The Capital Group 2024 Fixed Income Horizons Survey captures the views of 100 UK asset owners, including pension funds, OCIO providers, insurers, endowments and foundations. The quantitative survey was conducted by CoreData Group during February and March 2024. This report also includes insights from a series of in-depth qualitative interviews with senior investment leaders at UK asset owners. The questions were focused on respondents’ asset allocation views and attitudes to different areas of fixed income markets.
While the global macro backdrop is still finely poised, conditions for fixed income investors remain broadly positive.
Central banks remain in “hold” mode on interest rates for now, but have clearly signalled an intent to bring rates down over the next few years.
This may defer some of the upside in bond returns from falling rates – but that should still materialise when the cutting cycle begins. Meanwhile, fixed income yields remain at elevated levels and corporate fundamentals are relatively strong.
Against this backdrop, our survey finds that UK asset owners are undertaking significant rebalancing over the next 12 months, to lock in long-term income, increase diversification and pursue selective return opportunities.
You can now read the full whitepaper at the link below
Supporting documents
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