Has the role of traditional fixed interest managers changed? This paper explores why it remains critical to have fixed interest in portfolios, both as a tool to lock in income and also as a defensive play. It asks “How do fixed interest managers keep pace with investor demand for greater returns, in a world where spreads are tight even in what are considered more risky securities?” Finally, it argues that with the prospect of rising inflation, declining GDP and a new Fed Chairman throwing uncertainty into the mix, perhaps locking in CPI + 4% isn’t a bad thing!

Topics addressed:
- The role of bonds then - on the defence
- The times, they are a changin' ...