Pepe Morales, Manager of Alternative Investments at Rest Super, brings over 15 years of experience to a role that blends financial strategy with purpose. From investing in climate-tech and natural capital to navigating the challenges of impact authenticity, Pepe shares how thematic investing can drive both returns and meaningful change.
I manage Rest’s Alternatives portfolio, a thematic-led Whole-of-Fund strategy that acts as a completion portfolio for themes not covered in other asset classes—such as natural capital, food and sustainability, climate-tech, and emissions reduction.
My time is usually split between making new investments and managing our existing investments. I also spend time building relationships with internal and external stakeholders.
Given the thematic focus of the Alternatives strategy, what excites me most is being able to make investments that deliver a financial return while also having a positive social and environmental impact.
It’s essentially the flip side of my previous response. Historically, investments have focused primarily on generating financial returns. It’s challenging to find thematic investments, assess whether their intentions and impact are genuine (i.e. not just greenwashing), and ultimately strike the right balance between delivering an appealing return and having a positive impact.
What excites me most is being able to make investments that deliver a financial return while also having a positive social and environmental impact.
It’s important to have robust financial skills and a rigorous approach to investment analysis. Beyond the technical aspects, building strong relationships, effectively managing stakeholders, and being passionate about what you do are critical for success.
I was raised in Mexico and wanted to pursue a career in finance with a global firm, but there weren’t many opportunities locally. I first secured a junior role with Merrill Lynch while still in university. Then I joined a one-year program at UBS investment bank, where they hired three interns with the promise of one full-time role at the end. Luckily, another full-time role opened up halfway through the year, and I was able to properly break into the finance industry.
Develop robust financial skills and a rigorous approach to investment analysis early on, as these will be foundational throughout your career. Beyond the technical aspects, work for a manager or focus on a sector you’re passionate about. Investment management can be demanding, so staying positive and motivated is key to satisfaction and success.
Things have changed a lot since I was in university! If I were starting out again today, I would focus on upskilling in AI, as I believe it’s reshaping our industry—particularly the responsible and ethical use of AI.
Anything from Yuval Noah Harari.
I love electronic music and have been listening to Barry Can’t Swim and Fred Again.
I know it’s cliché, but AI is a big area of curiosity for me right now.
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If I were starting out again today, I would focus on upskilling in AI—particularly the responsible and ethical use of it.