Key Takeaways
- • Fidelity Investments Canada launched the Fidelity Global Opportunities Long/Short Fund and corresponding ETF series on January 29, 2026, expanding its alternative investment offerings beyond North America with a research-driven strategy.
- • The fund is managed by portfolio managers Max Adelson and Nicolas Bellemare and employs a globally diversified long/short strategy leveraging Fidelity's proprietary research network across geographical regions, sectors, and market capitalizations.
- • The fund structure combines long positions in undervalued securities with short positions in overvalued stocks, designed to provide portfolio flexibility and adapt to changing market conditions driven by shifting political environments and interest rate volatility.
- • Fidelity has established a pattern of research-focused alternative investment offerings since launching its first alternative fund in 2020, with the majority of products excluding performance fees to align incentives with investor returns.
- • The new offering addresses institutional and sophisticated investor demand for global diversification and market-neutral strategies as traditional correlations and geopolitical uncertainty increase.
Summary
Fidelity Investments Canada introduced the Fidelity Global Opportunities Long/Short Fund and ETF series on January 29, 2026, marking an expansion of the firm's alternative investment product line. The launch reflects institutional investor demand for flexible, research-driven strategies capable of navigating volatile market conditions shaped by shifting political environments, interest rate changes, and macroeconomic uncertainty. The fund targets sophisticated investors seeking exposure beyond North American markets while maintaining the ability to capitalize on both undervalued and overvalued securities.
The fund employs a long/short equity strategy managed by portfolio managers Max Adelson and Nicolas Bellemare, both of whom developed their expertise through Fidelity's internal analyst program. The strategy leverages Fidelity's global proprietary research network to identify investment opportunities across geographical regions, market capitalizations, and sectors. The dual-positioning approach—holding long positions in securities believed to be undervalued while short-selling overvalued stocks—enables the fund to maintain exposure to equity markets while reducing directional market risk. This structural flexibility allows portfolio managers to adapt allocations across full market cycles, from bull to bear environments.
Fidelity's commitment to alternative investment expansion began in 2020 with its first alternative fund launch and continues through this 2026 offering. The firm has deliberately maintained a research-driven investment philosophy across its alternative suite while notably avoiding performance fee structures that many hedge funds employ. This fee transparency aligns portfolio manager incentives with investor outcomes and differentiates Fidelity's approach in a competitive alternative management landscape. The new fund and ETF series address a structural gap in Canadian institutional portfolios seeking global diversification, particularly as traditional correlations between asset classes shift and geopolitical complexity increases investor demand for strategies capable of navigating multiple market regimes.
The fund employs a long/short equity strategy managed by portfolio managers Max Adelson and Nicolas Bellemare, both of whom developed their expertise through Fidelity's internal analyst program. The strategy leverages Fidelity's global proprietary research network to identify investment opportunities across geographical regions, market capitalizations, and sectors. The dual-positioning approach—holding long positions in securities believed to be undervalued while short-selling overvalued stocks—enables the fund to maintain exposure to equity markets while reducing directional market risk. This structural flexibility allows portfolio managers to adapt allocations across full market cycles, from bull to bear environments.
Fidelity's commitment to alternative investment expansion began in 2020 with its first alternative fund launch and continues through this 2026 offering. The firm has deliberately maintained a research-driven investment philosophy across its alternative suite while notably avoiding performance fee structures that many hedge funds employ. This fee transparency aligns portfolio manager incentives with investor outcomes and differentiates Fidelity's approach in a competitive alternative management landscape. The new fund and ETF series address a structural gap in Canadian institutional portfolios seeking global diversification, particularly as traditional correlations between asset classes shift and geopolitical complexity increases investor demand for strategies capable of navigating multiple market regimes.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.