Fidelity Answers: The Investment Podcast

How confident are CEOs as they lean in to 2024? Is inflation still a major worry for businesses or has it been banished? How concerned are company managers about shifting geopolitics? For well over a decade we’ve been asking our worldwide network of sector analysts these questions (and about 80 more) - to get a unique bottom-up picture of the companies they cover. Their conclusions form Fidelity International's annual Analyst Survey. This month, Fiona O'Neill, Head of Global Cross-Asset Research Capabilities, Gita Bal, Global Head of Fixed Income Research, and Kris Atkinson, Fixed Income Portfolio Manager, join Richard Edgar to dig through the results.  With additional contributions from analysts Liz Brockway, Eric Tse and Aki Takaesu. You can read the Analyst Survey in full here or on your local Fidelity website.See omnystudio.com/listener for privacy information.

Portfolio managers discuss the divided market in 2023, the success of big tech stocks, the resilience of economies, and investment opportunities in Asia. They also explore the development of Japan's economy, concerns about the European market, and share their investment strategies for the year ahead.

In this episode, Catherine Yeung, Investment Director, and Marty Dropkin, Head of Equities, Asia Pacific, explore the critical role of transition materials — minerals and elements, such as lithium, cobalt, and nickel, that are essential to developing and deploying clean energy technologies. Demand for these materials around the world continues to grow so securing a reliable supply of them is a priority for countries trying to get to net zero. China has many of them in abundance and it dominates their production and processing, which in turn makes the country indispensable to a successful and sustainable transition. Catherine and Marty are joined by Analyst and Portfolio Manager, James Richards, from London and Shanghai-based Director of Research for Equities in China, Monica Li, to discuss what investors can do to share in this boom and prepare their portfolios for a greener future. With additional contributions from Hong Kong-based Analyst and Portfolio Manager Karen Zhou and Shanghai-based Sustainable Investing Analyst Binyu Zhao. Read more at fidelityinternational.comSee omnystudio.com/listener for privacy information.

Steve Ellis, Marty Dropkin, Anna Stupnytska, Jenn-Hui Tan, Neil Cable, and Michael Curtis discuss Fidelity's investment outlook for 2024, exploring scenarios of tight monetary policy, soft landing, real estate shifts, sustainability, and the impact of high inflation rates. They also analyze the potential scenarios for China's economy and the importance of nature loss alongside climate change.

Louis-Vincent Gave, founder and CEO of Gavekal, joins Catherine Yeung in Hong Kong to discuss China's AI landscape, the bond market, and the internationalisation of the renminbi. They explore topics such as China's real estate reliance, the rise and fall of Chinese dominance in AI, opportunities and challenges in the AI ecosystem, China's diversification away from US flows, and potential investing opportunities.

Richard Edgar is joined by Steve Ellis, Chief Investment Officer for Fixed Income, Gita Bal, Global Head of Fixed Income Research, and Salman Ahmed, Fidelity’s Global Head of Macro and Strategic Asset Allocation, to discuss whether the levers central banks have to pull are working.   With additional contributions from Multi Asset Portfolio Manager Caroline Shaw.See omnystudio.com/listener for privacy information.

The podcast discusses the economic challenges faced by China, drawing parallels with Japan's experiences. They explore topics such as deflation, monetary policy, and consumer mindset. They also touch on global success of Yakort, China's CPI, aging population, SOEs' adaptation, and Japan as a rewarding market for shareholders.

This month's guests challenge the consensus on recession risk and sticky inflation - and where central banks are getting it wrong. Richard Edgar is joined by Fixed Income CIO Steve Ellis, Global Macro Economist Anna Stupnytska, and Portfolio Manager Rosanna Burcheri. And Nina Flitman takes a look at what the destocking trend in the chemicals sector could tell us about wider market stress with three analysts who cover the industry from different asset class perspectives. You can read more on their discussion here. See omnystudio.com/listener for privacy information.

When it comes to currencies, it often feels like it's all about the US dollar. Although the greenback has dominated international trade and finance for decades, some subtle shifts have started playing out among the currencies of major economies. Rising geopolitical tensions and the changing structure of global trade are prompting some countries to rethink and scale back their reliance on the dollar, a process now referred to as ‘de-dollarisation’. At the same time, China has been pushing to increase the use of the renminbi in international markets with the hope that someday it could challenge the dollar as a major reserve currency. This comes despite China's capital account remaining mostly closed and the renminbi not being freely convertible, and also despite the dollar's current dominance as the world's go to safe haven asset. In July’s episode, Catherine Yeung, Investment Director, and Marty Dropkin, Head of Equities, Asia Pacific, ask Portfolio Manager, Morgan Lau, and Asia Economist, Peiqian Liu, how far can de-dollarisation go? Could it disrupt how companies or countries pay for imports and exports? Or even how the US funds itself as the world's biggest debtor nation? With additional contributions from Amit Goel, Portfolio Manager, Monica Li, Director of Research, and Shing Zhu, Investment Analyst. Read more at fidelityinternational.comSee omnystudio.com/listener for privacy information.

China’s economic rebound hasn’t been as strong as many anticipated. But then, it’s not that surprising, as no one was expecting any major stimulus like in previous cycles, such as the global financial crisis. However, the Chinese consumer was really the one that was expected to underpin and power this recovery.  At the beginning of June, Fidelity’s global investment team embarked on a research trip to Shanghai and Hefei in eastern Anhui province where they met with dozens of companies. To get their on-the-ground insights, Catherine Yeung, Investment Director, and Marty Dropkin, Head of Equities, Asia Pacific, are joined in this episode by portfolio managers Dale Nicholls and Hyomi Jie. With additional contributions from Eric Zhu, Research Associate, and Eric Tse, Investment Analyst. Read more at fidelityinternational.comSee omnystudio.com/listener for privacy information.