FidelityConnects

Portfolio manager Sri Tella joins us on the program to discuss the latest Bank of Canada announcement and how that could affect Canadian bonds. Sri says the last BoC announcement signals an intention to cut rates and potentially adopt a less restrictive or more simulative approach. He adds the Fed shares a similar concern and outlook. They are aiming to keep inflation in check before considering rate cuts. Sri says financials particularly the Canadian banking sector continues to show consistency. This stability makes it a favoured and significant sector in the Canadian corporate market. Conversely, non-financial corporates are more of a neutral outlook due to higher interest rates and refinancing challenges.

Recorded on December 8, 2023.

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 the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

Today on the program we speak to Denise Chisholm, Director of Quantitative Market Strategy and portfolio manager Ramona Persaud. They highlight sector shifts and dividend opportunities in 2024. Host Pamela Ritchie asks Ramona as the year wraps up, how is she navigating the current market dynamics and how that influences her investment decisions. Ramona says her approach still revolves around 3 main objectives: excess returns, downside protection and reasonable level of income. As a conservative investor, volatility is a critical consideration and aligning the investor experience with the fund’s performance. Ramona says for 2024 a nuanced market might make way for under appreciated sectors to undergo a resurgence. Denise highlights unit labour costs as a key metric and a significant part of the why behind interest rates shaping investment decisions. She also talks about compensation costs, the Federal reserve and earnings growth prospects.

Recorded on December 7, 2023.

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 the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

Special guest renowned Canadian political scientist Janice Stein joins us on the program today. Janice is an international relations expert and founding director of the Munk School of Global Affairs & Public Policy at the University of Toronto. Janice sits down with host Pamela Ritchie to discuss the geopolitical themes and issues moving the markets this past year and what could influence our world economies in 2024. Janice says we are in an era of geoeconomics. Geopolitics is now driving the global economy and it will drive trade and continue to accelerate and drive markets. Janice highlights the four big countries influencing our economies today - the US, China, Russia and India. Janice believes this is the century of US power, but she adds, what China has accomplished in the last 20 years, no other society has done. She says India is one of the largest countries, but its population is very young. Still, there is a lot of potential for growth in India. Russia is a declining economy, but is the biggest oil and gas export. Janice highlights many other geopolitical issues including the conflict in the Middle East. She says despite the brutal war, people are thinking about the future and what sorts of governance systems will emerge from these decisions.

Recorded on December 5, 2023.

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 the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

Today on the program we welcome Fidelity Equity Research Analysts Brendan Cochrane and Andrew Hall. They provide insights into consumer behaviour, economic trends, and the potential impact on various sectors in the coming months. With inflation cooling, Black Friday shopping proved to be better than feared this year, but many consumers were disappointed with the magnitude of the discounts. So what does this mean for the consumer discretionary and staples sectors as we head into the new year, and how might it affect your portfolio positioning? Brendan highlights that e-commerce was a clear Black Friday winner, showing significant growth. He explains the impact of over-inventory through the year that might have led to the weaker than expected Black Friday discounts. Andrew moves the discussion to the grocers' sector, noting that food prices remain high, and there are still concerns around inflation in 2024. The conversation also touches on trade-down trends, potential government interventions, and the economic outlook for 2024. They also delve into specific industries, such as the telecom and auto sector, discussing potential challenges and opportunities.

Recorded on December 5, 2023.

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 the third year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2023 Environics’ Advisor Digital Experience Study.

Today on the program, we welcome Aneta Wynimko, portfolio manager of Fidelity Global Consumer Industries Fund. Aneta discusses consumer trends this holiday season and what she’s been focusing on as 2023 wraps up. She says there is a noticeable trend for online shopping, a habit formed by many during the pandemic. But Aneta adds, despite the rise of online shopping, consumers still desire the in-store experience. The hybrid trend reflects a dynamic and evolving consumer landscape. She says consumers are making choices based on the type of product, with routine items favoring online purchases and more experiential products driving in-store shopping. She says this in turn influences her investment strategy as she evaluates companies based on how they align with consumer preferences and mindsets.

Recorded on November 23, 2023.

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 the third year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2023 Environics’ Advisor Digital Experience Study.

On today’s podcast, we speak to portfolio manager Don Newman as he reviews 2023 and what opportunities lie ahead for dividend investors. Don manages two dividend-focused Funds, the Dividend Fund and Dividend Plus Fund. Don points out there’s been a change in his investment strategy because of the rate changes we experienced this year. He’s looking for businesses that can withstand increased rates. Zoning in on companies with less average, lower payout ratios. That means lower dividend yield, but can still grow under higher interest rates. He adds that industrials have been a solid sector as of late. For example, it looks like the inventory destocking cycle is coming to an end which means more shipping opportunities specifically through rail. REITS have had a difficult year, but Don says there are still opportunities in real estate with respect to AI. Data centers could increase in demand next year. Don is looking at firms with large cash flow that can use their unique data along with AI and produce a competitive advantage.

Recorded on November 28, 2023.

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 the third year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2023 Environics’ Advisor Digital Experience Study.

On today’s podcast, we take a look at Canada’s wealth management landscape and how it continues to evolve and change. Carlos Cardone, Senior Managing Director at Investor Economics, leads the discussion today as he highlights the on-going high interest rate environment, how that affects household financial wealth and where Canadians are choosing to invest their money. Carlos also highlights how saving dynamics have shifted amongst Canadians and how Canada’s high net worth trends compare to global trends.

Recorded on November 29, 2023.

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 the third year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2023 Environics’ Advisor Digital Experience Study.

Joining us on the podcast today is Denise Chisholm, Director of Quantitative Market Strategy. She speaks with host Pamela Ritchie about productivity and unit labour costs, higher wages and smaller margins misconceptions, as well as the global impact of AI. Denise says unit labour cost is a key variable impacting the stock market right now. She says there has been an abrupt normalization. One of the biggest concerns in the market is not goods cost because goods have been in deflation, but it is the middle part driven by wage growth. And in regards to the stickiness of wages, she says, what it actually means is that it’s good for profit margins on a go-forward basis. Denise also talks about the “miracle aspect of productivity.” She says two major factors contributed to the current situation. A.I. was a game-changer for productivity in software and computers and COVID created a positive productivity shock. This in turn generated a positive outlook for productivity cycles and their impact on the stock market.

Recorded on November 24, 2023.

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 the third year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2023 Environics’ Advisor Digital Experience Study.

Fidelity head of Quantitative Index Solutions, Bobby Barnes, joins the show today to discuss the current market cycle. While the magnificent seven have driven a 20% year-to-date increase in the S&P 500, he cautions against overlooking other areas of the market. He highlights the Fed's intention to combat inflation through interest rate hikes, emphasizing the importance of understanding the direction rather than the absolute level of economic indicators like the ISM. Bobby also provides insights on the market's potential trajectory, suggesting reasons to be positive but also noting the importance of considering factors like average stock performance and consumer indicators. The conversation also touches on late-cycle positioning, the role of AI in shaping market dynamics, the market's vulnerability to exogenous shocks, the outlook for interest rate cuts, and considerations for asset allocations, particularly in fixed income. Overall, Bobby advises investors to closely monitor incoming data and position portfolios accordingly in light of the hikes still to be digested.

Recorded on December 1, 2023.

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 the third year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2023 Environics’ Advisor Digital Experience Study.