Our approach to fixed income investments
Fixed income investing should be thought of in two parts: macro and credit. This is because the macroeconomic trends that influence government bonds and currencies can be quite distinct from issues that arise at a corporate level.
That’s why, our macro fixed income team form part of our broader multi-asset and multi-strategy team.
Similarly, credit investors think at a corporate enterprise level and have much in common with equity analysts and investors. By collaborating closely, our equity and credit teams can obtain a holistic view of the entire capital structure across companies and sectors.
Strategies in focus
Embedding resilience in portfolio construction: Where the value is in credit
Investor resilience has been seriously tested during 2020. Colin Purdie and Josh Lohmeier recently took part in a special report by Institutional Investor, where they explain Aviva Investors’ approach to constructing credit portfolios for all seasons.

Key risks


A talented team of investors

Colin Purdie
Chief Investment Officer, Credit
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Kevin Mathews
Global Head of High Yield
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Liam Spillane
Head of Emerging Market Debt and Portfolio Manager, EM Local Currency
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James Vokins
Head of UK Investment Grade Credit
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Denis Lehman
Head of Investments, France
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For further information, please contact our investment sales team.
Fixed income views

Deficits still matter… just not right now
22 Mar 2021
Deciding when to tighten the purse strings and hike taxes is complex at any time, even more so when the economic fallout from COVID-19 remains unclear. Getting deficits under control will need to happen eventually, but it would be a brave government to pursue that goal in the short term.
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Why it is getting harder to assess value in financial markets
19 Mar 2021
Massive intervention by central banks and governments in recent years has left investors struggling to value financial assets.
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Zero rates: Too much of a good thing?
9 Mar 2021
The inexorable rise in asset prices caused by the seemingly never-ending era of monetary easing is calling into question long-held investment beliefs, as members of our multi-asset & macro and equities teams explain.
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Everybody wants one: Are sustainable bonds the new smartphones?
5 Mar 2021
The COVID-19 pandemic has highlighted the importance and fragility of the natural balance. As governments, companies and investors aim for a just transition, sustainable bonds are being issued at pace in different formats. Is it a fad, and do markets really need so many varieties?
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From crisis comes opportunity: What’s normal now?
2 Mar 2021
Big challenges bring us the opportunity to think differently. Our investment teams reveal what they have learnt from COVID-19, and how they are preparing to face whatever ‘normal’ emerges in a post-pandemic world.
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The COVID Nudge
28 Jan 2021
In these data visualisations, we look at whether COVID-19 will achieve something that millions spent on public health campaigning has failed to do.
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The next frontier
25 Jan 2021
Despite a torrid few months, frontier bond markets still have an important role to play in investors' portfolios.
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Prospect of IMF-led reforms attracts debt investors to Africa
25 Jan 2021
Countries in receipt of IMF support often see rapid economic improvements. But local knowledge is crucial for bond investors chasing the ‘IMF trade’, says Carmen Altenkirch.
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What a carve up! The future of the internet
22 Jan 2021
Commercial and geopolitical forces are threatening to fracture the internet into competing regimes, making it harder for companies to operate across borders and potentially limiting their growth. We explore the implications for investors.
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Investing for impact in private debt to combat climate change
21 Jan 2021
Impact investment strategies will have an important role to play if the green credentials of the world’s stock of real estate is to be transformed, argue Gregor Bamert and Stanley Kwong.
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The path for oil and gas after COVID-19
20 Jan 2021
Post-COVID recovery initiatives from governments are increasingly taking a green path, but the response of oil and gas companies so far runs from denial to complete reinvention. Should they continue pumping oil for as long as they can to avoid destroying capital for investors, or do they need to accelerate efforts to future proof their businesses now?
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Our annual letter to company chairpersons
15 Jan 2021
As part of our engagement efforts, every January we send a letter to the chairs of companies we invest in (and some we don’t, but still want to use our influence with) to set out our stewardship priorities for the year. Here, in full, is our 2021 letter.
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Issuance, support from equities and volatility: The outlook for convertible bonds in 2021
18 Dec 2020
Shawn Mato, convertible bond fund manager, picks three themes that could have a big say in how the asset class performs in 2021.
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Zombie revival, improving fundamentals and monetary policy: The outlook for high yield in 2021
17 Dec 2020
Kevin Mathews, Brent Finck and Sunita Kara, high yield portfolio managers at Aviva Investors, pick out three themes that will shape the asset class in 2021.
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Stimulus, M&A and US politics: The outlook for investment grade credit in 2021
17 Dec 2020
Mike Cho and Jonathan Manning, investment-grade portfolio managers at Aviva Investors, look at the themes that will shape the asset class in 2021.
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Chemical compounds: The good, the bad and the ugly
9 Dec 2020
After decades of secrecy, light is increasingly being shone on the potentially hazardous compounds produced by chemical companies. In the latest instalment of our editorial series, Link, experts from Aviva Investors’ credit, equities and ESG teams discuss the prevalence of chemicals in modern life, and how to balance usefulness and safety.
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