Nick Tolchard. Head of EMEA, Invesco Fixed Income.
Invesco is pleased to present our third annual Global Fixed Income Study, part of our suite of studies exploring global investment trends, opportunities and challenges.
This uniquely large and in-depth examination of global fixed income investing is based on in-depth interviews with 159 CIOs and asset owners that are together responsible for the fixed income components of portfolios totalling US$20 trillion in AUM1.
These specialists, located across all the major regions of North America, Europe and Asia-Pacific, work across pension funds (both defined benefit and defined contribution), sovereign wealth funds, insurers and wholesale investors including private banks, diversified fund managers, multi-managers, and model builders.
The study2 offers insights into asset allocation decisions, strategies, and methods of implementation, as well as future intentions of investors within the fixed income asset class, and reveals how they were positioned in the leadup to the market turmoil arising from the COVID-19 pandemic.
Our in-depth analysis revealed five key themes:
- Investors were already becoming risk averse
- Fears about the cycle ending led to a liquidity paradox
- Investors started to explore newer strategies
- Interest in emerging market debt grew rapidly
- Use of ESG to enhance fixed income returns
As uncertainty clouds the future, this year’s study equips fixed income professionals with comprehensive and detailed perspectives from their peers around the globe.
1. As at 31 December 2019, Source: Invesco.
2. The interviews were conducted in October and November 2019, before the onset of the COVID-19 crisis.
The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested.