Family Office Sherpa Podcast Episode 36 - Angus Cameron, CIO for GHM Family Office

Family Office Investments. In the latest Family Office Sherpa Podcast, I interview Angus Cameron, Chief Investment Officer for GHM Family Office.

We cover:

·       The history of the office - from Fijian resorts to the current set up

·       How that entrepreneurial start frames their purpose and structure

·       The power of knowing who's good and who's not

·       How the principal's personality meant he need to "get out of his own way"

·       Asking the right questions - what do you want to do

·       Not caring about what others are doing, making their own mistakes (within their own framework).

·       First 5 years was the feeling out stage.

·       Getting the core right which allows for "spicier" investments

·       Getting the governance structure that fits the family.

·       Leveraging the ability of the principal.

·       Next gen planning - regardless of market movements.

·       Three buckets of risk - safe, growth and "aspirational".

·       He goes through his portfolio management strategy in depth.

·       The legacy of the office - respecting what the principal has done in his life.

·       Backing people, and being pragmatic of losses, and knowing what you know.

·       He will write the ticket that most won't - and how he helps portfolio businesses commercialise.

·       The fun of going down rabbit holes when investing in direct businesses and using that information with other investments.

·       The power of a family office network.

·       Infrastructure - data management, tech stack. Overdoing the investment reporting.

·       How lucky he is with the next generation's skill in technology and communication.

·       His role in painting the picture of markets for those that may not be as interested.

·       Resourcing the office - key person and redundancy risk, making sure everything's documented.

·       Being comfortable with the fact a major investment from the principal (eg hotel) could wipe out the need for him. And the need for liquidity to manage this.

·       8-13% return expectation for that big middle bucket.

·       The flexibility of the "non endowment model"

·       Not trying to pick growth cycles, putting guard rails against his own bias.

Such an honest person to interview who's insight into running a modern family office would be valuable to families globally. And if you're starting an investment office, the final question he answers on trends is extremely relevant

For more insights into family offices and their investments, operations and technology, subscribe to the Sherpa newsletter at:  hallroad.com.au.

Cheers

Shaun.

“Hall Road Investments Pty Ltd is a Corporate Authorised Representative (CAR No. 001279456) of Non Correlated Capital Pty Ltd (AFSL No. 499882). Shaun Parkin is an Authorised Representative (AR No 001279458) of Hall Road Investments Pty Ltd (CAR No. 001279456) and is authorised to provide general advice to wholesale investors”