9:00am Opening and conference welcome

• Conference MC: Wayne Sullivan, Director of Marketing, Frontier Advisors
• Conference welcome: Andrew Polson, Chief Executive Officer, Frontier Advisors

9:10am Global forces shaping the market

We will open the conference with a global macro discussion on the forces shaping today’s economic and investment landscape. Bringing together global investment and policy perspectives, this session will examine how geopolitical fragmentation, policy divergence and uneven growth across regions are influencing markets. The discussion will explore what matters most for investors, including key risks to monitor, how global themes may evolve, and how portfolios can be positioned amid ongoing uncertainty and structural change.

Chair:

• Alexandra Veroude, Principal Consultant, Frontier Advisors

Presenters:

• Anwiti Bahuguna, Global CIO, Northern Trust
• Kyle Hutzler, Executive Director for Asia Pacific Policy and Strategic Competitiveness, J.P. Morgan Asset Management

10:00am Dotcom on steroids? The current state of play in AI

Rajiv Jain, Founder, Chairman and CIO of GQG Partners is perhaps one of the most vocal bears when it comes to AI valuations, calling out current market enthusiasm towards AI as the “dotcom on steroids”. In this session we delve into some of the research that led to GQGs bearish view from what had previously been a significant overweight to technology across GQG portfolios. Beyond debating the AI investment thesis, the session will explore frameworks for distinguishing mispriced secular thematics from those that evolve into speculative bubbles.

Chair:

• Brad Purkis, Senior Consultant, Frontier Advisors

Presenter:

• Rajiv Jain, Chairman and CIO, GQG

10:50am China at a crossroads

China’s outlook remains contested. This session tests a series of common myths shaping views on China today, bringing together policy insight and an investor perspective. The discussion will explore where growth is emerging, including innovation and AI, alongside the ongoing drag from real estate, weak consumption and demographic pressures. It will also examine how policymakers are managing the shift toward a more sustainable growth model, the role of state-owned enterprises, and the impact of strategic competition, energy security and changing trade relationships. Lastly, we will assess what has genuinely changed, what risks remain, and what this means for China equities and investor positioning.

Chair:

• Chris Trevillyan, Director of Investment Strategy, Frontier Advisors

Presenters:

• Wenchang Ma, Portfolio Manager China Equity, Ninety-One
• Tom Harley, Managing Director, Dragoman

11:40am Implications for Australian investors

In this session, our panel shifts the focus from global themes to their implications for Australian portfolios. Building on earlier discussions, the panel will examine how current market conditions are influencing asset allocation, risk management and portfolio construction decisions. The discussion will focus on how investors are responding to inflation, interest rates, domestic economic settings and valuation signals, with an emphasis on real trade-offs, areas of debate and how portfolios are being adjusted in practice amid ongoing uncertainty.

Chair:

• Alice Berriman, Principal Consultant, Frontier Advisors

Presenters:

• Kim Bowater, Director of Consulting, Frontier Advisors
• Michael Winchester, Head of Investment Strategy, Aware Super

Breakout session stream A – 1:15pm – 1:55pm

Session A1 – The state of credit

It is said credit markets can provide an early warning for trouble ahead more broadly. While credit conditions might appear benign, beneath the surface there are pockets of weakness and segments where concern is heightened. In this session we will unpack the market outlook for credit markets, review the interplay and overlap between liquid and private credit markets, and assess what risks investors should be concerned with given the cross currents from geopolitical turmoil and AI driven disruption fears. Are we on the edge of the abyss or does the news flow simply make for better entry points?

Session A2 – European real estate seizes the moment

Against a backdrop of geopolitical disruption, Europe is rebuilding, strengthening and expanding its industrial capacity and transition to a clean and digital economy. Strong fiscal stimulus and even stronger defence spending should boost real estate sectors in select cities. These markets appear to have stabilised following a material downturn and are poised to benefit from chronic undersupply. Could this signal the start of a cyclical upswing for European real estate, or something more structural, or, are investment managers overly optimistic? In this session we discuss findings from our recent European trip and the choices for investors across the risk spectrum.

Session A3 – Australia as a clean energy superpower – how to bridge the financing gap?

Despite strong institutional investor interest and a large pipeline of clean energy projects, Australia’s energy transition is not progressing fast enough to meet decarbonisation targets, with an annual funding gap of tens of billions of dollars. Investment appetite ultimately depends on attractive risk‑adjusted returns. This session explores the practical realities of financing Australia’s climate transition, how investors balance fiduciary duty with climate impact, and what is needed to remove barriers and accelerate capital deployment.

Session A4 – Liability-driven investors

This roundtable session provides a space for insurers (and other insurance fans) to connect and explore how other liability driven investors are adapting portfolios in response to market dynamics, capital considerations, and organisational priorities. Through peer-led discussion, participants will share how they are adapting their investment portfolios and across asset classes while balancing long-term obligations with short-term pressures.

Breakout session stream B – 2:00pm – 2:40pm

Session B1 – Honey, I shrunk the alpha – active management prospects in Australian equities

2025 was the worst year on record for active Australian equity managers, prompting renewed debate about whether structural forces are reshaping the market and the fundamental nature of price discovery. While last year’s underperformance may prove cyclical, changes in investor behaviour, market participants and active risk tolerance are likely to have a longer-term impact on alpha harvesting. Drawing on perspectives from an asset owner, fund manager and consultant, this session examines what these shifts may mean for deploying active risk in Australian equities and go-forward strategies for portfolio construction and manager selection.

Session B2 – AI in the investment process – safely creating value

Where can AI create investment value, and how do you keep it safe? This session explores practical use cases across research, portfolio construction and decision workflows. It then turns to the guardrails – governance and accountability – and the questions employers, investment committees and investors should ask as roles and skills shift.

Session B3 – Investment opportunities for sub-$750 million portfolios

In a market increasingly dominated by mega-funds, smaller investors can access opportunities that are simply unavailable to larger peers. These strategies are often capacity‑constrained but allow for greater agility, fewer regulatory and peer constraints, and a longer‑term investment horizon. In this session, panellists will discuss what matters most – repeatable return drivers, alignment, resilient structures and appropriate liquidity – as well as key risks to avoid, including style drift, hidden leverage, fragile capacity and misaligned fees. The discussion will also highlight how Frontier’s consulting and specialist research teams align research priorities with what clients are, and are not, seeking.

3:00pm The convergence of data centres and energy

The convergence of data centres and energy is one of the defining infrastructure shifts of the digital age, driven by the growth of artificial intelligence, cloud computing and digital transformation. The increase in energy demand from data centre power usage is causing significant challenges for the sector and requires massive investment in supporting infrastructure such as networks and fibre. This session will examine the challenges of the convergence and whether it presents investors with a symbiotic opportunity or is a growing source of systemic risk.

Chair:

• Lucy Minichiello, Head of Real Assets, Frontier Advisors

Presenters:

• Gautam Bhandari, Co-Founder, Managing Partner and Global CIO, I Squared Capital
• Ani Satchcroft, Co-Head of Infrastructure, Asia-Pacific, Macquarie Asset Management

3:45pm Beyond the TPA hype: What works, what doesn’t, and what matters most

Total portfolio approaches promise better trade-offs, faster decisions and fewer silos – but what works in practice? This session explores the realities for Australian institutional investors, including governance, benchmarks, regulation and implementation. Expect a pragmatic discussion on where TPA adds value, where it doesn’t, and how hybrid models can succeed.

Chair:

• Tom Frederick, Principal Consultant, Frontier Advisors

Presenters:

• Paul Newfield, Director of Specialist Services and Deputy Director of Consulting, Frontier Advisors
• Alicia Gregory, Managing Director, Blue Owl

4:30pm Leadership perspectives: A conversation with Grant Hackett

In this conversation, Grant Hackett reflects on a career defined by sustained high performance, spanning elite sport and executive leadership. Drawing on his journey from Olympic champion to Group CEO of Generation Development Group, Grant will share insights on building resilient teams, executing long-term strategy and leading through growth and complexity. The discussion will explore the lessons that translate from sport to business, the disciplines required to scale organisations with intent, and how leadership and culture shape outcomes over time.

Chair:

• Elie Saikaly, Head of LDI and Government, Frontier Advisors

Presenter:

• Grant Hackett OAM, CEO, Generation Development Group

5:00pm Conclusion