Fidelity Answers: The Investment Podcast

Chip shortages at the start of the Covid pandemic threw semiconductors into the limelight. More recently, chips have been the focus of trade tensions between China and the US. Now, as China reopens and supply chains adjust, how will the ‘Chip War’ affect the future of the global tech hardware industry, and ultimately the prices of thousands of types of consumer goods?  In this episode, Catherine Yeung, Investment Director, and Marty Dropkin, Head of Equities, Asia Pacific, are joined by Terence Tsai, Analyst and Portfolio Manager, and Tina Tian, Portfolio Manager, as they discuss China's evolving role in the global tech hardware supply chain, the effects of the ‘Chip War’ with US, and what it all means for the economy and investors. With additional contributions from Miya Huang, Innovation Intelligence Lead in Dalian; Zaf Tiu, Research Associate in Singapore; Chandrasekhar Sridhar, Analyst & NDA in Mumbai; Vivian Pai, Fund Manager, Taipei; Jonathan Tseng, Equity Research Analyst, London; and Vivian Wang, Investment Analyst in Hong Kong.   Read more at fidelityinternational.comSee omnystudio.com/listener for privacy information.

After the collapse of Silicon Valley Bank, Richard Edgar is joined by Steve Ellis, Global CIO for Fixed Income, Anna Stupnytska, Global Macro Economist, and Gita Bal, Global Head of Fixed Income Research, to discuss the fallout and whether it could be enough to force a rethink at the Federal Reserve.  Asia Economist Peiqian Liu also joins Richard to discuss what China's recovery looks like on the ground. You can read more analysis on SVB and the fallout on your local Fidelity website or here. Opening clip: US President Joe Biden, March 13th, Sky NewsSee omnystudio.com/listener for privacy information.

Bunge is one of the world's biggest agriculture commodity businesses. Linking farmers with customers is a complex job. But doing it sustainably? Bunge's CEO Greg Heckman explains how he's approaching that challenge, and the the choices he's faced as chief executive, in his interview with Ned Salter, Global Head of Investment Research. Hear about the investment implications of that interview in this episode, recorded in November 2022, where Ned is joined by Senior Industry Analyst James Richards and Global Head of Fixed Income Research Gita Bal. Listen to the full interview here. Read and watch more on this interview here.See omnystudio.com/listener for privacy information.

From farmers to customers, agriculture commodities powerhouse Bunge works with thousands of stakeholders along vast value chains. Its scale means influence - so how is it responding to calls for greater sustainability in the crops it distributes? How is it managing the cost of increased ESG oversight? In this final episode of the series, recorded in October 2022, Ned Salter, Global Head of Investment Research, talks to Bunge Chief Executive Greg Heckman about the choices and trade offs he's been making since taking the helm in 2019. Listen to the Trade Offs Analysis for the investment implications of this interview with Fidelity's experts. Read and watch more on this interview here.See omnystudio.com/listener for privacy information.

Keeping profits, social responsibility, and public relations on an even keel is no mean feat when you're a government contractor. UK services company Serco employs tens of thousands across the world in areas as diverse as defence, justice, and healthcare.  Rupert Soames joined Serco as chief executive in 2014 and completed his tenure at the end of 2022. In this straight-talking interview, Fidelity International's Global Head of Investment Research Ned Salter hears about his ESG lessons and in particular the social component: could Serco pay their staff more? Yes, but they'd lose business. Should they carry out controversial government policy? Yes, if it's the mandate of a democratically elected government. Is ESG investing a good thing? Not in its more zealous forms, no. Hear him explain these answers in this episode, and why he sees public scrutiny as an essential part of the job, and then listen to Fidelity's investment team explain the significance of what's been said here. This interview was recorded in July 2022. Watch video clips and read bonus material from the interview here.See omnystudio.com/listener for privacy information.

Managing and looking after people is core to a government services company like Serco. And the risk management that goes with such work demands a very different approach. In this episode of Trade Offs Fidelity's investment team use highlights from the interview with Serco's former Chief Executive Rupert Soames to illustrate how investors should be considering the 'S' of ESG and why its importance is only set to rise.  Ned Salter, Global Head of Investment Research, is joined by Equity Research Analyst Dominic Hayes and Head of Strategic Initiatives for Global Investment Research Fiona O'Neill. Listen to the full interview with Rupert Soames here. Watch video clips and read bonus material from the interview here.See omnystudio.com/listener for privacy information.

Just how confident do CEOs feel about the year ahead? Do they really expect earnings to grow? Is reaching net zero still a priority? For answers to these questions (and many more), we’ve asked 152 of Fidelity International’s investment analysts for their views – and brought it all together into the annual Analyst Survey. Fiona O'Neill, Head of Strategic Initiatives for Global Investment Research, and Gita Bal, Global Head of Fixed Income Research, join Richard Edgar to dig through the results.  With additional contributions from Fidelity International's Chief Executive Anne Richards, Global Equities Portfolio Manager Ashish Kochar and analysts Serhat Birbilen, Michael Gaynor and Vivian Wang.  You can read the Analyst Survey in full here, or at your local Fidelity website. Follow this link to Trade Offs, our new podcast where we interview CEOs about the tough choices they're making when it comes to ESG.See omnystudio.com/listener for privacy information.

After three years, China has dropped its zero-Covid policy, and 2023 has brought a sharp rebound in activity. Road traffic, hotel bookings and many other indicators are approaching or even exceeding their 2019 levels. It's clearly good news for the economy but what does China’s reopening mean for regional and global supply chains? In the short term, Covid infections have been disrupting manufacturing as well as logistics networks but there are also some longer-term forces at play. The world looks different today than it did even just a few years ago, before the pandemic. The US-China trade war has prompted companies everywhere to hedge geopolitical risks by diversifying their manufacturing into other markets and shortening their supply chains. The slow burn demographic challenge is also pushing up manufacturing costs. In this episode, Catherine Yeung, Investment Director, and Marty Dropkin, Head of Equities, Asia Pacific, are joined by Evelyn Huang, Multi Asset Portfolio Manager, and Lynda Zhou, Equity Portfolio Manager, to discuss China's rapid reopening and what it means for the country's growth outlook, for its manufacturing competitiveness, and for investors looking to position themselves for the next phase. With additional contributions from James Trafford, Analyst and Portfolio Manager. Read more at fidelityinternational.comSee omnystudio.com/listener for privacy information.

Lorenzo Simonellis is chief executive of one of the world's biggest oilfield services and energy technology companies, Baker Hughes. It supports traditional exploration and extraction while also developing the latest energy equipment. As such, it stands in both the 'old' and 'new' spheres of the energy sector. Mr Simonelli talks to Fidelity International's Global Head of Investment Research Ned Salter about the pros and cons of natural gas at a time of political upheaval and the trade offs he faces while balancing energy security with emissions targets. Listen to the analysis of this interview by Fidelity's investment team here. Watch video clips and read bonus material from the interview here.See omnystudio.com/listener for privacy information.

What can investors learn from the trade offs an energy CEO is facing and the choices he's making? Fidelity's experts go over the highlights from the interview with Baker Hughes Chief Executive Lorenzo Simonelli, providing context and investment implications. Ned Salter, Global Head of Investment Research, is joined by Analyst and Portfolio Manager Paul Gooden and Portfolio Manager Rosanna Burcheri. Listen to the full interview with Lorenzo Simonelli here. Watch video clips and read bonus material from the interview here.See omnystudio.com/listener for privacy information.