The unpopularity of the UK market in recent years has made it an attractive hunting ground for contrarian value investors. While investors continue to be seduced by the charms of the US technology sector, we believe the UK market has an underappreciated richness of opportunity, combining strong earnings growth, high dividend yields and low valuations.
The new US tariffs sound the death knell of globalisation. Markets have under-estimated their scale and there are substantial risks to global growth as a result
Tariffs, funding freezes, and government spending cuts have caused investors to reassess the outlook. The chances of stagflation have grown, but policy will stabilise, and opportunities will appear, both domestically and globally.
Mike Riddell, portfolio manager of Fidelity Strategic Bond Fund, provides an overview of the macroeconomic environment and outlines his views across the strategy’s main alpha sources. Against a backdrop of increased global market volatility, potentially signalling the end of the US exceptionalism trade, he outlines why the team has become less bullish on US Treasuries in the context of less attractive valuations.
Sam Morse and Marcel Stötzel, portfolio managers of Fidelity European Fund and Fidelity European Trust PLC, examine the challenges and opportunities facing investors in European equities. Despite an uncertain macro backdrop, they explain why a focus on high quality companies with strong balance sheets and sustainable dividend growth can continue to drive attractive long-term returns for investors in the region.
China's economic landscape presents a mix of challenges and opportunities for investors. While tariffs and regulatory concerns have impacted sentiment, the focus on domestic revenue-generating companies and supportive government policies offer a cautiously optimistic outlook. Fidelity China Special Situations PLC portfolio manager Dale Nicholls shares his latest thoughts on the investment outlook for China and how the trust is positioned to navigate the current environment.
Fidelity Emerging Markets portfolio managers Nick Price and Chris Tennant discuss their outlook for emerging market equities, exploring signs of stabilisation in China, as well as opportunities in markets as diverse as Mexico and India.
Fidelity China Special Situations PLC portfolio manager Dale Nicholls shares his outlook for 2025 and provides an insight into how he is looking to position the portfolio against an evolving macro backdrop.
The ongoing global government bond selloff has pushed 30-year gilt yields to their highest level since 1998, drawing comparisons to the fallout from the Truss government’s 2022 budget fiasco. Fidelity Strategic Bond portfolio manager Mike Riddell explores the key factors driving the sharp rise in bond yields and analyses the implications for UK fixed income markets.
Alex Wright, portfolio manager of Fidelity Special Situations & Special Values, shares his outlook for 2025 and provides an insight into how he is looking to position the portfolios against an evolving macro backdrop.
In its November meet, as was widely expected the Bank of England cut interest rates from 5.0% to 4.75%, joining many central banks in developed market who are all now amidst a rate cutting cycle. Against this backdrop, Ben Deane, Investment Director for fixed income, assesses the credit landscape, while highlighting why he believes that all-in yields remain attractive and the recent rise in yields offers an attractive entry point for investors.
Donald Trump has won the US presidential election. Here, Fidelity International’s economists and investment managers discuss some of the likely impact.
Portfolio manager Talib Sheikh shares his take on the US election result, the outlook for asset classes and how Fidelity’s multi asset income range is positioned, highlighting the increased exposure to defensive quality income equities.
Recent spikes in market volatility, slowing macro signals and stretched valuations are among the many signs that are pointing to a global slowdown. In this environment, portfolio managers Kris Atkinson and Shamil Gohil outline why they are de-risking portfolios and shoring up liquidity as they focus on high quality alpha opportunities and lock in still attractive all-in-yields in investment grade credit markets.
One of the most consistent themes in financial markets over the past 15 years has been the outperformance of US equities. A dollar invested in the S&P 500 at the low of the financial crisis in 2009 would now be worth over $10, more than double the return from European equities and around three times the return from UK, emerging markets or Chinese equities. An allocation of 100% US equities would have been difficult to beat. Why have US equities been so successful and will the trend continue?
Recent months have served a timely reminder that market dynamics can shift rapidly. As investors mull the shape of portfolios amid potential concentration risks, Asia offers attractive long-term growth and income potential at compelling relative valuations, alongside diversification benefits. Marty Dropkin, Head of Equities, Asia Pacific, outlines how investors can position to capture long-term value and embrace what’s next in the region’s development.
As we move further away from a decade of ultra-loose monetary policy, bonds are once again proving their attractive diversification benefits. Our UK fixed income portfolio managers reflect on the recent bout of market volatility and outline the benefits of duration in an environment where investors are increasingly sensitive to weak macro data.
With visitors heading to Paris for this summer’s Olympics, which French companies stand to benefit? Marcel Stötzel, portfolio manager of the Fidelity European Fund and Fidelity European Trust PLC, examines the changing dynamics of the luxury goods market. He highlights why he continues to favour companies with strong pricing power, which will be well-placed to grow in an uncertain market environment.
After years of underperformance, UK equities could be on the cusp of a much-needed revival in fortunes as the fundamental environment becomes more stable. Alex Wright, portfolio manager of Fidelity Special Situations and Special Values PLC, outlines how the political and economic backdrop is likely to evolve and the unloved areas of the market that could set to benefit.
Following months of pain for bond markets hit by stubborn inflation and high interest rates, front-end credit remains a relative safe haven for investors, continuing to provide attractive relative risk adjusted returns. Here, our portfolio managers analyse the impact of so-called “wipeout” yields and spreads and outline why current attractive levels mean that the performance of front-end bonds is now much more insulated from further yield rises or spread widening than it has been in the past.