The Astute Investor

A second look on private debt

In the latest episode of The Astute Investor, LGT Wealth Management’s Head of Private Markets, Martin Randall, speaks with Francesco Valmarana, Partner at Pantheon and member of its European Investment and Global Private Credit Investment teams, about the rapid evolution of private credit and the growing role of secondaries.
Francesco explains how secondaries have shifted from a niche corner of private equity to a mainstream portfolio management tool, and how the same dynamic is now playing out in private credit. 
In today’s environment, he notes that returns are driven by the underlying loan yield, the incremental yield uplift from buying below par, the amortisation of that discount over the remaining life of the loans, and the potential “pull to par” as written down positions recover.
The discussion also touches on the distinction between senior direct lending and the broader opportunistic credit universe and how secondaries can provide access to these markets with enhanced transparency and risk control.

Building Resilient Portfolios in the Age of AI

In our latest episode of The Astute Investor, Scott Haslem, Chief Investment Officer at LGT Wealth Management, speaks with Ben Powell, Chief Investment Strategist for APAC at the BlackRock Investment Institute. Together they reflect on key lessons from 2025 and explore the major investment themes shaping 2026, from the AI-driven capital expenditure boom to shifting geopolitics and the growing importance of portfolio construction.

Will 2026 be more challenging for markets?

In the latest episode of The Astute Investor, LGT Wealth Management CIO Scott Haslem speaks with Stephen Halmarick, Principal and Chief Economist at Economics Unchained and former Chief Economist of the Commonwealth Bank of Australia, about the macro backdrop as we enter 2026.
 
Stephen notes that 2025 delivered a third consecutive year of solid returns, supported by resilient global growth, central bank rate cuts and ongoing fiscal support. Looking ahead, he expects 2026 to be more challenging as major central banks approach the end of their easing cycles and markets adjust to fewer, or no, further rate cuts. Global growth is likely to be moderate – lower than in the pre‑COVID era but not recessionary – with the US holding up relatively better than Europe and the UK, and China slowing structurally but still expanding.

Capital with a cause: investing for systemic change

Impact investing is reshaping how Australian families, foundations and leaders think about their capital - not just as a source of returns, but as a lever for systemic change. By aligning grant-making and investment strategies, and using frameworks like avoid–benefit–contribute, investors can move beyond traditional philanthropy to unlock larger pools of capital for social and environmental good. As the next generation pushes for purpose-led portfolios and regional collaboration, those willing to bridge philanthropy, wealth management and impact investing will be best placed to drive meaningful, scalable change in Australia and beyond.

Infrastructure Investing – Navigating Growth, Sustainability & Digitalisation

In the latest episode of The Astute Investor, Kevin Wan-Lum sits down with Esther Peiner, Head of Infrastructure at Partners Group, to explore how infrastructure investing is evolving in response to global trends in sustainability, digitalisation, and growth. Esther shares insights on Partners Group’s approach to hands-on management and thematic investing, illustrated by recent transactions such as the exit from Grassroots Renewables and the acquisition of Green Square DC. The conversation also covers the importance of resilience, the role of private capital in addressing system risks, and how deep knowledge of assets and investment models can unlock value for portfolios in Australia and globally.

Looking beyond numbers with quantitative investing

In our latest episode of The Astute Investor - Looking beyond numbers with quantitative investing, Kevin Wan Lum, Deputy Chief Investment Officer of the LGT Wealth Managements Investment Office interviews Morry Waked, Managing Director and Head of Investments from Vinva Investments. Morry has a long and well-recognised career in active investing globally.
During the podcast Morry discusses how successful investing requires looking beyond the numbers - it’s not just about data and technology but employing high-quality people to create a strong culture that delivers consistent outcomes for clients.”

AI, data and decarbonisation

Craig Scroggie, CEO of Australia's largest data centre, NEXTDC, explains how they are accelerating the path to decarbonisation.

Opportunities outside the US

In our latest episode of The Astute Investor, Scott Haslem, Chief Investment Officer at LGT Wealth Management is joined by Tim Toohey, Head of Macro and Strategy at Yarra Capital Management to discuss some of the key macro and market issues facing investors in the year ahead, both globally and locally.

The good, the bad and the ugly in private markets

In our latest episode of The Astute Investor, Scott Haslem, Chief Investment Officer at LGT Crestone is joined by Scott Voss, Managing Director and Senior Market Strategist at HarbourVest to discuss the ‘good, the bad and the ugly’ in private markets. During the podcast, Scott Voss talks to his views on the evolving landscape of private equity, the implications of macro shifts such as the US election, and the role of AI within private markets.
 

Crises, conflicts and ceasefires: Positioning portfolios through recent geo-political events

In our latest episode of The Astute Investor, Scott Haslem, Chief Investment Officer at LGT Crestone and Matthew Tan, Head of Asset Allocation discusses how the new ‘multi-polar’ world is impacting our investment and portfolio decisions. More specifically, Scott and Matt talk discuss how we are navigating the seemingly endless geo-political developments in light of the recent Iran-Israel conflict.