Show Notes
In our first Monday Call for 2025, we welcome Mark Brooks, Chief Investment Officer at NZ Funds, to discuss the key themes shaping the investment landscape. Despite global uncertainty, geopolitical tensions and major elections, 2024 ended on a strong note for markets. Now we look at what’s next.
Markets enter 2025 with a mix of opportunities and challenges. The US remains a driving force, powered by its tech sector, but high valuations combined with high expectations and the Trump presidency add complexity. New Zealand’s share market, like many outside of the US, showed strength in late 2024, and while expectations remain modest, signs of improvement are emerging.
What can investors expect in 2025? Will the downgrades seen in New Zealand turn to upgrades? Will new tariffs and geopolitical risks hinder growth? Why is the US so highly valued, and is this at risk? And where does Bitcoin fit in? Mark’s insights will equip investors with the knowledge to navigate the year ahead.
More from The Monday Call
The mood is sombre: a cost-of-living crisis, interest rates are rising, war with Iran and fears that AI might kill us all. Yet beneath the gloom, core inflation is easing, New Zealand’s economy is growing, and earnings at America’s largest companies are on course to rise by a remarkable 30% this year. The steam engine remade transport, electricity lit our cities, and the internet put the world in our pockets. AI may be the next general-purpose technology, reshaping how we live and work, including at NZ Funds. But how much of its promise is already priced into markets, and how much is yet to come? Drawing on NZ Funds’ H2 2026 Investment Outlook, Chief Investment Officer Mark Brooks and Investment Strategist James Grigor weigh the risks against the rewards, consider what America’s midterm elections may mean, and explain how NZ Funds is positioning client portfolios for the road ahead - which, as ever, is unlikely to be a straight line.
Mike Frith is Chief Economist at the NZ Super Fund, New Zealand’s single largest pool of long-term capital. The NZ Super Fund invests more than $90 billion for the Government to reduce the future cost of universal superannuation. Its long horizon lets it look beyond the headlines. Mike will discuss the forces driving markets: technology, trade, and shifting economic dynamics. What can rising interest rates tell us? How might a productivity leap affect earnings? And how do long-term investors account for elections, such as the United States midterms? We will also look inside NZ Super’s portfolio, from strategic tilting and global equities to commodities and alternatives. Join us for a rare look at how a leading sovereign fund is investing for a changing world - and the opportunities it presents.
After 35 years covering financial services, Philip Macalister has seen New Zealand’s advice sector through booms, busts and enough industry buzzwords to fill a small dictionary. Through Good Returns, the website he founded, he’s become the industry’s institutional memory, one finger permanently on its pulse.
Ask different AI models who is the best KiwiSaver provider or investment manager and get a potpourri of different answers. All confident. Most contradicting each other. AI is likely recycling whatever’s loudest online. Yet there’s no single 'best' - only the best for you, with your goals and your circumstances. Richard Conway, CEO of The Optimisers and a leading voice on AI and search optimisation, is an authority on how these models reach their conclusions. The implications go far beyond retirement savings; AI is now influencing how people choose accountants, lawyers, power companies, even doctors. Join the Monday Call team as we speak with Richard about what this means for investors, advisers and consumers alike. There’s no debate AI is powerful and convenient, but should we hand over how we make important decisions? Or does good advice really require care, context and judgement – and an understanding of what matters to you?
As Chief Executive of Southern Cross, Nick Astwick heads one of New Zealand's most significant organisations, with close to one million members and a unique view of the health, ageing and wellbeing of the nation. With 25 years at the heart of New Zealand business, including almost a decade at the helm of Southern Cross, Nick is one of the country's best-informed voices on longevity, and what it means for how we plan, secure and spend our later years. Join the Monday Call team for an important conversation on New Zealand's future: the opportunity to extend our healthspan, the changing economics of healthcare, and how we can build a healthier, more prosperous community.