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.

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