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Nigel Grant is joined by Liam Dann, Business Editor-at-Large at the New Zealand Herald, to discuss whether New Zealand's economic recovery is finally taking hold. Liam explores the uneven nature of the recovery, why some businesses remain cautious, and the reforms he believes could boost long-term growth, including compulsory KiwiSaver and higher contribution rates. He also shares his views on AI, productivity, migration, and why he remains optimistic about New Zealand's future.

Nigel Grant is joined by Chantal Giles, BlackRock’s APAC Head of Strategic Clients and Business Development, and Jason Collins, Head of Australasia at BlackRock, to unpack the Great Wealth Transfer and what it could mean for investors and families. They explore why longer lifespans could make this less about simply passing wealth between generations and more about moving it across life stages and asset classes, the growing role of women as wealth creators and financial decision-makers, and why families may need to become more comfortable talking about money. Chantal and Jason also share why setting clear goals, starting small, seeking advice and staying diversified could help more people participate in the opportunities created by investing. Interests in the ASB KiwiSaver Scheme and ASB Investment Funds (Schemes) are issued by ASB Group Investments Limited, a wholly owned subsidiary of ASB Bank Limited (ASB). ASB provides administration and distribution services for the Schemes. No person guarantees interests in the Schemes. Interests in the Schemes are not deposits or other liabilities of ASB. They are subject to investment risk, including possible loss of income and principal invested. For more information see the ASB KiwiSaver Scheme Product Disclosure Statement or the ASB Investment Funds Product Disclosure Statement available from this website and the register of offers of financial products at www.disclose-register.companiesoffice.govt.nz (search for ASB).The Morningstar disclaimer: Morningstar Awards 2026 © Morningstar, Inc. All Rights Reserved. ASB is awarded Fund Manager of the Year, KiwiSaver category, New Zealand.​ (00:00) - Introduction: The Great Wealth Transfer & 5 Years with BlackRock (02:00) - Meet Chantal Giles and Jason Collins (03:15) - Five years of the ASB and BlackRock partnership (06:31) - What is the Great Wealth Transfer? (08:43) - Why it may be more than a transfer between generations (11:19) - Retirement, business owners, and changing wealth decisions (15:09) - Women, wealth, and investing with purpose (16:50) - Why financial plans should involve the whole family (18:21) - Are we improving financial literacy fast enough? (20:36) - How families can prepare for future wealth decisions (22:02) - Why investing isn't about greed and shouldn't be intimidating (24:28) - Talking to an adviser: where should you start? (27:01) - The power of starting small and investing regularly (27:48) - One thing investors shouldn't lose sight of: diversification (28:57) - What advisers need to know about modern families (29:41) - Recommendations: books, films and music (32:03) - Key takeaways and final thoughts

Nigel Grant is joined by Kirk Hope, Chief Executive of the Financial Services Council (FSC), to unpack the FSC’s Prosperity Agenda and its vision for strengthening New Zealand’s financial future. Kirk breaks down why the FSC wants KiwiSaver contributions to gradually rise to 12%, the case for automatically enrolling New Zealanders at birth, and how a larger pool of national savings could give individuals, businesses and the country more choices over time. They also explore the role of insurance in building financial resilience, how New Zealand savings could support investment and economic growth, and why the FSC believes greater regulatory stability and a more coordinated approach to financial services could help turn long-term ambition into action.

Nigel is joined by Ben Speedy, ASB's Executive General Manager of Business Banking, to unpack why productivity matters for every New Zealander, not just economists. Ben breaks down how New Zealand's productive output compares to other economies, why an ageing population makes the productivity challenge more urgent, and why we need to think about the opportunity cost and the impact on NZ's growth if we don't balance capital flows to both housing and productive businesses. He also shares how AI adoption, through practical initiatives within ASB's Pathway to Productivity could help Kiwi businesses achieve more with less, and why reinvesting the gains rather than pocketing them could be key to genuinely growing the economic pie.

Nigel Grant is joined by returning guest Gertjan Verdickt, Associate Professor of Finance at the University of Auckland, to unpack the behavioural biases quietly shaping how we invest. From why we chase yesterday's best-performing stocks to why investors sell their winners and hold onto their losers, Gertjan breaks down salience, overconfidence, selection neglect and loss aversion, and shares the simple habit that could help investors see their own decisions more clearly.

Frank and Nigel unpack the sharp correction in AI-linked memory stocks, why South Korea's market has fallen heavily from its highs, and what a resilient US earnings season means for portfolio positioning. They dig into the US Fed's decision to hold rates, why the bond market reacted sharply to comments from new chair Kevin Warsh, and what it signals about control over the inflation story. Plus, Frank breaks down how ASB weighs transition and physical climate risk in portfolios, prompted by the wildfires across Western Europe.

Nigel is joined by Will Porter, Investment Strategist at BlackRock, to unpack the BlackRock Investment Institute’s mid-year outlook and its "scarcity versus abundance" framing for the AI era. Will breaks down why the sheer scale of power, materials and capital needed for AI's build-out could intensify scarcity before any productivity payoff shows up in GDP. He also walks through BlackRock's six macro calls spanning growth, the cost of AI, interest rates, debt, geopolitics and US leadership. From the shift from "just-in-time" to "just-in-case" supply chains, to the open question of who actually captures AI's value, it's a wide-ranging look at how to build a portfolio robust enough for either path. Important Information: This material has been created with the co-operation of BlackRock Investment Management (Australia) Limited (BIMAL) ABN 13 006 165 975, AFSL 230 523 on Tuesday the 21st of July. Comments made by BIMAL employees here represent BIMAL’s views only, opinions are subject to change and they are not a guarantee of future results. This material provides general advice only and does not take into account your individual objectives, financial situation, needs or circumstances.  Before making any investment decision, you should obtain financial advice tailored to you having regard to your individual objectives, financial situation, needs and circumstances. Refer to BIMAL’s Financial Services Guide at blackrock.com/au for more information. This material is not a financial product recommendation or an offer or solicitation with respect to the purchase or sale of any financial product in any jurisdiction.

Frank and Nigel broadcast from ASB Queenstown for a special on-location edition, joined by ASB senior economist Chris Tennent-Brown for his first Fridays with Frank appearance. They unpack why "challenged" is the word for where New Zealand's economy sits right now, how the AI and geopolitical fragmentation mega forces are shaping that picture, and what the upcoming election could mean for long-term strategy. Plus, why 4.1% inflation still matters for investors, and the AI market rattle sparked by the latest open-source model breakthrough.

Nigel is joined by Tarryn McKenzie, General Manager of People, Finance and Business Transformation at NZ Football, to unpack what it actually costs to build a successful national football programme. Tarryn breaks down the multi-year investment behind qualifying for and preparing for a FIFA World Cup, from six-figure international windows to prize money structures and sponsorship opportunities, and explains how NZ Football balances funding across grassroots development, the All Whites and the Football Ferns at the same time. It's a reminder that, much like a well-built investment portfolio, sustained success on the pitch comes down to years of planning, patience and diversified investment behind the scenes.

Nigel and Frank go full tactics board this week, using England's World Cup semi-final as the launchpad for a deep dive into the strategic asset allocation process. From why going "all-defence" after a big goal rarely pays off, to finding the portfolio's star striker and building a squad where every asset covers for the next, it's a look at how the team balances attack and defence across market cycles. Plus, the week in markets: strong US bank earnings, a rough one for IBM, cooling inflation data, and why the Strait of Hormuz might be the wildcard substitute that changes the whole game.

Nigel Grant is joined by Kirsten "KP" Patterson, Chief Executive of the Institute of Directors (IOD), to explore what governing for growth could look like in an uncertain economic environment. Drawing on the IOD's latest thought leadership, KP unpacks why growth may not happen simply by waiting out the cycle, and why boards might need to actively govern for it rather than default to cost management alone.

Sophisticated portfolio tools once reserved for institutional investors may now be within reach of everyday retail traders, with AI agents able to monitor stocks and execute trades automatically. Frank and Nigel explore new academic research suggesting human intervention may be doing more harm than good for investors using these tools, and what it might take to find a genuine edge when everyone has access to the same technology.

ASB Investment Podcast host Nigel Grant sits down with Damien Venuto, Money Editor at Stuff, to explore how financial media shapes the way Kiwis think about money. From the fragility gripping household sentiment right now, to the dangers of following a single financial influencer, to why holding an individual stock for years may not pay off the way you think, Damien brings a sharp, independent lens to the stories behind the numbers.

Frank and Nigel look back at the quarter that's just wrapped. They cover why US stocks could have had their strongest quarter in six years, what's driving the growing gap between AI-adjacent stocks and everything else, and how small caps managed a rally that's caught a few people off guard. Frank also digs into Rocket Lab's recent moves and what they could suggest about building a durable competitive moat.

ASB Investment Podcast host Nigel Grant is joined by ASB Senior Economist Kim Mundy to unpack New Zealand's Q1 2026 GDP result, a stronger-than-expected print that signals a broadening economic recovery, with business investment lifting and domestic demand sectors starting to stir. But with Q2 already shaping up to contract, how fragile is that momentum? Kim breaks down what the numbers mean for households, businesses, and the RBNZ, and why the Strait of Hormuz may matter more to your mortgage than the GDP headline itself.