In this episode, Nick Kelly, portfolio manager at WAM Alternatives (ASX:WMA), explains how the fund is investing in long-term structural trends like the ageing population, food scarcity, digitisation and energy transition. We also unpack how WMA seeks private market exposure, expected returns, and lessons from Blue Sky’s legacy. In this Australian Investors Podcast episode, your hosts Mitch and Drew discuss: – The four mega trends driving WAM Alternatives' strategy – How WMA is investing in themes like food, ageing and digitisation – The structure and evolution of the WMA portfolio post-Blue Sky – Nick Kelly’s journey and philosophy as an alternatives investor If you love learning about alternative investments and structural trends, subscribe to the Australian Investors Podcast on Apple, Spotify, or YouTube! Follow us on Instagram and TikTok for more investing insights. Topics Covered – Nick Kelly’s background and start in investing – WAM Alternatives’ transformation from Blue Sky to now – How WMA accesses long-term mega trends like digitisation, ageing, food scarcity and energy transition – Return expectations, private markets, and the future of WMA’s portfolio Resources for This Episode – The ghost of Blue Sky Alternatives: will WMA close? https://www.raskmedia.com.au/2025/05/08/blue-sky-alternatives-asx-wma/ – Fizzled Blue Sky a lesson in need for transparency: short seller https://www.afr.com/companies/financial-services/fizzled-blue-sky-a-lesson-in-need-for-transparency-short-seller-20210127-p56x7w ~~ Rask Resources ~~ 🔗 Explore all Rask services – https://bit.ly/R-services 📋 Get Financial Planning – https://bit.ly/R-plan 📈 Start investing with Rask – https://bit.ly/R-invest 📜 Access Show Notes – https://bit.ly/R-notes ❓ Ask a question – just select the Investor Podcast – https://bit.ly/R-quest 📲 Follow us on social media: Instagram: @rask.invest TikTok: @rask.invest DISCLAIMER This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. You should consider if the information is appropriate for your situation before acting on it. If you’re unsure, consult a licensed financial planner. The Rask Group is NOT a qualified tax accountant, financial adviser, or tax professional. You can access The Rask Group’s Financial Services Guide (FSG) here: https://www.rask.com.au/fsg. #Investing #Finance #AustralianInvestorsPodcast