Our approach
As the asset management business of one of the UK’s largest insurers, fixed income is in our DNA. Our experience spans across fixed income, from developed to emerging markets, investment grade to high yield and liquidity strategies. In addition to pooled strategies, we offer bespoke solutions to cater to individual client needs.
Our insurance heritage makes us a natural partner for clients looking for consistent returns and enhanced capital preservation through market cycles.
Fundamentally driven
Investment ideas are driven by in-depth research across regions and sectors, supported by multi-disciplinary teams across asset classes to deliver robust client outcomes.
Robust portfolio construction
We believe a disciplined portfolio construction process can be an independent source of alpha.
Actions that unlock value
We seek to enhance long-term value creation by incorporating ESG considerations* and engaging with organisations to inform investment decisions and drive positive change.
*The investment manager always applies the Firm’s Baseline Exclusions Policy and any specific constraints within a prospectus or IMA, but any other ESG factors or risk considerations are adopted at the manager’s discretion.
Potential benefits
Focused portfolios
Aggregating firm-wide expertise to gain a holistic picture of the issuers we invest in.
Resilient risk-adjusted returns
Active management of risk can help generate smoother returns and alpha uncorrelated to the benchmark
Building in responsibility
The investment approach aims to future proof portfolios against by assessing sustainability risks alongside other risk factors.*
Our fixed income capabilities
Key risks
Investment risk
The value of an investment and any income from it can go down as well as up and can fluctuate in response to changes in currency and exchange rates. Investors may not get back the original amount invested.
Credit risk
Bond values are affected by changes in interest rates and the bond issuer's creditworthiness. Bonds that offer the potential for a higher income typically have a greater risk of default.
Fixed income team
![](http://static.aviva.io/content/dam/aviva-investors/main/assets/about/our-people/c/caroline-hedges-3625.$16x9-mobile-lg-4cols$.jpg?$16x9-mobile-lg-4cols$)
Caroline Hedges
Global Head of Credit
![](http://static.aviva.io/content/dam/aviva-investors/main/assets/about/our-people/l/liam-spillane.$16x9-mobile-lg-4cols$.jpg?$16x9-mobile-lg-4cols$)
Liam Spillane
Head of Emerging Market Debt and Portfolio Manager, EM Local Currency
![](http://static.aviva.io/content/dam/aviva-investors/main/assets/about/our-people/i/iain-forrester.$16x9-mobile-lg-4cols$.jpg?$16x9-mobile-lg-4cols$)
Iain Forrester
Head of Global Buy-and-Maintain Credit
![](http://static.aviva.io/content/dam/aviva-investors/main/assets/about/our-people/r/rakesh-girdharlal.$16x9-mobile-lg-4cols$.jpg?$16x9-mobile-lg-4cols$)
Rakesh Girdharlal
Head of Liability Driven Investment and Liquidity
![](http://static.aviva.io/content/dam/aviva-investors/main/assets/about/our-people/b/brent-finck-7492.$16x9-mobile-lg-4cols$.jpg?$16x9-mobile-lg-4cols$)
Brent Finck
Global Co-Head of High Yield
![](http://static.aviva.io/content/dam/aviva-investors/main/assets/about/our-people/s/sunita-kara.$16x9-mobile-lg-4cols$.jpg?$16x9-mobile-lg-4cols$)
Sunita Kara
Global Co-Head of High Yield
![](http://static.aviva.io/content/dam/aviva-investors/main/assets/about/our-people/o/oliver-judd.$16x9-mobile-lg-4cols$.jpg?$16x9-mobile-lg-4cols$)
Oliver Judd
Co-Head of Global Credit Research
![](http://static.aviva.io/content/dam/aviva-investors/main/assets/about/our-people/profile.$16x9-mobile-lg-4cols$.jpg?$16x9-mobile-lg-4cols$)
Kevin Gaydos
Co-Head of Global Credit Research
![](http://static.aviva.io/content/dam/aviva-investors/main/assets/about/our-people/e/edward-hutchings.$16x9-mobile-lg-4cols$.jpg?$16x9-mobile-lg-4cols$)
Edward Hutchings
Head of Rates
![](http://static.aviva.io/content/dam/aviva-investors/main/assets/about/our-people/b/barney-goodchild-800-rrd.$16x9-mobile-lg-4cols$.jpg?$16x9-mobile-lg-4cols$)
Barney Goodchild
Head of Credit and Equity Investment Specialists
Fixed income views
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Bond Voyage: A journey into fixed income
10 Jun 2024
This month, we discuss fiscal discipline in emerging markets, investment-grade credit portfolio construction, potential opportunities for sovereign investors in Canada and the merits of a developed-market focus in global high yield.
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Emerging-market debt turns the corner: The EM investment universe grows amid improved resilience
21 May 2024
Emerging-market debt analyst Carmen Altenkirch reports back from the recent International Monetary Fund (IMF)/World Bank meetings in Washington.
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See the wood, not just the trees: How climate-focused credit investors can help drive real-world change
14 May 2024
Green bond funds and Paris-aligned benchmarks are aimed at climate-focused credit investors who also want the simplicity of passive investing. But while they decarbonise portfolios, they exclude the companies in the real economy that need to transition if the world is to meet the Paris Agreement goals. This is why an active approach can be beneficial.
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Bond Voyage: A journey into fixed income
13 May 2024
This month, we discuss Spring meetings, the path for rates and sustainability-linked bonds.
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Bond Voyage: A journey into fixed income
9 Apr 2024
In the April edition of our monthly series, we explore the latest developments in fixed-income markets.
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Bond Voyage: A journey into fixed income
11 Mar 2024
In the latest instalment of our monthly series, our investment-grade, high-yield, emerging-market and global sovereign bond teams explore the key talking points in fixed income.
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Too hot, too cold, or just right? The outlook for investment-grade credit
21 Feb 2024
Investment-grade credit has had an encouraging start to 2024 – but are these really “Goldilocks” conditions for the asset class? In their latest Q&A, James Vokins and Chris Higham from our credit team discuss opportunities and risks in this market.
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Credit spreads and climate solutions: The outlook for climate-focused bond investors
8 Feb 2024
For the first time in three years, interest rates should no longer be a headwind for credit markets in 2024, but other forms of uncertainty may affect climate-aware bond investors. Our credit experts discuss the key themes they expect to play out over the coming months.
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Bond Voyage: A journey into fixed income
7 Feb 2024
In the latest instalment of our monthly series, our investment-grade, high-yield, emerging-market and global sovereign bond teams look ahead to the key themes that are likely to shape fixed-income markets in 2024.
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The tide turns: The outlook for fixed income in 2024
31 Jan 2024
After a challenging period for fixed-income markets, conditions look to be right for a better year in bonds.
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Bond Voyage: A journey into fixed income
12 Jan 2024
In this new year instalment of our monthly series, our investment-grade, high-yield, emerging-market and global sovereign bond teams share their fixed-income resolutions.
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Rates, regulation and the dash for cash: The outlook for liquidity investors in 2024
10 Jan 2024
Alastair Sewell answers the seven key questions on the minds of liquidity investors heading into 2024.
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Bond Voyage: A journey into fixed income
12 Dec 2023
In this festive instalment of our monthly series, our investment-grade, high-yield, emerging-market and global sovereign bond teams share their thoughts on key topics from across the fixed-income universe.
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Another brick in the (maturity) wall: The outlook for global high yield
7 Dec 2023
The high-yield market is adjusting to a higher-for-longer interest rate environment, and some issuers may struggle to refinance due to rising borrowing costs. But there should be opportunities for discerning investors in 2024.
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From cash rich to cash strapped? Why the US consumer boom could run out of road
24 Nov 2023
Our investment teams explain why buoyant US consumer spending will have to weaken eventually. That could pose problems for debt-laden consumer-facing companies.
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Bond Voyage: A journey into fixed income
10 Nov 2023
In the latest instalment of our new monthly series, our investment-grade, high-yield, emerging-market and global sovereign bond teams share their thoughts on key topics from across the fixed-income universe.
Need more information?
For further information, please contact our investment sales team.