Rich Pickings: Fidelity's Asset Allocation Podcast

Asia and emerging markets are our focus this month. Richard Edgar is joined by Fixed Income Portfolio Manager Paul Greer, Asia Economist Peiqian Liu, and Senior Sovereign Analyst Andressa Tezine to discuss whether they're being overlooked by investors. And, as interest rates pivot and pirouette around the world, where income seekers can find harbour.

With additional contributions from Fidelity's Global Macro Economist Anna Stupnytska. 

You can read more analysis from Peiqian Liu here, and you can hear more insights on our sister podcast The Investor's Guide to China here.

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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.

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From artificial intelligence to US resilience, Richard Edgar discusses the big themes of 2023 with a panel of multi asset portfolio managers: Taosha Wang, Ian Samson and Talib Sheikh. What can the investment stories of the year teach us about the year ahead?

With additional contributions from Lee Sotos and Patrick Graham. 

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Just a reminder that you still have time to submit your questions to our investment team for our Christmas special. You have until Friday 1st December to send your questions to editorial@fil.com.We look forward to hearing from you!

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Richard Edgar is joined by Steve Ellis, Global CIO for Fixed Income, Marty Dropkin, Head of Equities for Asia Pacific, and Global Macro Economist, Anna Stupnytska, to discuss the four scenarios Fidelity's investment teams are watching for 2024. 

With additional contributions from Fidelity's Chief Sustainability Officer Jenn-Hui Tan, Head of European Real Estate, Neil Cable, and Head of Private Credit Strategies, Michael Curtis. 

You can read Fidelity's 2024 Outlook in full here. 

Do you have a question you'd like to put to one of Fidelity's investment team? We're handing the microphone over to you again for our next episode. To take part please send your investment related question to editorial@fil.com by Friday 1st December, and we'll put the best ones to our experts. Look forward to hearing from you!

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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.

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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. 

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Fidelity International's Global Chief Investment Officer Andrew McCaffery joins Richard Edgar to discuss how investors should interpret the latest inflation data from the US, and what investors might have missed from China's recovery story. 

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There is a big gap between the action needed to deliver net zero and what the corporate world is currently doing, according to Fidelity’s third annual survey of our analysts on ESG issues. Host Richard Edgaris joined by Head of Fixed Income Research Gita Bal and portfolio manager DJ Phadnis to dig through the results and what they mean for the world around us.

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Fidelity International's Global Chief Investment Officer Andrew McCaffery joins Richard Edgar to discuss the Federal Reserve's decision to pause its interest rate hikes, for now, and what might come next. 

Opening clip:

Jerome Powell, Chair of the Federal Reserve

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What impact will climate change have on portfolios? Should investors ready themselves for a disorderly transition to net zero? And what if it all gets sorted out - what are the investment implications for a greener, decarbonised future?

Richard Edgar is joined by Global Macro Economist Anna Stupnytska and Portfolio Managers Kris Atkinson and Caroline Shaw to discuss how investors can rise to the challenge.

With additional contributions from Fidelity's Global Head of Investment Research Ned Salter.

Listen to more from Ned's Trade Offs series here.

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Over the last 18 months we've thrown crisis after crisis at our CIO, but this month we're letting Andrew McCaffery tell us the long term trends he's watching. Richard Edgar hosts.

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Fidelity International's Global Chief Investment Officer Andrew McCaffery joins Richard Edgar to discuss the recent banking turmoil, what central banks might do next, and what it all means for the recession outlook.

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Following the takeover of Credit Suisse by UBS, Richard Edgar is joined by senior analyst Federico Wynne to discuss how we got here and what might emerge over the weeks ahead.

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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 Liualso 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 News

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China’s reopening has spurred a rebound in the economy and in markets. But how should investors position for what comes next? Richard Edgar is joined by Fidelity's Global Chief Investment Officer Andrew McCaffery to discuss this, and what markets might have previously missed.

You can read more about the topics discussed in the podcast here.

Listen to our regular The Investors Guide to China podcast here.

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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.

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Fidelity International's Global Chief Investment Officer Andrew McCaffery joins Richard Edgar to discuss what the policy shifts in China could mean for growth and where he sees reasons for optimism for the year ahead.

You can read this year's Analyst Survey in full on your local Fidelity website or at Fidelityinternational.com from February 6th.

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As the World Economic Forum in Davos comes to a close, Fidelity's Richard Edgar talks to Chief Executive Anne Richards about her takeaways from the week including the international approach to Ukraine, central bank messaging, and why business leaders are allowing themselves a (tentative) sigh of relief.

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Tune in to the Fidelity Answers podcast channel for a new series that gets under the bonnet of business and sustainability.

From finance to energy to agriculture, how do business leaders balance the needs of all stakeholders and what are the trade offs they have to make in the process?

Ned Salter, Global Head of Investment Research at Fidelity International, interviews chief executives in critical sectors about the difficult decisions they face when it comes to ESG.

Episode One with Bank of America's Brian Moynihan coming soon to Fidelity Answers - subscribe here.

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For our festive special Richard Edgar is joined by Head of Equities for Asia Pacific Marty Dropkin, Portfolio Manager Aditya Khowala, and Global Macro Economist Anna Stupnytska to answer your questions. 

If you’ve been inspired to send in a question, our inbox is still open! You can send your questions to editorial@fil.com, and we’ll pick the best ones to put to our investment team in the new year. Looking forward to hearing from you.

You can hear more from Marty Dropkin in the latest Investors Guide to China podcast here.

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Fidelity's Global Chief Investment Officer Andrew McCaffery joins Richard Edgar to discuss the latest rate hike from the Federal Reserve and the challenges for central banks.

You can read more from Fidelity's Global Head of Macro Salman Ahmed on the latest move by the Federal Reserve here.

Opening clip:

Jerome Powell, Chair of the Federal Reserve

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After a year of volatility and uncertainty, how should investors navigate the year ahead? Richard Edgar is joined by Steve Ellis, Global Chief Investment Officer for Fixed Income, Ilga Haubelt, Head of Equities for Europe, and Victoria Mio, Head of Equity Research for Asia Pacific, to discuss the key themes and risks they'll be watching for in 2023.

With additional contributions from Salman Ahmed, Global Head of Macro and Strategic Asset Allocation, and Michael Curtis, Head of Private Credit Strategies. 

Do you have a question you'd like to put to one of Fidelity's investment team? We're handing the microphone over to you for our Christmas episode. To take part please send your investment related question to editorial@fil.com by Tuesday 13th December, and we'll put the best ones to our experts. Look forward to hearing from you!

You can read Fidelity's 2023 Outlook in full here.

Opening clips:

Hallie Jackson, NBC News, September 27th 2022

Robin Brant, BBC News, March 28th 2022

NBC News, July 13th 2022

Victoria Valentine, BBC News, February 24th 2022

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Fidelity International's Global Chief Investment Officer Andrew McCaffery speaks to Richard Edgar about what the US midterm results could mean for markets, and where the collapse of the FTX crypto exchange leaves digital assets. 

You can read more from Andrew McCaffery on the US midterms here.

Opening clip:

Former US President Donald Trump, Reuters.

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Uncertainty and volatility in markets: is it temporary or the mark of a new paradigm? Portfolio Managers Charlotte Harington and Ian Fishwick join Richard Edgar to discuss what investors can do in these times of turmoil, and, fresh from the IMF and World Bank meetings in Washington DC, Global Macro Economist Anna Stupnytska shares her thoughts on what lies ahead. 

With additional contributions from Fidelity's Chief Investment Officer Andrew McCaffery. 

You can read more on the topics discussed in the podcast at your local Fidelity website or atfidelityinternational.com

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Fidelity International’s Chief Investment Officer Andrew McCaffery talks to Richard Edgar about the British government's economic overhaul and to what extent lasting damage has been done.

You can read more on the topics discussed in the podcast here.

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Richard Edgar is joined by Fidelity International’s Chief Investment Officer Andrew McCaffery to discuss what the policy extremes mean for investor confidence in the UK, the risk of market contagion elsewhere, and where investors can still find safety.

You can read more on the topics discussed in the podcast here.

Opening clip:

Kwasi Kwarteng, BBC Breakfast

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In a week which saw sterling slide, an intervention from the IMF, and the Bank of England step in to calm markets, Portfolio Managers Tim Foster and Leigh Himsworthand Senior Sovereign Analyst Andressa Tezine join Richard Edgar to discuss where next for the UK, where to look for green shoots in the rest of the world, and where investors can allocate as we navigate new territory.

With additional contributions from Global Head of Macro and Strategic Asset Allocation Salman Ahmed.

You can read more from Fidelity's Global Macro and Asset Allocation team here.

Opening clips:

Dani Burger, Bloomberg TV

Jayne Secker, Sky News

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Fidelity's Chief Investment Officer for Fixed Income Steve Ellis talks toRichard Edgar about the unexpected consequences of the Fed's rate hike cycle and where investors should be looking for protection.

Read more from Steve at fidelityinternational.com or your local Fidelity website.

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Fidelity International's Chief Investment OfficerAndrew McCafferytalks to Richard Edgarabout recent market turmoil, how current dynamics compare to historic periods of financial stress, and what we might expect from the coming winter in Europe. Listen to find out what it all means for Fidelity's core asset allocation.

Read more at fidelityinternational.com or at your local fidelity website.

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Help us make podcasts that give you, our listeners, what you want. Take this short survey and we'll enter you in to a prize draw for £250 of Amazon vouchers or the equivalent donation to a charity of your choice. Entries close this Saturday, September 10th. Go on, click on the link - we really want to hear what you have to say.

fidelityinternational.com/survey

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Fresh from meeting industry leaders in Silicon Valley, Portfolio Manager Hyun Ho Sohnand analyst Jonathan Tseng join Richard Edgarto share their thoughts on how the tech sector will fare in a high-inflation environment. Global macro economist Anna Stupnytska puts it all in perspective and we join Portfolio Manager Aneta Wynimko on a West End shopping trip to see the world from the consumer’s point of view.

With additional contributions from Global Chief Investment OfficerAndrew McCaffery.

Listen to the full interview with Andrew McCaffery here.

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Help us make podcasts that give you, our listeners, what you want. Take this short survey and we'll enter you in to a prize draw for £250 of Amazon vouchers or the equivalent donation to a charity of your choice. Entries close September 10th. Go on, click on the link - we really want to hear what you have to say.

fidelityinternational.com/survey

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Opening clips:

Norah O'Donnell, CBS Evening News

Greg Milam, Sky News

BBC News

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Richard Edgar talks to Fidelity International's Global Chief Investment Officer Andrew McCaffery about economic headwinds and how investors can weather the storm.

Read more at fidelityinternational.com 

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Help us make podcasts that give you, our listeners, what you want. Take this short survey and we'll enter you in to a prize draw for £250 of Amazon vouchers or the equivalent donation to a charity of your choice. Entries close September 10th. Go on, click on the link - we really want to hear what you have to say.

fidelityinternational.com/survey

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Help us make podcasts that give you, our listeners, what you want. Take this short survey and we'll enter you in to a prize draw for £250 of Amazon vouchers or the equivalent donation to a charity of your choice. Entries close September 10th. Go on, click on the link - we really want to hear what you have to say.

fidelityinternational.com/survey

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What do companies really think of sustainability? What are they doing to improve their ESG credentials? These are some of the many questions 161 of Fidelity International's investment analysts around the globe have been asked as part the annual ESG Analyst Survey. And with 15,000 meetings with management teams a year under their belts their insights are invaluable for any asset allocator.

To dig through the findings Richard Edgar is joined by Global Head of Research for Fixed Income GitaBal,Head of Strategic Initiatives for the Global Investment Research TeamFiona O'Neill, and Fixed Income PortfolioManagerKris Atkinson. 

With additional contributions from Global Chief Investment Officer Andrew McCaffery and analysts Marcel Stötzeland Eric Zhu.

You can read more from this year's ESG Analyst Survey here.

Listen to Andrew's CIO update here.

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Help us make podcasts that give you, our listeners, what you want. Take this short survey and we'll enter you in to a prize draw for £250 of Amazon vouchers or the equivalent donation to a charity of your choice. Entries close September 10th. Go on, click on the link - we really want to hear what you have to say.

fidelityinternational.com/survey

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Watch out, there are bears about... but some impressive resilience in credit markets and from consumers are just two reasons not to get too fearful, says Fidelity's Chief Investment Officer Andrew McCaffery. However, he tells Richard Edgar that investors should be wary of a 'catalogue of headwinds' that are on their way and explains the latest thinking behind Fidelity’s current core asset allocation.

Read more at fidelityinternational.com or at your local fidelity website.

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Help us make podcasts that give you, our listeners, what you want. Take this short survey and we'll enter you in to a prize draw for £250 of Amazon vouchers or the equivalent donation to a charity of your choice. Entries close September 10th. Go on, click on the link - we really want to hear what you have to say.

fidelityinternational.com/survey

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How should investors recalibrate for this new phase in markets and what sort of landing of the global economy can we expect central banks to achieve?

Richard Edgar is joined by portfolio managersCharlotte Harington and Jeremy Podgerand global macro economist Anna Stupnytska to discuss. With additional contributions from Paul Greerand Tim Foster.

Listen to Paul and Tim's recession debate.

Read ECB President Christine Lagarde's blog: Monetary policy normalisation in the euro area.

Read more expert commentary at fidelityinternational.com.

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Just how likely is a recession? Richard Edgar talks to two Fidelity portfolio managers, Paul Greer and Tim Foster, who take on different sides of the argument and explain how to position for each view. 

Opening clips:

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Editor in Chief Richard Edgar returns for this month's CIO update. He's joined by Fidelity's Global Chief Investment Officer Andrew McCaffery to discuss the risks for growth, how central banks are navigating inflation, and what this all means for asset allocation including a look at alternatives. 

Read more at fidelityinternationl.com

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From the energy transition to withdrawing from Russian assets, the conflict in Ukraine has put environmental, social and governance issues in the spotlight for businesses and investors. Carsten Roemheld is joined by Portfolio Manager Caroline Shaw, and Portfolio Manager and Director of Equities for the Emerging Markets team Punam Sharma to discuss how companies can navigate these challenges, and the implications for asset allocation.

With additional contributions from Fidelity's Global Chief Investment Officer Andrew McCaffery, and analysts Ben Eaton and Calum Emslie. 

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Carsten Roemheld speaks to Fidelity International's Global Chief Investment Officer Andrew McCaffery about the challenges posed by the volatility moving through markets and what it means for investors.

Read more at fidelityinternational.com/latest-thinking

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Carsten Roemheld speaks to Fidelity International's Global Chief Investment Officer Andrew McCaffery about his recent trip to Asia, the latest market developments and how they have informed his investment views.

Read more at fidelityinternational.com

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One month on from the start of the war in Ukraine, the knock-on effects for the global economy and the old world order are becoming clearer. With disrupted supply chains, persistent inflation, and a realignment of geopolitics, we take a closer look at how investors can navigate these seismic changes. Carsten Roemheld is joined by Global Head of Macro and Strategic Asset Allocation Salman Ahmed, Head of Multi Asset Investment Management for Europe Eugene Philalithis and Senior Sovereign Analyst Andressa Tezine to discuss the implications for asset allocation. 

With additional contributions from Director of Global Equity Research, Fiona O'Neill.

Read the latest thinking from Fidelity International here. 

Read Salman's piece onRemapping China risks.

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Carsten Roemheldspeaks to Fidelity International's Chief Investment Officer Andrew McCaffery about the questions facing investors on China and the war in Ukraine, and how markets have reacted to the Fed's rate hike. 

Read Andrew's piece on China's stance in the Ukraine crisis: A time for cool heads as the global order shifts

Read the latest thinking from Fidelity International here. 

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Carsten Roemheld speaks to Fidelity International's Chief Investment Officer Andrew McCaffery about the widening economic repercussions of the war in Ukraine.

Read more at fidelityinternational.com

Credits

5.20: ECB President Christine Lagarde speaking on March 10, 2022.

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As the humanitarian disaster continues to unfold in Ukraine and with the backdrop of more severe sanctions against Russia, Global Chief Investment Officer Andrew McCaffery talks to Carsten Roemheld about the economic consequences, the market implications, and the positioning of Fidelity's core asset allocation.

Read more at fidelityinternational.com/latest-thinking

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On the day that Russian forces launch a full-scale military invasion of Ukraine Fidelity's Global Chief Investment Officer Andrew McCaffery explains to Carsten Roemheld the likely repercussions for markets and central banks.

Read more at fidelityinternational.com/latest-thinking

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Volatile markets, unpredictable governments, rising costs - how does one begin to run a company in such uncertain times? How are managers feeling about the coming year, what are their plans and what are the implications for investors? We’ve asked over 150 of our global research team for their views as part of Fidelity International’s annual Analyst Survey.

Carsten Roemheld digs through the key findings with Global Head of Research for Fixed Income Gita Bal, Director of Global Equity Research Fiona O'Neill, and Portfolio Manager Caroline Shaw.With additional contributions from Global Chief Investment Officer Andrew McCafferyand analysts and portfolio managers Cenk Simsek, Rebecca Clementsand Alice Li.

Read the full annual Analyst Survey from Fidelity International here.

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Carsten Roemheld talks to Fidelity International's Chief Investment Officer Andrew McCaffery about why the current market volatility is set to continue, and how investors should be approaching it.

Read more at fidelityinternational.com/latest-thinking

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In our first episode of the year we hear from some of Fidelity's keenest central bank watchers about the policy moves they're expecting in 2022. How many hikes will the Fed push through, what path will the PBOC tread, and when does the ECB make its move? And how are all these expectations being reflected in allocations? We also hear where energy prices are heading and why. 

Carsten Roemheld is joined by Global Economist Anna Stupnytska and multi-asset Portfolio Managers Charlotte Harington and Matt Quaife.With additional contributions from Energy Analyst and Portfolio Manager Paul Gooden. 

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Carsten Roemheld talks to Fidelity International's Chief Investment Officer Andrew McCaffery about why, despite persistent inflation, the Fed won't go ahead with the multiple rate rises markets are expecting this year. 

Read more at fidelityinternational.com/latest-thinking

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How do you forge a sustainable future when you're the CEO of one of the world's biggest mining companies? BHP Chief Executive Mike Henry talks to Fidelity International's Global Head of Research Ned Salter about the balancing act he and other corporate leaders face and the importance of minimising ESG trade-offs.

This is an edited version of the video interview which you can watch here along with more from Fidelity International's Sustainable World Summit.

Read more at fidelityinternational.com or your local Fidelity website.

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The pandemic and COP26 made 2021 a big year for sustainability. In this final podcast of the year we round up the main themes and ask where next for investors and ESG. We look back at Fidelity International's inaugural Sustainable World Summit and some of the highlights from speakers including the UN's Special Envoy for Climate and Finance Mark Carney; Former President of the European Commission José Manuel Barroso; and Chief Executive of mining giant BHP, Mike Henry.

Carsten Roemheld is joined by Fidelity's Head of Corporate Sustainability and Enterprise Relationships, Victoria Kelly. 

Watch interviews and highlights from Fidelity's Sustainable World Summit here. 

Read more at fidelityinternational.com or your local Fidelity website.

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Carsten Roemheld talks to Fidelity International’s Chief Investment Officer Andrew McCaffery about market response to Omicron and how investors should prepare for 2022.

Read more at fidelityinternational.com/latest-thinking

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Chief investment officers and economists assess the policy dilemmas and big investment themes of 2022. 

Richard Edgar is joined by Steve Ellis, Global Chief Investment Officer for Fixed Income, Romain Boscher, Global Chief Investment Officer for Equities, Anna Stupnytska, Chief Economist, with additional contributions from Neil Cable, Head of European Real Estate investing. 

Read Fidelity International's 2022 Outlook

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Climate change is a complex and ever-changing challenge for markets. In this podcast we hear how investors can map a path through the transition while also helping in the battle against a warming planet.

Richard Edgar is joined by Global Head of Macro and Strategic Asset Allocation Salman Ahmed, and two portfolio managers already investing with climate-focused strategies: Cornelia Furse and Kris Atkinson. With additional contributions from Global Chief Investment Officer Andrew McCaffery.

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Ahead of the global climate summit in Glasgow, Fidelity’s chief investment officer Andrew McCaffery talks to Richard Edgar about the challenges facing politicians.

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A reckoning in China, a debt ceiling in the US, soaring energy prices in Europe: in the month’s Rich Pickings we gather the experts to help make sense of it all. 

Richard Edgar is joined by Global Economist Anna Stupnytska, Head of Asia Fixed Income Marty Dropkin, and global equities Portfolio Manager (and a contrarian investor) Dmitry Solomakhin. With additional contributions from global Chief Investment Officer Andrew McCaffery.

Listen to the full interview with Andrew McCaffery here.

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Fidelity's Global Chief Investment Officer Andrew McCaffery talks to Richard Edgar about  how the Fed is likely to respond to data, what that means for the dollar, and how to allocate - especially in the rest of the world. 

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In this month's Rich Pickings three of Fidelity's equity analysts pitch what they think is the most exciting investment opportunity in their sector to a critical panel of portfolio managers. 

Richard Edgar adjudicates as analysts Johnny Tseng, Emma Newey,and Alex Laingas they present to portfolio managers Charlotte Haringtonand Aditya Khowala.We also hear about Fidelity's core asset allocation from Global Chief Investment Officer Andrew McCaffery. 

Listen to the full interview with Global CIO Andrew McCaffery.

To read more go to fidelityinternational.com.

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Fidelity International's core asset allocation remains risk-on despite odd bond markets, poor China data, and Covid case numbers. To find out why, Editor in Chief Richard Edgar talks to Global Chief Investment Officer Andrew McCaffery.

Read more at fidelityinternational.com

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Is inflation here today, gone tomorrow? Or in for the long haul? This is the question preying on the minds of central bankers and investors alike. But never fear: Fidelity's analysts and macro team have been poring over the data and in this month's Rich Pickings Richard Edgartalks to them and others from the investment desks about what happens next and what it means for allocations.

Joining Richard are Global Economist Anna Stupnytska, Multi Asset Portfolio Manager Matt Quaife, and Chief Investment Officer for Fixed Income Steve Ellis. With additional contributions from Global Chief Investment Officer Andrew McCafferyand Global Macro Strategist Max Stainton.

Listen to the full interview with Global CIO Andrew McCaffery here.

Read more at fidelityinternational.com.

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The US Federal Reserve's latest meeting signalled rate rises could come forward by a year to 2023. Richard Edgar talks to Fidelity International's Global Chief Investment Officer Andrew McCaffery about what this unexpected gear shift by the central bank means for markets and asset allocation.

Read more at fidelityinternational.com.

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China might dominate headlines but there's a lot more to Asia Pacific than a single country. We're talking developed economies with well-established capital markets benefiting from proximity to the world's productivity powerhouses. 

To hear about some of the unsung heroes of the Asia Pacific region Richard Edgar talks to Hong Kong-based investment director Catherine Yeung, and portfolio managers Dale Nicholls in Singapore and Paul Taylor in Australia. We also hear from Global CIO Andrew McCaffery on how Fidelity's core allocation is positioned for this phase of the pandemic.

Listen to the full interview with Andrew: Fidelity CIO on why we're calling it a miniboom

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Andrew McCaffery, Global Chief Investment Officer at Fidelity International, talks to Richard Edgar about the regained calm in markets, why now is the time to keep a close eye on further credibility tests, and why Japanese equities are looking up.

Audio excerpts from: The Atlantic; NBC News

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Efforts to mitigate the economic impact of Covid-19 have left us with debt mountains higher than after the second world war. As governments begin to roll out big post-pandemic fiscal programmes and increase the debt still further the role of central banks becomes increasingly vital to the stability of government finances. What does that mean for the functioning of global markets and the construction of portfolios?

In this month's Rich Pickings Richard Edgar talks to Fidelity International's Head of Global Macro and Strategic Asset Allocation Salman Ahmed together with portfolio managers Charlotte Harington and Tim Foster. With additional contributions from Global Chief Investment Officer Andrew McCaffery. You can listen to the full interview with Andrew here.

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Andrew McCaffery, Global Chief Investment Officer at Fidelity International, talks to Richard Edgar about the current psychology of markets, The Fed's stance (is it right?), and how to think about asset allocation at this important juncture.

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The results are in for Fidelity's annual Analyst Survey. Over 140 sector experts from across the world have been asked for a detailed picture of how they expect to see their companies perform in the coming year, from the health of balance sheets to the confidence of management teams, and the outlook is encouraging. Richard Edgar talks to the survey's editor, George Watson, to hear the key findings, and to Fidelity's global head of research, Ned Salter, and global economist, Anna Stupnytska, for the fuller context and investment implications. With additional contributions from analysts and portfolio managers Tom Robinson, Christine Miyagishima, and Ben Li.

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The speed and efficiency of vaccine programmes varies greatly from country to country. What does that mean for the re-opening of the global economy? To find out, this month Richard Edgar talks to Amit Lodha, global equities portfolio manager; Judith Finegold, a portfolio manager with a healthcare focus and a lead on Fidelity's Covid working group; and Anna Stupnytska, global economist. We also hear from China healthcare analyst Yuanlin Lang about that country's plans for inoculating its vast population.

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At the end of a year that tested policy makers, challenged investors, and remodelled economies Richard Edgar asks Global Chief Investment Officer Andrew McCaffery and Portfolio Manager Charlotte Harington to listen back to what they said as the crisis unfolded. What were they thinking as markets plummeted and then soared? What were the calls they made and what lessons have they learnt? 

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In this penultimate episode of a year that took everyone by surprise we hear from Fidelity's chief investment officers about how to approach the next twelve months. Richard Edgar, Editor in Chief, talks to Chief Investment Officer for Fixed Income, Steve Ellis; Chief Investment Officer for Asia Pacific, Paras Anand; and Global Economist Anna Stupnytska and asks them how investors should seize the new reality in 2021. We also hear from Head of Real Estate Neil Cable about whether 2020 was the year the office died.

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With the US elections fast approaching we take stock of what the radically different policies proposed by the two potential administrations could mean for markets and investors. Richard Edgar talks to Fidelity's Global Head of Macro Salman Ahmed.

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Fidelity CIO Andrew McCafferytalks with Editor in Chief Richard Edgarabout:
- the role of confidence in recovery
- how robust the US economy is in the face of election turbulence
- what investors can do to protect portfolios and where China can help

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How should investors approach the road to recovery and its inevitable potholes? This month, Editor in Chief Richard Edgar discusses rebounds, stimulus, second waves, and the likelihood of inflation with Chief Investment Officer for Fixed Income Steve Ellis; Global Economist Anna Stupnytska, and Portfolio Manager Charlotte Harington; with additional contributions from Portfolio Manager Ian Samson in Hong Kong.

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We're back from the summer break and to get things going Richard Edgar hears from Chief Investment Officer Andrew McCaffery about where market expectations find themselves, what the latest signals from the Fed could mean for investors, and how to recognise resilience.

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A deeply divided America heads to the ballot box in three months. Incumbent President Trump faces Democratic nominee Joe Biden in an election that's taking place in the midst of a health crisis, a faltering economy, and widespread social unrest. This month we ask the investment teams how they're positioning for the turmoil and what  November's results could mean for portfolios.

Richard Edgar, Editor in Chief, talks to Global Economist Anna Stupnytska; Head of Equities, Ned Salter; and Portfolio Manager Aditya Khowala. With additional contributions from portfolio managers Charlotte Harington, Peter Khan, Aneta Wynimko, and Sumant Wahi.

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Fidelity's global Chief Investment Officer Andrew McCaffery assesses the scale and effectiveness of state intervention that lead to a remarkable second quarter for markets, and summarises his outlook for the third quarter and beyond. 

Also covered:
- the new normal for Fidelity staff as lockdown restrictions change around the world, and how we're interacting with clients and invested companies
- what to expect from markets as we get closer to November's US election
- the sharp rise in interest in ESG considerations in conversations with clients

Hosted by Richard Edgar, editor in chief.

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Understanding Covid-19 and its potential impact has become fundamental to shaping investment decisions. In this month's Rich Pickings we hear about the research that's being carried out by the investment teams on the virus, what they've learnt, and how it's filtering through to portfolios.

Richard Edgar, Editor in Chief, talks to Anna Stupnytska, Global Economist; Amit Lodha, Portfolio Manager; and Tom Ackermans, Equity Research Analyst and a lead on Fidelity's Covid Working Group. With additional contributions from Markets Research Analyst, Max Stainton.  

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Fidelity Chief Investment Officer Andrew McCaffery joins Richard Edgar to talk through the dissonance between buoyant markets and gloomy economic data, worrying signals in the current rally, and how important the US election and Brexit might be in the context of a global pandemic.

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In this month’s Rich Pickings we hear why inflation is likely to be some way off, how portfolios are being adjusted as the old rules are torn up, and why past experience means recovery policies could look very different this time.

Joining Editor in Chief Richard Edgar is Global Economist Anna Stupnytska; Portfolio Manager and Head of Multi Asset Investment Management in Asia Matt Quaife; and Lead Cross-Asset Strategist Wen-Wen Lindroth.

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Fidelity CEO Anne Richards analyses the market's response to the coronavirus crisis and, as we move into a world living with the consequences, explores what has to change in supply chains, corporate aims, and capitalism itself.

Presented by Richard Edgar, editor in chief.

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In our regular check-in with Fidelity's chief investment officer Andrew McCaffery, we cover the past week in the markets, long term challenges for central banks, and the question of how to diversify a portfolio when assets don't behave as they once did. We also speak to Henk-Jan Rikkerink, the head of our Multi Asset and solutions teams. He suggests that income and growth investors need to rethink the role of bonds in their portfolios - temporarily at least.

Presented by Richard Edgar. 

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Federal Reserve chair Jerome Powell's comments this week echo what our Chief Investment Officer Andrew McCaffery has been telling us for some time - that a quick V-shaped recovery is unlikely. Today we look at why that is, what governments and private firms can do to aid future recoveries, and why greater international cooperation is needed to avoid long-lasting damage.

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With fixed income and equities markets seemingly entering a more benign phase after record swings in recent weeks, should we be looking to the oil price instead for a better guide to future prospects? And as central banks pump in trillions of liquidity, could inflation be on the radar? Chief Investment Officer Andrew McCaffery discusses these topics with Editor in Chief Richard Edgar.

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In this month's Rich Pickings we hear from Fidelity's global economist, Anna Stupnytska, about the likely scenarios she envisages playing out as the world moves through the coronavirus crisis. Global equities portfolio manager Jeremy Podger outlines how he is adjusting his portfolios in response, how he's valuing companies at this time of uncertainty, and which companies he's watching as a Darwinian era dawns on the corporate world. And oil: Richard Edgar, Editor in Chief, asks what the historic fall in prices into negative territory tells us about the state and future of the global economy. With additional contributions from Asia from portfolio manager Ian Samson.

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How are economic data playing into markets and what is scenario planning telling us about how to approach different asset classes during the pandemic? Chief Investment Officer Andrew McCaffery talks to Editor in Chief Richard Edgar about where we find ourselves after the Easter break and how the support of central banks is influencing investor behaviour.

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Fidelity's Chief Investment Officer Andrew McCaffery talks to Editor in Chief Richard Edgar about why we might see a change in market leadership as China and other parts of Asia benefit from their handling of the pandemic, and what public rescues of private companies mean for sustainable investing.

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Fidelity's Chief Investment Officer Andrew McCaffery talks to Editor in Chief Richard Edgar about where markets find themselves in response to both the pandemic and the oil price, the possibilities emerging in credit markets, and how the crisis might re-frame the active-passive debate.

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It's hard to see into the future when so much is up in the air. But in this podcast we try and decipher some of the early indicators of what a post-coronavirus world might look like. What changes will take place in the corporate landscape and how will the role of the state play out? Which companies will emerge stronger and which will be utterly transformed? What about the future of markets themselves? Answering these questions and more are Paras Anand, Fidelity's Chief Investment Officer for Asia Pacific; Ned Salter, Head of Equities; and portfolio manager with a consumer and demographics focus, Aneta Wynimko. Hosted by Richard Edgar.

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Fidelity's Chief Investment Officer Andrew McCaffery - complete with his new home podcasting kit - talks to Editor in Chief Richard Edgar about where we are in the coronavirus crisis, the speed and consequences of huge government stimulus interventions, and how analysts and portfolio managers are looking for idiosyncratic opportunities.

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This podcast is from our sister channel Fidelity Answers. Subscribe for more market expertise on topics ranging from electric vehicles to investing in China.

In this episode, Chief Investment Officer for Fidelity International, Andrew McCaffery, talks to Richard Edgar about how latest market developments square up to similar past events, how he's advising portfolio managers, and what's helping him to navigate the liquidity and logistical challenges of the pandemic.

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How do you manage funds in the face of extreme volatility? What strategies or asset classes provide the best defences? In this second episode for March, Portfolio Manager Eugene Philalithis talks to Editor in Chief Richard Edgar about how he's navigating the current market turbulence.

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A perfect storm of fear triggered by a pandemic and an oil shock have given investors a rude awakening with markets dropping at a scale not seen for over a decade. For a special episode of Rich Pickings, Editor in Chief Richard Edgar talks with Fidelity's global chief investment officer Andrew McCaffery together with CIOs for equities, Romain Boscher, and fixed income, Steve Ellis, about the latest market events and how its affecting investors and their own outlooks.

**If you enjoy Rich Pickings then why not try our sister podcast, Fidelity Answers, where we hear from the experts on a range of topics affecting markets, global economics, and the world of investing.**

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This month we hear from those on the frontline about the impact of the coronavirus in China and beyond: how much is the outbreak clogging the engine of the global economy, how are supply chains coping, and to what extent is disruption transmitting to other markets? 

On the line from Hong Kong are Jing Ning, a portfolio manager with a focus on China, and Bryan Collins, Head of Fixed Income in Asia. And joiningRichard Edgar, Editor in Chief, in the London studio is Anna Stupnytska, Head of Global Macro and Investment Strategy. We also hear what the latest data are saying with a reading from Ian Samson, Portfolio Manager; and equity research analyst Oliver Trimmingham outlines how the auto sector in China is being affected by the outbreak. 

**If you enjoy Rich Pickings then why not try our sister podcast, Fidelity Answers, where we hear from the experts on a range of topics affecting markets, global economics, and the world of investing.**

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"Fear makes the wolf bigger than he is," or so the saying goes... In a world of 24-hour news coverage and a commercial imperative to be louder than your competitor it can be hard to hear through the noise when a global event like coronavirus hits. In this month's Rich Pickings we gather three of our investment team from different disciplines to explain how they're approaching the pandemic in terms of their portfolios and broader investment thinking. 

Richard Edgar, Editor in Chief, talks to Portfolio Managers Aneta Wynimko and Charlotte Harington, and Director of Equities, Terry Raven. With additional contributions from Wen-Wen Lindroth, Cross Asset Strategist, and Ian Samson, Portfolio Manager. 

**If you enjoy Rich Pickings then why not try our sister podcast, Fidelity Answers, where we hear from the experts on a range of topics affecting markets, global economics, and the world of investing.**

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The UK election has delivered a decisive victory to Boris Johnson. How widely and for how long will the ramifications be felt by markets? And what of elections elsewhere - not least the US in 2020? This month's Rich Pickings takes stock of the broad shift in global politics and asks how investors should be positioned.

Richard Edgar, Editor in Chief, talks to Wen-Wen Lindroth, Lead Cross Asset Strategist, Amit Lodha, Portfolio Manager, Alexander Laing, Equity Analyst, and Ian Samson, Assistant Portfolio Manager. 

**If you enjoy Rich Pickings then why not try our sister podcast, Fidelity Answers, where we hear from the experts on a range of topics affecting markets, global economics, and the world of investing.**

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This month, Rich Pickings gathers Fidelity's Chief Investment Officers to ask them what investors should be watching for in 2020: the risks, the rewards, and the hurdles they see on the horizon as we approach the new year. 

Richard Edgar, Editor in Chief, talks to Andrew McCaffery, CIO for Alternatives and Solutions, Steve Ellis, CIO for Fixed Income, Romain Boscher, CIO for Equities, Neil Cable, Head of Real Estate, and Punam Sharma, Director of Equities. 

**If you enjoy Rich Pickings then why not try our sister podcast, Fidelity Answers, where we hear from the experts on a range of topics affecting markets, global economics, and the world of investing.**

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In this month's Rich Pickings we turn our attention to central banks. As the US Federal Reserve issues its third rate cut since July, we ask how effective is monetary policy really - both in developed and emerging markets? What other tools do governments have at their disposal to guard against recession? And what does it all mean for investors? We also hear details on October's asset allocation - how and why has the House View changed.

Richard Edgar, Editor in Chief, talks to Portfolio Managers Matt Siddle and Paul Greer, and to Senior Sovereign Analyst Andressa Tezine. With additional contributions from Lead Cross-Asset Strategist Wen-Wen Lindroth.

**If you enjoy Rich Pickings then why not try our sister podcast, Fidelity Answers, where we hear from the experts on a range of topics affecting markets, global economics, and the world of investing.**

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In this month's Rich Pickings our investment team gets under the skin of markets for a robust diagnosis of the global economy: are investors overestimating corporate profitability? We put the notion of 'Japanification' to the test, and hear why gold and department stores are weighing on the minds of portfolio managers. Plus a look at how Fidelity's House view has shifted over the summer break.

Richard Edgar, Editor in Chief, talks to Lead Cross-Asset Strategist, Wen-Wen Lindroth, and Portfolio Managers Bill McQuaker and Jeremy Podger. With additional contributions from Assistant Portfolio Manager Ian Samson and Co-Portfolio Manager Marton Huebler.

**If you enjoy Rich Pickings then why not try our sister podcast, Fidelity Answers, where we hear from the experts on a range of topics affecting markets, global economics, and the world of investing.**

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