After years of arguably lying dormant relative to their equity counterparts, fixed income funds have returned to the fore as interest rates have risen.

With rates across the developed world starting to fall from highs not previously seen in more than a decade, investors have continued to lock in attractive yields from bond funds. According to the latest Calastone fund flow report published in November 2024, fixed income funds saw their highest inflows since June 2023 while equity funds lagged.

But following Rachel Reeves’ Autumn Budget, and Donald Trump due to begin another term at The White House next year, will inflation stay higher than central banks previously expected? And what does this mean for bond investors?

A word from our editor

Keynote

Frédéric Taché

Head of fixed income, St. James's Place Wealth Management

Frédéric focuses on fund design, fund managers monitoring and fund managers research for the fixed income funds. He has more than 15 years of experience in the investment industry. Before joining SJP in 2019, he worked for several consultancy firms such as bfinance, Riscura and Stamford Associates. Prior to this, Frédéric also worked in investment banking and in asset management.

Panel debate

Dewi John
Head of research
LSEG Lipper

Dewi joined LSEG Lipper as Head of UKI Research in August 2020, having run an investment communications consultancy for the previous six years. Prior to that, he was head of investment communications at Hermes Investment Management in London, and has held a number of communications and product roles in the wealth and asset management sectors, including UBS Wealth Management Research in Zurich. He previously edited a professional investment title at the Financial Times group.

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Nicola Mai
Executive vice-president, analyst
PIMCO

Nicola is an executive vice president in the London office and a sovereign credit analyst in the portfolio management group. He leads sovereign credit research in Europe and is a member of the European portfolio committee. He is responsible for formulating key macro views for the region and for identifying and analysing global macro and investment trends. Prior to joining PIMCO in 2012, he was senior euro area economist at J.P. Morgan for seven years. He started his career as an economist in the UK government, in a program run by HM Treasury. He has 21 years of investment and financial services experience.

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