Fidelity aims to deliver investment solutions that leverage our global research expertise and local presence in key markets.

We focus on identifying opportunities that offer stable earnings growth through an investment cycle.

The Fidelity Equity Advantage

Our goal is to deliver strong and consistent investment performance to help clients achieve their investment objectives.

UNSURPASSED RESEARCH CAPABILITIES

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Our fundamental-focused 360° research approach allows us to develop a unique understanding of the businesses in which we invest.

We meet with thousands of companies face to face and leverage our global research network to understand their competitors, customers and suppliers.

GLOBALLY INTEGRATED INVESTMENT ORGANIZATION

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Core and opportunistic research provides entrepreneurial and established investment ideas.

Our investment offices span the globe to deliver expertise in local markets.

PORTFOLIO CONSTRUCTION AND PROPRIETARY RISK MANAGEMENT

Proprietary technology integrates research with portfolio construction tools. Risk evaluation informs balance and composition.

Our experienced team of risk management professionals uses proprietary risk management technology and quantitative risk modelling to assess real-time portfolio risks.

A FLEXIBLE AND THOROUGH RESEARCH PROCESS PROVIDES A DIFFERENTIATED VIEW

Idea generation is combined with active management and risk controls to construct portfolios that focus on delivering risk adjusted results.

EQUITY INVESTMENT SOLUTIONS

Canadian Core

Focused on delivering consistent excess returns with a proven and repeatable process
Controls risk by targeting sector exposures similar to those of the S&P/TSX Capped Composite Index
Delivers core Canadian equity exposure while seeking consistently low tracking error and high information ratio

Number of stocks: 80-100

Canadian Systematic

Focused on delivering consistent excess returns through a disciplined investment process informed by both proprietary fundamental and quantitative analysis
Controls relative risk by generally maintaining super sector¹ exposures in line with those of the S&P/TSX Capped Composite Index
Delivers core Canadian equity exposure while seeking a consistently high information ratio

Number of stocks: 40-80

¹ The Standard and Poor’s super sectors are categorized as follows:
   Consumer = Discretionary, Staples, Health Care
   Industrials = Industrials, Information Technology
   Resources = Energy, Materials
   Interest Rate-Sensitive = Financials, Telecommunication Services, Utilities

Canadian Focused

Focused on delivering consistent excess returns with a proven and repeatable process
Uses a bottom‑up, fundamental approach designed to deliver the Canadian equity research team’s best ideas
Investments in individual securities will be conviction-weighted meaning the portfolio may have significantly different exposures than those of the S&P/TSX Capped Composite Index

Number of stocks: 40-80

Canadian Low Volatility

Seeks long‑term growth of capital, primarily through investments in the Canadian equity universe, while maintaining an overall risk profile that is lower than the market
Distinctive and unique approach to low-volatility investing that uses insights from Fidelity’s fundamental research platform
Utilizes quantitative investment tools with aim of maximizing returns while minimizing absolute risk

Target Volatility: 60-80% of S&P/TSX Composite

Number of stocks: Approximately 80

Canadian Equity

Focused on delivering consistent returns by investing in quality companies while limiting downside risk
Selects stocks offering the best risk/reward profile relative to the current market cycle.
Delivers core Canadian equity exposure, holding securities that demonstrate attractive valuations, generate strong cash flows and have solid balance sheets

Number of holdings: 50–100

U.S. Large Cap Core

Offers exposure to a diversified portfolio of U.S. large-cap equities
Aims to provide annualized excess returns relative to the S&P 500 over a full market cycle
Uses a bottom-up, fundamental strategy designed to deliver the best ideas from Fidelity’s extensive research capabilities
Controls risk by generally maintaining sector exposures in line with those of the benchmark

Number of stocks: 75-125

Concentrated U.S.

Seeks to invest in a concentrated portfolio of non-cyclical companies that have the potential to deliver a high return on capital
Actively managed and high-conviction portfolio with a focus on downside mitigation
Uses a bottom-up, fundamental approach designed to deliver the best ideas from Fidelity’s extensive research capabilities

Number of stocks: 30-50

U.S. Small Cap Core

Invests in a diversified portfolio of U.S. small-cap equities
Aims to provide annualized excess returns relative to the Russell 2000 Index over a full market cycle
Constructed to have similar characteristics and sector weights as the benchmark while added value is primarily sought through stock selection

Number of stocks: 150-250

U.S. Small Company

Invests in a diversified portfolio of U.S. small-cap equities with superior growth and financial characteristics that have valuations close to or below market valuations
Aims to provide annualized excess returns relative to the Russell 2000 Index over a full market cycle

Number of stocks: 150-200

Concentrated U.S. Small Cap

Concentrated U.S. small-/mid-cap strategy
Actively managed and high-conviction portfolio
Compelling opportunity for alpha generation with a strong focus on downside protection

Number of stocks: 30-50

U.S. Low Volatility

Seeks long‑term growth of capital, primarily through investments in the U.S. equity universe, while maintaining an overall risk profile that is lower than the market
Distinctive and unique approach to low-volatility investing that uses insights from Fidelity’s fundamental research platform that maintains coverage of over 3,100 companies
Utilizes quantitative investment tools with aim of maximizing returns while minimizing absolute risk

Target Volatility: 60%-80% of S&P 500

Number of stocks: Approximately 150

Select Global

A broadly diversified portfolio that seeks to deliver value-added performance
Investment universe is comprised of stocks in North America, Japan, the U.K., Europe (ex U.K.) and Asia Pacific (ex Japan)
Utilizes a disciplined investment approach that combines qualitative stock selection with quantitative risk control
Long-tenured investment team with uncommon insight into international markets

Number of stocks: 325-425

Select Global Plus

A broadly diversified portfolio that seeks to deliver value-added performance
Investment universe is comprised of stocks in North America, Japan, the U.K., Europe (ex U.K.), Asia Pacific (ex Japan) and emerging markets
Utilizes a disciplined investment approach that combines qualitative stock selection with quantitative risk control
Long-tenured investment team with uncommon insight into international markets

Number of stocks: 400-500

Select Global Small Cap

An active and bottom-up core strategy that combines fundamental stock research with superior risk management
Aims to provide annualized excess returns relative to the S&P Developed Small Cap Index over a full market cycle
Designed around belief that global small-cap is an inefficient and under-covered asset class that offers opportunities to invest in equities at a significant discount to their long-term fundamental fair value
Offers a consistent investment approach - managed by the same portfolio manager since the strategy’s inception in 2007

Number of stocks: Approximately 225

Select Global Small Cap Plus

An active and bottom-up core strategy that combines our fundamental stock research with superior risk management
Aims to provide annualized excess returns relative to the MSCI AC World Small Cap Index over a full market cycle
Designed around belief that global small-cap is an inefficient and under-covered asset class that offers opportunities to invest in global equities at a significant discount to their long-term fundamental fair value
Offers a consistent investment approach- managed by the same portfolio manager since the strategy’s inception in 2008

Number of stocks: Approximately 225

Global Concentrated

An active and bottom-up core strategy that is concentrated and based on high‑conviction investment ideas
“Go anywhere” mandate with broad investment parameters to allow for portfolio flexibility across countries, sectors and industries
Seeks to add value via stock selection in companies with predictable, durable and growing businesses

Number of stocks: Approximately 50

Concentrated Global Small Cap

Concentrated global portfolio that seeks to consistently deliver value-added performance by combining qualitative stock selection with quantitative risk management
Aims to provide annualized excess returns relative to the S&P EPAC Small Cap Index over a full market cycle
Offers a consistent investment approach- managed by the same portfolio management team since the strategy’s inception in 2009

Number of stocks: 60-90

Global Low Volatility

Seeks long‑term growth of capital, primarily through investments in the global developed equity universe, while maintaining an overall risk profile that is lower than the market
Distinctive and unique approach to low-volatility investing that uses insights from Fidelity’s fundamental research platform that maintains coverage of over 3,100 companies
Utilizes quantitative investment tools with aim of maximizing returns while minimizing absolute risk

Target Volatility: 60%-80% of MSCI World ex. Canada

Number of stocks: Approximately 150

Global Special Situation

A flexible and unconstrained global approach that seeks long-term growth opportunities in special situations
Aims to invest in high-quality businesses, undervalued securities and companies undergoing positive change
Highly experienced portfolio manager with 25+ years running global equity portfolios

Number of stocks: 70-110

FIRST All Country World

A high-conviction portfolio that aims to deliver long-term capital growth by investing in equity securities of companies throughout the world
Powered by the full breadth and depth of Fidelity International’s proprietary research network
Rigorous, consistent and repeatable investment process – underpinned by independent risk management and controls
Customizable to specific client requirements and bespoke mandates

Number of stocks: 75-85

FIRST Developed World

A high-conviction portfolio that aims to deliver long-term capital growth by investing in equity securities of companies in the developed world
Powered by the full breadth and depth of Fidelity International’s proprietary research network
Rigorous, consistent and repeatable investment process – underpinned by independent risk management and controls
Customizable to specific client requirements and bespoke mandates

Number of stocks: 75-85

Global Equity Income

Aims to deliver long-term, above-market performance over a business cycle with relatively low volatility
Aims to provide investors with an attractive total return comprised of a healthy and sustainable dividend yield with income growth to protect against inflation
Invests in high-quality companies with stable and/or improving returns on capital at reasonable valuation

Number of stocks: 40-60

Global Focus

A diversified global equity strategy designed to deliver long-term capital growth, with the primary source of outperformance being stock selection
Invests in high-conviction ideas focused on companies with structural growth advantages and sustainable pricing power
Leverages Fidelity’s large team of research analysts and global sector specialists

Number of stocks: 80-120

Select International

A broadly diversified portfolio that seeks to deliver value-added performance through a disciplined investment approach that combines qualitative stock selection with quantitative risk control
Investment universe is comprised of stocks in Japan, the U.K., Europe (ex U.K.) and Asia Pacific (ex Japan)
Offers a consistent investment approach-, managed by the same portfolio manager since the strategy’s inception in 1989

Number of stocks: 200-250

Select International Plus

A broadly diversified portfolio that seeks to deliver value-added performance through a disciplined investment approach that combines qualitative stock selection with quantitative risk control
Investment universe is comprised of stocks in Japan, the U.K., Europe (ex U.K.), Asia Pacific (ex Japan) and emerging markets
Offers a consistent investment approach - the Select international investment process has been implemented in developed markets since 1989 and extended to emerging markets in 2008

Number of stocks: 300-400

International Growth

Invests in large-, medium-, and small-cap companies in Europe, Japan and the Pacific Basin
Investment approach is growth oriented, concentrating on companies with above-average earnings growth and attractive valuations

Select International Small Cap

A broadly diversified portfolio that seeks to deliver value-added performance with a disciplined investment approach that combines qualitative stock selection with quantitative risk control
Aims to provide annualized excess returns relative to the S&P Developed ex US SmallCap Index (Net) over a full market cycle
Designed around belief that international small-cap is an inefficient and under-covered asset class that offers opportunities to invest in international equities at a significant discount to their long-term fundamental fair value

Number of stocks: 150-200

Select International Small Cap Plus

A broadly diversified portfolio that seeks to deliver value-added performance with a disciplined investment approach that combines qualitative stock selection with quantitative risk control
Aims to provide annualized excess returns relative to the MSCI ACWI ex US Small Cap Index over a full market cycle
Designed around belief that international small-cap is an inefficient and under-covered asset class that offers opportunities to invest in international equities at a significant discount to their long-term fundamental fair value

Number of stocks: 175-225

Concentrated International Small Cap

Concentrated portfolio that aims to provide annualized excess returns relative to the S&P EPAC Small Cap Index over a full market cycle
Utilizes a disciplined investment approach that combines qualitative stock selection with quantitative risk control
Offers a consistent investment approach - managed by the same portfolio management team since the strategy’s inception in 2006

Number of stocks: 60-90

International Low Volatility

Seeks long term growth of capital, primarily through investments in international equity securities (ex U.S.), while maintaining an overall risk profile that is lower than the market
Distinctive and unique approach to low-volatility investing that uses insights from Fidelity’s fundamental research platform that maintains coverage of over 3,100 companies
Utilizes quantitative investment tools with aim of maximizing returns while minimizing absolute risk

Target Volatility: 60%-80% of MSCI All Country ex-US Index

Number of stocks: Approximately 150

Select Emerging Markets

Aims to provide excess returns relative to the MSCI Emerging Markets® Index (Net) while maintaining similar fundamental characteristics
Investment universe is comprised of emerging markets equities considered attractive by the analysts
Utilizes a disciplined investment approach that combines qualitative stock selection with quantitative risk control

Number of stocks: 80-125

Emerging Markets All Cap

Aims to provide excess returns relative to the MSCI Emerging Markets IMI Index by investing in high-quality emerging markets equities at discounts to intrinsic value
Typically seeks companies with consistent and self-sustaining cash flow generation, organic growth, strong return on equity and those that are available at reasonable valuations
Utilizes a disciplined and repeatable investment process focused on stock/issue selection based on fundamentals; portfolio construction is based on risk assessment
Leverages a deep, broad and experienced EM research team with both debt and equity coverage

Number of stocks: 50-100

Emerging Markets Small Cap

Seeks to capture investment opportunities by exploiting inefficiencies of the emerging small-cap asset class
Fundamental and proprietary quantitative models form insights across disciplines and identify value where mono-disciplinary approaches may not
Consistent process since inception via a team that offers 16 years of history across all types of investment markets

Number of stocks: Approximately 125

Emerging Markets Focus

Invests in a concentrated portfolio of companies that benefit from solid foundations of robust corporate governance and capital structure, which are may be able to generate attractive returns for shareholders from their existing operations and future investment opportunities
Selected stocks are held for the longer term in order to take best advantage of the growth opportunities they provide
The portfolio is built on an absolute basis from the bottom up with little reference made to the structure of the applicable market index

Number of stocks: 30-50

EAFE Low Volatility

Seeks long‑term capital growth, primarily through investments in the EAFE equity universe, while maintaining an overall risk profile that is lower than the market
Distinctive and unique approach to low-volatility investing that uses insights from Fidelity’s fundamental research platform
Utilizes quantitative investment tools with the aim of maximizing returns while minimizing absolute risk

Target Volatility: 60%-80% MSCI EAFE

Number of stocks: Approximately 150

U.S. Small Cap Core

Invests in a diversified portfolio of U.S. small-cap equities
Aims to provide annualized excess returns relative to the Russell 2000 Index over a full market cycle
Constructed to have similar characteristics and sector weights as the benchmark while added value is primarily sought through stock selection

Number of stocks: 150-250

U.S. Small Company

Invests in a diversified portfolio of U.S. small-cap equities with superior growth and financial characteristics that have valuations close to or below market valuations
Aims to provide annualized excess returns relative to the Russell 2000 Index over a full market cycle

Number of stocks: 150-200

Concentrated U.S. Small Cap

Concentrated U.S. small-/mid-cap strategy
Actively managed and high-conviction portfolio
Compelling opportunity for alpha generation with a strong focus on downside protection

Number of stocks: 30-50

Select Global Small Cap

An active and bottom-up core strategy that combines fundamental stock research with superior risk management
Aims to provide annualized excess returns relative to the S&P Developed Small Cap Index over a full market cycle
Designed around belief that global small-cap is an inefficient and under-covered asset class that offers opportunities to invest in equities at a significant discount to their long-term fundamental fair value
Offers a consistent investment approach - managed by the same portfolio manager since the strategy’s inception in 2007

Number of stocks: Approximately 225

Select Global Small Cap Plus

An active and bottom-up core strategy that combines our fundamental stock research with superior risk management
Aims to provide annualized excess returns relative to the MSCI AC World Small Cap Index over a full market cycle
Designed around belief that global small-cap is an inefficient and under-covered asset class that offers opportunities to invest in global equities at a significant discount to their long-term fundamental fair value
Offers a consistent investment approach- managed by the same portfolio manager since the strategy’s inception in 2008

Number of stocks: Approximately 225

Concentrated Global Small Cap

Concentrated global portfolio that seeks to consistently deliver value-added performance by combining qualitative stock selection with quantitative risk management
Aims to provide annualized excess returns relative to the S&P EPAC Small Cap Index over a full market cycle
Offers a consistent investment approach- managed by the same portfolio management team since the strategy’s inception in 2009

Number of stocks: 60-90

Select International Small Cap

A broadly diversified portfolio that seeks to deliver value-added performance with a disciplined investment approach that combines qualitative stock selection with quantitative risk control
Aims to provide annualized excess returns relative to the S&P Developed ex US SmallCap Index (Net) over a full market cycle
Designed around belief that international small-cap is an inefficient and under-covered asset class that offers opportunities to invest in international equities at a significant discount to their long-term fundamental fair value

Number of stocks: 150-200

Select International Small Cap Plus

A broadly diversified portfolio that seeks to deliver value-added performance with a disciplined investment approach that combines qualitative stock selection with quantitative risk control
Aims to provide annualized excess returns relative to the MSCI ACWI ex US Small Cap Index over a full market cycle
Designed around belief that international small-cap is an inefficient and under-covered asset class that offers opportunities to invest in international equities at a significant discount to their long-term fundamental fair value

Number of stocks: 175-225

Concentrated International Small Cap

Concentrated portfolio that aims to provide annualized excess returns relative to the S&P EPAC Small Cap Index over a full market cycle
Utilizes a disciplined investment approach that combines qualitative stock selection with quantitative risk control
Offers a consistent investment approach - managed by the same portfolio management team since the strategy’s inception in 2006

Number of stocks: 60-90

Emerging Markets Small Cap

Seeks to capture investment opportunities by exploiting inefficiencies of the emerging small-cap asset class
Fundamental and proprietary quantitative models form insights across disciplines and identify value where mono-disciplinary approaches may not
Consistent process since inception via a team that offers 16 years of history across all types of investment markets

Number of stocks: Approximately 125

Canadian Low Volatility

Seeks long‑term growth of capital, primarily through investments in the Canadian equity universe, while maintaining an overall risk profile that is lower than the market
Distinctive and unique approach to low-volatility investing that uses insights from Fidelity’s fundamental research platform
Utilizes quantitative investment tools with aim of maximizing returns while minimizing absolute risk

Target Volatility: 60-80% of S&P/TSX Composite

Number of stocks: Approximately 80

U.S. Low Volatility

Seeks long‑term growth of capital, primarily through investments in the U.S. equity universe, while maintaining an overall risk profile that is lower than the market
Distinctive and unique approach to low-volatility investing that uses insights from Fidelity’s fundamental research platform that maintains coverage of over 3,100 companies
Utilizes quantitative investment tools with aim of maximizing returns while minimizing absolute risk

Target Volatility: 60%-80% of S&P 500

Number of stocks: Approximately 150

Global Low Volatility

Seeks long‑term growth of capital, primarily through investments in the global developed equity universe, while maintaining an overall risk profile that is lower than the market
Distinctive and unique approach to low-volatility investing that uses insights from Fidelity’s fundamental research platform that maintains coverage of over 3,100 companies
Utilizes quantitative investment tools with aim of maximizing returns while minimizing absolute risk

Target Volatility: 60%-80% of MSCI World ex. Canada

Number of stocks: Approximately 150

International Low Volatility

Seeks long term growth of capital, primarily through investments in international equity securities (ex U.S.), while maintaining an overall risk profile that is lower than the market
Distinctive and unique approach to low-volatility investing that uses insights from Fidelity’s fundamental research platform that maintains coverage of over 3,100 companies
Utilizes quantitative investment tools with aim of maximizing returns while minimizing absolute risk

Target Volatility: 60%-80% of MSCI All Country ex-US Index

Number of stocks: Approximately 150

EAFE Low Volatility

Seeks long‑term capital growth, primarily through investments in the EAFE equity universe, while maintaining an overall risk profile that is lower than the market
Distinctive and unique approach to low-volatility investing that uses insights from Fidelity’s fundamental research platform
Utilizes quantitative investment tools with the aim of maximizing returns while minimizing absolute risk

Target Volatility: 60%-80% MSCI EAFE

Number of stocks: Approximately 150

Global Demographics

Looks to invest in a concentrated portfolio of companies that are able to benefit from demographic trends, including ageing, the growth of the middle classes and population growth
Utilizes an unconstrained approach to portfolio construction, with investment based on a company’s merits irrespective of its prominence in the market index
May use derivatives with the aim of risk or cost reduction or to generate additional capital or income, in line with the portfolio’s risk profile.

Number of stocks: 50-70

Eurozone Select Real Estate

Provides investors with real estate exposure across the core Eurozone markets of Germany, France and the Benelux
Aims to deliver superior returns with low volatility by investing in a diversified and high-quality portfolio of properties with strong fundamentals
Unique investment strategy built on the ability to combine bottom-up asset selection with sophisticated analysis of tenant income and market research

U.K. Real Estate

A balanced and sustainable high-quality portfolio with the potential to benefit from rental growth focused in the U.K.
Targets higher-yielding assets and active management opportunities with the aim of providing investors with strong returns
Managed by a senior team with 22 years’ average experience spanning multiple cycles, sectors and geographies

This information is designed to provide an indication of certain attributes of these strategies and is subject to change. For full details of the applicable mandates, including the investment objectives, please contact Fidelity Canada Institutional.

We offer a comprehensive lineup of institutional investment strategies and mutual funds available on all major recordkeeping platforms.

Learn more

MEET THE EQUITY LEADERSHIP TEAM

Pam Holding Co-Head, Equity Division

Pam Holding is co-head of Fidelity Investments’ Equity Division. In this role, she oversees the Value and Income, Small-Cap, International, and Fidelity Institutional Asset Management (FIAM) Equity investment teams as well as the Global Equity Research team.

Before joining Fidelity in 2013, Pam held a number of senior roles at Putnam Investments. She has been in the investments industry since 1986.

Tim Cohen Co-Head, Equity Division

Tim Cohen is co-head of Fidelity Investments’ Equity Division. In this role, he oversees the Growth, Large-Cap Core, Capital Appreciation, and Mid-Cap investment teams, as well as Fidelity’s Equity Trading operations and Global Equity Research teams.

Before assuming this role, Tim held a number of senior roles at Fidelity and managed various diversified equity portfolios. He has been in the financial industry since joining Fidelity as a research analyst in 1996.

Andrew Marchese Chief Investment Officer, Fidelity (Canada) Asset Management

Andrew Marchese is President and Chief Investment Officer at Fidelity (Canada) Asset Management ULC. In this role, he leads a team of portfolio managers and equity research professionals responsible for managing a number of institutional strategies and mutual funds, primarily for the Canadian market.

Mr. Marchese joined Fidelity in 1998 and has played a pivotal role in leading and building out Fidelity’s dedicated Canadian investment team. He has been in the investments industry since 1998.

Romain Boscher Global Chief Investment Officer, Equities, Fidelity International

Romain Boscher joined Fidelity International as Global CIO, Equities, in April 2018. He is responsible for overseeing Fidelity International’s equity franchise and working closely with distribution partners to align investment capabilities with client needs. Romain is a member of the Global Operating Committee.

In his most recent role, Romain was head of equities at Europe’s largest asset manager, Amundi Asset Management. Before that, he was the chief investment officer/deputy chief executive officer for Groupama Asset Management.

Romain has been in the industry for over 25 years.

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Contact the Team

Equities

Fidelity aims to deliver investment solutions that leverage our global research expertise and local presence in key markets.

The Fidelity Equity Advantage

A FLEXIBLE AND THOROUGH RESEARCH PROCESS PROVIDES A DIFFERENTIATED VIEW

EQUITY INVESTMENT SOLUTIONS

MEET THE EQUITY LEADERSHIP TEAM