Today on the show, Matt Siddle, portfolio manager of Fidelity Europe Fund, joins us to discuss the latest market movements in Europe, and where he is finding opportunities in 2023. Matt provides an outlook on the overall European Economy and how he’s positioning his fund based on the latest movements. He says one key item he’s keeping an eye on is natural gas. He says the tailwinds and issues of 2022 are gone as governments are now sourcing gas from other places, however; even with the rise in optimism, he says the economic environment in Europe will be tough in the next six to twelve months. Matt says the mood in Europe has improved, but data indicates the economy is starting to slow - data, job numbers and temporary staffing roles have contributed to the slowing economy. For him, he’s optimistic about the medium outlook for the next three years view however the next six months will be tough. For opportunities right now, Matt is focusing on businesses that are less volatile, less cyclically at risk and have cheap valuations.

Recorded on January 13, 2023.

Transcript (PDF): https://www.fidelity.ca/content/dam/fidelity/en/documents/transcripts/transcript-podcast-fidelityconnects-siddle-jan13-23.pdf

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