Collegiate input underpins Infinity’s resilience

Mike Taylor

Managing Editor and Publisher

26 May 2026

In our latest investment manager profile, Infinity Capital Solutions chief investment officer, Piers Bolger points to the value of an experienced investment team which embraces a collegiate approach and explains why he values the differing views which allow the fund to demonstrate resilience in navigating challenging market conditions.

1. What is the strategy and what do you aim to achieve?

Infinity manages a range of multi asset and sector based managed account portfolios.  Our sector-based portfolios cover the main investment asset classes of fixed income, REITs, global equities, Australian equities and alternatives.  Our Australian equity capability is a key point of difference as we manage this internally, with two strategies in Core and SMID (small/mid cap).  These portfolios are specifically designed for Advisers and their clients.  Our other sector-based portfolios allow Advisers to utilise the strategies as ‘building blocks’ as part of a tailored client solution, while our multi asset portfolios provide Advisers with a complete portfolio-based solution should they believe that most appropriate.  The diversity and flexibility of our investment offer allows us to engage with Advisers and their clients at multiple levels in regard to their investment needs.

2. How long have you personally been responsible for it?

Since the inception back in 2015.

3. How much of your personal wealth is invested in the strategy, and how do you think about co‑investment as part of your alignment with clients?

Across the entirety of our business, I have the majority of my wealth tied to our portfolios.  Co-investment is an important alignment, but investment decisions are personal based upon goals and timeframes.

4. What is the benchmark and how have you performed relative to it?

We adopt a total return approach (with a CPI plus target) across our multi asset portfolio, however, they are also benchmarked to the relevant peer group investment profiles provided by FE Analytics.  Our sector portfolios use market-based benchmarks.  We measure performance over the medium term reflective of the underlying risk of any strategy.  Since inception, our flagship Balanced Portfolio has never delivered a negative return over any rolling 3yr period.  We are proud of this outcome for our clients.

5. Right now, what are the major risks you worry about?

As markets are dynamic there is always something to worry about.  In part, its also what makes my job so interesting. However, specifically, issues around inflationary expectations, the direction of global rates/bond yields, equity market valuations, the medium term outlook for energy markets and the potential for a more disruptive macro environment are the key issues that are occupying our time at present.

6. The past three years have been pretty tempestuous. How has that impacted the portfolio and how have you responded?

We take a dynamic approach to our asset allocation and investment framework. We believe this is critical in order to best manage the underlying risks across a portfolio.  Over the last 3yrs we have seen an array of different market environments – as an example, more recently, the war in the Middle East has completely upended the outlook for energy markets that was something that few (if any) expected 9 months ago. Our portfolios have been resilient, but not immune, in this environment.  Our focus is to always try and look through the immediacy of the near term but being cognisant of the current market environment.  It’s a fine balancing act.

7. What could cause your strategy to underperform and how long could that persist?

Given our investment approach and current positioning across our multi asset portfolios, a prolonged downturn in growth assets would be a negative for performance outcomes.  However, the importance of focusing on downside risk management, maintaining a broad asset class exposure alongside our dynamic asset allocation framework would assist in mitigating any prolonged drawdown on the portfolios.

8. How do you validate your thesis when markets move against you or a manager selection disappoints?

We have an experienced investment team that meets regularly on both formal and informal basis where we review each of our strategies on a continual basis.  This includes both quantitative as well as qualitative analysis at a security level, while our capital markets analysis underpins our asset allocation framework.    Collegiate input allows for a breadth of conversation and differing views, which is important any in market environment (good or bad) to ensure that we are always challenging our current market view and portfolio positioning.

9. Does the portfolio have any biases, or is it concentrated in any way, by design?

We aim to build portfolios that are designed to meet their investment outcome over the medium term. This involves having a broad asset class and security exposure, but in some periods, we do take significant positions – whether at the asset class or security level – where we believe there is an appropriate risk/return trade off consistent with the objectives of the strategy.