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Global Watch |
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Global Watch is a monthly publication providing insight into world markets and trends.
This month's Global Watch includes: Over a barrel? Entering 2008, oil made headlines by trading at an all-time high of $100 per barrel1. Since then, it has powered on repeatedly to many record highs, hovering recently at over $145 per barrel in June1. The price of crude has become a daily barometer for stock market sentiment as it fuels inflationary fears around the world, threatening to dampen the already weak assumptions for global growth. What is driving these extraordinary oil prices? Is it a short-term blip that will pass soon enough, just as it did in the 1970s? Or are structural changes forcing a fundamental shift in the trend? Fidelity Multi Asset Strategic Fund In an environment of economic and market uncertainty, the arguments for holding a diversified portfolio of assets are stronger than ever. Fidelity's Multi Asset Strategic Fund offers diversification across five asset classes: equities, bonds, property, commodities and cash. Portfolio Manager Trevor Greetham uses his “Investment Clock” model to add value through tactical asset allocation between those asset classes, linking the structure of the fund to the economic cycle. In this interview, Trevor highlights his investment approach and how it has led to the Fund delivering top quartile returns in the Cautious Managed Sector over the last six months, one year and since launch. Fidelity South East Asia Fund “Moving into the second half of 2008, I am optimistic that Asian markets could outperform global equities, due to superior corporate performance and healthy growth in domestic consumption and infrastructure spending. I strongly believe that the uncertain market environment is conducive to my bottom-up stock picking approach for the longer term. I’m finding compelling investment opportunities Fidelity American Special Situations Fund “I am becoming more positive in my outlook for US stocks, with the low interest rate environment, some interesting yield curve plays and US exporters continuing to benefit from dollar weakness. However, there are some major differences in prospects at a sector level and good stock picking presents the best opportunity to profit while markets remain volatile.” |
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Economic and market highlights :
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