The Investment Researcher’s Podcast

Higher rates for longer, slowing growth and stubborn inflation are reshaping the outlook for real estate and infrastructure. So what does that mean for investors in the wealth channel?

In this episode of The Investment Researcher, Dan Cave, Deputy Head of Income Research at Zenith Investment Partners, is joined by Dug Higgins, Head of Income Research. They look at the macro and capital backdrop for real assets, what they’re seeing across the Zenith rated peer group, and why one metric is moving from soundbite to valuation input.

Liquidity article: https://www.zenithpartners.com.au/insights/liquidity-tolerance-and-private-market-allocations/ 

Episode published: 27 Oct 2026

Zenith Investment Partners Pty Ltd ("Zenith") (ABN 27 103 132 672, AFS Licence 226872) is the provider of General Advice (s766B Corporations Act 2001). General Advice provided by Zenith is limited to Wholesale clients only. This document has been prepared exclusively for Zenith clients without taking into account the objectives, financial situation or needs of any specific person who may read it, including target markets of financial products, where applicable. It is not a specific recommendation to purchase, sell or hold any relevant product(s) and is subject to change at any time without prior notice. Investors should seek their own independent financial advice before making any investment decision and should consider the appropriateness of any advice in this document in light of their own objectives, financial situation or needs. Investors should obtain a copy of, and consider, any relevant product PDS or offer document before making any decision and refer to the full Zenith Product Assessment/s available on the Zenith website. This document is confidential and subject to copyright and may not be reproduced, modified or distributed without the consent of the copyright owner. The information contained in this document has been prepared in good faith and is believed to be reliable at the time it was prepared, however, no representation, warranty or undertaking is given or made in relation to the accuracy or completeness of the information presented in this document. Except for any liability which cannot be excluded, Zenith does not accept any liability, whether direct or indirect arising from the use of information contained in this document. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith's methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners.com.au/RegulatoryGuidelines

Copyright © 2026 Zenith Investment Partners, All rights reserved.

Office towers are essential and so are houses and yet neither are classified under the infrastructure umbrella. Advisers now have greater access to infrastructure opportunities than ever before, across both listed and private structures, which raises the question: when two funds are vastly different yet both use the word infrastructure, what are you actually investing in?

Dan Cave, Deputy Head of Income Research at Zenith Investment Partners, puts that to Steven Kempler of Maple-Brown Abbott Global Listed Infrastructure, and Kieran Zubrinich of Macquarie Asset Management, helping to demystify the broader infrastructure asset class.  They cover what makes an asset core infrastructure, why the energy opportunity sits in networks rather than energy generation, whether data centres belong in the asset class at all, and what this all means for risk management and infrastructure’s inclusion in investment portfolios in today’s environment. 

Episode published: 29 Sept 2026

Zenith Investment Partners Pty Ltd ("Zenith") (ABN 27 103 132 672, AFS Licence 226872) is the provider of General Advice (s766B Corporations Act 2001). General Advice provided by Zenith is limited to Wholesale clients only. This document has been prepared exclusively for Zenith clients without taking into account the objectives, financial situation or needs of any specific person who may read it, including target markets of financial products, where applicable. It is not a specific recommendation to purchase, sell or hold any relevant product(s) and is subject to change at any time without prior notice. Investors should seek their own independent financial advice before making any investment decision and should consider the appropriateness of any advice in this document in light of their own objectives, financial situation or needs. Investors should obtain a copy of, and consider, any relevant product PDS or offer document before making any decision and refer to the full Zenith Product Assessment/s available on the Zenith website. This document is confidential and subject to copyright and may not be reproduced, modified or distributed without the consent of the copyright owner. The information contained in this document has been prepared in good faith and is believed to be reliable at the time it was prepared, however, no representation, warranty or undertaking is given or made in relation to the accuracy or completeness of the information presented in this document. Except for any liability which cannot be excluded, Zenith does not accept any liability, whether direct or indirect arising from the use of information contained in this document. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith's methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners.com.au/RegulatoryGuidelines

Copyright © 2026 Zenith Investment Partners, All rights reserved.

In the first episode of The Investment Researcher, Zenith Investment Partners' Ethan Spiegel (Senior Investment Analyst) and Bradley Antman (Investment Analyst) in our Growth Team look past the hype to explain how investment managers are really using AI, drawing on conversations across the roughly 650 Australian equity, global equity, listed infrastructure and listed property funds and ETFs they cover.

They walk through six ways AI is showing up in investment processes today, from drafting and document summarisation through to signal testing in quantitative strategies, and explain why fundamental and quantitative managers are applying the technology so differently. They also take on the question advisers most want answered: is AI generating returns, or mostly making research and operations faster? Plus, how Zenith tests managers on AI during due diligence, and what advisers should be asking their own managers about tooling, proprietary insight and team composition.

Zenith Investment Partners Pty Ltd ("Zenith") (ABN 27 103 132 672, AFS Licence 226872) is the provider of General Advice (s766B Corporations Act 2001). General Advice provided by Zenith is limited to Wholesale clients only. This document has been prepared exclusively for Zenith clients without taking into account the objectives, financial situation or needs of any specific person who may read it, including target markets of financial products, where applicable. It is not a specific recommendation to purchase, sell or hold any relevant product(s) and is subject to change at any time without prior notice. Investors should seek their own independent financial advice before making any investment decision and should consider the appropriateness of any advice in this document in light of their own objectives, financial situation or needs. Investors should obtain a copy of, and consider, any relevant product PDS or offer document before making any decision and refer to the full Zenith Product Assessment/s available on the Zenith website. This document is confidential and subject to copyright and may not be reproduced, modified or distributed without the consent of the copyright owner. The information contained in this document has been prepared in good faith and is believed to be reliable at the time it was prepared, however, no representation, warranty or undertaking is given or made in relation to the accuracy or completeness of the information presented in this document. Except for any liability which cannot be excluded, Zenith does not accept any liability, whether direct or indirect arising from the use of information contained in this document. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith's methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners.com.au/RegulatoryGuidelines

Copyright © 2026 Zenith Investment Partners, All rights reserved.