Fixed income

Index-linked gilts

This actively managed strategy seeks to deliver returns above the UK market benchmark through a deep understanding of relative valuations across the index-linked gilt yield curve. The UK is unique in the quality and diversity of its inflation-linked government bond market.

Our approach seeks to take advantage of market anomalies to create a reliable and consistent source of performance. We believe the market is routinely driven from fair value by supply and demand factors, from issuance and redemptions to investor maturity preferences and risk appetite. A patient investor can use these situations to acquire attractively priced assets, as over the medium term the impact of these short-term factors recedes and assets move towards fair value.

We have a long heritage in investing in public debt and company-wide we manage more than £40bn of government bonds. Our experienced government bond team is fully integrated into, and has the ability to draw on, the expertise of our full public fixed income business.

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