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Multi Asset 2025: Late cycle with a twist
We are positive on risk assets despite being later in the cycle.
Q4 Asia Investment Outlook: Go with the east wind
A dip in US growth will have an impact on Asia, but the slowdown will also provide room for the region’s policymakers to cut interest rates.
Q4 Investment Outlook: Risks balanced
We’re seeing a rotation, not a sell-off.
Falling correlations suggest bonds can once again perform hedging role
The equity-bond correlation has turned negative. But it’s the context that matters.
Four principles for a multi-asset approach to the great green shift
The vast breadth of the energy transition offers access for all types of strategies; here are some principles to follow through this historic change.
Fidelity Answers: Deconstructing active ETFs
Growing numbers of investors are turning to active ETFs. What’s behind this boom, and what role can they play in portfolios?
Banks stand to win big in India and Indonesia’s dash for growth
In the race for growth, the banking sectors in two emerging Asian economies are proving uncharacteristically exciting.
Get real: 2024 and the need for income
For the first time in years, the interest available on cash deposits is tempting. However, parking money in ultra-defensive options comes with its own risks.
Chart Room: Credit markets focus again on fundamentals
Fidelity's model shows factors associated with credit fundamentals and valuations have contributed more than sentiment to investment returns since the pandemic
Rich Pickings podcast: Preparing portfolios for climate risk
What impact will climate change have on portfolios?
Proxy plays on China’s consumer rebound are all the rage in Paris
Luxury companies have been among the biggest beneficiaries of China’s bounce and are delivering investors exposure without putting money in Chinese companies.
Quarterly Outlook: Navigating the polycrisis - Part II
In Fidelity's latest quarterly outlook, we believe that recession over the next 12 months looks increasingly likely across developed markets.
The Investor’s Guide to China podcast: China’s reopening and supply chains
The Investor’s Guide to China podcast: China’s reopening and supply chains
Are private savings the answer for China’s ageing masses?
China's new ‘third pillar’ private pension scheme could reshape both ordinary people’s retirement plans and the country's asset management industry.
Outlook 2023: Download the assets
Find Fidelity International's full 2023 Investment Outlook here
Multi asset 2023: Defensive until volatility subsides
Volatility will remain high for some time given the complicated investment backdrop
Rich Pickings podcast: Keeping cool heads in volatile times
Portfolio Managers Charlotte Harington and Ian Fishwick join Richard Edgar to discuss what investors can do in these times of turmoil.
Q4 Investment Outlook: Into the unknown
Fidelity International's Q4 Investment Outlook looks at the increasing likelihood of a hard landing.
The Investor's Guide to China podcast: Private Markets
So much of the investment conversation is dominated by companies that have already gone public. But it's not always just about listed companies.
Q3 Investment Outlook: The Great Reset
Central banks have tried to strike a balance between reducing inflation by tightening financial conditions and mitigating the impact on economic growth.
Rich Pickings podcast: 'The rules of the game have changed'
'The rules of the game have changed,' how should investors recalibrate for this new phase in markets?
CIO podcast: Growth risks and the safe harbours for portfolios
Richard Edgar speaks to Fidelity's Global Chief Investment Officer Andrew McCaffery about growth risks and safe harbours for portfolios.
Chart Room: As others hike rates, can China’s easing policy remain a cut above?
Cuts to the reserve requirement ratio remain China’s monetary policy weapon of choice. How they are wielded highlights the tightrope policymakers must walk.
Rich Pickings podcast: The ESG questions raised by the Russia-Ukraine war
Carsten Roemheld discusses the ESG questions raised by the Russia-Ukraine war and the implications for asset allocation.
Q2 Asia Investment Outlook: Region sees opportunity amid volatility
Fidelity International's investment outlook for the second quarter for Asia sees regional opportunity amid the global volatility
Q2 Investment Outlook: The “Grand Chessboard” reconfigured; stagflation risks intensify
The global order is reconfigured and stagflation risks intensify.
Multi-asset view: More damage in the pipeline
The direct impact of the war in Ukraine seems to have been priced in for now, and stock markets had a relatively strong week. However, we are still cautious.
Rich Pickings podcast: Tectonic shifts - mapping the disruption to economies and supply chains
Rich Pickings podcast: Tectonic shifts - mapping the disruption to economies and supply chains
Stagflationary dynamics still in the background
As the conflict in Ukraine moves into its fifth week, volatility looks set to continue and the outlook is marred by the threats to growth
High near-term uncertainty keeps us cautious
Lockdowns in China and the risk of recession in Europe are adding to the list of uncertainties facing investors.
ECB faces huge dilemma as Russian invasion of Ukraine unfolds
The ECB’s accelerated reduction in asset purchases came as a surprise. There may be more changes to come.
Markets shift as Ukraine consequences spread
While the humanitarian impact of the war in Ukraine grows by the day, the economic effects are also mushrooming
Stagflation risks intensify as energy markets take centre stage
Stagflation risks intensify as energy markets take centre stage
Fed turns from friend to foe
Pace and extent of tightening cycle depends on the inflation dynamics and the terminal level of real rates the economy and markets can digest.
Chart Room: 2021’s long goodbye to transitory inflation
Five charts that show the inflationary impact of 2021’s reopening cycle
Multi asset in 2021: Fiscal policy takes centre stage
Risks are finely balanced across markets.
Chart Room: Oil vs gold - two sides of the reopening trade
Chart Room: Oil vs gold - two sides of the reopening trade
Chart Room: Asia’s export engine supercharged by new trade deal
Chart Room: Asia’s export engine supercharged by new trade deal
Swinging 60s inflation pattern due a comeback
The years between 1964-75, a time of fiscal expansion and low rates, shows why inflation might come back faster than some think.
Chart Room: The resilience of China’s onshore stocks
China’s onshore stocks (A-shares) have outperformed their Hong Kong and overseas listed counterparts, but their valuations are relatively undemanding.
Chart Room: A new record high for US stocks, but mind the lopsided valuations
The average European bank capital ratio has never been stronger. This has led to a stark contrast in returns across bank capital structures.
Chart Room: European banks’ CoCo bonds soar while equities slump
The average European bank capital ratio has never been stronger. This has led to a stark contrast in returns across bank capital structures.
Using gold to hedge an extreme world
Gold can act as a useful hedge against future financial distress and potential selloffs in risk assets
Infrastructure: A broad universe with diverse benefits and risks
Real assets and infrastructure can offer stable, inflation-linked returns, relatively high yield and diversification of risk.
CIO Outlook video: Andrew McCaffery on Multi Asset and Alternatives
Tactical allocations to non-US assets such as emerging markets, alongside alternatives and income plays, could help navigate a switch in market regime.
Fidelity Leading Indicator: Marginal cooling but still positive
The global economy is still expected to grow into 2020, but at a subdued pace
China stimulus takes aim
We think China's policymakers will focus on more targeted stimulus measures with more localised impact, like this week’s cut to a key policy rate.
Cool Heads: Bill McQuaker and Charlotte Harington on geopolitical risk
Bill McQuaker and Charlotte Harington discuss the rise of geopolitical uncertainty and what investors can do to combat it.
FLI: Surprisingly upbeat into Q4
The Fidelity Leading Indicator (FLI) showed firm improvement in September
Despite macro challenges, pockets of resilience in Chinese corporate earnings
Some bright spots in recent earnings reports suggest interesting opportunities
FLI: An 'uneasy' economic stabilisation ahead
The FLI suggests that even with the impending tariff escalation, we are far from a global recession
Gold glitters amid equity market sell-off, and still has room to run
We expect gold's status as a traditional safe haven will continue to support the price or even drive it higher.
GEARs: Lower for (how much) longer?
Our GEARs have slipped back, reversing the improvement seen in the second quarter.
China data improves but nascent recovery could halt further stimulus
Although the latest GDP figures show the worst may be behind us, there is no room for policy complacency.
Equities, fixed income and multi asset: three different paths to income
Income-focused funds cover all asset classes and are a compromise between risk, yield, predictability and sustainability as well as capital preservation.
Four trends behind the rise of income investing
We examine some of these and discuss why we think the focus on income will continue to remain a top priority for investors for the foreseeable future.
Central banks keep the show on the road, for now
Equity and bond markets don’t agree on what we should expect for the second half of the year. How should investors position in light of these mixed signals?
How to spot red flags when selecting managers
On the multi-asset team, we adhere to some key rules that help mitigate the risks of investing in actively managed funds.
Fidelity Leading Indicator: Stronger data indicate a recovery
Improvement in global growth has been reassuringly broad-based
Renewed trade tensions buck the rally
Policy action is now driving market sentiment
US treasuries still attractive despite risk rally
In an uncertain world, US treasuries offer the dual benefits of defensiveness and diversification.
Fidelity Leading Indicator: Green shoots versus trade war shots
Fidelity Leading Indicator: Green shoots versus trade war shots
Amid China’s grab bag of economic data, surging credit growth will do the real work
A closer look at China’s first quarter GDP data reveals some mixed messages about the country’s economic performance.
Fidelity Leading Indicator: A sign of life?
Our leading indicator is at a crossroads
For things to get better, they may have to get worse
The market rally continues. But after a decade of QE, is there a limit to how long markets will respond positively to the same old policies?
Emerging market GEARs outperform sluggish Europe and Japan
Global GEARs suggest stability over the past two months, after a volatile end to 2018.
Fidelity Leading Indicator: Red lights, not green shoots
Signs of more dovish central banks may have got markets more excited, but our FLI has not moved.
ECB startles with dovish move
The central bank kept rates on hold and unveiled new cheap funding measures to boost the faltering Eurozone economy.
What does the US-China trade-talk extension mean for investors?
While headlines suggest that the US and China are inching closer to a deal, it’s clear that there are still a range of questions that need to be addressed.
Fidelity Leading Indicator: deeper drop, with no sector spared
The FLI Cycle Tracker plunged deeper into the bottom-left quadrant indicating growth below-trend and decelerating
Stuck in low GEAR
Absolute GEAR levels do not make for particularly pleasant reading. The DM average is hovering around its lowest since mid-2016.
Income and yield are not the same thing
Although higher rates imply higher income generation as yields rise, we have not seen income from coupons keep up with the rise in rates.
A troubled marriage to tech
Investors are married to the tech story whether they like it or not
Choose your own adventure: China’s economic destiny
What does it mean for the rest of the world if in a decade's time China becomes the preeminent economic superpower, or gets stuck in the middle-income trap?
2019 China Outlook- Time to enter the tiger’s den?
We explore the opportunities in China equities and fixed income in 2019.
Fidelity Leading Indicator: FLIrting with disaster?
Perhaps ‘disaster’ is too strong a word to describe January’s Fidelity Leading Indicator (FLI) reading, but it is the worst result since 2012.
China and emerging market GEARs deteriorate in December
Emerging market economic indicators deteriorate in December
Price moderation is an encouraging sign in the global housing market
Price moderation in some overvalued housing markets is an encouraging sign, as it is due mostly to supply-side policy measures rather than weakness in demand.
Fidelity Leading Indicator: Deceleration after frontloading on US tariff worries
Our proprietary Fidelity Leading Indicator (FLI) now shows a deceleration trend, in contrast with the tentative stabilisation we had seen previously.
All eyes on Buenos Aires for make-or-break G20 summit
The odds of a truce or no deal at the G20 are balanced.
EM Outlook: It’s been a long time coming, but a change is going to come
Risks remain to the downside for emerging markets due to China’s slowing growth and toughening global conditions.
Multi Asset Outlook 2019: Complacency on inflation stalks markets
Fidelity International's multi asset outlook for 2019 examines the risk of a shock to markets from higher-than-expected inflation.
Eurozone, China GEARs show deterioration in November
US GEAR continues its strong run, even as China is at its weakest since April 2015 while the UK is at its lowest level since the referendum result.
CIO views: The correction that averted a capitulation
Recent market volatility shook investors' confidence, with many questioning if the end of cycle was near. Our CIOs give their views.
Fidelity Leading Indicator - hit by 'front-loading'?
Our FLI is still in the growth below trend and decelerating quadrant. We still have to assess the impact of 'front-loading' on any nascent positivity.
What to expect from the US midterm elections: Macroeconomic and market implications
Fidelity's cross-asset scenario analysis on potential outcomes from the US midterm elections assesses the macroeconomic and market implications.
Emerging market GEARs weaken further in September
Our macro indicator shows emerging markets are under pressure
GEAR levels show exuberant US economy
Recent economic data show an exuberant US economy, stabilisation in emerging markets and only a slight tick-down in Europe.
Fidelity Leading Indicator: the trough isn’t here, but could be getting near
Our proprietary Fidelity Leading Indicator has now registered six straight months in the ‘growth negative and decelerating’ quadrant of its Cycle Tracker.
Global growth: running out of steam
Global growth, which has been led by the US, is losing momentum, while China is also cooling.
Grit in the machine: Assessing the US-China trade war impact for investors
There are two ways the US-China trade war situation could play out for investors, depending on US policymakers’ motives for the current action.
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