AI is reshaping business faster than most investors realise, and Fidelity is on the front line.

In this episode, Lukasz de Pourbaix speaks with Sam Heithersay and Sue Lyn Stubbs, who share rare, first-hand insights from over 30 ASX boardroom conversations. They unpack where companies are truly at on AI adoption, the gap between hype and reality, and how governance is emerging as the critical signal for long-term winners. A must-listen for investors navigating the next phase of AI.

We’d love to hear from you! Email us at PodcastsAustralia@fil.com with suggestions for episodes or guests. For more information on Fidelity visit fidelity.com.au.

Read our full disclaimer. This episode was recorded 2 June 2026.

AI is reshaping business faster than most investors realise, and Fidelity is on the front line.
In this episode, Lukasz de Pourbaix speaks with Sam Heithersay and Sue Lyn Stubbs, who share rare, first-hand insights from over 30 ASX boardroom conversations. They unpack where companies are truly at on AI adoption, the gap between hype and reality, and how governance is emerging as the critical signal for long-term winners. A must-listen for investors navigating the next phase of AI.
We&rsquo;d love to hear from you! Email us at PodcastsAustralia@fil.com&nbsp;with suggestions for episodes or guests. For more information on Fidelity visit&nbsp;fidelity.com.au.
<a href="https://www.fidelity.com.au/disclaimers/fidelity-sound-bites-podcast-disclaimer/">Read our full disclaimer</a>. This episode was recorded 2 June 2026.

Your direct connection to some of Fidelity Australia's leading portfolio managers. Listen in every month as they tell you what’s on their mind when it comes to markets and, their portfolios, as well as special topical bonus episodes.

Fidelity Sound Bites

Inside AI: What 30+ ASX boardrooms reveal

Asia’s returns are being driven by a narrow group of semiconductor giants at the centre of the global AI boom raising real questions around concentration, valuation and what investors are actually getting. In this episode Lukasz and Fidelity Investment Director for Asian equity, Gary Monaghan unpack whether the momentum in AI-linked tech is sustainable, and what happens if expectations start to run ahead of earnings.

Also covered:
We explore how rising oil prices are shaping the outlook across Asia, with different impacts across key markets including India, China and ASEAN. We also discuss the implications of extreme market concentration for diversification, where investors may find overlooked opportunities beyond tech, particularly in under-owned areas like China, and why identifying companies with genuine pricing power is critical in a higher-cost environment.

 

Learn more about the Fidelity Asia Fund

We’d love to hear from you! Email us at PodcastsAustralia@fil.com with suggestions for episodes or guests. For more information on Fidelity visit fidelity.com.au.

Read our full disclaimer. This episode was recorded 4 June 2026.

See omnystudio.com/listener for privacy information.

Asia&rsquo;s returns are being driven by a narrow group of semiconductor giants at the centre of the global AI boom raising real questions around concentration, valuation and what investors are actually getting. In this episode Lukasz and Fidelity Investment Director for Asian equity, Gary Monaghan unpack whether the momentum in AI-linked tech is sustainable, and what happens if expectations start to run ahead of earnings.
Also covered: We explore how rising oil prices are shaping the outlook across Asia, with different impacts across key markets including India, China and ASEAN. We also discuss the implications of extreme market concentration for diversification, where investors may find overlooked opportunities beyond tech, particularly in under-owned areas like China, and why identifying companies with genuine pricing power is critical in a higher-cost environment.
&nbsp;
Learn more about the&nbsp;<a href="https://www.fidelity.com.au/funds/fidelity-asia-fund/?utm_medium=podcast&amp;utm_source=soundbites&amp;utm_campaign=AU_2026_ISS-Wholesale_Awareness_Asset-Class-equity&amp;utm_content=English_audio_na_show-notes-asia-fund-tech" data-saferedirecturl="https://www.google.com/url?q=https://www.fidelity.com.au/funds/fidelity-asia-active-etf/?utm_medium%3Dpodcast%26utm_source%3Dsoundbites%26utm_campaign%3DAU_2025_ISS-End-Investor_Awareness_Asset-Class-ETF_Traffic_ETFs%26utm_content%3DEnglish_audio_na_show-notes-asia-fund-liquidity&amp;source=gmail&amp;ust=1752717797534000&amp;usg=AOvVaw1-LqMJYZQjaVRXFEnanfBV">Fidelity Asia Fund</a>
We&rsquo;d love to hear from you! Email us at <a href="mailto:PodcastsAustralia@fil.com">PodcastsAustralia@fil.com</a>&nbsp;with suggestions for episodes or guests. For more information on Fidelity visit&nbsp;<a href="http://fidelity.com.au/" data-saferedirecturl="https://www.google.com/url?q=http://fidelity.com.au&amp;source=gmail&amp;ust=1752717797534000&amp;usg=AOvVaw1pHfHcy-183lgwCCkn2Xm3">fidelity.com.au</a>.
<a href="https://www.fidelity.com.au/disclaimers/fidelity-sound-bites-podcast-disclaimer/" data-saferedirecturl="https://www.google.com/url?q=https://www.fidelity.com.au/disclaimers/fidelity-sound-bites-podcast-disclaimer/&amp;source=gmail&amp;ust=1752717797534000&amp;usg=AOvVaw0VtO7oUKPLL7k2SVNezIQD">Read our full disclaimer.</a> This episode was recorded 4 June 2026.
See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.

Asia’s tech trade: Powered by a few, missed by many

Diversification has long relied on bonds offsetting equity risk. That relationship is proving less reliable, with recent shocks exposing how quickly correlations can move together.

These periods tend to emerge when inflation is more volatile, as it is today. At the same time, markets are being driven by a different force, an investment-led cycle tied to AI and infrastructure, which is supporting earnings despite the noise.

In this episode, Matt Quaife sits down with Lukasz to discuss why diversification is behaving differently, what this means for portfolio construction, and why these periods are among the most challenging, but also the most important, for long-term outcomes.

Topics covered:
The market impact of the Iran conflict and energy shock
Why bonds and equities are moving together
What’s driving the current investment-led cycle
How to think about diversification in a higher inflation world
Where opportunities are emerging across regions and sectors
Portfolio construction when correlations break down

For more information on Fidelity visit fidelity.com.au.
Read our full disclaimer. This episode was recorded 19 May 2026

Diversification has long relied on bonds offsetting equity risk. That relationship is proving less reliable, with recent shocks exposing how quickly correlations can move together.
These periods tend to emerge when inflation is more volatile, as it is today. At the same time, markets are being driven by a different force, an investment-led cycle tied to AI and infrastructure, which is supporting earnings despite the noise.
In this episode, Matt Quaife sits down with Lukasz to discuss why diversification is behaving differently, what this means for portfolio construction, and why these periods are among the most challenging, but also the most important, for long-term outcomes.
Topics covered:
<ul>
<li>The market impact of the Iran conflict and energy shock</li>
<li>Why bonds and equities are moving together</li>
<li>What&rsquo;s driving the current investment-led cycle</li>
<li>How to think about diversification in a higher inflation world</li>
<li>Where opportunities are emerging across regions and sectors</li>
<li>Portfolio construction when correlations break down</li>
</ul>
For more information on Fidelity visit <a href="http://fidelity.com.au/">fidelity.com.au</a>. <a href="https://www.fidelity.com.au/disclaimers/fidelity-sound-bites-podcast-disclaimer/">Read our full disclaimer.</a> This episode was recorded 19 May 2026

Diversification hasn’t disappeared. It’s evolving.

Quality hasn’t failed. It’s cyclical. Over the past 40 years, quality investing has delivered strong long‑term outcomes, yet it has underperformed roughly a third of the time. The current episode stands out: nearly two years in length and around 30% of relative underperformance.

History shows quality tends to lag during ‘melt‑ups’, early‑cycle recoveries and strongly risk‑on environments, the very conditions markets have experienced amid AI optimism, capex booms and improving growth indicators. Are we at the end of the underperformance cycle, or is there further to go?

In this month’s podcast, Maroun Younes, Co-Portfolio Manager for the Fidelity Global Future Leaders Fund sits down with Lukasz to explore why quality strategies fall behind at certain points in the cycle, how unusual the current drawdown really is and why periods like this are often the most behaviourally challenging but also the most consequential.

Learn more about how we uncover these insights with our Research Advantage.

For more information on Fidelity visit fidelity.com.au.
Read our full disclaimer. This episode was recorded 16 April 2026

Quality hasn&rsquo;t failed. It&rsquo;s cyclical. Over the past 40 years, quality investing has delivered strong long‑term outcomes, yet it has underperformed roughly a third of the time. The current episode stands out: nearly two years in length and around 30% of relative underperformance.
History shows quality tends to lag during &lsquo;melt‑ups&rsquo;, early‑cycle recoveries and strongly risk‑on environments, the very conditions markets have experienced amid AI optimism, capex booms and improving growth indicators. Are we at the end of the underperformance cycle, or is there further to go?
In this month&rsquo;s podcast, Maroun Younes, Co-Portfolio Manager for the Fidelity Global Future Leaders Fund sits down with Lukasz to explore why quality strategies fall behind at certain points in the cycle, how unusual the current drawdown really is and why periods like this are often the most behaviourally challenging but also the most consequential.
Learn more about how we uncover these insights with our <a href="https://www.fidelity.com.au/campaigns/research-advantage/">Research Advantage.</a>
For more information on Fidelity visit <a href="http://fidelity.com.au/">fidelity.com.au</a>. <a href="https://www.fidelity.com.au/disclaimers/fidelity-sound-bites-podcast-disclaimer/">Read our full disclaimer.</a> This episode was recorded 16 April 2026

Inside AI: What 30+ ASX boardrooms reveal

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