FidelityConnects

For today’s episode we welcome back Jessie Sarafian, host of our Invested in Wellness podcast and live webcast series. We’re taking a break from our usual content today and encourage you to stand up and stretch with this 10-minute exercise. Join Jessie as she guides you through a series of movements standing up. We will focus on balance and posture ensuring we stand proud and tall as we go about our daily life. Perfect for all levels. For more from Jessie, make sure to subscribe to her podcast “Invested in Wellness” or tune in to her live webcast on Wednesday’s at 12:30 pm eastern. Fidelity.ca/TheUpside for more information.

Today on the show, we talk to Matt Siddle, portofilo manager and co-manager of the Fidelity Europe Fund. Matt discusses the recent activity in European markets and where he is seeing investing opportunities in this second quarter. Matt says even though the US market tends to look stronger than the European market, he argues Europe is more attractive on a valuation basis. He says by looking at PE as a measure, Europe has more value options with half of the market below 15 times earnings.  US may have better growth stocks but Europe, from a broader perspective, is a better value proposition. Matt also looks ahead to June and discusses what a rate cut would look like if the ECB decides to cut. He says if this is a mid-cycle rotation and rates can come down without economic damage, this would be positive for markets. But if rate cuts are induced in response to a weakening market, which is not the current market sentiment, owning deep cyclicals would not be a good investment.  Matt suggests early cyclicals, consumer and defensive stocks would be the better investment. Matt also compares the banking story across many European countries and touches on China and India’s export story and its impact on Europe.

Recorded on May 3, 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 today’s podcast, we’re pleased to present another installment in our “Behind the Numbers” series, where Chris Pepper, VP, Corporate Affairs, sits down with Fidelity’s portfolio managers, analysts, subject-matter experts, and more, about what brought them into investing and what drives them every day. In this episode, Chris sits down with Dave Way, portfolio manager of Fidelity Long/Short Alternative Fund. We’ll hear about Dave’s career path and his interests outside of work. You can head to Fidelity Canada on YouTube to watch the video version of this interview. Special thanks to Eggspectations at 483 Bay Street in Toronto as our shooting location.

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.

Today on the show, institutional portfolio manager Ilan Kolet comments on the recent Federal Reserve announcement and what this means for markets and the positioning of the Fidelity’s Global Asset Allocation team. Ilan says what stood out to him in the Fed’s decision to hold rates is that there has been great progress made on inflation, but at the same time, in the last few months inflation has not been cooperative. There have been some lags in inflation indicators, but at this point it hasn’t shown up in the data. Once it does, inflation should move towards the target of 2 percent. Ilan points out the Fed decision doesn’t change much in the team’s positioning. The GAA team are still positioned stubbornly as he puts it for elevated inflation and what they think might be a very rare productivity expansion. Ilan also touches on the 60/40 portfolio, what a mini stagflation means, and compare the US versus Canada economic story.

Recorded on May 2, 2024

Today’s podcast is brought to you by the 2024 Fidelity Retirement Report. Head to go.fidelity.ca/retirement to receive the report and insights on how you can better prepare for your retirement, whatever that may look like.

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.

Today on the show, Peter Bowen, VP of Tax and Retirement Research at Fidelity Canada, breaks down the capital gains changes from the recently released 2024 Federal budget. He explains what the tax changes could mean for your clients and potentially their investment and retirement plans. Peter reviews what changed, including how the capital gains inclusion rate increased from one half to two thirds. He says most individuals won’t be affected, but these tax changes could affect corporations and trusts plus those with second homes, vacation properties and cottages. Peter also breaks down possible steps and scenarios for those affected by the capital gains changes. Those being small and large business owners, even doctors on the small business side.  Should you consider selling your investments within your private corporation, or sell your entire portfolio to trigger the capital gains? Peter says the decision depends on the time value of money and if you want to pay taxes early at a lower rate. Either way, he suggests, to sit down with your financial advisor and figure out a plan well before the June 25th deadline.

Recorded on May 1, 2024

Today’s podcast is brought to you by the 2024 Fidelity Retirement Report. Head to go.fidelity.ca/retirement to receive the report and insights on how you can better prepare for your retirement, whatever that may look like.

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.

Today we welcome long-time Fidelity investor Mark Schmehl to the show. Mark talks about opportunities he’s seeing in technology and AI and what other disruptive trends he’s seeing in the market landscape right now. Mark says his focus is on AI solutions. He says AI solutions are changing the fundamental ways that companies do business. He adds that companies must spend, otherwise, they will be wiped out by competitors that make use of AI. He gives India as an example. On a recent trip there, Mark talks about one company using AI to elevate cosmetics and help sell and market beauty products. Mark is not looking at marco themes or rate cuts and doesn’t believe it’s going to happen. His focus is different, as he puts it - looking “at the best stories in the market.” He emphasizes that his sell discipline has not changed. Mark says he likes to own “winners” , likes to bet large from an allocation basis, and likes to sell things when he gets it wrong. He says he’s talking to CEOs all the time and being based out of San Francisco gets him access to so much information and data, which allows him to paint a picture ultimately resulting in strong investment decisions. 

Recorded on April 30, 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.

Today we welcome special guest Chris Kuiper on the show. Chris is Director of Research at Fidelity Digital Assets. He discusses many digital landscape topics and trends including Bitcoin’s recent halving and SEC’s approval on Bitcoin ETPs. Bitcoin’s recent halving event is a process where the new incoming supply of Bitcoin is halved. This process takes place every four years and essentially reduces the reward given to miners for securing the network. Historically, Bitcoin halving usually precedes a surge in Bitcoin pricing, but it can also impact supply dynamics and Bitcoin scarcity. Chris notes despite halving reducing the number of Bitcoin received by miners, the significant increase in Bitcoin’s price over time has more than compensated for the reduction in coins received. Chris also comments on the SEC’s approval of Exchange Traded Products adding that ETPs for Bitcoin have been extraordinarily successful seeing massive inflows totalling over $12 billion in cumulative net flows in US dollars.  Assets under management for these US products exceeded $55 billion. He also discusses ethereum’s performance and the rise of newer cryptocurrencies like solana.  

Recorded on April 26, 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.

On April 18th and April 19th, Fidelity Investments Canada hosted FOCUS 2024, a two-day event for advisors, featuring insights from Fidelity’s portfolio managers and subject matter experts. Today’s podcast features portfolio manager Hugo Lavallée. Hugo manages several portfolios including Canadian Opportunities Fund, as well as co-manages Global Equity Plus fund with Mark Schmehl and Dan Dupont. Hugo sits down with host Glen Davdison to talk about his investment style and what opportunities he’s excited about these days. Hugo also digs deep into his contrarian style of investing, explains how artificial intelligence is an area of opportunity, and where around the world he’s finding companies to invest in.

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.

Today on the show, we check in with Fidelity’s Director of Quantitative Market Strategy Denise Chisholm and get her thoughts on recent job growth numbers, the Federal reserve’s next possible move, and the impact of current geopolitical risks. Denise dissects recent positive job growth numbers and says if you step back and look at the overall picture, you will see that year-on-year payroll growth or even three to six months back, we are only in the second quartile and the correlation you see in this segment in terms of payroll growth equating to average inflation, is that it is bang on 2% growth. She adds payrolls drive service spending, but is only one piece of the overall CPI puzzle - productivity plays a roll, too. She also comments on the resiliency and advancement of the equity markets suggesting that it is much less dependent on Federal Reserve rate cuts than many investors might think. Denise also touches on how geopolitical risks could affect the market, and what is in her bottom and top sector watch. 

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.