariff uncertainty weighing on the US dollar, is US exceptionalism under threat?

13:33 - What does a weakening demand for US Treasuries mean for investors with a large (and increasing) exposure to US denominated assets?

14:46 - With equity valuations (especially in the US) appearing expensive, at least historically, and with base rates remaining elevated, how do you see the relative value between these two asset classes on a forward-looking basis?

16:15 - With the return of volatility in the macroeconomic and geopolitical landscape, how can active managers exploit this dynamic to outperform passive strategies?

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Video | Michael Hanson, Senior Vice President of Research, Fisher Investments

In this exclusive interview, Michael explains the benefits of a “top-down” approach to global equities investing and what’s been key to Fisher Investments’ 30 years of success navigating equity markets. He shares his views on US exceptionalism and how sentiment drives equity markets.

Watch the full interview which covers:

00:19 - Explain Fisher Investments’ top-down approach to global equity markets and how it came about?

03:34 - Why take a “top-down” approach to equities investing?

05:22 - What’s been the key to success for Fisher Investments in implementing a top-down approach to equities investing for over 30 years?

07:34 - How does sentiment drive equity markets and how does it impact performance outcomes?

09:05 - How do you view US exceptionalism?

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Video | Aakash Thombre, Managing Director, Goldman Sachs Asset Management

In this exclusive interview, Aakash explains why identifying macro regimes is essential for multi-asset credit investors and how to navigate a tight spread environment in search of returns, without stretching for yield or compromising credit standards. He shares his views on where AI could have the greatest impact on global credit investors, the vulnerabilities global credit investors may be exposed to and what they should do about them, including when to pay for downside protection.

Watch the full interview which covers:

00:19 - Does identifying the macro regime matter for the multi-asset credit investor?

01:15 - How should an investor think about seeking returns without stretching for yield and compromising credit standards in an environment where spreads are tight?

02:25 - Where might AI have the biggest impact for global multi asset credit investors?

04:04 - Should an investor pay for downside protection (i.e. a tail risk hedge)?

05:49 - What are some of the main vulnerabilities global credit investors may be exposed to, and what should they do about them?

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Video | Pawel Wroblewski, Managing Director, Portfolio Manager, ClearBridge Investments

In this exclusive interview, Pawel discusses how AI-driven disruption is reshaping equity market leadership and how to integrate these themes into portfolio construction, while maintaining style and valuation discipline. He also explores why an active, diversified approach across the growth spectrum is well placed to manage disruption and enhance long-term returns.

Watch the full interview which covers:

00:23 - How do you see AI-driven disruption reshaping equity market leadership?

01:53 - How do you integrate AI-driven disruption into your equity portfolio construction?

03:55 - How do you maintain style discipline while remaining adaptable to rapid market shifts?

05:02 - How do you ensure valuation discipline when investing in AI-related opportunities?

06:18 - How does a diversified approach across the growth spectrum help manage disruption and enhance long-term returns?

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Video | Aziz Hamzaogullari, Chief Investment Officer of Growth Equities, Loomis, Sayles & Company

In this exclusive interview, Aziz discusses how volatility and dispersion in equity markets create opportunities for active managers and delves into the characteristics of companies that have outperformed the much discussed “Magnificent 7”. He explains why the “Magnificent 7” dominate investment discussions and how investors should think about balancing concentration risk with the opportunity cost of being underweight mega-caps.

Watch the full interview which covers:

00:21 - How does volatility and dispersion in equity markets create opportunities for active managers?

02:43 - How do you approach risk in uncertain and volatile equity markets?

04:27 - Why do high profile stocks like the “Magnificent 7” dominate investment discussions?

06:11 - How would you suggest investors think about balancing concentration risk with the opportunity cost of being underweight mega-caps?

08:37 - What common characteristics do companies that have outperformed the “Magnificent 7” share?

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Video | Jason White, Lead Portfolio Manager, Artisan Global Discovery Strategy, Artisan Partners

In this exclusive interview, Jason discusses what makes the current environment attractive for investing in global SMID-caps, the role IPOs play in the investment process and the role strategic acquisitions play in driving returns for SMID-cap investors.

Watch the full interview which covers:

00:20 - What makes the current environment attractive for investing in SMID-cap stocks?

02:45 - How do you evaluate liquidity challenges in SMID-caps globally?

03:21 - What role do IPOs typically play in your investment process, and how frequently do they present opportunities for SMID-cap investors?

03:55 - How do you respond to the view that many of the most compelling small-cap companies are now in private equity hands?

04:41 - How significant are takeovers or strategic acquisitions in driving returns for SMID-cap investors, and do you ever invest with the expectation of a transaction?

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Video | Charlie Hill, Global Equity Senior Portfolio Manager, Mondrian Investment Partners

In this exclusive interview, Charlie outlines Mondrian’s approach to finding value in global equity markets over a long-term time horizon. He shares their approach to managing volatility, constructing portfolios with consistency, and navigating differences across regions and sectors. He also highlights the distinct characteristics that define Mondrian’s philosophy, which set it apart from peers: stability, discipline and consistency.

Watch the full interview which covers:

00:16 - Can you describe Mondrian’s approach to finding value in equity markets?

02:00 - How do you avoid the increased volatility that is often associated with value equities management?

03:54 - How do you build and manage your equity portfolios to deliver consistent characteristics?

06:27 - How do you deal with differences between equity markets and sectors, and are there areas you completely avoid?

08:51 - What are the key attributes of Mondrian and its approach to equities investing that set it apart from peers?

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Video | Jon Landis, Managing Director & Dan Weeks, Managing Director & Team Lead, BMO Sponsor Finance

In this exclusive interview, Jon and Dan discuss why it is important to have direct origination capability in private debt, the role of PE sponsors in deal sourcing and how investor expectations are evolving around alignment and co-investment. They also discuss where they see best relative value in private debt globally, investor perceptions vs reality in US middle market and why fixed income investors are increasingly looking to private credit opportunities. 

Watch the full interview which covers:

00:20 - Why is direct origination capability important in private debt?

02:01 - Why do you value deal sourcing from Private Equity Sponsors in undertaking your direct lending activities?

03:41 - How do you view the relative value between North American, European and Asian, including Australian, private debt in the current environment?

04:47 - What do you find to be the biggest disconnect between investor perceptions and the reality of the US middle market?

06:16 - When it comes to direct lending, how are investor expectations evolving around alignment and co-investment?

07:33 - Why do you think fixed income investors are increasingly looking to private credit opportunities?

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Video | Peter Magee, Chief Investment Officer, MRB House Family Office

In this exclusive interview, Peter discusses the family office’s investment model, the governance frameworks overseeing their investment program and their core investment capabilities. He shares how his organisation benchmarks their returns and their preference for investing through externally managed funds vs direct investing. 

Watch the full interview which covers:

00:16 - How would you describe the investment model of MRB House Family Office? 

01:42 - What governance frameworks oversee your investment program? 

03:47 - What would you say are the core capabilities of MRB House Family Office? 

05:40 - How do you benchmark the returns you generate? 

08:02 - Do you have a preference for undertaking investment through externally managed funds, or direct investments? 

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