Rich Pickings explores the investment beliefs and philosophies of prominent professional investors. In this episode, I'm in conversation with London-based, absolute return fixed income investor, James McAlevey, BNP Paribas Asset Management...

A complex array of issues is changing the outlook for economies and investment markets. It is time to make a move to better understand these issues so we can better manage risk and uncertainty, and design portfolios capable of improving the financial well-being of individuals.

From the origins of Western order in the Renaissance through the Enlightenment, five interconnected crises now threatening its foundations. Our choice is simple – optimise within decline, or rebuild the foundations that made our prosperity possible.

In an era defined by rapid economic shifts and evolving banking regulation, the time to make a move is now – asset-based finance is emerging as a compelling frontier for investors.

With parts of the private credit market under pressure from rising impairments and liquidity constraints, investment-grade credit provides a way to access equity-like returns without taking on additional risk or sacrificing liquidity.

Investors should challenge what value means in today's evolving market and think pragmatically about how value co-exists alongside other accretive factors, thereby uncovering opportunities that challenge the traditional definition.

An absolute return, long-short approach to global equities investing offers the freedom to invest in the best long-term opportunities whatever they are, turning time and disruption into a competitive advantage.

Private credit is a maturing asset class globally but expanding rapidly in Europe, with spreads tending to price at a premium to their US counterparts, providing higher interest cover and lower default rates.

It's time to move global equities portfolio construction and stock selection with the corporate life cycle - for alpha, balance, and consistency.

The explosion of data and advances in AI have permanently changed active investing. The alpha edge lies not in discarding skill, but in scaling it.

In a world of disrupted supply chains, recalibrated interest rates, and technological acceleration, asset class dynamics are being redefined as some sectors quietly set up for multi-period outperformance. This session explores key challenges and opportunities in multi-asset class portfolio construction that practitioners should be thinking about – three asset class issues that it’s time to make a move on – in order to deliver best-of-strategies solutions capable of improving the financial well-being of individuals.

Capital and companies are shifting away from public markets, as private markets have demonstrated return outperformance (with less volatility) over a long period of time.

Emerging markets account for over half the world's population and a third of global GDP, yet they remain glaringly underrepresented in most investment portfolios. Today's low valuations could be the springboard for a powerful rebound.

In today's markets, the challenge isn't ignorance – it's bias. The edge lies in discovering what's happening, but in discerning what truly matters. Now is the time for systematic investing.

A portfolio is only as good as the sum of its parts. This session explores key challenges and opportunities in multi-asset, multi-manager portfolio construction that practitioners should be thinking about – three portfolio deign issues that it’s time to make a move on – in order to deliver best-of-strategies solutions capable of improving the financial well-being of individuals.

The enduring gap between investors’ intentions and their market actions is a critical challenge. While investors may voice clear objectives, ranging from long-term retirement savings to ethical mandates, their behaviour often lags. This is not a failure of financial knowledge, but a misalignment between personal values and portfolio goals. By first articulating and understanding their core values, investors can design objectives that are not just financially sound but also compelling psychologically and behaviourally. This values-first approach closes the gap between intent and action, leading to more effective portfolios.

Picking back up from the inaugural Portfolio Construction Forum da Vinci Lecture, Michael Stutchbury and Oliver Hartwich discuss the five crises threatening the foundations of the Western order and the practical implications for Australia and NZ.

Economic realities and policy shifts are diverging from market pricing, US equity valuations are at record highs but the outlook for the world's largest economy is challenged, and the independence of the central bank is at risk. It's time to make a move to rebalance portfolios.

This diverse panel of asset class experts discusses and clarifies the implications of four global economic and markets outlook scenarios for the medium-term (three-year) outlook for key asset classes, during which the Strategies Summit delegates vote to give their view on the likelihood of each scenario, from most to least likely. The asset allocation implications are then revealed in the Peer Exchange Group session later in the morning.