Recorded live on June 3 in Victoria, Nicola Wealth Advisor | Client Relationship Manager, Chris Warner, hosts a timely discussion on the forces shaping today’s investment environment.

• Ben Jang, Portfolio Manager, Investment Strategist, opens with a compelling analysis of the four key indicators that have preceded every bear market over the past 200 years, and why all four are now in play.

• Shaun Blythen, Vice President, Real Estate Investments & Portfolio Strategy, provides an update on Nicola Real Estate’s development activity in Victoria and discusses the long-term role of real estate in diversified portfolios.

• Ashley Ng, Senior Director, Head of Infrastructure Investments, closes the conversation with a look at the role of infrastructure within private capital and how the asset class has historically demonstrated resilience through various market conditions.

Together, these insights highlight how a thoughtful, multi-asset approach can help investors remain resilient and well-positioned, even as conditions shift.

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13:42 - 13:47 - 8.1% annualized return for Nicola Core Portfolio Fund. Ranking by 10-year Return as of Dec 31, 2024. Compared against AIMCO, BCi, CDPQ, CPP, HOOPP, OMERS, OTPP, PSP. PSP and BCi as of March 2024.

14:47 - 14:58 - Total Portfolio Returns (Dec 1986 - June 2024, Equal Weighted %). Outperformance in reference to TSX Composite.

14:58 - 15:08 - Annualized Volatility (Dec 1986 - June 2024). Outperformance in reference to TSX Composite.

17:27 - 17:34 - Nicola Canadian Real Estate Limited Partnership; inception date: Dec 2005. Since inception return of 8.9%

17:35 - 17:49 - Nicola U.S. Real Estate Limited Partnership; inception date: June 2010. Since inception return of 9.9%

17:50 - 18:01 - Nicola Value Add Real Estate Limited Partnership; inception date: Nov 2014. Since inception return of 11.9%

In this episode, Rob Olsen, Head of Private Capital at Nicola Wealth, and Jason Luo, Senior Director of Venture Capital, speak with Han Kim, Co-Founder and Managing Partner at Altos Ventures, a global venture capital firm known for backing breakout companies like Roblox, Coupang, and Woowa Brothers.

Han walks through Altos’ early challenges, from launching a fund just before the Asian financial crisis to navigating the dot-com bubble, and explains how those experiences shaped a long-term, founder-first approach to venture investing. The conversation explores what it means to invest with conviction, why the best opportunities often require patience, and how staying close to founders can lead to rare, compounding outcomes.

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Recorded live on May 29 at the Nicola Wealth Vancouver Strategic Insights event, this episode features Chairman, CEO, and CIO John Nicola in conversation with the firm’s senior investment leaders. Together, they explore how the team is approaching today’s market environment and identifying opportunities across real estate, private capital, and public assets.

Featuring:

• Alex Messina, Managing Director, Nicola Real Estate
• Robert Olsen, Head of Private Capital
• Ben Jang, Portfolio Manager, Investment Strategist
• William John, Co-Head, Public Assets – Fixed Income

This episode shares our perspectives on portfolio construction and the role of different asset classes in a diversified strategy.

In this special episode recorded live at the Canada Private Markets Meeting in Toronto, Nicola Wealth’s Founder, Chairman, CEO and CIO, John Nicola joins Michael Kaumeyer, Vice Chair, Nicola Family, for an insightful conversation on leadership, legacy, and navigating uncertainty.

John reflects on the unexpected path that led him into financial services and the deliberate decisions that shaped Nicola Wealth’s unique model, one built on integrated planning, long-term thinking, and shared ownership. From early lessons in sales to building a multi-generational firm, John shares what he’s learned about scaling with purpose and preparing for succession.

The discussion also explores today’s shifting economic and geopolitical landscape, with John offering a candid perspective on risk, cash flow, and how thoughtful portfolio construction can offer stability in volatile times.

In this episode of In the Ring with Rob, host Rob Olsen is joined by Nicola Wealth’s Matt Choi and guest Rahman Vahabzadeh, Managing Director at Audax Private Debt, one of the most established firms in the space with over $24 billion in assets under management.

Together, they explore how private debt has evolved into a key component of today’s investment portfolios, why it’s gaining traction with both institutional and individual investors, and how firms like Audax are navigating an increasingly complex and competitive market. From the rise of unitranche financing to what makes a deal resilient in uncertain times, this episode offers a clear, inside look at how private lenders approach risk, return, and long-term opportunity in the U.S. middle market.

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In this timely episode, Gary Mar, President and CEO of the Canada West Foundation and former Alberta Cabinet Minister, joins Ben Jang, Portfolio Manager and Investment Strategist at Nicola Wealth, to discuss the recent Canadian federal election and what the results could mean for the economy, energy, and national unity.

The conversation explores the potential for cross-party cooperation, the evolving relationship with the United States, and how Canada can strengthen its position through productivity, infrastructure, and Arctic strategy. Together, they offer a thoughtful and wide-ranging discussion on the decisions that could shape Canada’s economic future.

What does it take to build a firm that lasts—and a culture that grows with it? In this episode, recorded live at the 2025 Private Wealth Canada West Forum, Nicola Wealth Chairman and CEO John Nicola joins board member and Rethink Founder Tom Shepansky for a thoughtful conversation on leadership, growth, and the value of sharing success.

From the early influences that shaped his thinking to Nicola Wealth’s “Share the Pie” philosophy, John offers insights on building a resilient business, investing in people, and staying focused on the long game. For entrepreneurs, executives, and investors alike, it’s a valuable perspective on what sustainable success really looks like.

2:04 - The importance of a strong network

7:03 - Authors of significance

8:51 - Where Share the Pie originated

14:00 - Growing your company, by sharing it

18:24 - How to play the long game

22:47 - The importance of giving back to your community

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Ben Jang, Portfolio Manager at Nicola Wealth, joins host Jasmine Maricic to discuss key developments from the first quarter of 2025 and the potential implications for the global economy.

They review market reactions to U.S. tariffs and their broader impact on trade dynamics, including Canada’s positioning in a shifting global landscape. Ben also shares perspectives on Canadian and U.S. equity valuations, diverging labour market trends, and the return of terms like “stagflation” to economic discourse.

The conversation touches on European equity performance, inflation and interest rate expectations, and the evolving role of fiscal and monetary policy. Ben also outlines how Nicola Wealth’s multi-asset portfolios are managed to stay diversified and respond to changing conditions across public and private markets.

Highlights

1:02 - How much has Trump shaken up the Global Economic landscape with the recent tariff threats?

6:35 - European Union x Canadian Trade

11:04 - U.S Exceptionalism

12:51 - Trade tensions and how they are impacting the Canadian interest rate

15:10 - Why have European stocks outperformed US stocks this last quarter?

18:00 - The importance of a diversified portfolio

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