FidelityConnects

The Fidelity ETF Exchange: Q3 2023 Canadian ETF Industry Recap

In this episode of the Fidelity ETF Exchange, host Étienne Joncas Bouchard welcomes Andrei Bruno back to the show. Andrei is director of ETFs at Fidelity Canada and he sits down with Étienne and reflects on the notable ETF industry trends of the past quarter. They highlight how flows in the Canadian ETF industry continued their strong momentum in Q3, bringing the year-to-date total to $30.1 billion as of the end of September. Some other notable headlines include weakening demand for U.S. equity ETFs in favour of international equities, continued appetite for cash alternatives ETFs, as well as a rebound in the ESG category.

Recorded on October 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 2022 Environics’ Advisor Digital Experience Study.

Finding solutions to Canada’s housing crunch – Tim Hudak & Michael Brooks

Today on the show we welcome Michael Brooks - CEO of REALPAC, and Tim Hudak - CEO of the Ontario Real Estate Association. Together, they discuss the present state of Canada’s housing market, highlight future trends, as well as affordable housing solutions. Brooks and Hudak explain to host Pamela Ritchie the path that led to our country’s current housing situation, shedding light on influential factors such as the rate of home construction and the influx of immigrants. To add to that rising interest rates have halted housing development, and immigration numbers continue to rise in Canada. They also discuss necessary policies and systems that could be implemented to enhance our economy. They explain the need for an across-the-board solution. Many individuals without rental alternatives often turn to non-profit or social housing, which could potentially lead to more challenging living conditions. Many of these discussion points can be found in Hudak and Brooks’ report ‘The Multi-Sector Approach', which looks at the factors driving the national housing crunch, and their recommendations to improve the situation.

Recorded on October 19, 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.

The secret behind founder-led companies – Dan Kelley

On today’s show, we chat with Portfolio Manager Dan Kelley as he provides an overview of founder-led companies, outlining their differences, risks, and his own predictions for their growing evolution. Dan explains that a successful founder must have a long-term focus on the firm they are growing, be able to see beyond just the market numbers, and provide a unique service or product to customers to stand out. In the last couple of years, Dan says, we have been able to see founder-led companies get a full economic cycle, which included a secular low in interest rates and lots of fluid aspects and dispersion in returns. Dan particularly has invested in many founder-led sectors within the Russell 3000, with some of the biggest drivers in these sectors being healthcare and biotech. He mainly invests in public equities that are later in their development, and many of those relationships stem from his professional or personal circles. Not all of these companies are American in his portfolio, as 10% come from Canada or Europe. Dan believes that founder-led companies need to be adaptable and keep up with their ever-changing environment in order to maintain a consistent level of growth. He also discusses the process for selling the companies, what happens when a founder moves on from the company or passes away, and the role of AI for acquiring market share.

Recorded October 17, 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.

Trendspotting and highlighting market movers – Andrew Clee

Today on the program, we welcome VP of Products Andrew Clee to the show. Andrew gives listeners an overview of the markets – where we are at, why we’re in the most “discounted recession” in history and how the US and Canadian economies differ at this time. As the year slowly wraps up, Andrew reflects and says 2023 was all about inflation, interest rates and an impending recession. But interestingly, you put them all together and the Nasdaq is still up 30%, S&P 15% so risk assets are still behaving and so there is a lot of negative headlines in the market. He adds this is the most “discounted” recession in history because historically you didn’t really know that we were going into a recession, but now everyone expects it and is waiting. But the recession will be influenced by rates. If interest rates are higher for longer, Andrew says consumers will have to dial back their spending behaviors which will hurt the economy. Andrew touches on the housing situation and mortgage market in Canada and the US. In the US the mortgage is fixed and non-portable, whereas in Canada rate resets every 5 years and is portable. He adds the US consumers don’t really care except if you are looking to move or buy a new house, they only care about their lifestyle choices versus in Canada we care about when interest rates go up.

Recorded on September 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.

Global equities in focus – Patrice Quirion

On today’s episode, Portfolio Manager Patrice Quirion who manages Fidelity Global Concentrated Equity Fund and Fidelity International Concentrated Equity Fund puts Global equities into focus. Patrice touches on inflation and says there is still work to be done to erase the perception of high inflation. This could mean to go higher or stay for a longer period. But Higher rates remain dependent on how the economy fares and if we see things deteriorate. And The risk-reward around cost of capital may cause defensive sectors to be more attractive with a slowing economy as well as bond proxies to be in a portfolio. As a contrarian investor, Patrice, says there might not be an outright dislocation but a more compelling risk-reward in parts of the market. He adds it would make sense to get into a defensive position where he can pull when it’s time to get into the offence. Patrice says the risk profile for equities is still higher than fixed income, but the compounding returns is more favorable, even on defensive stocks. He adds Dividend yields are still a little lower than long term bond yields; however, these companies are still going to grow long-term, but not at growth stock levels such as 10 percent.

Recorded on October 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 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.

The Bank of Canada and the Fed - Impacts on the markets – David Tulk

Today on the program, we welcome Portfolio Manager David Tulk back to the show. David and the Global Asset Allocation team manage many funds for Canadian Investors including $80B in assets across more than 20 funds. David comments on our current market environment, how the team is dealing with rising inflation rates, and what he sees the Bank of Canada doing for the rest of 2023. Although the Bank of Canada paused its tightening agenda from its last rate announcement, Statistics Canada’s August report on inflation showed a rise to 4% year over year. That is up from 3.3% year over year back in July. David’s initial reaction to rising inflation – he believes “we’re going the wrong way.” But that’s the type of landscape we’re dealing with, he adds. Going through the inflation stats, we can see there’s some wage growth and service level inflation, which all contributes to the underlying price pressure. Also gasoline is one of the biggest factors that pushed headline inflation higher. So are rising oil prices on a global basis good for the Canadian economy or to the central banks? He says it doesn’t change the trajectory of spending, but changes the composition and this is still a concern from the central bank’s perspective. David says the banks want the economy to slow down, but for Inflation to cool off, we need a period of economic weakness, mostly in the labor market. However, that part of the economy has yet to show any weakness at all. Companies are holding on to their labor due to the pandemic and are looking to keep labor instead of rehiring months into the future. For the GAA team, they are still leading defensively in all the funds managed. They have taken more neutral equity betas and are much closer to benchmark on equity allocation. In terms of currency, they use an underweight to the Canadian dollar to enhance the defensiveness of a portfolio. The team is hedging underweight Canadian equities and overweight to global energy.

Recorded on September 19, 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.

Denise Chisholm’s sector and factor perspectives – September 28, 2023

Joining us on the podcast today is Denise Chisholm, Director of Quantitative Market Strategy. She tells us what factors and market sectors she’s keeping an eye on. Denise takes us through the indicators investors should be paying attention to. She highlights the importance of sentiment indications, such as those provided by the NFIB or the National Federation of Independent Association, considered the “voice of small business owners.” She notes sentiment indicators can be essential tools for understanding the state of small businesses and, by extension, the broader economy. And what sets sentiment indicators apart is their ability to offer real-time insights. Unlike government data, which typically lags. Denise also discusses the consideration between a value trade and value investing. She says where it becomes particularly relevant is in sectors like consumer staples. She says to be aware that valuation hasn't consistently delivered safety or prevented losses over time. So, relying solely on valuation may not be a reliable strategy. In terms of offensive sectors or defensive play, Denise suggests sectors like discretionary, Technology, and Industrials. These sectors exhibit historical cyclicality and varying risk-reward profiles, making them key considerations in offensive strategies.

Recorded on September 28, 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.

Highlighting Canadian energy trends – Thomas Goldthorpe

Today on the show, we welcome Equity research analyst Thomas Goldthorpe. He discusses market trends and shares his perspectives on the Canadian energy landscape. Thomas reflects on the ups and downs of the oil market since the beginning of 2023. He says the energy sector underperformed in the first half of the year, which was on the back of weaker prices. In the summer, oil prices cooled off and energy stocks underperformed. But, he adds, with a rebound in oil prices from that period plus overall inflation sentiment, we’ll see stocks perform better. Thomas comments on the Canadian and American energy markets and what they are grappling with as of late. He notes the US had robust growth year-over-year, but it is set to decline plus inventory issues are popping up creating some issues. Thomas says the Canadian oil market side is fairing very well, with a healthy growth outlook and marginal acceleration with stronger prices. Thomas discussed how OPEC and the Saudi government are taking proactive steps instead of reactive ones in terms of oil cuts. For OPEC, cutting earlier in the cycle when projected weakness is coming instead of after weakness happens has been a significant move. The Saudi government is trying to be more commercial and try to reach the highest oil prices possible for its kingdom. Thomas notes we will see rolling demand for oil, yet OPEC cuts are at recessionary levels to help balance the market.

Recorded on September 21, 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 cybersecurity trends – Imran Ahmad

Today we welcome Imran Ahmad, a cybersecurity expert, lawyer and University of Toronto professor. Imran shares the latest developments in artificial intelligence and the cybersecurity space. According to recent reports by Bloomberg Intelligence, generative AI is poised to become a $1.3 trillion market by 2032. Imran says there’s alot of noise in the AI market especially since the launch of ChatGPT in November of 2022. Since then, companies have increased their investments in AI because their competitive future depends on it. But Imran notes the real value of AI is on the proprietary technology that is going to use data sets unique to clients. Without the right data set, you may not get a good outcome. He adds the three main types of investment in AI are: generative AI which is consumer-friendly, transformative AI which is a little more difficult to use and thirdly, joint investments which translates into collaborating to create a better tool. Imran says the best practices to keep data safe is creating less extensive accounts, being mindful of what you share with others, keeping your digital footprint short and doing your due diligence when buying AI products.

Recorded on September 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 2022 Environics’ Advisor Digital Experience Study.

The fixed income landscape for the rest of 2023 – Jeff Moore

Today on the program, we welcome back portfolio manager Jeff Moore as he discusses the state of fixed income for the rest of 2023. Inflation is rising, and so is consumer spending. The latest CPI, PPI, and retail data out of the US all rose, largely from a big jump in energy prices. The recent figures indicate that consumers will continue to hold up well despite rising prices and increasing levels of credit card debt. What might this mean for the Fed, and for you?  Jeff and host Pamela Ritchie delve into the Fed's strategy, the health of corporations, and the high yield market. Jeff reinforces the bond market's view that inflation is under control. He also expresses optimism about treasuries, citing positive real rates. He discusses the importance of flexibility in fixed income allocation and highlights the defensive nature of a successful fixed income portfolio during these times.  Jeff also touches on factors like energy, fiscal policies, and global demographics. He sees North America as a more favorable investment space and provides insights into his duration strategy, talking us through potential scenarios and market reactions.

Recorded on September 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 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.

A discussion of Canadian equity markets – Max Lemieux

Today we dive into a discussion of the Canadian equity markets and get an update on Fidelity’s True North® Fund with portfolio manager Max Lemieux.  Fidelity True North® Fund, is a Canadian equity fund that seeks to invest in companies that are expected to grow over the long term and that are trading at reasonable valuations.  Despite a volatile week for the TSX composite, Max emphasizes that the Canadian market is an interesting play right now and it’s more than just banks per se that are appealing. He says there are energy companies that look interesting and there is diversity from food to technology.  Max reiterates that he buys stocks gradually based on his conviction or milestones that the company reaches. He notes not all companies will hit their bottom at the same time. He says some industrial companies last October and November were very close to their bottoms. Then they had an upside of 50 to 100 percent. He notes it should pay off to be patient in the long-run. He adds Canada has many corporations that are well run with quality names and good balance sheets. He also notes the True North® Fund seeks to take advantage of changes in the economy and that he is very careful about valuation.  Max also discusses recession probabilities, and housing in Canada and the US, among other topics.

Recorded on September 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 2022 Environics’ Advisor Digital Experience Study.

Talking tax: Changes to the alternative minimum tax – Peter Bowen

On the program today is Fidelity’s Vice President of Tax Research Peter Bowen and host Kelly Roberts, Vice President of National Accounts for a deep dive into how the Alternative Minimum Tax works and the changes you can expect. Earlier this year, the Federal 2023 budget announced significant changes to the Alternative Minimum Tax system. The changes apply to certain areas like inclusion rate on capital gains, and stock options. So how will this affect investors? And what should advisors keep in mind when informing their clients of these changes? Peter says changes to the Alternative Minimum Tax or AMT doesn’t come into effect until next year. Some key highlights - the tax rate on newly calculated tax base (for AMT) is going up from 15% to 20.5%. This is federal rate, provincial rates are layered on top. Peter says the good news is the exemption is increasing from $40 000 to $173 000 – this is the deductible amount before calculating tax burden based on increased rate. He adds 80% of capital gains is included in calculation, next year will be 100%. In terms of advisor planning for the changes to the AMT, Peter says is less of providing tax advice but helping clients be aware of changes and suggesting the right strategies. Changes don’t come into effect until next year, so if your client is looking to sell something with significant capital gains, could be done before year end. And they are planning on using capital loss this year, maybe delay that as in future years will only be able to use 50% of that.

Recorded on September 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 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.

The latest in capital markets and the ETF industry – Andrei Bruno

Today on the program, we welcome back director of ETFs Andrei Bruno. Andrei gives us an overview of the capital market playbook for the rest of 2023. Some key highlights he points out is If the Fed continues to raise rates while the Bank of Canada is still on hold and we continue to see a widening in interest rate differentials, U.S. is our number one trading partner so we may import more inflation from that FX mechanism. Andrei’s financial background is in capital markets and the FX desk. He says he’s focused on cracks in credit market. He notes we will see those before equity markets moves. So far we haven’t seen any this yea. Andrei says the majority of maturities are in 2025 and distressed debt levels and default rates are within historical averages. He states fixed income flows are still the main story for ETFs. And he adds duration is a strong recommendation for soft or hard landing scenario with decent yield and lower reinvestment risk. Andrei remains cautious. He suggests analyzing whole portfolio for tilts to a particular risk, asset class or investment style. Quality is recommended for a recessionary environment. Earnings will have to grow into valuations for tech to continue to rally.

Recorded on September 11, 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.

Inflation and Canada’s bond market – Sri Tella

Today we welcome Fidelity Portfolio Manager Sri Tella who provides us with his outlook on Canada's bond markets and the indicators to watch for as we head into the fourth quarter of 2023. Following two consecutive rate hikes, the bank of Canada has kept its key interest rate steady at 5%. How are higher interest rates affecting today's fixed income landscape? And which factors are delaying the impact of rate hikes. Sri notes that while inflation remains a concern, signs of economic slowing are emerging, giving the bank of Canada room to observe and evaluate data before making further decisions. Sri and host Pamela Ritchie also discuss the resilience of the Canadian economy, the complexities of the fixed income landscape amid higher interest rates, and the factors delaying the full impact of rate hikes. Sri suggests that the economy's robust performance is partially due to fiscal spending, built-up savings, and pent-up demand. The interview also covers the potential effects of rate hikes on mortgages, consumer spending, and the broader economy. He emphasizes the importance of being cautious in the current market environment, as investors might become complacent amid the ongoing positive economic trends.

Recorded on September 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.

Denise Chisholm’s sector and factor perspectives – September 15, 2023

Today we welcome back Fidelity Director of Quantitative Market Strategy Denise Chisholm. Denise discusses the correlation between oil prices and equity markets, rising rates and what it means for the US and the Canadian economies, and what top sectors she has in mind. Denise explains what would cause a shock in oil prices in consumers. She says when she thinks of shock its historically has historically needed to be that big and quick to take the consumer down. She points out in 2008 the consumer didn’t collapse on itself until the shock came from the Fed and oil prices. And she adds in this cycle and in most cycles it takes a long time for interest rates to provide a shock to debt service. Plus in the US mortgage debt is locked in at 3 per cent whereas in Canada that mortgage debt is mainly at variable rate. Denise also touches on rising rates and the impact on the economy. She says it’s not important that the rates are rising, it’s the why behind higher rates and higher oil prices. Rising rates are a bad thing when you also have falling growth in the economy but GDP remains steady with an acceleration in real growth GDP. She adds growth in GDP is more important than interest rates as it relates to the equity markets. The question becomes, “How fast can your economy grow without a problem?” In some ways the US has been able to grow a little bit faster without a problem relative to Europe.

Recorded on September 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 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.

Global markets, technology and innovation trends – Mark Schmehl

On today’s show we welcome back income investing portfolio manager Mark Schmehl. Mark manages several funds, including Fidelity Canadian Growth Company Fund, Fidelity Global Innovators Class, and Fidelity Special Situations Fund. During these uncertain times in the market, Mark is focused on investing in the tails - cheap, boring tech stocks that pivot to AI companies and achieve significant earnings, or clear winners. He says the economy is clearly slowing down, but this is the most widely expected recession, which has not occurred so far. But his funds aren’t focused on the macro environment, he says. It’s a distraction from what’s really important. He adds, interest rates are not typically a factor in his investment decisions, but he is still mindful of it. Mark’s Global Innovators fund is a play on AI exposure. He says the early part of this cycle is going to be driven by investment; similar to when the internet came out. We know AI build will happen, but we don’t know who will be the one to build it. He adds an early part of the AI wave is deploying hardware to make it work. In the future, software is the clear beneficiary. Mark believes Companies will invest in AI at massive scale for the next 10 plus years.

Recorded on September 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.

A comprehensive look into the global markets with Tom Stevenson – September 6, 2023

Today on the program, we welcome back Fidelity’s Investment Director Tom Stevenson as discusses the impacts of rate hikes, inflation, and housing on different economies around the world. Tom comments on the effects of rates hikes on GDP and if that could in fact lead to an inflation lead recession. He explains how this is a big puzzle firstly for central banks and it is what the Fed has been grappling with for so long. They just don’t know what the cumulative impact will be after all these rate hikes. In the UK, Tom says you are starting to see in the housing market for example, and other areas of the economy as well, a real slowing down in the economy, which could indicate that the wind is catching up with all those interest rate hikes. The danger he says is that you keep hiking, and it just becomes counterproductive, and you unnecessarily push the economy into a recession. But now, it looks like the markets have regained their poise and have bounced back really quite nicely, placing itself in this type of Goldilocks economy of “not too hot not too cold.” Tom also discusses China’s slower than expected growth, Japan’s unexpected economic climb, and how that all could affect global economies. He also touches on the UK job market and the state of consumer confidence. He says we are seeing quite a strong wage growth in the UK, which is one the key drivers of inflation. He adds that going to be make it harder to squeeze inflation out and the interest rates are going to have to stay higher as a result.

Recorded September 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.

The Fidelity ETF Exchange: Celebrating 5 years of ETFs at Fidelity Canada

In this episode of the Fidelity ETF Exchange host Étienne Joncas Bouchard welcomes Audrey Kim to the show. Audrey is a Capital Markets Analyst on Fidelity Canada’s ETF team. As Fidelity Canada celebrates the 5th anniversary of its first ETF launch, Audrey explains to investors what ETF products Fidelity offers and elaborates on its many categories such as, equity factors, fixed-income, thematic, multi-asset and more. Étienne and Audrey also touch on the five common myths about ETFs and also five tips when it comes to trading ETFs.

Recorded on September 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 2022 Environics’ Advisor Digital Experience Study.

Canada’s economic outlook with the Hon. Jason Kenney

On today’s show we welcome former Premier of Alberta the Honorable Jason Kenney. His current position is as senior advisor at Bennett Jones. He speaks to host Pamela Ritchie about his current position, his time as Premier of Alberta and Canada’s longest serving immigration minister, and also his thoughts on government spending and affordable housing. Jason Kenney says this is the first time since post-war history and perhaps modern history where the emerging generation is facing a diminished standard of living compared to their parents. Home equity is out of reach for 90 per cent of young Canadians. He says broadly across Canada this is a cost-of-living crisis. He explains his thoughts on attracting investment and business noting that Canada is attracting less and less foreign investment and to him this is a warning signal. He says policy is driving business away.

Recorded on September 13, 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.

AI and machine learning trends – Sarah Hoffman

Sarah Hoffman, Vice President of AI and Machine Learning Research, joins host Pamela Ritchie today for a look at how artificial intelligence and machine learning is affecting investing today. Sarah unpacks the latest trends, concerns and issues surrounding AI and the effects it has on companies, people and the overall economy. She notes that Open AI recently released an enterprise-friendly version allowing companies to use the technology more seriously. So how does this relate to security concerns? Sarah points out that generative AI can alleviate data security concerns for companies, but despite improved security, challenges like fabrications, legal issues, and data ownership require attention before adoption. Sarah also touches upon emerging digital financial technologies and how it could change the way we invest and think about money and she also addresses AI in the workplace and how it could affect training and employees.

Recorded on August 30, 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.