[i3] Podcast
[i3] Podcast
May 5, 2020
46: TCorp's Stewart Brentnall - TCorp, partnerships and the Canadian Model
Play • 27 min
Stewart Brentnall is the Chief Investment Officer of Tcorp, the asset management arm of state of NSW. In this interview we discuss the fund's move towards a total portfolio approach, how TCorp views partnerships with fund managers and his thoughts on the Canadian Model. Overview of podcast with Stewart Brentnall: 2:00 Getting started in investing. 2:40 My first boss, while I was on secondment to Clayton Utz, was Julie Bishop 5:30 Building a multi-manager platform at ANZ 6:00 TCorp mergers 6:45 Internalisation of asset management functions 7:30 Moving towards a total portfolio approach 8:30 Asset classes don’t describe very well how much risk they bring to a portfolio 11:00 Streamlining the portfolio and reducing the number of managers in it 12:00 Equities are at the centre of the investment process and every other asset is measured against the risk/return profile of equities 13:00 How were the changes received by the existing staff? Did you get any pushback? 15:00 Addressing agency risk 15:30 How do you look at strategic partnerships? 17:30 Thoughts on passive versus active as TCorp continues to grow. 19:00 Teaming up with Canadian pension funds 20:00 What are your thoughts on the Canadian Model? Will it still be successful in an environment where returns are lower and so cost will need to be managed more? 22:00 The governance around internalising is tricky 23:00 How is TCorp positioned in this crisis environment? 27:00 Role of technology
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