FidelityConnects

Global real estate amid cooling inflation and rate cuts – Steve Buller

Signs of stabilization and potential growth are sprouting in the global real estate market. As economic conditions remain resilient, certain areas within the sector look more promising than others. Joining the show today to discuss the sectors in which he is seeing demand, and the strategies he implements to enhance portfolio resilience is Fidelity Global Real Estate Fund portfolio manager Steve Buller. Steve highlights that recent interest rate reductions have positively impacted real estate performance, especially when compared to broader global equity markets. He notes a significant shift towards income-oriented and defensive real estate sectors, like data centers and industrial properties, due to consistent demand and limited new supply. Going in-depth on data centers, he explains the "land-grab" effect they are experiencing due to the explosive growth in AI and cloud computing. He also discusses the evolving office market, explaining what the trend of companies reducing their office space due to remote work could mean for the future of the sector, particularly the potential of repurposing office buildings for other uses. Steve also touches on Hong Kong's market, the healthcare real estate sector, and the complex relationship between real estate and bonds.

 

Recorded on August 26, 2024.

 

For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.

What rate cuts mean for bond markets - Sri Tella

On this episode, Portfolio Manager Sri Tella discusses the outlook for bond markets in the second half of 2024. He anticipates gradual rate cuts, with the Federal Reserve focusing on employment and inflation, while keeping options open for more aggressive cuts if needed. Sri highlights its diversification benefits of fixed income saying it has stability against a high market volatility environment. He talks about how historically; fixed income has shown an asymmetric return profile at market cycle inflection points. Sri also discusses the outlook for rate cuts in Canada. He says he expects the cuts to continue, though much of this is already priced into the market. He touches on the current positioning within defensive sectors, noting a shift towards higher quality within the corporate space, explaining how provincial bonds are favored for their lower volatility and better liquidity.

Recorded on August 23, 2024. 

For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.

Global consumer spending patterns – Aneta Wynimko

Portfolio manager Aneta Wynimko joins us today as she discusses the latest global consumer spending patterns and where she is finding investment opportunities in the second half of 2024.  Aneta talks about the challenges in the consumer sector over the past few years from spending on all sorts of beauty and health-related products coming out of the pandemic to slowly down spending in some parts of the world including China.  Aneta is shifting her investment focus to India and Vietnam pointing out a lot of big consumption opportunities there. She says the Global Consumer Industries Fund includes large positions with exposure to consumer tech, whether it's Apple or Netflix or Amazon. They have strong growth. They have good visibility of earnings and valuations, so they are core and pillar of the fund.  But Aneta also looks at other opportunities including early cyclicals - companies that will benefit if interest rates come down and when consumers will have more disposable income to spend. 

Recorded on August 21, 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 a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.

Canada's future in AI, aging and remote work – Linda Nazareth, Economist

Joining us today to delve deeper into the shifting tides of Canada’s economy is economist and futurist Linda Nazareth. Linda is a former Senior Economist with CIBC, and a current Senior Fellow for Economics and Population Change with the MacDonald-Laurier institute. Canada’s economic and labour landscape is continually evolving, and today they are significantly influenced by two major factors: AI and the green transition. So how might these factors be influencing how companies operate? What impact might this have on certain industries, investment decisions, and how we work? We’ll unpack this and more today with Linda, and host Pamela Ritchie.

Recorded August 1, 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 a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.

Exploring fixed income markets in Q3 2024 – Jeff Moore and Michael Plage

Today we welcome Portfolio Managers Jeff Moore and Michael Plage as they discuss the fixed income landscape.  Jeff and Michael touch on topics such as the positive correlation between stocks and bonds, the sustainability of the 60/40 portfolio, and what steeper unwinds mean for the U.S. treasury curve.  With strong bond market flows, there have been significant returns, leading to an increased demand for treasuries in this sector. Jeff and Michael also touch on what geopolitical tensions could mean for fixed income. They explain how these escalations could accelerate Fed rate cuts and benefit bonds, but could also negatively impact equities.

Recorded on August 20, 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 a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.

Jurrien Timmer's global macro view – August 19, 2024

Earnings estimates continue to rise. This rise in earnings combined with falling rates could be a good backdrop for equities, a few high valuations notwithstanding. Joining us to unpack the latest market action is Jurrien Timmer, Director of Global Macro. Jurrien speaks with host Pamela Ritchie about the risks and effects of a possible rotation out of mega caps stocks and how a gradual reduction in rates by the Fed could change the economic landscape. Expanding on his market insights, Jurrien says if we do get a rotation out of the Magnifcent 7, we could be in a “careful what you wish for scenario.” He says wherever big stocks go, people will follow. Jurrien says we’re coming to a normalization in the market in both directions since the pandemic and he believes we are not heading into a recession. Jurrien says yes, we need to stay vigilant and monitor market moves, but investors should also take this as an opportunity to rebalance and diversify their portfolios. You can also see Jurrien’s slides on X, formerly known as Twitter.

Recorded on August 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 a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.

Analyst perspectives: U.S. aerospace and transports – Payton Liske

Today on the program, Fidelity Equity Research Analyst Payton Liske joins host Pamela Ritchie for an in-depth discussion on the U.S. aerospace and transportation sectors. With nearly 11 years at Fidelity, Payton’s diverse background offers a unique perspective on these cyclical industries. Payton dives into the challenges and opportunities facing the transportation sector, which has experienced significant volatility and earnings drawdowns since the pandemic. He also sheds light on the slow but steady recovery of the aerospace industry, where domestic air travel is rebounding, but also touches on the supply chain issues that hinder OEM production. Payton talks about the supply chain dynamics, and how the stronger pricing powers within the less-than-truckload segment has benefitted from the market consolidation. Payton also discusses how advancements in digital brokerage are reshaping the logistics landscape, offering smaller trucking firms greater access to business opportunities.

Recorded on August 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 a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.

Timmer Time: Do elections matter to financial markets?

Jurrien Timmer, Director of Global Macro, is back today for his quick hit “Timmer Time” to share why elections may, or may not, matter to financial markets. Also why bonds may be back!

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 a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.

Value investing in today's market – Naveed Rahman

Today on the show, we welcome Institutional Portfolio Manager Naveed Rahman as he provides an update on Fidelity’s Global Intrinsic Value Class and where he is finding new opportunities globally. Naveed says the team continues to invest in high quality companies that are reasonably priced. The team’s strategy is not looking for cheap companies - rather they are focused on companies with attractive valuations and high margins. Naveed says in most downdrafts the fund has been able to capture 48% downside and about 85-86% upside making this fund a complementary piece to equity portfolios. Naveed adds the team is invested in small to mid-sized cap companies. The fund is not dominated by tech stocks and is not invested in the Mag 7. Rather the fund is invested in tech, but in secondary beneficiary companies that have a significant role in AI-related themes. He adds the fund invests in healthcare, energy and materials.

Recorded on August 15, 2024.

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 a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.

Investing in innovation through founder-led companies – Dan Kelley

Today, we chat with Portfolio Manager Dan Kelley about founder-led companies and where he’s seeing opportunities in areas of AI and innovation. He discusses Founders Class Fund, which focuses on companies whose founders are still deeply involved in its daily operations. Dan highlights the appeal of founder-led companies, including those in the "Mag 7," which are closely tied to secular trends. He also anticipates broader opportunities, particularly in cyclically driven companies that have been cautious until now. He adds despite concerns of an economic slowdown, he identifies opportunities in consumer cyclicals and financials, where many companies are currently undervalued and offer promising long-term growth. Dan explains his excitement for the potential of generative AI, seeing it as a transformative technology with the ability to revolutionize daily life. But he adds, the rapid growth in AI, could cause some instability in the long term. And while the fund is predominantly focused on U.S. companies, it does have some international exposure, including Canada.

Recorded on August 13, 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 a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.

Jurrien Timmer's global macro view – August 12, 2024

After a week of volatility, US equity and bond markets are on the rebound. Key economic data will be released shortly, including CPI and retail sales. Joining us to unpack the latest market action, and what it may mean for you is Jurrien Timmer, Director of Global Macro. Jurrien speaks with host Pamela Ritchie, and shares his latest thoughts on the Fed, monetary policy, and valuations. Also, what market movers to keep an eye on in the near future. As always Jurrien will be sharing his ever-popular charts, so we encourage you to follow along by watching this as a video podcast on platforms that support video such as Spotify or YouTube Music. You can also see Jurrien’s slides on X, formerly known as Twitter.

Recorded on August 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 a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.

Denise Chisholm's sector and factor perspectives – August 8, 2024

Today we check in with Director of Quantitative Market Strategy Denise Chisholm for her sector watch analysis and what recent data is telling us about the broader economy. As the markets find its footing after last week’s global selloff, Denise shares if this was part of a healthy market correction or if it’s a sign that a recession or even possible hard landing is on its way. She says looking at historical data, what you will find is that when there are big spikes in the VIX, especially relative to the increase in credit spreads which run up , but not very much – what you will find is that in the top 2% of all occurrences, even in the top decile, those spikes tend to happen 85% of the time outside of recessions. So, for Denise, this recent sell off was not a typical recessionary signal. Yes, a shock to the market, but based on history, not shocking enough to tip the market into a recession. Denise says the labour market continues to be strong with the participation rate increasing especially those at prime age between 25 and 54 years old. In terms of strong sectors, Denise says financials and health care are showing potential to outperform. Denise says it may be time to lean into those economically sensitive sectors

 

Recorded on August 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 a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.

Yen and Now: Understanding the Carry Trade aftermath – Salim Hart

The Bank of Japan raised interest rates last week, causing a rippling affect that rocked global markets. The Japanese Yen surged, and the carry trade began to unravel. Global markets have rebounded since then, but may investors are searching for answers as to what this means for the markets going forward. Could the carry trade continue to unwind? And what could the Federal Reserve’s next move be as they look to cut interest rates next month? We speak to Fidelity Portfolio manager Salim hart to make sense of the latest events and what the Global Intrinsic Value team are positioning their portfolios for the months ahead. Salim recently visited Japan and provides insights into what the Bank of Japan could do next and what opportunities is finding at the moment. He also discusses the newly launched Global Micro-Cap Fund, which taps into the broad and less explored market and what opportunities he’s seeing with newer, less-established companies.

 

Recorded on August 7, 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 a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.

Third-quarter capital markets playbook and global sell-off reaction – Andrei Bruno

The dust is settling somewhat as markets get a handle on a global sell-off this past weekend that saw investors move money out of markets due to worries of a recession in the US, a slump in earnings from giant tech companies, and Japan’s Nikkei seeing its worst drop in almost two decades. To unpack this global market situation is Fidelity’s director of ETFs Andrei Bruno. Andrei sits down with host Pamela Ritchie to discuss how the market could recover and what this all means for investors. Andrei says although the global sell-off is a bit worrisome, generally, market corrections are healthy. He says now is not the time to panic or make any extreme moves. He says now is the perfect time to diversify your portfolio and take advantage of active management where investment professionals can make sense of the chaos. With a wealth of experience in bonds and the capital markets, Andrei says to keep a close eye on fixed income. Perhaps it may be time to add duration to your investment sleeve specifically US bonds. Andrei adds many questions still linger as global markets begin to calm down, he adds this probably won’t be the last of the market volatility we’ll see this year. But a US recession won’t come tomorrow. Stay the course, and focus on diversification.

Recorded on August 6, 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 a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.

Analyst perspectives: Industrials and materials earnings season takeaways – Claire Fleming and Robert Reynolds

Today on the show, we check in with two of Fidelity Canada’s equity research analysts Robert Reynolds and Claire Fleming. They share their latest insights into the industrials and materials sector and what they could see happening in the remainder of the year. Bobby and Claire sit down with host Pamela Ritchie and talk about the hit equity markets are taking as of late, and what that could mean for their respective sectors. Bobby reiterates the markets have seen days like this before. He says U.S. industrials have been relatively strong over the last year and half where certain themes like nearshoring could be beneficial. Claire points out materials, like copper, has seen some challenges. But she also says there are some great differences this cycle compared to past cycles where some secular trends can help offset some of those cyclical pressures. Claire and Bobby also touch on Mergers and Acquisitions, the latest earnings report and what a potential rate cut by the Fed could mean for sectors and for consumers.  

 

Recorded on August 2nd, 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 a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.

What the Fed's recent rate decision means for markets – Ilan Kolet

With the Fed’s latest decision to hold rates, but also signaling rate cuts ahead in September, we sit down with Institutional portfolio manager, Ilan Kolet to get his insights into the current inflationary environment, and what it means for the Global Asset Allocation team’s fund positioning. Ilan speaks to host Pamela Ritchie about current US unemployment numbers, productivity, and how the latest data is creating optimism in the markets.  Ilan who previously worked at the Bank of Canada says the BoC’s is not motivated by geopolitics or other macro themes, but rather influenced on monetary policy and not politics. Ilan says the GAA team continues to be overweight US equities, albeit slightly trimmed down. He adds they are also overweight commodities and are invested into EM as they see this area filled with potential growth.

 

Recorded on August 1, 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 a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.

FidelityConnects x Invested In Wellness: 10-minute holiday long weekend flow

As we relax this holiday long weekend it's time to clear our minds and look ahead. On today's podcast we welcome back Jessie Sarafian, host of our Invested in Wellness podcast and webcast, for a standing flow exercise to put our body and mind's in the right space.

Under construction – Building resilient client portfolios – Paul Ma

With inflation cooling, a dovish Federal Reserve, and resilient growth, the US economy is exhibiting classic 'Goldilocks' conditions - neither too hot, nor too cold - but just right. And today's guest is seizing this opportunity. Joining the show today to discuss where he's finding opportunity in the US and beyond, including where we are in the business cycle and what that means for portfolio construction ideas is Fidelity US Vice President and Lead Portfolio Strategist Paul Ma. Paul gives the audience and host Pamela Ritchie an overview of the US economy and market conditions, and outlines a favorable environment of solid fundamentals, including strong GDP growth and lower inflation. He emphasizes the potential of small-cap stocks, noting their undervaluation compared to large-cap stocks, though he cautions that small-cap stocks are more vulnerable to economic fluctuations and high interest rates. He also discusses global market dynamics, focusing on India's economic growth amidst geopolitical tensions and trade shifts. Paul explains his approach of balancing investments between small and large-cap stocks while keeping an eye on global developments and inflation trends, and how this could help investors.

 

Recorded on July 31st, 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 a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.

What's next for U.S. Growth Opportunities – Tom Rollins

Today on the show, we welcome institutional portfolio manager Tom Rollins.  Tom works closely with portfolio managers Kyle Weaver and Becky Baker who co-manage Fidelity’s U.S. Growth Opportunities Class fund. We check in with Tom to discuss growth opportunities in AI, in mega-cap stocks, and what investment opportunities are on the minds of both Kyle and Becky. Tom emphasizes the appeal and opportunity within the artificial intelligence landscape noting that we are currently in the build-out phase of AI. Tom says the team is investing in supply chain companies that are supporting this massive buildout. Tom says the fund team looks for companies and stocks that fall into 3 main buckets of the growth landscape: one - mature companies that are growing faster than the market; two - companies demonstrating resilient growth and three, companies that are less mature and are on the tipping point of massive growth. Tom adds macro themes in the market don’t play a big role in the team’s investment decisions; they spend more time focusing on mini-cycles within certain industries and sectors that are timed differently than the overall market. 

 

Recorded on July 30th 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 a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.

Exploring fixed income – Beau Coash

Today, we explore the fixed income landscape with Institutional Portfolio Manager, Beau Coash. Beau discusses AI’s impact on the bond market, market volatility amid political developments, and investment strategies in the corporate environment. With inflation cooling and yields no longer at their peak, Beau notes that the Fed is moving closer to cutting rates, signaling a more normal market environment. He also touches on the emerging opportunities in fixed income, which are supported by positive economic indicators such as consumer spending and easing wage pressure. Beau also highlights the bond markets attractiveness, with U.S. Treasury yields at levels not seen since 2006. He outlines investment strategies that favor maintaining liquidity, and shares his current thoughts on the US dollar’s strength.

 

Recorded on July 26^th, 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 a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.