Adam Kutas, portfolio manager of Fidelity Frontier Emerging Markets Fund, discusses hidden opportunities and his outlook on the market as the COVID-19 pandemic continues to disrupt traditional supply chains and affect manufacturing in emerging and frontier markets. Adam reflects on how the COVID-19 pandemic has affected frontier and emerging countries differently than North American and European countries. Adam also explains to host Pamela Ritchie that globalization has been one of the most consistent trends in world history, accelerating in China with the Belt and Road Initiative, and being seen also in the fiscal integration of European countries. On a structural basis, Adam believes the same countries (the Philippines, Bangladesh and Indonesia) are still the winners. He is watching where private money is going, looking for the best positions at a good price, and has been deploying capital aggressively.
Recorded on June 3, 2020.