Tech stocks have continued to perform well in 2024 relative to the broader market, but there has been wide divergence in returns, even among the ‘Magnificent 7’. Fidelity Global Technology portfolio manager Hyun Ho Sohn outlines why tech themes could broaden out beyond recent high profile winners and discusses some of the underappreciated opportunities he sees across the sector.

Chinese equities have recently been marked by elevated volatility, but there are signs of economic stabilisation and green shoots of improving investor sentiment. Having recently completed 10 years at the helm of Fidelity China Special Situations PLC, Dale Nicholls reflects on the key changes he’s seen on the ground through a tumultuous period and outlines why now could be an opportune time to revisit the case for Asia’s largest economy and stock market.

Portfolio manager Talib Sheikh provides an update on recent positioning moves within Fidelity’s multi asset income range, highlighting the increased exposure to developed market equities. He also shines a light on how the investment process has been adjusted to reflect changing economic scenarios.

The conflict in the Middle East is lasting longer than initially hoped. Our base case is for a messy resolution. Tensions are likely to persist for some time, with supply chains disrupted and energy carrying a geopolitical premium.

As conditions look ripe for a period of outperformance in US credit markets, Fidelity US Dollar Bond portfolio manager Rick Patel outlines three catalysts that could trigger the Fed to start cutting interest rates.

More and more companies are falling behind in their efforts to achieve net zero carbon emissions by 2050, according to Fidelity's latest ESG Analyst Survey. But a growing awareness of climate-related risks is reason to believe they will soon ramp up their efforts.

Our Capital Market Assumptions (CMAs) provide return, volatility and correlation forecasts for various asset classes, typically over a strategic ten-year investment horizon. They are calculated using a proprietary model which employs quantitative econometric analysis and incorporates a diverse range of inputs, including bottom-up and top-down insights from across our global investment platform. This provides a robust foundation for our strategic asset allocation processes, which play a key role in investment solution design and portfolio construction.

China’s equity markets have declined further over recent weeks off the back of weak data and a subdued response from policymakers. Marty Dropkin, Head of Equities - Asia Pacific, considers recent moves in the context of China’s broader economic objectives and outlines where our local team are identifying pockets of resilience and innovation, which could reward investors willing to take a long-term view.

Gold has come back into focus as investors are questioning whether bonds can cushion equity drawdowns to the same degree as they have in the past. In this paper, we examine whether and how gold can contribute to portfolio resilience alongside traditional assets, and under what conditions that case strengthens or weakens.

The economy continues to deliver surprises but we are confident of one thing: if US and other developed world interest rates have not peaked already, then they will do so soon. With growth set to stall, Global Head of Macro and Strategic Asset Allocation Salman Ahmed details four potential scenarios for 2024 and the next leg of a business cycle, which has seen the most intense round of monetary tightening in a generation.

A more uncertain and fragmented macro backdrop is changing the way investors think about resilience, diversification and market access., Here, our macro and ETF team examine the key forces shaping markets, including geoeconomic fragmentation, the impact of AI, widening return dispersion, and outline how investors can use ETFs selectively within asset allocations.

Alex Wright, portfolio manager of the Fidelity Special Situations Fund and Fidelity Special Values PLC, shares his outlook for UK equities in 2024. He highlights the unloved areas of the domestic market where he sees potential for recovery and discusses why we could be at the start of a sustained period of outperformance from UK value stocks and sectors.

Against a backdrop of persistent geopolitical tensions, elevated energy prices and shifting market leadership, Asia continues to offer a rich opportunity set, supported by technology leadership, innovation and favourable demographic trends. Here, we highlight the value of a disciplined, fundamentally driven investment approach and explore where we are currently finding opportunities in the region.

Asia remains an attractive market for long-term investors with structural growth across markets, driven by a growing middle class and increasing penetration of consumer products and services. Fidelity Asia Fund portfolio manager Teera Chanpongsang outlines how investors can best position to benefit from the region’s growth story in 2024 and beyond.

In the latest episode of The Investor’s Guide to Asia, fund manager Dale Nicholls shares opportunities that Fidelity analysts helped identify in robotics, China small caps, and rare earths, and how they translated into portfolios.

While the UK macro picture remains challenging, portfolio manager Alex Wright believes investment opportunities are still available for those who know where to look. He reviews recent market movements and highlights how Fidelity Special Situations & Special Values PLC are positioned to capitalise on unloved areas with overlooked potential.

Despite the conflict, there are reasons for investors to be constructive in the months ahead.