NAVIGATING THE ERA OF AI
Opportunities and Risk for Investors

The rise of artificial intelligence is reshaping the global economy, disrupting industries, and creating both extraordinary opportunities and complex challenges for investors. As the world’s largest tech companies race to monetise AI’s transformative potential, the key question is whether its growth justifies today’s elevated valuations—or if there’s a risk of overvaluation.

Key Issues:

• How the rapid adoption of AI is driving unprecedented innovation and influencing valuations across markets.

• Assessing whether it’s too late to invest in early AI winners, like Nvidia, or if new opportunities are emerging for long-term growth.

• The risks faced by companies unable to adapt to AI advancements and their potential impact on portfolios.

• The broader implications of accelerating AI adoption on global infrastructure demand, including surging energy consumption and investments in data centres, renewable energy, and grid modernisation.

THOUGHT LEADERS:
Christopher Demasi

Portfolio Manager, Montaka Global Investment

Shane Hurst

Senior Portfolio Manager, ClearBridge Investments

IDEA EXCHANGE - Table Discussion

• Valuation Debate: Do you believe the growth potential of AI justifies current market valuations, or are we seeing signs of overvaluation?

• Opportunities and Risks: Beyond early winners like Nvidia, where do you see the most compelling opportunities in AI, and what red flags are you watching for?

• Infrastructure and Energy: How are you factoring the infrastructure and energy demands of AI adoption into your investment strategies?

11.40am

THE CASE FOR AUSTRALIA

Growth Stagnation or Hidden Potential?
 

As Australian markets passed record high valuations over the last year, questions are emerging about the nation’s economic trajectory. With future expected returns declining, is Australia at risk of a "lost decade," or does its economy still hold untapped potential?

Key Issues:

• The drivers of potential growth stagnation, including stretched valuations and structural economic challenges.

• The outlook for Australian banks: With valuations under scrutiny, should they still form a core part of Australian equity allocations, or is their dominance fading?

• How AI adoption and the energy transition are influencing demand for Australia’s commodities, and which companies stand to benefit.

• What sectors and asset classes should investors lean into over the next several years to position for growth and resilience?

THOUGHT LEADERS: 
Joe Wright

Deputy Portfolio Manager, Airlie Funds Management

Richard Maynier

Portfolio Manager, Northcape Capital

IDEA EXCHANGE - Table Discussion

• Growth Challenges: What indicators do you monitor for signs of a prolonged economic stagnation or rebound in Australia?

• AI and Energy Transition: How do you see trends like AI adoption and the energy transition shaping demand for Australia’s commodities, and which companies stand to gain?

• Positioning for the Future: Should investors reduce exposure to Australian markets, or focus on identifying hidden potential within its economy?

12.40pm

LUNCH

1.45pm

PUBLIC VS PRIVATE

Why Private Markets are Poised to Win
 

As equity markets reach record highs and returns are increasingly concentrated among a few US mega-cap tech companies, private markets present a compelling alternative for investors seeking diversification and higher growth potential. This session will explore why private markets are gaining traction and how investors can effectively integrate them into their portfolios.

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Key Issues:

• Navigating the expanding universe of private equity and credit managers to identify suitable opportunities.

• Approaches to effectively incorporate private markets into the broader portfolio construction process.

• The resources and inputs required to maintain and monitor a private markets allocation, ensuring alignment with investment goals.

• Identifying where the most promising opportunities lie within private markets today.

THOUGHT LEADERS:

Chris Mauss

Managing Director - Private Equity, Partners Group

Steven Tang

Head of Portfolio Solutions, Zenith Investment Partners 

IDEA EXCHANGE - Table Discussion

• Comparing Public and Private Markets: What makes private markets more, or less, compelling than public markets today, and how do you see this evolving?

• Opportunities in Private Markets: Which sectors or trends within private markets offer the greatest potential for your portfolios, and how are you positioning to capture these opportunities?

• Manager Selection and Due Diligence: When assessing private market managers, what criteria or red flags do you prioritise, and how do you ensure alignment with client goals during the due diligence process?

2.50pm

REFINING THE FORMULA
Case Studies in Managed Account Evolution

Managed account solutions have become a cornerstone for many advice groups, offering improved efficiency, scalability, and the opportunity for advisers to focus on practice growth. However, as these solutions mature, new challenges in investment decision-making and asset allocation have emerged, highlighting the importance of refining investment philosophies and enhancing resourcing to achieve long-term success.

Key Issues:

• The evolving benefits of managed accounts as firms move beyond initial implementation to optimise efficiency, scalability, and customisation, while aligning solutions with complex client needs.

• Common pain points as practices evolve, particularly advisers becoming bogged down in investment decision-making processes.

• Key considerations when updating or improving an investment philosophy, including alignment with client goals, adaptability to market changes, and consistency across the portfolio management process.

• Strategies for improving resourcing and refining asset allocation approaches to deliver better client outcomes.

 
THOUGHT LEADER:
Matthew Hattersley
Head of Dealer Group Engagement, SQM Research

Jim DeCarlo

Chief Executive Officer, Stellan Capital

Chris Carrodus

Head of Asset Consulting, Evidentia Group

IDEA EXCHANGE - Table Discussion 

• Impact of Managed Accounts: How has the adoption of managed accounts impacted your practice, and what challenges have you faced as your approach has evolved?

• Refining Investment Philosophy: What steps have you taken to update your investment philosophy, and what factors do you consider most important when improving decision-making within your managed account offering?

• Resourcing and Support: How are you approaching the resourcing of your investment committee or team to enhance asset allocation processes and ensure long-term success?

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