In recent weeks, markets have been hit by a triple shock of COVID-19, the break-up of OPEC+, and a liquidity event that resulted in a significant dislocation across asset classes and negatively impact pension scheme funding levels. This has created a repricing of fixed income assets to levels on a par with the global financial crisis, presenting a once-in-a-decade opportunity for fixed income investors.
By quarter end, the sell-off had produced some compelling investment opportunities right across the developed market credit spectrum, with risk compensation reaching levels not seen in years. And whilst markets have staged a partial recovery, the credit landscape remains rich in terms of potential investment opportunity.
Turning to emerging markets, this dislocation has created attractive valuations in select areas of the fixed income markets. As fundamentals and market liquidity begin to stabilise, we believe it is vital for long-term investors to look at both the asset-allocation return potential in emerging markets as a whole, and also at the individual opportunities that this market dislocation has created.
We would like to extend an invite you and your scheme CIO to join an interactive session where we will discuss the impact of COVID-19 on fixed income markets, what this means for pension schemes and investors and the unique opportunities available.
Co Head Multi Asset Growth
Head of Developed Market Credit
Portfolio Manager, Emerging Market Debt
We reserve the right to decline registrations in line with our policy.