Inside the Markets from Progeny Asset Management

Building AI: Where the Real Investment Opportunities Lie

AI may be dominating headlines, but behind every chatbot, recommendation engine and large language model lies a vast and rapidly expanding physical infrastructure: AI data centres. In this episode, we explore what AI data centres are, why demand is surging, and how they have become one of the most important investment themes of the decade. We discuss the role of hyperscalers such as Microsoft, Amazon and Google, the enormous amounts of computing power required to support AI, and why trillions of dollars are expected to be invested globally in the years ahead. We examine how future AI-related IPOs could fuel the next phase of infrastructure growth, and why investment opportunities extend far beyond AI developers themselves. From semiconductor manufacturers and energy providers to construction firms and local economies, we uncover the broader ecosystem benefiting from the AI boom. We also look at some of the key challenges facing the sector, including power constraints, rising costs, supply chain bottlenecks and regulatory scrutiny, and what investors should consider when seeking exposure to this rapidly evolving theme. Listen now to discover why AI is not just a technology story, but an infrastructure and energy story that could reshape the global economy for years to come.

Inflation then and now: Lessons from the 1970s

In episode 3 of Inside the Markets, we’re diving into the themes we’re hearing most in client conversations - rising inflation, higher rates, and ongoing geopolitical tension. To put today’s environment into context, we’re rewinding to the 1970s oil crisis to look at what drove the inflation spike, how policymakers responded, and what lessons still apply. Back then, central banks lacked the independence they have today, with policy often influenced by political pressure. Combine that with loose fiscal policy and rising geopolitical tension, and you start to see some parallels with today, even if the policy backdrop itself is different. So, while this isn’t a replay of the 1970s, it’s also not a world we can approach with old assumptions. Inflation today is being shaped by new structural forces, from supply chains to the energy transition, and may prove more persistent over the medium term. We explore the parallels, the differences, and what it all means for policy, markets, and investors, from interest rates to diversification, and how portfolios might need to adapt.

The passage of power: Strait of Hormuz

Why does a narrow waterway matter to your portfolio? In this episode, we’re talking about a place we might struggle to pinpoint on a map - but one that’s shaping markets, inflation, and investment decisions around the world. When things go wrong with the Strait of Hormuz, markets tend to notice very quickly. We delve into the geography, ownership and history of the Strait as well as global reliance, disruption and the impact on life and markets around the world.

The Rise of Systematic Investing

Welcome to the first episode of Inside the Markets podcast from Progeny Asset Management. We’re focusing on how systematic investing has evolved - from its origins as a highly specialised, quant‑driven approach into something far more accessible and widely used today. What was once a niche part of the market has become a genuinely distinct investment style, sitting alongside active and purely passive approaches. It’s now a meaningful component of mainstream portfolio construction, with advisers increasingly using systematic strategies in thoughtful and deliberate ways. We’ll unpack how that evolution has taken shape, why it matters for investors, and how these approaches can play a role in diversified portfolios across different market environments.