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.
Key risks
Strategies in focus
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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James McAlevey
Head of Rates and Portfolio Manager, AIMS Fixed Income and Target Return Funds
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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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Paul LaCoursiere
Global Head of ESG Research
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Denis Lehman
Head of Investments, France
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Fixed income views
Electric avenue: EVs and the transformation of autos
13 Aug 2020
In the latest instalment of our editorial series, Link, experts from our infrastructure, credit research and equity teams discuss why efforts to ‘build back better’ as economies recover from COVID-19 could further accelerate investment in electric vehicles and associated infrastructure.
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Education, entrepreneurship and biological age: An interview with Andrew Scott
6 Aug 2020
In part two of our interview with Professor Andrew Scott from London Business School, we look at how policy will shift to take account of people living for longer and how service providers will respond.
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Longevity, policy and technology: An interview with Andrew Scott
6 Aug 2020
Living longer brings enormous opportunities to reshape how we spend our time. But in the first of a two-part interview, Andrew Scott from London Business School explains how advances in longevity and technology have not been matched by innovation in social structures or our approach to financial planning.
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Reality bites: Retailing in a health crisis
5 Aug 2020
In the latest instalment of our editorial series, Link, experts from Aviva Investors’ credit, equities and real asset teams discuss the consequences of COVID-19 on the retail sector and their implications for investors.
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Where can investors put cash to work when rates go negative?
30 Jul 2020
Just when investors thought they couldn’t sink any lower, the economic shock caused by COVID-19 has put further downward pressure on interest rates in developed markets. Caroline Hedges, head of global liquidity portfolio management at Aviva Investors, looks at the impact on money market funds.
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Resilience in credit: All calm for now, but big tests lie in store
17 Jul 2020
For credit investors, resilience is about taking appropriate levels of risk, understanding market dynamics, and identifying companies best prepared for the future. All these qualities could be tested given the wide range of possible outcomes as the world begins to recover from COVID-19.
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Health first: Finding resilience in pharmaceuticals
2 Jul 2020
COVID-19 has led to a new appreciation of the importance of healthcare in ensuring all members of society thrive. So where should investors be looking to find resilience in an industry facing enormous change?
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What do rising US-China tensions mean for global markets?
24 Jun 2020
In the latest instalment of our editorial series, Link, Aviva Investors experts discuss the prospects for financial markets and the world economy in the face of escalating hostilities between the US and China.
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Defined Benefit pensions de-risking: A covenant and investment view
23 Jun 2020
In the midst of the COVID-19 shock, Felix Mantz from Lincoln Pensions and Joachim Sudre from Aviva Investors explore how defined benefit pension schemes should plan their journey towards an end game and adopt a more holistic approach to risk.
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COVID-19: Will credit markets remain open for business?
1 May 2020
While concerns around credit market liquidity have been rising since the global financial crisis, the COVID-19 sell-off has highlighted how fragile liquidity can be during periods of real stress. Colin Purdie discusses the short- and long-term implications for investment grade and high yield credit globally.
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The impact of COVID-19 on global high yield
20 Apr 2020
As an increasing number of companies battle the economic consequences of COVID-19, their ability to service bond payments is coming under intense scrutiny. In this Q&A, Sunita Kara considers whether current high-yield valuations adequately compensate investors for default risk and looks at the broader implications of the pandemic.
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Re-enter the dragon: What China’s recovery from COVID-19 means for emerging markets
7 Apr 2020
As China gradually emerges from lockdown, emerging market debt and equity investors are trying to gauge the impact of the coronavirus pandemic on its economy – and the knock-on effects for other emerging markets.
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COVID-19 and a brief history of emerging market debt drawdowns
2 Apr 2020
The scale and speed of COVID-19’s impact on global financial markets has caused emerging market debt returns to decline at a pace not seen since the global financial crisis. However, history suggests the recovery of the asset class may also turn out to be quick.
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The impact of COVID-19 on private debt
30 Mar 2020
As COVID-19 sweeps across the world, a contraction in global growth is causing an adverse short-term reaction to the economy and financial markets. While the extent of contagion from public markets to private debt remains unclear, transactions with strong downside protection should remain more resilient through the crisis, explains Nikhil Chandra.
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Are investors too complacent about the coronavirus?
21 Feb 2020
In the latest of our editorial series, Link, AIQ brings members of Aviva Investors’ investment strategy, equity and debt teams together to discuss the prospects for financial markets and the world economy in the face of the coronavirus epidemic.
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Broadening global investment-grade horizons
20 Feb 2020
UK investors considering whether to allocate to global investment-grade credit may discover the broader diversification benefits can significantly improve a portfolio’s overall risk dynamics.
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