Today, Rusty and Robyn are joined by Yuri Khodjamirian, Chief Investment Officer of Tema ETFs. Yuri spent over a decade at Majedie Asset Management managing UK and Global portfolios. As co-manager of the Majedie UK Income Fund, he helped build the fund from start-up stage, raising several billion in assets. He later set up his own long-only fund and sits on the board of a private Scandinavian biotechnology company. He holds degrees in Economics from University of Cambridge and LSE (distinction), as well as a degree in Bioscience Enterprise from University of Cambridge. Yuri is a CFA charter holder.

Key Takeaways

• [03:31] - Yuri’s professional background, career highlights and what brought him to Tema.
• [05:06] - More on Tema ETFs and what makes them stand out from their peers.
• [06:10] - Learn more about Tema’s investment process and philosophy.
• [07:24] - How does Yuri think up the ideas behind the funds they launch? What is his process?
• [08:37] - What is the trend of “American reshoring” and how does Tema select companies for this theme?
• [10:38] - What makes Tema think that reshoring in the US is a durable trend?
• [13:32] - How does Tema approach the healthcare sector differently from other sectors?
• [15:47] - What should we be paying attention to in relation to the anti-obesity market within healthcare?
• [17:42] - How is Tema doing “Moat Investing” differently than other firms?
• [19:48] - One of Tema’s tickers is “TOLL.” What are some examples of some of the companies they would include, or would not include, in TOLL?
• [21:42] - What do alternative investments mean for Yuri and what are his current thoughts on the space?
• [24:27] - What is Yuri’s favorite investment idea currently?

Quotes

[06:12] - “My key criteria for joining [Tema ETFs] was sort of - are we going to be really thoughtful about the types of strategies we launch?...What I was kind of encouraging was to build a very thoughtful process that was investment first. What are the most interesting [areas], what I call neighborhoods, of the stock market? ” ~ Yuri Khodjamirian

[08:45] - “The thesis [of American reshoring] is kind of the opposite of what was happening in the world many decades ago. So, if you think about the 1960s and from that point on - really a lot of companies, especially in the United States, started to send manufacturing abroad. They were motivated by labor costs [among] other things…and companies were offshoring…but what’s happened over I would say the last 15 years…is that companies are starting to realize that these supply chains are quite vulnerable…and suddenly the board room calculations [are considering] ‘shouldn’t I be building [supply chains] closer to the home market to gain an advantage?’” ~ Yuri Khodjamirian

Links

• Yuri Khodjamirian on LinkedIn
• Tema ETFs on LinkedIn
• Tema ETFs
• “Why Can’t We Be Friends?” by War
• The Browser Newsletter
• In Our Time Podcast

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• Meet Rusty Vanneman, Orion’s Chief Investment Officer
• Check Out All of Orion’s Podcasts
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Disclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor.

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