142: Novo Holdings: Controlling Shareholder of Novo Nordisk, Europe's Most Valuable Company - With CEO, Kasim Kutay

Money Maze Podcast

Business, Investing, Management, News, Business News

4.8 • 216 Ratings

🗓️ 30 May 2024

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this interview, we welcome the CEO of Novo Holdings, which manages the assets and wealth of the Novo Nordisk Foundation, one of the world’s largest enterprise foundations.

Novo Holdings is part of the Novo Group, which also incorporates Novo Nordisk and Novonesis (who combined are responsible for much of Novo Holdings’ inflows).

Novo Nordisk is a leading global healthcare company, founded in 1923 and headquartered in Denmark. Their purpose is to drive change to defeat serious chronic diseases, built upon their heritage in diabetes.

Novonesis, also part of Novo Group, serves 130 markets with enzymatic, microbial and advanced protein solutions.

As of year-end 2023, Novo Holdings had total assets under management of €149bn (DKK 1,114 bn). In addition to managing a broad portfolio of equities, bonds & other assets, it also has a substantial allocation into life sciences.

In this illuminating discussion, Kasim shares Novo Holding’s asset allocation, their corporate structure, the European regulatory context, their long term mission and the importance of the foundation’s life-saving work.

Kasim also covers balancing disbursements to the Novo Nordisk Foundation & re-investment in the fund, some criteria for working with external managers, their engaged ownership approach (especially in life sciences) and why they’re comfortable as a public firm.

He also discusses the challenge of increasing antibiotic resistance, how biology is assisting in the green transition and the breathtaking development of medical research (including the revolutionary role of AI in diagnostics).

The Money Maze Podcast is kindly sponsored by Schroders, IFM Investors and the World Gold Council.

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Transcript

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0:00.0	Welcome to the Wall Street Shuffle in the Money Russell
0:13.3	Welcome to the Money Mace podcast. I'm Simon Brewer and along with my co-founder, Will Campion. We created this show in 2020
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0:55.2	And we'd like to thank you for listening. If we could ask one favor, we'd love you to tell a friend
1:00.1	or colleague about us. Thank you.
1:18.1	After hearing of the discovery of insulin in 1921, Danish Nobel laureate,
1:23.5	Auguste, and his wife Maria, doctor suffering from diabetes, travel to Canada to seek permission from the researchers to produce the life-saving medicine in Denmark.
1:28.3	Two years later, in 1923, the first patients were treated with their insulin, ushering the
1:33.5	next hundred years of innovation and treatments for people living with serious chronic diseases.
1:39.0	But the permission to develop the insulin technology also require revenues generated
1:43.7	to help wider society, setting
1:46.1	in motion what it is day is known as the Nova Nordis Foundation. Today, Copenhagen has come to London,
1:51.7	and we're delighted to welcome the CEO of Nova Holdings, the controlling shareholder of Nova Nordis.
1:57.4	Kasim Kutai, welcome to the MoneyMase podcast. So, Kassim, let's get to know you a little better.
2:02.2	What kind of child were you?
2:04.0	Well, first of all, you know, a child with quite a mixed background, albeit from the Middle East,
2:09.7	a Turkish father, Syrian mother, born in Egypt, grew up in Lebanon.
	...

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