Video

The next wave of opportunity is physical

Recent global trends tend to favor capital-intensive sectors.

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What's driving capital toward hard, real-world assets?

Alex Zavratsky, portfolio manager of the Fidelity Advisor International Value Fund and Fidelity Advisor Total International Equity Fund, discusses two powerful long-term investment cycles unfolding right now—and why they may be creating attractive opportunities outside of the U.S.

Key Takeaways

Fidelity’s Alex Zavratsky points to rising global investment in self-reliance across energy, manufacturing, and defense as countries work to secure critical supply chains and capabilities.
He highlights that artificial intelligence is driving demand for physical infrastructure such as specialized equipment, advanced materials, and power systems, much of which is supplied by non-U.S. companies.
He believes these capital-intensive trends are supporting international value stocks, where asset-heavy businesses are benefiting from durable demand and still trade at attractive valuations.

Learn more about Fidelity's international strategies

Fidelity Advisor International Value Fund

Seeks to invest in non-U.S. securities believed to be undervalued based on factors such as assets, sales, earnings, growth potential, or cash flow, in relation to securities of other companies in the same industry.

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Fidelity Advisor Total International Equity Fund

Provides broad exposure to growth, value, and small cap stocks in developed markets and diversified exposure in emerging markets to create a comprehensive "one-stop" international portfolio.

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