Fixed Income
In-depth reporting on fixed income investing for our pension fund and asset management readers from IPE’s award-winning journalists. Covering credit, emerging market debt, government bonds, high yield bonds, investment grade credit, insurance-linked securities and private debt - plus, fixed income asset class reports
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NewsÄVWL boosts bond exposure, US dollar overweight amid shifting market dynamics
The pension fund for German doctors in Germany’s Westphalia-Lippe region has increased its allocation to directly held bonds by nearly €400m year-on-year
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NewsFonchim picks managers for €2.71bn in mandates
Most asset managers accepting mandate renewals agreed to slight fee reductions, says pension fund
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NewsFrance’s FRR appoints duo for €1.4bn fixed income mandates
AXA Investment Managers and Ostrum Asset Management were selected
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NewsGermany’s BVV lifts fixed income allocation to 65.6% amid strategic shift
The move to bolster fixed income reflects the asset class’s ability to dampen portfolio volatility, says pension fund
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NewsBasel pension fund raises equity, CHF bond allocations for 2025
PKBS is exiting its ILS holdings, reallocating capital to conventional fixed income and domestic real estate
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NewsFondo Telemaco reshapes investment portfolio with new managers for €2.4bn
The appointments are part of a broader shift in the fund’s asset allocation, aimed at increasing equity exposure and simplifying its fixed income structure
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Features
Fixed income, rates, currencies: Fickle US policy shakes global investor confidence
The hugely unpredictable policy announcements from those in charge of the world’s largest developed economy are market events more usually associated with goings-on in a newer EM economy
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FeaturesChart watch: Uncertainty ripples across markets
The trade war unleashed by Trump’s tariffs and the knock-on effects for business confidence and commodities demand are reflected in our latest chart overview
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FeaturesIPE Quest Expectations Indicator - May 2025: US markets lose their wings
Markets have been gyrating wildly with Trump’s on-again-off-again trade wars, but resistance is building
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FeaturesIPE Quest Expectations Indicator - June 2025
At last, we have some clarity about the nature of ‘Trump risk’ – it is about uncertainty and growth. Markets are signalling that the US president’s on-again-off-again policies are a threat to growth and stoking inflation even if his threats are not implemented.
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NewsDutch pension funds reduce investment-grade credit exposure in new DC system
Many funds will no longer add investment-grade corporate bonds to matching portfolios, preferring instead bonds with higher expected returns
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NewsAsset owners throw weight behind bond index aimed at driving decarbonisation
UN pension fund will invest up to $500m using index, which is yet to be launched
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NewsVelliv to shift more equities exposure to Europe, after €500m US sell-off
Denmark’s fifth-largest pension fund targets smaller European firms which don’t depend on exports to US
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NewsKåpan Tjänstepension makes first investment in IFAD sustainable bond
The proceeds of the issuance – SEK900m in total – will be used to finance IFAD’s development projects throughout the world
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NewsSwiss federal railway scheme ups investment in equities while reducing bonds
Last year the pension fund achieved returns of 6.9% and a funding level of 110.8%
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NewsGermany’s historic deal on €500bn fund is a game changer for future growth
CDU/CSU and SPD have agreed on financial package and a reform of the debt brake to invest in infrastructure and revitalise the country’s economy
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FeaturesFixed income, rates, currencies: Markets rocked by Trump’s sweeping tariffs plan
The world’s economy enters a new phase as the US administration escalates towards a global trade war, raising the prospect of a US recession and crashing global financial markets
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Asset Class ReportsLP perspectives: European pension funds on private credit strategies
Two European pension funds detail how they are tapping into the private credit market at a time of exponential growth and heightened volatility
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FeaturesCentral banks and cryptocurrency reserve: set for a breakthrough?
After courting the crypto community during his presidential campaign, Donald Trump issued an executive order in early March to create a US strategic bitcoin reserve, as well as a national digital assets stockpile of tokens other than bitcoin.
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InterviewsEuropean pension funds, APK and Ilmarinen, stay loyal to emerging markets
Despite poor returns and rising geopolitical tensions, pension funds are maintaining some level of exposure to emerging markets – and even anticipate that opportunities will emerge
