Rayner Spencer Mills Research's Ken Rayner looks back on a year in fixed income markets, and considers what 2015 may hold for bond funds as interest rate rises loom large.
There are various IMA sectors that cover the topic of fixed interest, and we have deliberately moved to a wider focus as we believe any investor in debt assets needs to be aware of the various options available across the asset class. Fixed interest investment continues to be one of the most difficult to manage in terms of duration and asset allocation. The issue for most investors in 2014 has been anticipating the likely path of interest rates over the year. There has recently been a change in investors' expectation of interest rate rises which have been pushed out much further into 201...
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