Brookfield Infrastructure (BIPC, Financial) was another standout in the Fidelity Small Cap Value Fund's Q3 2024 review. The fund, under the management of Gabriela Kelleher, noted that Brookfield's strategic focus on digitalization, decarbonization, and deglobalization positioned it well to benefit from the lower interest rate environment, which is expected to facilitate quicker capital deployment and enhance returns.
"Another standout was Brookfield Infrastructure (+30%), an investment vehicle focused on digitalization, decarbonation and deglobalization. Amid lower rates, Brookfield benefited as the market anticipated the company would be able to more quickly deploy capital and improve its returns." — Fidelity Small Cap Value Fund, Q3 2024 Fund Letter
Read full letter at gurufocus fidelity small cap value fund q3 2024 review 2024 Q3 page.