FidelityConnects

On this episode, Portfolio Manager Sri Tella discusses the outlook for bond markets in the second half of 2024. He anticipates gradual rate cuts, with the Federal Reserve focusing on employment and inflation, while keeping options open for more aggressive cuts if needed. Sri highlights its diversification benefits of fixed income saying it has stability against a high market volatility environment. He talks about how historically; fixed income has shown an asymmetric return profile at market cycle inflection points. Sri also discusses the outlook for rate cuts in Canada. He says he expects the cuts to continue, though much of this is already priced into the market. He touches on the current positioning within defensive sectors, noting a shift towards higher quality within the corporate space, explaining how provincial bonds are favored for their lower volatility and better liquidity.

Recorded on August 23, 2024. 

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.

Portfolio manager Aneta Wynimko joins us today as she discusses the latest global consumer spending patterns and where she is finding investment opportunities in the second half of 2024.  Aneta talks about the challenges in the consumer sector over the past few years from spending on all sorts of beauty and health-related products coming out of the pandemic to slowly down spending in some parts of the world including China.  Aneta is shifting her investment focus to India and Vietnam pointing out a lot of big consumption opportunities there. She says the Global Consumer Industries Fund includes large positions with exposure to consumer tech, whether it's Apple or Netflix or Amazon. They have strong growth. They have good visibility of earnings and valuations, so they are core and pillar of the fund.  But Aneta also looks at other opportunities including early cyclicals - companies that will benefit if interest rates come down and when consumers will have more disposable income to spend. 

Recorded on August 21, 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.

Joining us today to delve deeper into the shifting tides of Canada’s economy is economist and futurist Linda Nazareth. Linda is a former Senior Economist with CIBC, and a current Senior Fellow for Economics and Population Change with the MacDonald-Laurier institute. Canada’s economic and labour landscape is continually evolving, and today they are significantly influenced by two major factors: AI and the green transition. So how might these factors be influencing how companies operate? What impact might this have on certain industries, investment decisions, and how we work? We’ll unpack this and more today with Linda, and host Pamela Ritchie.

Recorded August 1, 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.

Today we welcome Portfolio Managers Jeff Moore and Michael Plage as they discuss the fixed income landscape.  Jeff and Michael touch on topics such as the positive correlation between stocks and bonds, the sustainability of the 60/40 portfolio, and what steeper unwinds mean for the U.S. treasury curve.  With strong bond market flows, there have been significant returns, leading to an increased demand for treasuries in this sector. Jeff and Michael also touch on what geopolitical tensions could mean for fixed income. They explain how these escalations could accelerate Fed rate cuts and benefit bonds, but could also negatively impact equities.

Recorded on August 20, 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.

Earnings estimates continue to rise. This rise in earnings combined with falling rates could be a good backdrop for equities, a few high valuations notwithstanding. Joining us to unpack the latest market action is Jurrien Timmer, Director of Global Macro. Jurrien speaks with host Pamela Ritchie about the risks and effects of a possible rotation out of mega caps stocks and how a gradual reduction in rates by the Fed could change the economic landscape. Expanding on his market insights, Jurrien says if we do get a rotation out of the Magnifcent 7, we could be in a “careful what you wish for scenario.” He says wherever big stocks go, people will follow. Jurrien says we’re coming to a normalization in the market in both directions since the pandemic and he believes we are not heading into a recession. Jurrien says yes, we need to stay vigilant and monitor market moves, but investors should also take this as an opportunity to rebalance and diversify their portfolios. You can also see Jurrien’s slides on X, formerly known as Twitter.

Recorded on August 19, 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.

Today on the program, Fidelity Equity Research Analyst Payton Liske joins host Pamela Ritchie for an in-depth discussion on the U.S. aerospace and transportation sectors. With nearly 11 years at Fidelity, Payton’s diverse background offers a unique perspective on these cyclical industries. Payton dives into the challenges and opportunities facing the transportation sector, which has experienced significant volatility and earnings drawdowns since the pandemic. He also sheds light on the slow but steady recovery of the aerospace industry, where domestic air travel is rebounding, but also touches on the supply chain issues that hinder OEM production. Payton talks about the supply chain dynamics, and how the stronger pricing powers within the less-than-truckload segment has benefitted from the market consolidation. Payton also discusses how advancements in digital brokerage are reshaping the logistics landscape, offering smaller trucking firms greater access to business opportunities.

Recorded on August 16, 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.

Jurrien Timmer, Director of Global Macro, is back today for his quick hit “Timmer Time” to share why elections may, or may not, matter to financial markets. Also why bonds may be back!

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.

Today on the show, we welcome Institutional Portfolio Manager Naveed Rahman as he provides an update on Fidelity’s Global Intrinsic Value Class and where he is finding new opportunities globally. Naveed says the team continues to invest in high quality companies that are reasonably priced. The team’s strategy is not looking for cheap companies - rather they are focused on companies with attractive valuations and high margins. Naveed says in most downdrafts the fund has been able to capture 48% downside and about 85-86% upside making this fund a complementary piece to equity portfolios. Naveed adds the team is invested in small to mid-sized cap companies. The fund is not dominated by tech stocks and is not invested in the Mag 7. Rather the fund is invested in tech, but in secondary beneficiary companies that have a significant role in AI-related themes. He adds the fund invests in healthcare, energy and materials.

Recorded on August 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.

Today, we chat with Portfolio Manager Dan Kelley about founder-led companies and where he’s seeing opportunities in areas of AI and innovation. He discusses Founders Class Fund, which focuses on companies whose founders are still deeply involved in its daily operations. Dan highlights the appeal of founder-led companies, including those in the "Mag 7," which are closely tied to secular trends. He also anticipates broader opportunities, particularly in cyclically driven companies that have been cautious until now. He adds despite concerns of an economic slowdown, he identifies opportunities in consumer cyclicals and financials, where many companies are currently undervalued and offer promising long-term growth. Dan explains his excitement for the potential of generative AI, seeing it as a transformative technology with the ability to revolutionize daily life. But he adds, the rapid growth in AI, could cause some instability in the long term. And while the fund is predominantly focused on U.S. companies, it does have some international exposure, including Canada.

Recorded on August 13, 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.