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What the shake up of the global bonds space means
By Chris Fleming 4
th May 2021 3:50 pm
The past few weeks have seen a considerable shake up of the IA Global Bonds sector. Until recently, this was something of a catch-all entity comprising some 210 strategies investing in a variety of geographies across companies and governments of varying credit quality and applying a plethora of currency hedging options. Given this broad spectrum, advisers could be forgiven for feeling bewildered when trying to navigate the sector.
The IA has taken steps to address this, implementing on the 19 April a wholesale shake-up of the sector, introducing 14 distinct categories for government, investment grade, high yield and mixed bond funds, with sub-categories depending on where bonds are issued along with additional categories for inflation linked and specialist bond funds.
The remaining half of the new sectors include USD Mixed Bond, EUR Mixed Bond, Global Mixed Bond, USD High Yield Bond, EUR High Yield Bond, Global High Yield Bond and a Specialist Bond sector, which is any bond fund that invests at least 80% in bond securities, but does not qualify for any of the other 13 sectors. The new sectors more concisely and accurately separate funds according to their investment strategies. From a fund selectors point of view, this is a positive step forward. The new sectors provide a more useful starting point for uncovering the best funds available in specific areas of fixed income markets, John McTaggart, fund analyst at FE Investments told