FidelityConnects

VISION: A CIO perspective and market outlook – Andrew Marchese

Today we’re bringing you a special presentation from Fidelity Canada’s Vision 2024 event in Toronto. Vision offers insights from our portfolio managers and investment experts and provides their comments on the current market environment, Fidelity’s investment process and our global research network operation. The following conversation is with Fidelity Canada’s CIO and portfolio manager Andrew Marchese. He discusses the current state of the market, provides his insights for 2024, and introduces the new Canadian Long/Short Alternative Fund.

Recorded on January 31, 2024.

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.

VISION: Diversifying your equity strategy with Global Equity Plus – Mark Schmehl, Dan Dupont, and Hugo Lavallée

Today we’re bringing you a conversation from Fidelity Canada’s Vision 2024 event in Toronto. Vision offers insights from our portfolio managers and investment experts and provides their comments on the current market environment, Fidelity’s investment process and our global research network operation. The following conversation is with Fidelity portfolio managers Mark Schmehl, Dan Dupont, and Hugo Lavallée. They discuss the Global Equity Plus Fund and where they are seeing opportunities in 2024.

Recorded on January 31, 2024.

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.

New year, new trends: Canadian markets in 2024 – Joe Overdevest

Today on the show, we welcome Portfolio Manager Joe Overdevest to the program as he discusses commodities, unemployment, the new inflation reduction act and much more. Joe talks about commodities and says there is a positive outlook for both natural gas and copper. For natural gas, there is a surplus of supply because of the mild winter, but overall a positive outlook for 2024. And for copper there are positive sentiments there, but will be driven by a bullish perspective and dependent on conversations with major CEOs within the industry. Joe touches on many other topics and trends like the continuing conversation around interest rates, concerns with mortgages in Canada, and the importance of investing and compounding during these times. Joe says investors need to be careful and resist being swayed by current headlines and avoid abandoning long-term strategies due to short-term uncertainties.

Recorded on January 24, 2024.

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.

Analyst perspectives: Banks and the consumer industry – Brendan Cochrane & Nic Bellemare

Today on the show, we welcome Fidelity Research Analysts Brendan Cochrane and Nic Bellemare. They dive into the banking sector, the current state of consumers and this year’s investment opportunities they are finding in these sectors. The current environment in the banking sector has displayed high rates and low loan growth, as credit delinquency rates slowly rise. Brendan and Nic discuss how the direction of credit is a crucial factor for influencing bank stocks throughout the rest of the year. Bank stocks started by reacting positively to the Bank of Canada rate cuts, alleviating credit concerns and reducing negative tail risks. However, rate cuts can also hinder the progression of revenue for banks, commonly through Net Interest Margin compression. Brendan and Nic take a look at various consumer statistics including spending behaviour, confidence and portfolio positioning. Consumers of all levels of income face specific economic challenges, and there have been observations of resistance to further price increases. The current consumer confidence appears to be strong meaning immediate government support may not be needed, but it is possible for things to get tougher before getting easier. Advisors are being urged to reassess the portfolio positioning, which will require acknowledging the potential economic scenarios.

Recorded on January 19, 2024.

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.

International equity themes for 2024 – Patrice Quirion

Today on the show, we welcome Patrice Quirion, Portfolio Manager of the Fidelity Global Concentrated Equity Fund. He opens up about where he is finding global investing opportunities so far in the new year. Patrice explains how this year’s market expectations are considerably higher than last year’s, with the risk perception dropping due to the greater certainty of upcoming interest rates. Many opportunities lie within undervalued areas, some dispersion within the market is observed once again, and while there may be a clearer direction forming for it, the journey to that point may not be entirely smooth. Rate cuts are also currently expected by year-end, although their full extent and timing are still uncertain and expectations should remain reasonable. Patrice discusses how numerous Asian markets, particularly China, are showing signs of eventual improvement in corporate governance. There are opportunities to search for undervalued assets, and the market’s disappointment with the lack of aggressive stimulus measures is factored into valuations. There are challenges surrounding the real estate sector and weak consumer confidence in the Chinese economy, but market stabilization and increased confidence and spending capacity create potential for a rebound.

Recorded on January 18, 2024.

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.

Jurrien Timmer’s global macro view – February 5, 2024

Today on the program, we welcome Fidelity’s Global Macro Director Jurrien Timmer as we get his perspectives on market trends, economic growth, global interest rates and more. The S&P 500 cap-weighted index reached a new all-time high, however, not for the equal weighted and for the small caps.  Jurrien believes higher than expected earnings, and a tight labour market are major contributors to this recent rise.  At the same time, Jurrien believes the market is overestimating the number of rate cuts the Fed will likely implement. He discusses the impact of Fed rate cuts being uncertain on Canadian homeowners and corporations.  Overall, Jurrien expects a bullish broadening theme in the market this year. He adds there is a possibility of having a short bull market but, typically, the market tends to go up 70 to 80% on average in a short bull market. But he also says, it’s still too early to tell as he describes the market as a young bull market that potentially has more runaway left.

Recorded on February 5, 2024.

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.

Latest advancements in artificial intelligence – John Bradley

On the program today, Director of Emerging Technologies John Bradley discusses the latest advancements in artificial intelligence and how Fidelity is leveraging the newest technologies to benefit advisors and their clients. John goes over the various benefits of AI tools and how we can use them at Fidelity. AI allows for image and voice recognition, quicker and easier research and automated processes for implementing data and making it easy to understand. A number of companies such as Adobe and Microsoft are providing AI tools, and as long as we can recognize the tools that are being received positively and why, we can work to apply them advantageously. John discusses AI’s abilities to create faster content delivery, mitigate risks, assist in healthcare, education, entertainment and more. In many of these cases AI can be used to speed up various processes, provide a higher level of quality review, and generally assist in tasks that could be more easily performed by a program and its tools. John adds how incredibly important it is for us to stay up to date on AI trends and news to properly understand the technology so we can apply it and ensure future success.

Recorded on January 17, 2024.

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.

Fidelity in 2024: Industry trends, innovations and more – Dave Bushnell and Andrew Clee

On the program today, Senior Vice President of Advisor Sales and Vice President of Product Andrew Clee join host Pamela Ritchie to discuss industry trends, innovations and what advisors should keep top of mind in 2024. Andrew and Dave begin by commenting on the whirlwind that was 2023. Dave highlights GICs and GICs high interest savings accounts as a dominant topic amongst advisors and Andrew adds that we experienced two different markets in one year and it didn’t look promising until about mid-October. Andrew also adds we saw a double digit return in the last quarter of the year with big tech names ending on a high note. So, most of the year-to-date gains came in a short period of time. Andrew says for bonds although it didn’t do so well in 2023, the returns did come significantly in a short period of time. Andrew adds that the key is to stay invested rather than trying to time things out. Dave highlights a good strategy for 2024 - that is to leverage the Fidelity sales team as much as possible. Andrew adds to look at the redeployment of higher interest savings, GICs, and traditional 60-40 asset classes. He says to start thinking about reinvestment risk from an interest rate standpoint rather than the total return over the next twelve months.

Recorded on January 16, 2024.

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.

FMP, the Fed, and inflation – Ilan Kolet

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.

Jurrien Timmer’s global macro view – January 22, 2024

Today on the program, Fidelity Director of Global Macro Jurrien Timmer discusses the latest market moves, potential Fed rate cuts and possible supply chain issues.  US equity markets opened up at all-time highs this week. So could these highs and rallies continue? And how much of an impact do these gains have on the Fed’s interest rate moves?  Jurrien points out that although the S&P cap-weighted index did make a new all-time high, the Russell 2000 small cap index is in a bear market. It’s down 20 percent from its high. This is the first time in history we’ve seen this. He explains that small caps being behind is not unusual. It’s not unusual for large caps to go first then small caps to follow. But he points out, the spread has never been this wide. And that is a testament to the Magnificent Seven leadership in the market. But Jurrien says if history is any guide, these stocks will follow at some point. Jurrien also touches on the Fed and says back in December when the Fed gave a hint that we would get three rate cuts in 2024, the market just ran with it. Now the market is walking back a git and that’s also one of the reasons why small caps are under some pressure.

Recorded on January 22, 2024

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.

2024 ETF investing strategies – Étienne Joncas Bouchard

On today’s show we are joined by Fidelity ETF expert Étienne Joncas-Bouchard. He discusses various factors that he believes could be favourable in the current market environment and updates us on Fidelity all-in-one ETFs. Étienne discusses how value has a chance of doing well this year, but it’s not a guarantee. It will depend on many upcoming factors including getting fewer cuts than expected, the labour market remaining strong, large growth names continuing to work through challenging environments and more. He explains it ultimately relies on the macro standpoint; if the rates are going up while there is less sensitivity to the change in the discount rate. With that, your net present flows become worth more than companies that are discounting in the far future.  Étienne also dives into the world of cryptocurrency, specifically how the SEC in America has given their approval of spot Bitcoin ETFs. This means that Canadian Bitcoin ETFs will lose a portion of its demand from American investors, and their prices will also decrease given the aggressive fee structure and increase in overall volume. 

Recorded on January 12, 2024

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.

2024 outlook on U.S. and Canadian equities – Darren Lekkerkerker

Portfolio manager Darren Lekkerkerker joins the show today to discuss his outlook on equities and what his positioning is for 2024. With inflation coming down and possible rate cuts on the horizon, Darren says he’s looking into a few investment opportunities with a focus on energy and copper. He adds copper is a major beneficiary of the energy transition and that engineering and design companies will most likely do well this year due to reshoring trends. Darren says mid-caps and small caps could potentially outperform this year. In terms of his fund, Darren is focused on North America as it has historically been the best place to invest. He adds North America has the greatest exposure to secular growth industries like technology and healthcare compared to Europe and Asia.

Recorded on January 11, 2024

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.

Fixed income forecast for 2024 – Jeff Moore

Portfolio manager Jeff Moore joins us on the program today to talk us through the bond market and what factors might affect this space in 2024. Jeff speaks about the current inflationary environment. He says inflation is falling and most likely on the run. He adds with bond yields at 4% and real rates at 2% these numbers haven’t been as compelling since the nineties. But he says the bond market is basically at the same state as it was last year. Typically the returns from bonds are in the range of 6 to 10% depending on the asset. Jeff says the strategy here would be to enjoy the current yields, diversify your portfolios and avoid leverage. He advises to stay vigilant and responsive to changes in CPI numbers.

Recorded on January 9, 2024.

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.

Jurrien Timmer’s global macro view – January 8, 2024

As investors enter a brand new year, Fidelity Director of Global Macro Jurrien Timmer discusses what trends, topics, and headwinds he believes will move the markets in the weeks and months ahead in 2024. The inflation storyline continues to be the dominant headline. Will the Fed cut rates this year? Will it be possible to get back to 2% inflation? Jurrien says 3% could be the new 2%. He says getting back to two percent will be a challenge and it might require a period of negative inflation if we actually want to get back to two. Jurrien says we could be in for a bullish, broadening market. He points out the S&P 500 Equal Weighted Index is the most useful and interesting thing to be looking at right now. Jurrien also touches on Bitcoin and gold, tech stocks versus value and the impact of this year’s upcoming US election.

Recorded on January 8, 2024.

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.

Reaction to the latest Bank of Canada rate announcement – Ilan Kolet

Today on the program we check in with Institutional portfolio manager Ilan Kolet as he gives us his thoughts on the last Bank of Canada rate announcement of 2023, and what he sees in store for the New Year. The BoC kept its policy rate unchanged at 5 per cent, but it also warned that rate hikes aren’t off the table in 2024. Ilan says the expectation for next year is that discretionary consumer spending will continue to pull back as many Canadians want to ensure their principal mortgage gets paid. The more pullback you see could signal an upcoming recession. The US is experiencing a different story as the labour market remains tight  and inflation slows down, plus the mortgage structure in the US is very different compared to Canada. Ilan says the Global Asset allocation team remains underweight Canadian equities. He adds with serious macroeconomic headwinds, he believes Canada will lag. The team is overweight US equities and underweight the Canadian dollar and overweight the US dollar hoping this will be a shock absorber for the fund.

This podcast was recorded on December 12, 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.

Canadian bonds and the latest BoC announcement – Sri Tella

Portfolio manager Sri Tella joins us on the program to discuss the latest Bank of Canada announcement and how that could affect Canadian bonds. Sri says the last BoC announcement signals an intention to cut rates and potentially adopt a less restrictive or more simulative approach. He adds the Fed shares a similar concern and outlook. They are aiming to keep inflation in check before considering rate cuts. Sri says financials particularly the Canadian banking sector continues to show consistency. This stability makes it a favoured and significant sector in the Canadian corporate market. Conversely, non-financial corporates are more of a neutral outlook due to higher interest rates and refinancing challenges.

Recorded on December 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.

Sector shifts and dividend opportunities in 2024 – Denise Chisholm and Ramona Persaud

Today on the program we speak to Denise Chisholm, Director of Quantitative Market Strategy and portfolio manager Ramona Persaud. They highlight sector shifts and dividend opportunities in 2024. Host Pamela Ritchie asks Ramona as the year wraps up, how is she navigating the current market dynamics and how that influences her investment decisions. Ramona says her approach still revolves around 3 main objectives: excess returns, downside protection and reasonable level of income. As a conservative investor, volatility is a critical consideration and aligning the investor experience with the fund’s performance. Ramona says for 2024 a nuanced market might make way for under appreciated sectors to undergo a resurgence. Denise highlights unit labour costs as a key metric and a significant part of the why behind interest rates shaping investment decisions. She also talks about compensation costs, the Federal reserve and earnings growth prospects.

Recorded on December 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 2022 Environics’ Advisor Digital Experience Study.

Navigating tomorrow: Geopolitics in 2024 – Janice Stein

Special guest renowned Canadian political scientist Janice Stein joins us on the program today. Janice is an international relations expert and founding director of the Munk School of Global Affairs & Public Policy at the University of Toronto. Janice sits down with host Pamela Ritchie to discuss the geopolitical themes and issues moving the markets this past year and what could influence our world economies in 2024. Janice says we are in an era of geoeconomics. Geopolitics is now driving the global economy and it will drive trade and continue to accelerate and drive markets. Janice highlights the four big countries influencing our economies today - the US, China, Russia and India. Janice believes this is the century of US power, but she adds, what China has accomplished in the last 20 years, no other society has done. She says India is one of the largest countries, but its population is very young. Still, there is a lot of potential for growth in India. Russia is a declining economy, but is the biggest oil and gas export. Janice highlights many other geopolitical issues including the conflict in the Middle East. She says despite the brutal war, people are thinking about the future and what sorts of governance systems will emerge from these decisions.

Recorded on December 5, 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.

Are consumers spending? – Brendan Cochrane and Andrew Hall

Today on the program we welcome Fidelity Equity Research Analysts Brendan Cochrane and Andrew Hall. They provide insights into consumer behaviour, economic trends, and the potential impact on various sectors in the coming months. With inflation cooling, Black Friday shopping proved to be better than feared this year, but many consumers were disappointed with the magnitude of the discounts. So what does this mean for the consumer discretionary and staples sectors as we head into the new year, and how might it affect your portfolio positioning? Brendan highlights that e-commerce was a clear Black Friday winner, showing significant growth. He explains the impact of over-inventory through the year that might have led to the weaker than expected Black Friday discounts. Andrew moves the discussion to the grocers' sector, noting that food prices remain high, and there are still concerns around inflation in 2024. The conversation also touches on trade-down trends, potential government interventions, and the economic outlook for 2024. They also delve into specific industries, such as the telecom and auto sector, discussing potential challenges and opportunities.

Recorded on December 5, 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.

Unwrapping holiday consumer trends – Aneta Wynimko

Today on the program, we welcome Aneta Wynimko, portfolio manager of Fidelity Global Consumer Industries Fund. Aneta discusses consumer trends this holiday season and what she’s been focusing on as 2023 wraps up. She says there is a noticeable trend for online shopping, a habit formed by many during the pandemic. But Aneta adds, despite the rise of online shopping, consumers still desire the in-store experience. The hybrid trend reflects a dynamic and evolving consumer landscape. She says consumers are making choices based on the type of product, with routine items favoring online purchases and more experiential products driving in-store shopping. She says this in turn influences her investment strategy as she evaluates companies based on how they align with consumer preferences and mindsets.

Recorded on November 23, 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.