FidelityConnects

Emerging Markets: Regions in Focus – Abhijeet Singh

Today we are joined by Abhijeet Singh, Institutional Portfolio Manager of the Emerging Markets Fund. He gives us an overview of his fund and his thoughts on investment opportunities he’s keeping an eye on. Abby shares his thoughts on China’s slow growth. A lot of consumers are sitting on cash and not spending. Abby says valuations do look attractive in China, so they are overweight China relative to the benchmark weight. They anticipate the valuation gap will close over time. He adds the Chinese-US relationship is crucial and a good sign where both economies need each other. On the other side, Abby says the valuations in India are expensive, which includes all sectors in comparison to Emerging Markets or Developed markets. He says because of this they’re underweight India. So far the picks they do have are working very well. He adds the consumer story in India is much smaller than in China. However, he thinks we’ll see a large number of companies going public in the next 5 to 10 years. Abby also discusses the US dollar, AI and Aerospace as a current area of interest.

Recorded on November 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 2023 Environics’ Advisor Digital Experience Study.

Under construction: Building resilient client portfolios – Paul Ma

Today we are joined by Paul Ma, VP and Lead Portfolio Strategist, as he discusses his market thesis including where we are in the business cycle, and the growth stories in Europe, the US, and China. Paul says the Fed is looking a lot more relaxed and that we are reaching the peak, more of less, of the inflation story. He adds the market looks happy and bullish right now, so being diversified in your opportunities should be top of mind. Paul says Japan and India are the countries he’s keeping an eye on. Bringing manufacturing supply chains to India and Mexico could help our supply issues. He adds Japan is benefiting from some inflation. Paul also argues that the new emerging market is in North America in middle America, Canada, and Mexico. We use to house manufacturers in China, now those manufacturers are being set up closer to home.

Recorded November 16, 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.

Jurrien Timmer’s global macro view – December 4, 2023

Today on the program Fidelity Director of Global Macro Jurrien Timmer presents his weekly discussion on macro themes moving the markets and what trends and topics he has on his radar. This week Jurrien touches on a possible soft landing, what the most recent CPI and PCE reports indicate, and what’s on the horizon for the rest of 2023. Jurrien says if inflation does revert back to 2 to 3%, the Fed should be able to revert as well. That is from restrictive back to neutral. He adds, November has been a big relief for stock and bonds, as they have rallied as of late. And with the economy softening at the margins, Jurrien says the market could be justified at this point in saying the Fed could give back some of the rate hikes it has put out, even if we do go into a recession next year. Jurrien points out if we do get a soft landing next year, left-behind stocks, that are vulnerable to rising rates, could catch up quickly if rates start to fall.

Recorded on December 4, 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.

Fourth-quarter capital market playbook – Andrei Bruno

On the podcast today is director of ETFs Andrei Bruno. As the fourth quarter of the year wraps up, Andrei shares his perspectives on the current market environment and what outcomes and challenges he sees playing out for the rest of the year and into 2024. Andrei says market reactions suggest an anticipation of rate cuts early in the New Year and those probabilities of rate cuts are priced in for both U.S. and Canada. The Fed has indicated a cautious stance emphasizing a potential deviation from a smooth economic path. The Bank of Canada is perceived to have completed its rate hiking cycle, but recent GDP performance in Canada indicates flatness, raising the possibility of entering a technical recession if the trend persists. Andrei points out diversification remains paramount in uncertain economic times. He adds discussions about portfolio risk and strategic allocations need to occur and that longer-duration securities are potentially more attractive in an evolving interest rate environment.

Recorded on November 14, 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.

Denise Chisholm’s sector and factor perspectives – November 10, 2023

Joining us today is Denise Chisholm, Director of Quantitative Market Strategy. She tells us what factors and market sectors she’s keeping an eye on and where she’s seeing opportunities. Denise talks about the volatility of the bond market pointing out that they have a volatility premium as the equity market. Denise says this creates a bear care for treasuries or higher yields. When you look at the speculators, the large speculators, you see net positioning is the most short its ever been historically going back to the 90’s. She says this is a great contrarian indicator. The more visible the bear thesis is the more likely it’s already priced into the market and the more likely it is there’s actually a total return opportunity in bonds as well as in equity. Denise also highlights opportunities in industrials, consumer discretionary, technology and financials. Bottom sectors would be utilities, and consumer staples.

Recorded on November 10, 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.

Unearthing high-value, mispriced companies – Connor Gordon & Chris Maludzinski

Today we’re joined by portfolio managers Connor Gordon and Chris Maludzinski, as they discuss the kinds of opportunities that they are unearthing in small cap companies across the globe. They co-manage the top rated Fidelity Global Small-caps Opportunities Institutional Trust. Connor explains their investment strategy, which includes ‘quality plus change equals mispricing.’ They search for situations where there is change and dislocation which creates uncertainty. Through that uncertainty with Fidelity's research advantage, they try to find situations where they can form a differentiated view of the future. Connor adds that they are looking for companies that have great free cash flow dynamics, high return on capital that allows them to grow at higher rates over time. Chris adds in the small-cap space, it really is prone to mispricing and dislocation. They look for exceptional management teams, companies that have really high return on invested capital, and more importantly large growth runways in front of them.

Recorded on November 9, 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.

Jurrien Timmer’s global macro view – November 27, 2023

Fidelity Director of Global Macro Jurrien Timmer checks in with his weekly discussion on macro themes moving the markets and what trends and topics he has on his radar. As 2023 winds down, Jurrien highlights scenarios investors might face in the New Year and what types of questions are on their minds. He takes a look at different scenarios throughout history pointing out in this particular economic cycle we’re in, the cycle has been quite unusual as we have had twenty-two months of sideways performance. The gains have been quite modest compared to every other start of a bull market. From his charts, Jurrien says the outlook is unclear. He highlights that we do not know if it will be a hard landing or a soft landing. If we get a hard landing, historically, a lot of it has been priced in and will have little effect on the market. Data suggests a soft landing, but again, it is hard to say. Jurrien also discusses the next steps of the FED, will they continue with its tightening, is it done cutting rates, and are there any assets they are trying to get rid of.

Recorded on November 27, 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.

Long/short investing strategies – Brett Dley

Today on the show, we welcome Portfolio Manager Brett Dley as he discusses Fidelity’s Market Neutral Alternative Fund and why investors may consider long/short investing strategies. Some considerations include volatility protection as the fund aims to neutralize market volatility, providing stability in uncertain times for both equity and bonds. Brett adds the fund has a volatility that is a fifth of the equity market and a lower volatility than bonds. In addition, the pairing strategy of the fund implements a relative value investing strategy, taking a long position in stronger assets and short positions in weaker assets, achieving a net exposure of zero. Brett further explains that strategically taking a long position on a stock that is growing faster, has better margins and trades cheaper than the comparable stock. And whether the economy or market is good or bad, it has no bearing on the returns of the fund. As long as the long position goes up more or down less than the short-positioned stock.

Recorded November 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.

How to support your clients’ financial wellness – Robin Taub

Personal finance expert and award-winning author Robin Taub joins us on the program today. As financial literacy month continues in November, Robin highlights a variety of topics including dealing with debt, adjusting spending habits and financial technology. She says our society has gone almost cashless due to fintech and AI changing our spending habits and how we view money and saving and spending. That along with economic changes of high interest rates and increased debt has changed our environment. An environment favorable for savers, and challenging for spenders. Robin highlights the five pillars of financial health: earn, save, spend, share, invest. Educating our younger and older generations about financial wellness can be beneficial. She suggests initiating conversations with older clients about adopting fintech, perhaps involving the younger generations in explaining tech solutions and adapting to fintech advancements and staying vigilant against scams.

Recorded November 9, 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 2023 Environics’ Advisor Digital Experience Study.

Finding tomorrow’s market leaders – Charlie Hebard & Michael Kim

Today we check in with Fidelity Managing Director of Research, Charlie Hebard and Portfolio Manager Michael Kim. They give an update on Fidelity Disruptors Class, and discuss where they are finding emerging market movers within the space. They note, it’s been a challenging year for investors, but innovative disruptors have emerged in the marketplace, reshaping industries, and offering new avenues for investment. Their investment strategy focuses on diversification and equal distribution across various sectors. The Disruptors Class consists of five distinct sectors, disruptive technology, communication services, disruptive finance, medicine and disruptive automation. Charlie and Michael also highlight opportunities in healthcare including their thoughts on the weight loss drug market as well as AI emphasizing the impact of AI in sectors beyond consumer-facing applications. 

Recorded on November 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 2023 Environics’ Advisor Digital Experience Study.

The Silk Road: Asia-Pacific equity opportunities – Eileen Dibb

Today we check in with Portfolio Manager Eileen Dibb as she unpacks what opportunities she’s seeing in the Asia-Pacific region, as business activity across China’s service sector continues to expand, but ever so slightly. Eileen highlights opportunities within ASEAN and Emerging Asia Markets noting big movements in terms of consumerism, tourism and commodities. The pace has slowed down in the last couple of years, but consumer spending has gone up gradually especially in Singapore. Eileen says the AsiaStar Fund is a flexible investment vehicle. She invests in Australia, New Zealand, and India among other Asian countries. And invests in opportunities happening regionally and globally. In terms of themes she’s focusing on AI, labour productivity, and re-shoring in semiconductors in Asia.

Recorded November 3, 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 2023 Environics’ Advisor Digital Experience Study.

Canada’s Fall economic statement – David Wolf, David Herle, and Kory Teneycke

Today on the program, we have a special panel discussion on Canada’s recently released Fall Economic Statement. Fidelity Portfolio Manager David Wolf and political strategists David Herle and Kory Teneycke break down the recent federal fiscal update and the implications it may have for investors. The panelists speak to host Pamela Ritchie about the report’s main highlights, which include new measures to tackle the housing crisis as well as the overall financial health of the country.

Recorded on November 22, 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 2023 Environics’ Advisor Digital Experience Study.

Jurrien Timmer’s global macro view – November 20, 2023

Today we check in with Fidelity Director of Global Macro Jurrien Timmer for his weekly discussion on macro themes moving the markets and what trends and topics he has on his radar. This week, Jurrien touches on bullish signals and implications on the market, the impact of liquidity on inflation and rate cut expectations. Jurrien says three weeks ago, markets were retracing the gains they made and then on a dime, things changed. He points out the catalyst of these changes can be really technical – meaning things not seen by most people. Jurrien says what we experienced has been a long correcting period. The odds are now on the side of the market resuming whatever the prevailing trend is, which is higher for the stock market. Jurrien says soft payroll numbers along with a good CPI report has given the overall sense that the Fed is done with rate hikes. He adds the fact that liquidity is improving at the time when the Fed is tightening helps explain why the internal dynamic of the market is starting to improve.

Recorded on November 20, 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 2023 Environics’ Advisor Digital Experience Study.

Alternative strategies for the fourth quarter – David Way

Today we welcome portfolio manager David Way. David manages Fidelity’s Long/Short Alternative Fund, which is celebrating its three-year anniversary since its launch in October 2020. The fund seeks to capture alternative sources of alpha and expand the portfolio beyond traditional mutual fund solutions.  David discusses current market trends and explains how liquid alternatives may fit into a client’s portfolio. He explains how the fund’s positioning has changed since the beginning of the interest rate hiking schedule and where geographically he is investing. David says the long/short alternative fund can be thought of as a market neutral fund where there are alternative sources of alpha. He adds the fund is an equity product that will help reduce the overall volatility of an equity allocation. David says he is optimistic about the future because he invests into change.  He also shares his thoughts on valuations of companies, AI, and his thoughts on the continuing high inflationary environment.

Recorded on November 2, 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.

Investor education and protection – Tyler Fleming

Today on the show, we welcome special guest, Tyler Fleming, Director of the Investor Office at the Ontario Securities Commission. As Financial Literacy month continues, Tyler shares the mandate of the OSC and how it sets out to educate investors and financial advisors. The OSC protects investors from improper and fraudulent practices, fosters capital formation, and contributes to the stability of Ontario’s financial system and the reduction of systemic risk amongst many other actions. Fleming and host Pamela Ritchie cover many topics including how consumers can protect themselves from cyber and fraudulent activities, the OSC’s focus on research in behavioral science plus highlights from some of its recent initiatives.One of which is their re-launch of its website get-smarter-about-money-dot-ca, which offers free, unbiased financial tools, resources, videos and more.

Recorded on November 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 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.

Finding potential in global markets – Ilan Kolet

Today on the show, we welcome Institutional portfolio manager Ilan Kolet to the program. Ilan is part of the Global Asset Allocation team, which manages approximately $77. 2 billion in multi-asset class funds for Canadian investors. Ilan gives an overview of the global markets, why we might appear to be in a recession, and how the GAA is positioning themselves in this current market environment. Bloomberg recently described Canada as “appearing to be in a recession.” Ilan points out that might in fact be true, as the flow of data in Canada has stalled. Our GDP flat-lined post recovery and we may in fact look back at this as a recession after some data revision. He adds it’s not going to get easier with elevated debt loans and lots of tightening from the Bank of Canada. Even with the Canadian dollar taking a dive, our economy appears to be resilient, which Ilan says is more akin to sustainability. Nevertheless, even with elevated rates of debt and high interest rates, growth in Canada hasn’t slowed down and our unemployment rates have been relatively unaffected. The GAA team does expect and is positioned for a further weakening of the Canadian dollar. He adds they are underweight Canadian equities and the dollar and overweight inflation protected assets, meaning commodity producers and inflation protected debt. Overall, Ilan says they are very close to their strategic allocation.

Recorded on October 31, 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.

Jurrien Timmer’s global macro view – November 6, 2023

Today we check in with Fidelity Director of Global Macro Jurrien Timmer as he discusses the latest developments from the Federal Reserve’s policy meeting, how alternatives may fit in your portfolio, and if we are in fact in a bear market bounce. The Federal Reserve left rates unchanged at the end of its policy meeting last week. The Fed acknowledged that there are various lag effects, and that inflation is coming down signaling a pause and the need to become more data dependent. Jurrien says the narrative has moved on from this to the term premiums in the bond markets and how far the bond yields must go, and what is the interplay between monetary and fiscal policy? He adds rising rates and rising term premium has brought down the PE for the stock market, and so as rates start coming down, this has created a big sigh of relief in the equity markets. urrien says bond yields are currently at 4.64% and that could be split into two parts, the risk neutral rate and the risk premium. The term premium has dramatically flipped since 2020. It was -1.45% three years ago and reached as low as -9%. A few months ago, it was as high as 0.5%. Jurrien also comments on the Magnificent Seven, alternatives in your portfolio and the transition away from the Great Moderation regime.

Recorded on November 6, 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.

ETF investing trends – Étienne Joncas Bouchard

Today on the show, we welcome ETF Strategist Étienne Joncas Bouchard as he breaks down the latest ETF trends, including investing trends for the remainder of the year. Étienne gives an overview of the growth of ETFs in Canada. Last year, there was $35 billion in net new assets. As of September of this year, we are at $30 billion for the industry, which is dominated by the fixed incomes, mostly cash alternatives such as HISA ETFs and MM. He notes there has been significant growth in the active side of ETF industry over the past couple of years. Étienne points to a survey done by a discount broker in the US reports that 89% of millennials own ETFs and it’s their vehicle of choice. And more than 60% of baby boomers would use ETFs as their vehicle of choice. Taking a look at US equities, Étienne says in terms of performance it has been pretty good when you look at the benchmark. He says we’ve seen double digit returns so far this year on the S&P500, but a big concern is the lack of breadth. There are fears that this index is too concentrated and is really pulled up by the magnificent seven stocks. Those stocks represent 95.6% of the YTD total return of the index as of October 20th. Étienne also touches on the volatility of the bond markets, factor investing, and all-in-one- ETFs.

Recorded on October 27, 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.

Breaking down the October 2023 Bank of Canada decision – Don Drummond

Today on the show, we welcome renowned economist Don Drummond who discusses the Bank of Canada’s latest interest rate decision as well as the overall health of Canada’s economy. Don has held several senior roles at the Federal Department of Finance, including Associate Deputy Minister, where he was responsible for economic analysis, and fiscal and tax policies. Don and host Pamela Ritchie discuss the Bank of Canada’s decision to hold the key interest rate at 5%. Don says the key thing now is how the BoC revises inflation. He’s concerned with the zero-level output gap we’re coming to where excess demand was slightly greater than supply, but how is nearing a zero gap. He believes we need to create slack in our economy. Right now, the economy is sitting right on its supply capacity so there is currently no slack to rely on. The housing market can help with this, but right now the market is showing resilience. Still lots of demand for houses and still alot of people coming into Canada looking for homes.

Recorded on October 26, 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.

Investing in growth and an update on Fidelity’s Insights Class – Mike Hickey

Today on the show we welcome institutional portfolio manager Mike Hickey. Mike and host Pamela Ritchie discuss a range of topics including investing in Japan, the demand for AI and the state of the consumer. Mike says inflation is coming down and notes that the sweet spot for equities is around 3% inflation. Revenues are nominal and he says a little bit of inflation is good for corporate America. He adds that they are focused on growth, and tend to be biased to sectors in tech, consumer space , and healthcare. These areas, he says, have characteristics of high growth and are global businesses. They are very scalable and are capital light and not so affected by interest rates because of a massive balance sheet. Mike who has worked alongside long-time investor Will Danoff for many years says in terms of value versus growth, they are always biased to growth. They are willing to pay for good names that might look expensive. He adds we are still in the early days of corporate America embracing AI, but if you’re worried about a company being too expensive to invest in, you may miss out on some big moves.

Recorded on October 25, 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.