FidelityConnects

Portfolio manager Darren Lekkerkerker explains that in the Federal Reserve’s September meeting they increased their views on what inflation would be this year and next year. He expects we’ll continue to hear lots about supply chain problems and pressure on raw materials. For Canadian investors, Darren manages Fidelity North American Equity Class, and manages the equity subportfolio of Fidelity Canadian Balanced Fund, among other mandates. Looking at inflation, Darren poses two questions – what stocks can benefit from inflation? And do the high-quality stocks he owns have the pricing power to cover the costs of inflation? Also on today’s show, Darren and host Pamela Ritchie discuss digital infrastructures, mergers and acquisitions, gold, supply chains, and how software and information services companies currently have strong pricing power. Darren also co-manages Fidelity Global Natural Resources Fund and looks at some recent news surrounding natural gas.

Recorded on September 23, 2021.

Transcript (PDF): https://www.fidelity.ca/cs/Satellite/doc/transcript_podcast_lekkerkerker_23sept.pdf

Fixed income portfolio manager Jeff Moore is back for his monthly look at the fixed income landscape. For Canadian investors, Jeff manages the Multi-Sector Bond Fund, Investment Grade Total Bond Fund, and several other mandates. Jeff shares that the August CPI (Consumer Price Index) report indicates cooling inflation. While this means that the U.S Federal Reserve probably won’t hike rakes imminently, many believe that a tapering could be announced in the near future. Jeff looks at global demographics, noting there is a headwind on GDP as the world population ages. He also speaks about current positioning for his funds.

Recorded on September 22, 2021.

From the state of the global vaccine distribution program to the outlook for the overall health care sector this fall, portfolio manager Alex Gold joins the show today, speaking to us from London, England. For Canadian investors, Alex manages Fidelity Global Health Care Fund, an equity fund that offers exposure to dynamic growth opportunities across the global health care sector. Alex shares regional and global opportunities he’s looking at for his fund, and promotes the benefits of being aided by global healthcare analysts who provide local insights. One area Alex is watching is how drug pricing in the U.S. has an impact on European companies that operate in the U.S., and also that a lot of healthcare businesses have exposure outside of the U.S. in countries such as China.

Recorded on September 17, 2021.

Transcript (PDF): https://www.fidelity.ca/cs/Satellite/doc/transcript_podcast_gold_17sept.pdf

Today we welcome back Director of Global Macro, Jurrien Timmer. This global macro and markets update was recorded on Monday September 20th, a day that experienced some volatility in the markets. Jurrien dives into why Monday was volatile, and looks at what the major narrative is in the markets right now. Jurrien notes to host Pamela Ritchie the S&P 500 had tested it’s 50-day moving average several times over the past year and every time it survived it to make new highs. Monday September 20th was the first time in a year where it was below the 50-day moving average. Head to @TimmerFidelity on Twitter to follow along with a few charts.

Recorded on September 20, 2021.

Transcript (PDF): https://www.fidelity.ca/cs/Satellite/doc/transcript_podcast_timmer_20sept.pdf

Our discussions surrounding the 2021 Canadian federal election continue with another Fidelity expert panel. Peter Bowen, VP of Tax and Retirement Research, Andrew Clee, VP of Product, and Ilan Kolet, Portfolio Manager on the Global Asset Allocation team discuss the election results with host Pamela Ritchie. The panel reflects on the tax and investment implications for Canadians overall, and specifically for financial advisors. The content in this episode is suited for a financial professional audience. Personal investors are encouraged to listen to the “Canada election: Insights and analysis for investors” episode.

Recorded on September 21, 2021.

Jeremy Podger, portfolio manager of Fidelity Global Fund, discusses his portfolio positioning and shares his regional outlooks amidst an uneven global recovery. Jeremy breaks his holdings into three categories - change, value and franchise - with different criteria and time horizon expectations applied to each category. Jeremy shares where he is currently finding opportunities around the world, noting he has been adding more names based in India of late. Jeremy speaks about the distortion in labour markets in both the U.S. and Europe, looks at slowing growth in China, discusses the developed world recovering faster than emerging markets, and shares his thoughts on financials, consumer staples, and health care.

Recorded on September 14, 2021.

Transcript (PDF): https://www.fidelity.ca/cs/Satellite/doc/transcript_podcast_podger_14sept.pdf

News outlets projected another minority government late Monday night as voters dealt Liberal leader Justin Trudeau nearly the same hand of cards he had when the campaign began. Join Fidelity’s expert panel for a discussion about the potential tax and investment implications for investors following the Canadian election. Michelle Munro, Director of Tax and Retirement Research, Nicolas Bellemare, Equity Research Analyst, and Reetu Kumra, Equity Research Analyst, join host Jason Stahl to unpack the election results, share what to look out for in the markets, and look at important platform points including housing, climate change, and vaccination rates.

Recorded on September 21, 2021.

Transcript (PDF): https://www.fidelity.ca/cs/Satellite/doc/transcript_podcast_munro_bellemare_kumra_21sept.pdf

Fidelity experts share an interactive panel discussion on equity research findings and investment opportunities across leading sectors. Director of research and portfolio manager Joe Overdevest joins the show today, along Nicolas Bellemare and Reetu Kumra, equity research analysts. The panel discusses a wide array of topics, including housing and commercial real estate, financials, insurance, commodities and tech. Joe shares insights into Fidelity’s research capabilities, and the sheer amount of company access and research available to the team of portfolio managers and research analysts. The panel also unpacks about how potential outcomes to the Canadian Federal Election may affect banks.

Recorded on September 16, 2021.

Transcript (PDF): https://www.fidelity.ca/cs/Satellite/doc/transcript_podcast_analyst_panel_16sept.pdf

Fixed-income portfolio manager Sri Tella shares his perspectives on the Canadian economy, and unpacks the big inflation debate in the markets right now. For Canadian investors, Sri has portfolio manager or subportfolio manager responsibilities on 12 Fidelity Canada mutual funds, ETFs and private pools. Today, Sri looks at the upcoming Canadian federal election. Sri also comments on housing and Canada’s debt levels, among other topics. Sri explains how the bond markets may be affected by the Bank of Canada keeping it’s key interest rate target and the U.S. Federal Reserve planning to dial back it’s ultra-low rate policies.

Recorded on September 16, 2021.

Transcript (PDF): https://www.fidelity.ca/cs/Satellite/doc/transcript_podcast_tella_16sept.pdf

Portfolio manager Steve MacMillan shares that he is currently focusing on business that are gaining market share, and have secular growth to them. He’s not necessarily looking for businesses that need a strong economy to grow, but rather ones that can do well regardless of what the economy is doing. Steve manages Fidelity Small Cap America Fund and American Equity Fund. Steve also co-manages Fidelity CanAm Opportunities Class with Mark Schmehl. Steve believes that U.S. equities offer a complement to Canadians. Also that the technology and consumer sectors are larger in the U.S. than in Canada, while the energy and financials sectors are smaller parts on the U.S. market compared to Canada.

Recorded on September 15, 2021.