In this podcast John Harney, associate partner at AON, actuary and expert on pensions – see https://www.linkedin.com/in/johnwilliamharney/ leads the discussion on what was learned over the course of 2024 – how we separated the wood from the trees and what trends we perceived. Both Episode 270 Penny Green (https://www.fiftyfaceshub.com/270-penny-green-pensions-and-trustee-veteran-putting-members-at-the-heart-of-everything/) and Episode 289 Carol Geremia (https://www.fiftyfaceshub.com/289-carol-geremia-of-mfs-investment-management-why-fiduciary-responsibility-is-always-in-fashion/) have as their touchstones the end use – whether the beneficiaries of pension funds or consumers of investment products. Getting back to the wood from the trees we look at the growth of Total Return investing, in two conversations with sovereign wealth funds – both Derek Walker of CPP Investments (Episode 260 https://www.fiftyfaceshub.com/260-derek-walker-of-cpp-investments-total-return-for-the-portfolio-of-tomorrow/) as well as former CEO of NZ Super Fund Matt Whineray (Episode 287, https://www.fiftyfaceshub.com/287-matt-whineray-former-ceo-of-nz-super-fund-towards-a-total-fund-portfolio-aproach/). In the discussion with emerging managers spotting opportunity we cite the podcasts with Raudline Etienne (Episode 291 https://www.fiftyfaceshub.com/291-raudline-etienne-of-daraja-capital-the-power-of-being-first-when-scouring-for-talent/) and Hallie Label (Episode 249 https://www.fiftyfaceshub.com/249-hallie-label-of-expect-equity-what-to-expect-when-youre-nurturing-investment-managers/) We also cite the most downloaded podcast of the year Episode 261 with David Golub (https://www.fiftyfaceshub.com/261-david-golub-of-golub-capital-giving-culture-the-credit/) and its focus on culture as well as the emerging importance of private credit made for a fascinating discussion