Fixed Income Insight
Five Key Themes for the Second Half of the Year
August 2025
Global markets in 2025 face policy uncertainty and macro volatility. Fixed income offers de-risking potential, while EM local currency debt benefits from US dollar pressure. Private credit faces challenges.
How We Invest
Our Active 360° Fixed Income Approach
We believe our active fixed income approach is key to navigating today's challenging bond market and adding long-term value. Our fixed income investment process combines collective expertise, long-term discipline and risk management to capitalize on changing market dynamics.
The fixed income investment team works closely with the equity and quantitative teams, sharing information and debating ideas. We assess the opportunity set as it changes and position our funds’ holdings, for the long-term, which benefit from durable credit fundamentals and attractive valuations. We take on risk intentionally when we believe we are being compensated appropriately and reduce it when we don’t.