We’re joined today by portfolio manager Patrice Quirion who manages Fidelity Global Concentrated Equity Institutional Trust, for institutional investors. For retail investors, Patrice manages Fidelity Global Concentrated Equity Fund and Fidelity International Concentrated Equity Fund. Patrice explains how the fund is very concentrated with only 50 stocks. He adds it’s also very flexible in terms of geography and sector allocation, plus it spans across the market-cap spectrum to include small, medium and large caps. For him, it’s about looking for the intrinsic long-term value of businesses and what its fair value is in normal market conditions. He also comments on the recent banking sector crisis and the fall out of Silicon Valley Bank. For him the latest banking issues doesn’t affect his fund because he stays away from the US regional banking market. Although it might look like a contrarian opportunity, he says he can’t find the quality predictability level he’s comfortable with in regional banks.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.Recorded on March 30, 2023.