The Portfolio Construction Podcast

Netwealth Investments Limited
  • 3.5 (2)
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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.

  1. 6D AGO

    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 frontline experience, the conversation examines how macro shifts, geopolitics and sector dynamics are reshaping real estate outcomes globally. Tune in to learn: Why global real estate is emerging from a period of repricing and low activity, and why 2026 is shaping up as an important vintage for investors How industrial and living sectors are leading real estate returns, with performance now driven by income growth and active asset management rather than simply valuation uplift How deglobalisation and geopolitical tension are increasing the importance of local asset selection, while risk management is best addressed through global diversification How liquidity and currency risk are managed in an evergreen global real estate portfolio, without compromising long‑term returns Disclaimer: The information provided is general information and is not indicative of future results. Outcomes may vary depending on strategy and market conditions.

    30 min

  2. MAR 13

    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 small group of AI‑heavy mega‑cap companies is now driving a disproportionate share of market returns and volatility Why AI is fundamentally different from past technology cycles, requiring massive upfront investment in data centres, chips, energy and grid infrastructure How the gap between AI spending now and profits later is raising debt levels and making market outcomes more sensitive How this environment strengthens the case for active, selective decision‑making, as concentration, timing risk and uncertainty make broad exposure less reliable   Important Information: This material has been created with the co-operation of BlackRock Investment Management (Australia) Limited (BIMAL) ABN 13 006 165 975, AFSL 230 523 on [13/03/2026]. Comments made by BIMAL employees here represent BIMAL's views only. This material provides general advice only and does not take into account your individual objectives, financial situation, needs or circumstances. Before making any investment decision, you should obtain financial advice tailored to you having regard to your individual objectives, financial situation, needs and circumstances. Refer to BIMAL's Financial Services Guide at blackrock.com/au for more information. This material is not a financial product recommendation or an offer or solicitation with respect to the purchase or sale of any financial product in any jurisdiction.

    46 min

  3. FEB 6

    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 industry‑level insights to help avoid value and growth traps Why AI adopters, not AI hype stocks, can offer more sustainable long‑term opportunties and how to tell the difference Why Europe stands out, with resilient industrial companies and banks growing their margins at attractive valuations Why gold has strengthened, supported by tighter industry discipline, better operations and rising demand as countries diversify away from US‑dollar reserves Why relying on a handful of large, highly priced companies increases benchmark risk, and how active strategies can help navigate uncertainty

    38 min

  4. 12/10/2025

    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 individual funds, gives you exposure across all their investments, bypasses the J curve, and can unlock greater growth potential Why the right strategic partnerships drive scale, and how to seize this opportunity in the Australian market Disciplined due diligence: How Scarcity Partners' multi‑stage process and deep relationship building surfaces the best managers How private markets could make up 10% of Australian wealth portfolios and why GP staking can help position you for early advantage*   Want to deepen your understanding of private market due diligence? Discover insights from 12 industry thought leaders and their five-stage approach to refining the process. Download now.      Disclaimer: Information provided is general information and not indicative of future results. *Depending on strategy and market conditions.

    35 min

  5. 10/31/2025

    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 office dynamics to the rising demand for residential assets. The conversation explores strategies to diversify across property sectors and the realities of investing in fast-growing sectors like data centres. Get insight on: The shift in property portfolios: office exposure plunges while industrial real estate and residential property dominate Why retail property offers short-term upside, residential drives medium-term growth, and targeted office assets remain a smart long-term play The risks and opportunities in data centres, and why a cautious approach is essential The expanding role of private markets and alternatives in institutional portfolios, and why property continues to be a core allocation   Curious about the bigger picture? Netwealth's latest private market reports dive deeper into the rise of private real estate and niche lending, showing how global investment professionals, from Lipman Burgon to Evidentia, are making private real estate a cornerstone allocation in client portfolios. For more insights, download the reports now.

    38 min

  6. 10/08/2025

    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 investors. Get insight on: How APRA's phase-out of hybrids and the shift to Tier 2 capital are changing liquidity, pricing, risk, and yield in Australian credit markets Why credit is now preferred over equities for stable income, lower volatility, and capital preservation How Australia's strong economy, bond yields, and rate cuts are creating new opportunities in fixed income and credit The rise of private credit and commercial real estate lending, and the importance of liquidity, diversification, and regulatory scrutiny for robust portfolios

    38 min

  7. 09/05/2025

    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 conversation explores: How China's leadership in renewable energy, shipbuilding, and electric vehicles is opening fresh investment opportunities The race for technological dominance, particularly in AI, and its impact in transforming industries, reshaping supply chains, and redefining global trade and security Australia's need to diversify its export mix, pointing to opportunities in services, education, tourism How active management in fixed interest is unlocking high-yield opportunities across government, corporate, and infrastructure debt The importance of long-term thinking and understanding how policy and regulatory factors influence portfolio performance

    42 min

  8. 07/24/2025

    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 universe of 19,000 stocks, many of which they think are under-researched and mispriced. Why small caps are a goldmine for shorting, with themes like Chinese renewables and broken growth stories - companies that are over-earning or benefiting from temporary booms. What makes a contrarian view profitable, and how APIS used deep research to uncover a multi-year opportunity in overlooked tech. How regulation is reshaping industries, with real-world examples. Why AI isn't just hype, discover how AI is impacting investment strategies.

    45 min
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About

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.

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