Institutional portfolio manager Tom Rollins discusses some events taking place in the second half of the year and provides an update on Fidelity U.S. Growth Opportunities Class, managed by Kyle Weaver. Tom says the release of second-quarter earnings will give investors insight into how companies are performing and what their expectations are for the rest of the year. He also finds it interesting to see how the market reacts to these reports. Tom notes that his team has been less bullish towards the Chinese tech market within the past year due to the regulatory environment and increased competition. He also goes over the three buckets that his team uses: aggressive growth, strong long-term growth, and slower top-line growth in more mature industries. Aggressive growth stocks are strong performers at the beginning of the cycle, long-term growers are established companies that continue to grow, and slow growth stocks are under-appreciated stocks. Additionally, Tom notes that to ensure the portfolio remains safe but still has access to growth, the team uses a combination of all three buckets in the portfolio.

Recorded on July 27, 2021.

Transcript (PDF): https://www.fidelity.ca/cs/Satellite/doc/transcript_podcast_rollins_27july.pdf