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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News
German corporate pension funds tilt towards fixed income amid risk concerns
While continuing to increase their allocations to private markets, drawn by the potential for improved risk-adjusted returns and greater diversification
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Interviews
Fondoposte: New investment strategy, same values
Antonio Nardacci, chairman of Fondoposte, the pension fund for Italian postal workers, speaks to Luigi Serenelli about the fund’s revamped offering, its domestic investments and ESG
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Features
Fixed income, rates, currencies: Questions over US economic policy dominate global concerns
As ever, the US dominates the global economic landscape. While there is still considerable uncertainty around possible tariffs emanating from the US – despite deals struck by the UK, China and Vietnam – the levels are still expected to be markedly lower than those trumpeted on 2 April.
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Features
IPE Quest Expectations Indicator - July 2025
US President Donald Trump remains the main source of global political risk. In recent weeks, he has ramped up pressure on Russia over the ongoing war in Ukraine while the success of his interventions in Israel’s dual conflicts with Hamas and Iran is uncertain.
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Research
IPE institutional market survey: High yield bonds and loans managers 2025
IPE’s 2025 institutional high yield market survey charts an 8.5% drop in high yield managed assets within the European institutional client segment.
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Analysis
Fixed income, rates, currencies: Questions over US economic policy dominate global investor concerns
The likelihood of a full-scale global trade war has decreased, and the outlook for the global economy has improved as a result, but new tariff announcements by the US administration could cause this scenario to change once more
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News
ÄVWL 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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News
Fonchim 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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News
France’s FRR appoints duo for €1.4bn fixed income mandates
AXA Investment Managers and Ostrum Asset Management were selected
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News
Germany’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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News
Basel 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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News
Fondo 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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Features
Chart 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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Features
IPE 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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Features
IPE 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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News
Dutch 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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News
Asset 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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News
Velliv 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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News
Kåpan 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