Working closely with our strategists and economists, our specialist macro team invest across a range of developed market government bonds. Our institutional heritage makes us well placed to meet a wide variety of complex and bespoke client needs, such as hedging and liability-matching.
For further information on the risks and risk profiles of our funds, please refer to the relevant KIID and Prospectus.
Head of Emerging Market Debt and Portfolio Manager, EM Local Currency
Head of Credit and Equity Investment Specialists
Head of Liability Driven Investment and Liquidity
Portfolio Manager, Liability Driven Investment
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Fixed income views
Boom! Shake the gloom? Does China’s reopening mark a new beginning?
29 Mar 2023
China looks set for a rapid economic rebound in the first quarter after finally abandoning its zero-COVID policy. But will the recovery prove temporary as longer-term dynamics reassert themselves?
The investment implications of peak fossil fuels
24 Mar 2023
Energy analyst Kingsmill Bond considers if peak fossil-fuel consumption has been reached and whether investors appreciate the implications.
Climate adaptation and resilience: Preparing for a warmer, wilder world
22 Mar 2023
Millions of hours have been spent negotiating net-zero targets, but many human-led climate impacts are already locked in. Our credit and equities portfolio managers explain where they see opportunities in solutions providers that will help society adapt for the new reality.
All change: Positioning for a new market regime and climate action in IG credit
17 Mar 2023
Justine Vroman and Tom Chinery discuss the opportunities in investment-grade credit to drive climate action.
China, the Fed and fiscal buffers: What next for emerging-market debt
13 Mar 2023
While uncertainty around the US rate-hiking cycle is affecting appetite for emerging-market debt, discerning investors can still find attractive opportunities in 2023, say Aaron Grehan and Carmen Altenkirch.
Gas versus renewables: Does natural gas have a future?
8 Mar 2023
The war in Ukraine has thrown up huge uncertainties around the role of gas in the energy system. Experts from our credit, ESG and real assets teams discuss the implications for traditional energy and renewables companies.
What does the data say? Three charts multi-asset investors should know about
6 Mar 2023
We take a visual approach to explain what’s happening with bonds, equities and oil.
Bank securities: Unloved, but why?
16 Feb 2023
Oliver Judd and Betty Sanchez Torres argue that despite a recovery in prices, banking sector securities continue to offer value so long as a deeper recession is avoided.
Why fixed income, why now? Navigating a new era for bond markets
31 Jan 2023
Despite ongoing market volatility and geopolitical uncertainty, 2023 could bring attractive opportunities for fixed-income investors, says Barney Goodchild.
Higher for longer: A new era for fixed income
26 Jan 2023
James Vokins and Chris Higham from our credit team believe the path of inflation will remain the central question for investors in 2023. Fixed-income investors should remain cautious until that path is more certain, but fundamental analysis can still uncover attractive opportunities.
EMD outlook: Why 2023 could offer improved prospects as storm clouds lift
10 Jan 2023
After a bruising 12 months, our emerging-market debt team anticipates an improvement in the asset class’ fortunes in 2023 as declining inflation allows central banks to ease back on monetary tightening. But with many issuers still at risk of default, investors will need to tread cautiously.
Focus on the fundamentals: The outlook for high yield in 2023
3 Jan 2023
Macroeconomic forces have been key drivers of performance in the global high-yield market in recent months, but 2023 is likely to bring a renewed focus on issuer fundamentals, say Sunita Kara and Brent Finck.
Inflation, yield curves and energy prices: The outlook for buy-and-maintain credit
30 Nov 2022
Siddhartha Bhattacharyya, Iain Forrester and Matthew Raque from our buy-and-maintain credit team discuss the impact of the current environment on portfolios, where they are finding value, and how they are integrating these considerations in their net-zero plans.
Nothing happened, twice: Addressing the key questions on recent volatility for sterling money market fund investors
10 Nov 2022
After the volatility that rocked UK markets in recent weeks, Alastair Sewell reflects on how this impacted money market funds and what’s next.
The IMF/World Bank meetings in review: The key questions for emerging-market debt investors
2 Nov 2022
Pessimism was in the air at the recent IMF/World Bank meetings, with emerging markets looking vulnerable to a tightening of global financial conditions. However, their orthodox policy responses should put many countries in a stronger position to meet those challenges than previously, argue Carmen Altenkirch and Nafez Zouk.
A free lunch: The case for a diversified global sovereign bond allocation
31 Oct 2022
Recent events in the UK are a reminder of the benefit of a globally diversified sovereign bond allocation and avoiding home bias, as Jennie Byun, Kurt Knowlson and Steve Ryder explain.