Today we welcome Institutional portfolio manager Ilan Kolet as he discusses the Global Asset Allocation Team's positioning for Fidelity managed portfolios in 2024. Ilan discusses the differences in performance between a Balanced Fund and a Guaranteed Investment Certificate, or GIC, in Canada. Balanced Funds performed far better by the end of 2023 than in the year prior, surpassing the GIC. The risk adjusted return that can be provided in multi asset class funds has now become a better prospect for longer-term investors, although the GIC could still benefit those with a shorter investment horizon. Ilan explains how Canada’s upcoming productivity prospects and how they differ from the United States. While America’s productivity has been on a steep incline that does not look to be slowing down, Canada’s standard of living has not improved since the nineties with no major changes in the near future. The track record for each country is very telling regarding this year, and Canada does not have America’s airtight labour market or declining inflation that would solidify a notable increase in potential growth. Ilan covers the current housing shortage present In Canada, claiming it to be out of balance in terms of consistently low rates, lack of oversight of foreign investments and more.

Recorded on January 15, 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 2022 Environics’ Advisor Digital Experience Study.