Episodes
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Fidelity Director of Global Macro Jurrien Timmer is back on the show today to share his latest market thesis, and the macro themes moving markets this week. Jurrien emphasizes that recent economic indicators, including the CPI and jobs reports, suggest that the Federal Reserve may soon begin cutting interest rates, possibly starting as early as September. He explains how this could potentially benefit both bond yields and equities. He points out that inflation has moderated, giving the Fed room to ease monetary policy. Jurrien discusses broader market implications, such as the potential for a broadening market rally, and the impact of global political outcomes on market sentiment, particularly in relation to fiscal policies and regulatory environments affecting different asset classes like bitcoin and traditional equities. The conversation also touches on the performance of the banking sector, the global implications of Fed policies, concerns around deflationary risks, and an analysis of recent corporate earnings reports. Take a listen. Recorded on July 15, 2024.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.
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Institutional Portfolio Manager Abhijeet Singh joins the show today to take us through the current landscape of emerging markets around the world, and to discuss the investment themes shaping Fidelity Emerging Markets Fund. Abhijeet points out that a potential U.S. rate cut could benefit emerging markets by alleviating pressures from a strong dollar and high U.S. rates, which have historically posed challenges. He highlights specific regions like Brazil and Mexico, where maintaining higher interest rates has helped stabilize currencies despite well-controlled inflation. He contrasts the investment appeal of countries like China, with attractive valuations amid economic stabilization efforts, against India, where high valuations have tempered investment enthusiasm. In terms of sectors, he favors materials and consumer sectors but advises caution in tech due to inflated valuations. He highlights the benefits of a balanced growth at a reasonable price strategy, which positions the Fidelity Emerging Markets Fund to capitalize on diverse opportunities while managing risk and global uncertainties. Recorded on July 12, 2024.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.
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In today’s episode, we are once again joined by Director of Quantitative Strategy, Denise Chisholm, to discuss sector trends, market movements, and crucial topics in the investing industry. With the recent CPI number out, Denise believes a rate cut is likely. The latest data shows shelter costs aligning with 2021’s level, signaling that inflation pressures are easing. Denise then cautions that the rapid normalization occurring may feel like a recession given its contrast with the past decades conditions. She emphasizes that investors need to stay open-minded and consider diverse factors influencing the economy beyond recent historical norms. She notes that small caps have begun broadening out after a lagging effect over the past six months. Denise stresses the importance of considering earnings growth, as it drives the market. She says improving risk-reward profiles for small caps is evident if earnings growth accelerates and the Fed cuts rates. Denise closes off by giving her thoughts on Canada’s labour demand, diving into sectors sensitive to interest rates, and identifies attractive opportunities within small-cap stocks amid potential market shifts.
Recorded on July 11th, 2024.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.
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Today, we are joined by Portfolio Manager, Morgen Peck, to discuss value investing, opportunities in the international markets, and how the Global Intrinsic Value team co-manages their fund. Morgen begins by describing the Global Intrinsic Value fund as a co-managed fund that benefits from multiple portfolio managers specializing in risk evaluation and idea generation. It is a value fund with a quality tilt, offering strong downside protection during market drawdowns while keeping pace during upswings through quality stock picking. She then notes that there are numerous opportunities in the smaller and mid-cap segments. Looking internationally, Japan is also highlighted as a key area, as Morgen talks about its currently undervalued and overlooked public companies. Morgen also uncovers other hidden gems such as the driving consumer and energy sectors, the geopolitical landscape, and AI development. She closes off by going in depth with the fund’s contingency plans. While the fund doesn’t maintain a strong macro forward view, Morgen emphasizes a good margin of safety and downside capture, offering resilience in potential recessions. She says with her team, she is actively trying to provide results correlated with the funds unique nature.
Recorded on July 9th, 2024.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.
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Capital gains taxes are going up for some Canadians, but there’s a lot of confusion among investors and cottage owners about what it all means. Ottawa says it’s only targeting the 0.13% but could it affect a wider segment of the population? What do the changes really mean and could it impact you and your summer oasis? We’re talking cottages and capital gains today, featuring host Bryan Borzykowski breaking down these changes, and speaking with a number of experts including Fidelity’s Michelle Munro, Director Tax and Retirement Research, and Phil Soper, CEO of Royal LePage. Today’s interview was initially presented as a webcast in our Upside+ series, which you can watch on Fidelity Canada’s LinkedIn page or YouTube channel.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.
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Equities ended higher last week as fresh data showed weakness in the labor market, strengthening the case for the Federal Reserve to lower interest rates in September. With the mega growers continuing their highs, it continues to be a tale of two markets, making today's guest rethink the bullish broadening thesis. Joining the show today to share his latest market thesis and the macro themes moving markets this week is Fidelity Director of Global Macro Jurrien Timmer. Jurrien points out the dual impact of favorable inflation data and slower job growth, setting the stage for potential Fed action. He also notes the market's relatively calm reaction to recent political events, presenting historical data that suggests presidential elections have limited long-term impact on market returns. Jurrien speaks to the bifurcated nature of the current bull market, where a few mega growers dominate while broader market breadth remains narrow, posing challenges for stock selection as the gap between top-performing stocks and the rest of the market continues to widen. Recorded on July 8th, 2024.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.
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In today’s episode, we are joined by Portfolio Manager David Way, to discuss alternative strategies for the long and short fund in the third quarter. David provides insights for the growing interests in alternative investments, and the strategies to follow to help smooth out volatility in the current market. David begins by highlighting why alternatives are increasingly seen as a way to manage volatility. He talks about the opportunities available to enhance and generate returns on both the long and short funds. He emphasizes that given the current political volatility and market concentration, these strategies are proving valuable. When asked about the themes driving his stock picks and whether the AI story has been overplayed, David acknowledges that AI has led to a significant price appreciation within major companies. However, he also notes that there are companies facing existential risks from AI, and goes into the impacts it has on user metrics and revenue generation. He then talks about other relevant topics such as how the current rates environment is impacting his thesis, the performance of alpha in his short portfolio, and other risks involved in his long and short strategies. David then concludes with his thoughts on where we are in the market cycle, providing a broader perspective on how to navigate the current economic landscape.
Recorded on July 4th, 2024.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.
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In this episode, Investment Director Tom Stevenson joins us to discuss the impacts of the recent UK election results on the markets. Tom addresses the potential implications of the Labour party government on investing in the UK providing insights into how stock markets typically respond to elections. Tom highlights the positive response to the shift in power, looking at the equity market, fixed income/bond markets, and the pound, all of which have risen. Discussing trade and foreign direct investment, Tom explains that the new Labour government is likely to positively impact sectors like home building, while potentially imposing more taxes on oil and gas sectors. One of the Labour’s key strategies to promote growth is to rebuild relationships with the EU, which could enhance trade relations outside of Britain. Tom does note how the UK market is heavily influenced by global factors. Tom concludes that the election results is viewed positively for the domestic economy, making the UK market an attractive option for investors.
Recorded on July 5, 2024.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.
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For a few years now, we’ve welcomed today’s guest to our advisor-only live webcasts, and are pleased to offer this discussion also as a video podcast. Carlos Cardone, Senior Managing Director of Investor Economics, sits down with host Pamela Ritchie to share his team’s findings on the wealth management industry in Canada. This includes the latest trends shaping the industry so far in 2024, including the rising popularity of active ETFs, and much more. Investor Economics research is supported by a number of slides, so for those listening we encourage you to view this discussion on a platform that supports video podcasts such as Spotify or YouTube Music, for the full experience.
Recorded on July 3, 2024.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.
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Fidelity Canada offers a range of Canadian, US, and global ETFs in different asset classes. Whether it's active, factor-based, fixed income, sustainable investments or digital assets, Fidelity offers a mix of ETFs for various investment styles or time horizons. Joining the show today to talk us through his best ideas with Fidelity ETFs, and for a look at the latest ETF industry trends, is Fidelity ETF strategist Raghav Mehta. Raghav delves into the concept of using factor-based models in ETF selection, citing Fidelity's Systematic Canadian Bond ETF as an example of how quantitative analysis can optimize bond portfolios for risk-adjusted returns. He also emphasizes the importance of seasonality in investment decisions, and how historical patterns can guide current strategies. As an example, he highlights the potential benefits of Canadian bonds with extended durations following rate cuts, pointing out their historical outperformance in such periods. He also discusses Fidelity's All-In-One ETFs as comprehensive solutions for diversified portfolios, being designed to navigate various market conditions efficiently, and explains his team's strategic approach to their ETF offerings, blending historical analysis with quantitative methods to address investor needs across different asset classes and market environments. Recorded on June 28th, 2024.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.
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In this episode, we are joined once again by Director of ETFs, Andrei Bruno, to discuss the current third quarter in capital markets. Andrei provides valuable insights into the latest data, market trends, and investment strategies to navigate the current economic landscape. He starts by highlighting the importance of retail sales and inflation numbers this past week. H examines both US and Canadian data, noting a slight uptick in unemployment, but nothing concerning at this stage. He also touches on the divergence in market flows, and how each countries yield curves are looking. When asked about buffer ETFs, Andrei acknowledges that they haven’t gained a tremendous amount of traction. He explains that in a scenario where markets decline significantly, buffer ETFs are likely to outperform, offering a level of protection for investors. He then discusses the role of nuclear power in supporting the new, developing, AI ecosystem. He argues that nuclear power is essential for meeting increased energy demand while minimizing gas emissions, emphasizing its importance beyond just AI. Andrei closes off by sharing his cautious optimism about equity markets for the second half of the year, predicting that the US will not enter a recession this year, with these risks instead being pushed to 2025. He also answers questions regarding international equity exposure, the concept of deflation in markets, and future investments.
Recorded on July 2nd, 2024
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.
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For today’s podcast, we’re featuring Jessie Sarafian, host of Fidelity Canada’s “Invested in Wellness” podcast and live webcast series, who will take us through stretching exercises for our hands and wrists. There is a lot of strain on our hands and wrists these days – computers, phones, tablets, gaming, and more – and this discomfort can spread to the neck and throughout the body, so let’s take a few minutes to relax our muscles today with these simple exercises.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.
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Today, we’re joined by Fidelity Portfolio Managers Sri Tella and Lee Ormiston to discuss the latest economic developments, and what the results mean for investors. Our focus today is on the Bank of Canada’s recent interest rate cut, inflation, and evolving fixed income strategies. Lee shares his thoughts on the higher-than-expected CPI, highlighting that Canadian inflation has a momentum that is rising faster than global trends. Meanwhile, Sri talks about the timing and pace of these cuts, advocating for a gradual approach to these rate reductions. Both then discuss the yield curve, and how they anticipate it to steepen in the short-term. Lee mentions that long term rates are currently fair, and he sees opportunities in the front end of the yield curve. Sri then addresses the current economic outlook, and future investment implications. He suggests that regardless of the current recession risk, there is a low probability for recession given the strong labour market and population growth. Lastly, the two discuss their fixed income positioning, emphasizing a focus on ten-year notes, and a cautious approach due to long-end yield curve inversion. They close off by stressing the importance of earning yield with controlled risk, while simultaneously adapting to economic and market changes.
Recorded on June 27th, 2024.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.
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In this episode, we check in with Director of Quantitative Market Strategy Denise Chisholm for her bi-weekly sector watch and what recent data is telling us about the broader economy. Denise believes the markets have had a muted reaction to recent jobless claims cementing her theory that the market is experiencing a very soft-hard landing. But is this softening too quick? Hiring continues in the labour market, but the question is will this last? Denise believes month-by-month numbers are not predictive of what’s happening in the broader market. To really understand, she says you need to zoom out and focus on the year-on-year changes. The only true predictive factor to her is profits and earnings. And at this moment, it seems like companies have enough capital to keep people employed and on the payroll. She touches on how inflation dynamics are playing out very differently in terms of profits. Why are we having this bull market? How is this affecting the consumer sector? Denise says the deceleration in the market has been good for the stock market, but not good for purchasing power on the consumer. Individuals are finding it hard to dig out of rent increases, food inflation, and housing issues. She advises investors to be on the defense and offence. She sees strength in utilities, healthcare and consumer staples. And if you want to look into the offence, financials, real estate and industrials could be something to consider.
Recorded on June 27th 2024.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.
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Today on the show special guest Jack Mintz joins us. Jack is an economist and President’s Fellow at the School of Public Policy at the University of Calgary. He discusses Canada’s economy, and challenges Canadians face in this current market environment plus he highlights the recent changes to capital gains taxes. Jack shares his thoughts on the capital gain inclusion rate, touching on both the individual and corporate levels. He points out the capital gains inclusion rate is increasing from one half to two thirds. For individuals, there is a threshold of $250,000 where the 50% inclusion rate still applies. Most individuals won't be significantly impacted by this change, he says, but other taxpayers like corporations and trusts are affected from the first dollar. These new rules will come into effect on June 25th and the impact of these changes on the market is uncertain and will be observed over time. Jack also touches on the inflation story and how he does not see inflation dropping again any time soon, and that it’s going to take some time to get back to 2%. In terms of international investments, Jack believes that the current environment is a deterrent for foreign companies considering acquiring Canadian firms. He points out that Canada is struggling to attract investments, and how the country’s real per capita GDP has been declining for the last six quarters. Jack also addresses concerns about population growth, productivity output, and M&A synergy.
Recorded on June 25, 2024.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For the third year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2023 Environics’ Advisor Digital Experience Study.
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In today’s episode, we are joined by portfolio manager Aneta Wynimko as she gives us an update on global consumer trends and where she is seeing opportunities in the consumer space. Aneta says the beauty space in Europe has grown a lot since the pandemic especially in the fragrance area. She also notes the fragrance niche is hitting the younger female generation as opposed to the older female age group. She comments how the European economy is much more different and slower than the US economy sparking tourism influx into Europe. She notes prices haven't gone up that much in Europe making things much more affordable which is why you’re seeing a massive migration of tourists coming on holiday to European countries. She also notes higher ticket discretionary items are suffering as she says people are hesitant to invest in big ticket items for fear of going into debt. Aneta says anything to do with home improvement is very sluggish. Auto sales like the EV sales trend has slowed down quite a bit. Aneta also comments on the demand of spirits, chocolates and weight loss drugs and the effects they have on the consumer space.
Recorded on June 21st, 2024.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For the third year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2023 Environics’ Advisor Digital Experience Study.
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Hello, and welcome to FidelityConnects, A Fidelity Investments Canada Podcast. Connecting you to the world of investing, and helping you stay ahead. In today’s episode, we are once again joined by Director of Global Macro, Jurrien Timmer, to discuss key topics impacting the market in the second half of 2024. Jurrien looks at the current trends and suggests that we can expect a drama-free market. He notes that earnings growth is becoming more resilient, with positive momentum indicating a double-digit earnings growth for the latter half of the year. He highlights the significance of AI in driving economic growth. He explains that AI is one of the few factors that may generate sufficient economic growth to counteract the rapidly growing debt, and that productivity Is crucial for companies during this period to avoid falling into a debt trap. Jurrien then offers asset allocation advice, noting that bonds remain a competitive and viable asset class. He stresses the importance of diversification, suggesting that investors consider a broader range of options, including TIPS, commodities, and alternatives. As always, Jurrien shares his charts so please go to @TimmerFidelity on X (Formerly Twitter) to follow along.
Recorded on June 24th, 2024.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For the third year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2023 Environics’ Advisor Digital Experience Study.
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Today we speak to co-managers of Fidelity Global Small Caps Opportunity fund Connor Gordon and Chris Maludzinski as they give an update on the fund, talk about their investing strategy, and where they are finding hidden gems in North America and globally. Chris points out the fund is 60 percent US-focused, but the other 40 percent is looking more attractive as valuations come down. Chris says being able to harness Fidelity’s global resources, visit management and go to trade shows is helping the team find attractive risk-reward opportunities. Connor adds that with global allocation they don’t take a top-down view and see it as an asset class, but rather an opportunity set. For example, mining equipment includes a lot of large caps in the US, but outside of the US, they are finding what they call “hidden global champions.” Chris adds that they believe volatility creates dislocation, and dislocation creates mispricing. They are putting the work in now so that they have a list of companies with price targets that they want to execute when the time comes. They go deeper into their selection of companies. Chris says they try to find dislocations, mispricings, and high-quality companies - which for them means companies that can grow earnings above market rates of return and have multiple arbitrage. Connor adds they look for situations where a quality company is mispriced because then we can have a differentiated view. Chris and Connor also discuss how AI fits in this mispricing story, how value and growth are interconnected, and how small caps are faring in this current high interest environment.
Recorded on June 20th, 2024.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For the third year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2023 Environics’ Advisor Digital Experience Study.
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Portfolio Manager Ramona Persaud joins us today to discuss her current investment strategies, how valuation is currently being dispersed, and how international markets are performing. Ramona talks about the current performance of value and dispersion outside the US, particularly in continental Europe, the UK, and parts of Asia – and touches on the potential in more cyclical sectors such as tech. She highlights how there is increased value dispersion and alpha signal abroad. She explores how the Europe’s concerns regarding sustainable growth have shifted focus from the energy sector to one of defense and notes how her team in Europe is always swiftly adapting to these changes. Despite market uncertainties, Ramona emphasizes how she continues to find compelling valuations in mid to large-cap sectors, and also talks about the importance of finding dispersion opportunities abroad.
Recorded on June 18th, 2024.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For the third year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2023 Environics’ Advisor Digital Experience Study.
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With the Federal Reserve’s recent decision to hold rates amid cooling inflation, what does this mean for markets and the overall health of the ecomony in the US and in Canada? We sit down with portfolio manager and Fidelity Canada’s Chief Investment Officer, Andrew Marchese, to get his latest insights on the market landscape plus what potential opportunities there are for institutional investors. Andrew touches on this latest divergence in the market. The Fed has held rates and the Bank of Canada is relaxing. Andrew says he’s not surprised the path that interest rate policy is going at the moment. He says it’s important to evaluate profit and cash flow streams of companies into 2025. In terms of equity allocation, Andrew says we’re having an idiosyncratic year around stock selection. He’s always been pro-US in companies to invest in and he says it’s important to think long-term horizon. He adds he’s also paying close attention to utilities and commodities sectors.
Recorded on June 13th, 2024.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.
For the third year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2023 Environics’ Advisor Digital Experience Study.
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