Manny Pohl: Is Growth still the right bet?

Manny Pohl may well be the father of growth investing in Australia.

Pohl grew up in South Africa and trained as an electrical engineer. A stint at the British building materials group Blue Circle convinced him that growth companies were a special breed; before long, he had switched careers to the financial sector. As the political environment shifted, Pohl migrated to Australia, landing on the Gold Coast to work for Westpac.

A British friend later wrote to Wilson HTM principal Steve Wilson, suggesting he meet with Pohl. The two hit it off, and after Pohl joined Wilson HTM, the pair decided to move into funds management. A strategy based on "quality growth" was formed, and they were off and running.

The approach caught the attention of Australia's institutional investors, leading to a decision to spin out and re-badge the business: Hyperion Asset Management was born. At its peak in 2025, Hyperion oversaw more than $17 billion in funds under management (FUM). Pohl, however, had already struck out on his own in 2012, forming ECP Asset Management with his children. Today, ECP manages over $3 billion.

For more than a decade, bolstered by generationally low interest rates, the quality growth strategy was the winning bet. Recently, however, rising rates and the emergence of artificial intelligence have challenged the group. Today, the industry is questioning what truly defines a "quality growth" company.

In this episode of Success and More Interesting Stuff, Pohl shares the early experiences that shaped his philosophy, how growth investing gained traction in Australia, and why he remains confident that better times lie ahead.

Time codes

• 0:00 - Introduction
• 2:02 - Early experience at Blue Circle cement
• 5:48 - The value of an engineering degree
• 7:21 - A transition to financial markets and investment analysis
• 9:29 - A research report that nearly put Manny Pohl in gaol
• 11:55 - Moving from South Africa to the Gold Coast
• 13:54 - An introduction to Steve Wilson from Wilson HTM
• 18:09 - Pioneering growth investing in Australia
• 22:00 - Early success with Queensland Gas (QGC)
• 25:38 - The creation of Hyperion Asset Management
• 28:27 - Exiting Hyperion and creating ECP Asset Management
• 31:43 - A fertile period for quality / growth investing
• 34:35 - Navigating a challenging period
• 38:48 - Opportunity emerging from artificial intelligence
• 41:56 - Embracing new technology
• 44:39 - Raspberry Pi Holdings PLC (LON:RPI)
• 46:35 - Succession and future-proofing ECP Asset Management