1 00:00:01,040 --> 00:00:05,560 Speaker 1: You're listening to a Chasse podcast. The late Lloyd Morrison 2 00:00:05,640 --> 00:00:08,360 Speaker 1: did actually set up in for two way back in 3 00:00:08,400 --> 00:00:12,480 Speaker 1: the day. Would you say his aspirations have been realized? 4 00:00:14,920 --> 00:00:17,520 Speaker 2: I don't know. He's quite ambitious guy, right, so that 5 00:00:17,760 --> 00:00:22,400 Speaker 2: I suspect that's a pretty high bar that we're all 6 00:00:22,440 --> 00:00:26,720 Speaker 2: continually trying to live up to. He he described it 7 00:00:28,080 --> 00:00:31,560 Speaker 2: what he hoped for Infratoo before he passed away as 8 00:00:32,159 --> 00:00:35,120 Speaker 2: as creating a great New Zealand company is what he said, 9 00:00:35,159 --> 00:00:38,559 Speaker 2: which leaves quite a bit of room for interpretation. But 10 00:00:38,600 --> 00:00:41,159 Speaker 2: I think what he is capturing there is you know 11 00:00:41,360 --> 00:00:45,159 Speaker 2: there are it's more than a fund where you sort 12 00:00:45,159 --> 00:00:46,919 Speaker 2: of pop in a few investments, like if you're doing 13 00:00:46,960 --> 00:00:49,120 Speaker 2: your own investing and you sort of mix a match 14 00:00:49,120 --> 00:00:51,200 Speaker 2: and you come out with a financial return and that's happy. 15 00:00:51,520 --> 00:00:54,920 Speaker 2: His aspirations for Intole were much higher than that. A 16 00:00:54,960 --> 00:00:57,840 Speaker 2: company that and you sort of saw this when he 17 00:00:57,920 --> 00:01:01,800 Speaker 2: was alive, you know, was relevant to New Zealand and 18 00:01:02,080 --> 00:01:06,080 Speaker 2: other markets if possible. When he advocated for the stock 19 00:01:06,080 --> 00:01:09,520 Speaker 2: exchange not to be sold for various things that we're 20 00:01:09,560 --> 00:01:12,080 Speaker 2: going on with airlines and the flag. Those are the 21 00:01:12,160 --> 00:01:14,600 Speaker 2: levels of his aspirations for him a tool, and I 22 00:01:14,640 --> 00:01:17,120 Speaker 2: think we're sort of still working I think on that 23 00:01:17,360 --> 00:01:21,319 Speaker 2: part of his vision. How can you have kind of 24 00:01:21,319 --> 00:01:24,480 Speaker 2: a broader place in people's hearts and minds than just 25 00:01:25,319 --> 00:01:26,080 Speaker 2: like a spreadsheet. 26 00:01:27,120 --> 00:01:30,240 Speaker 1: And also, I mean eighty percent of the business is Australasians. 27 00:01:30,319 --> 00:01:34,760 Speaker 1: Still you call yourselves a global infrastructure investment company, but 28 00:01:34,880 --> 00:01:38,440 Speaker 1: actually a lot of it still is based here. But 29 00:01:38,560 --> 00:01:41,280 Speaker 1: I suppose is that always? Is that always what you're 30 00:01:41,319 --> 00:01:42,000 Speaker 1: hoping to. 31 00:01:41,959 --> 00:01:45,559 Speaker 2: Have or I think that's more just where we've come from, 32 00:01:45,640 --> 00:01:48,600 Speaker 2: which is a strength. So the more mature businesses will 33 00:01:48,640 --> 00:01:51,040 Speaker 2: be at home, the things where we're willing to take 34 00:01:51,080 --> 00:01:55,040 Speaker 2: more risk will tend to still be at home. First. Really, 35 00:01:55,040 --> 00:01:59,080 Speaker 2: where we want to take the investment portfolio is a 36 00:01:59,120 --> 00:02:01,400 Speaker 2: kind of a more global version of what you see today. 37 00:02:01,560 --> 00:02:04,720 Speaker 2: So could we have larger data seen the businesses offshore? 38 00:02:04,760 --> 00:02:07,040 Speaker 2: I think that would be interesting from an investment perspective. 39 00:02:07,160 --> 00:02:10,160 Speaker 2: And certainly we have every right, I think, given what 40 00:02:10,200 --> 00:02:12,240 Speaker 2: we've achieved so far and this part of the world, 41 00:02:12,400 --> 00:02:13,800 Speaker 2: to try to do that. And you can sort of 42 00:02:13,800 --> 00:02:17,600 Speaker 2: see that in renewables as well. Right, we've had huge 43 00:02:17,680 --> 00:02:21,720 Speaker 2: history with was TrustPower now monor energy tilt that came 44 00:02:21,760 --> 00:02:24,360 Speaker 2: out of it definitely earned the right I think to 45 00:02:24,400 --> 00:02:27,040 Speaker 2: try that offshore and Long Road in the US is 46 00:02:27,040 --> 00:02:29,840 Speaker 2: the early sort of signs that maybe we can translate 47 00:02:29,880 --> 00:02:31,480 Speaker 2: off that offshore, and we've got a few other ways 48 00:02:31,480 --> 00:02:34,680 Speaker 2: to try and integrate that model into other jurisdictions as well. 49 00:02:34,760 --> 00:02:37,240 Speaker 1: And Jason, what excites you about the future. 50 00:02:38,520 --> 00:02:40,880 Speaker 2: I think trying to become that great New Zealand company 51 00:02:40,919 --> 00:02:43,839 Speaker 2: is pretty exciting. Actually, a global version of what we've 52 00:02:43,880 --> 00:02:47,200 Speaker 2: got would be really exciting. I think for seer orders, 53 00:02:47,840 --> 00:02:52,440 Speaker 2: which includes me and actually a company that's known for 54 00:02:53,560 --> 00:02:55,799 Speaker 2: I think being relevant, as I said, that looks after 55 00:02:55,880 --> 00:02:58,880 Speaker 2: its staff, that looks up to its neighbors, that would 56 00:02:58,880 --> 00:03:03,000 Speaker 2: be a very happy place. Investing involves risk. You might 57 00:03:03,040 --> 00:03:06,000 Speaker 2: lose the money you start with. We recommend talking to 58 00:03:06,080 --> 00:03:07,680 Speaker 2: a licensed financial advisor. 59 00:03:08,160 --> 00:03:12,520 Speaker 1: We also recommend reading product disclosure documents before deciding to invest.