David Wolf and David Tulk, portfolio managers on Fidelity’s Global Asset Allocation Team are featured today for an update on the investment approach behind the several funds managed by the GAA team, including the Fidelity Managed Portfolios suite. David Wolf explains that a mixture of a strategic benchmark, individual security selection, and active asset allocation have meaningfully added to performance of Fidelity Managed Portfolios in the past. David Tulk reflects on where we are in the economy, what they’re seeing from Central Banks in North America and globally, and some thoughts on currency. Inflation continues to be a big story, and David Wolf introduces the strategy behind the new Fidelity Inflation Focused Fund, launched in September. The fund aims to invest in securities collectively resilient to inflation, an optimized balance between various inflation-focused asset classes in a single strategy. David shares this includes commodity equites that tend to go up with commodity prices for example, as well as global real estate equities and inflation linked bonds, among others. Also, David Wolf will be back soon for an episode solely focusing on inflation.

Recorded on September 29, 2021.

Transcript (PDF): https://www.fidelity.ca/cs/Satellite/doc/transcript_podcast_access2021_tulk_wolf.pdf