Fixed income as a growth asset: Unlocking long-term returns

Perspectives from a leading fixed income specialist

Please subscribe for the latest Insight Perspectives from Insight Investment.

Fixed income as a growth asset: Unlocking long-term returns

Fixed income has the potential to become a growth engine within investors portfolios. With reinvestment, active management, and global diversification, fixed income is no longer just a source of diversification. We explore the role of fixed income as a growth asset in our new paper: https://www.insightinvestment.com/uk/perspectives/fixed-income-as-a-growth-asset/

Why high yield issuers call their bonds early

Some issuers redeem their high yield bonds before final maturity. The earlier they redeem, the higher the price that needs to be paid to investors. So, why are issuers prepared to pay a premium to call their issues early? We explain here: https://www.insightinvestment.com/uk/perspectives/why-high-yield-issuers-call-their-bonds-early/

The case for US municipal bonds

Resilient credit fundamentals and spreads to rival investment grade corporates - the US municipal bond market is a high-quality option for fixed income portfolios. Read more to find out why we believe US municipal bonds offer a credible alternative to US Treasuries: https://www.insightinvestment.com/uk/perspectives/the-case-for-us-municipal--bonds/

Our latest Global Macro Research

Fiscal fault lines: A global review of sovereign fiscal health

How does sovereign fiscal health compare worldwide? Our Global Macro Research paper provides a rigorous assessment of fiscal sustainability – a new defining risk for long-dated bonds. We distinguish between those on sustainable and unsustainable fiscal paths to highlight how rising risk premia are increasingly being priced into markets. Discover the investment implications in our paper: Fiscal fault lines: https://www.insightinvestment.com/uk/perspectives/global-macro-research-hub/gmr-hub/fiscal-fault-lines-a-global-review-of-sovereign-fiscal-health/

Global Macro Research: Le Déluge - France remains on a downward path

French Prime Minister François Bayrou called a confidence vote on 8 September 2025. Gareth Colesmith, Insight’s Head of Global Macro Research, considers the implications for investors in our Global Macro Research article: https://www.insightinvestment.com/uk/perspectives/global-macro-research-hub/gmr-hub/le-deluge-france-remains-on-a-downward-path/

Global trade in chains: Tariff revenues

The U.S. is facing persistent deficits and rising debt-to-GDP ratios. Will its new tariff revenues meaningfully contribute to budget discipline? Explore the policy context and trade dynamics shaping this debate: https://www.insightinvestment.com/uk/perspectives/global-macro-research-hub/gmr-hub/global-macro-research-global-trade-in-chains-tariff-revenues/

Insight in the press

Why the UK must push forward with reforms to unlock more pension fund capital

The government's decision to encourage the release of surplus capital from defined benefit pension funds could unlock £160 billion for the benefit of sponsors, members and the UK economy. But for this to occur, pension scheme trustees want peace of mind that even in an extreme, unlikely scenario, there is meaningful protection for their members, explains Jos Vermeulen, head of solution design at Insight, in an article for Financial News. He highlights a clear, compelling way to provide this reassurance: an increase in protection offered by the Pension Protection Fund (PPF). "Given the robust financial health of most of these schemes, the strength of their corporate sponsors, and the large reserves of the PPF, a much higher level of protection from the PPF that applies across the UK’s DB schemes is not only feasible — it’s affordable." Click here to read the article: https://www.fnlondon.com/articles/why-the-uk-must-push-forward-with-reforms-to-unlock-more-pension-fund-capital-5067a48b?mod=homepage (subscription required)

PPF scraps levy as UK Pension Schemes Bill progresses

The UK’s Pension Protection Fund (PPF) will not charge a conventional levy in 2025/26, reducing costs for defined benefit (DB) pension funds and their sponsoring employers by a total of £45m (€51.6m). The move reflects expectations that the government will grant the lifeboat fund greater flexibility over the levy through the Pension Schemes Bill, which is progressing through parliament.

…Jos Vermeulen, head of solution design said the announcement was “no huge surprise” given the PPF’s surplus. However, he argued that having a levy close to zero could “easily allow the government to go half a step further and increase the level of scheme protection to 100%”, which would be a “huge comfort” to trustees weighing surplus release. He added that this could also support the Gilt market, ease pressure on the UK’s public finances, and channel pension assets into long-term infrastructure and growth initiatives.

Click here to read the article: https://www.ipe.com/news/ppf-scraps-levy-as-uk-pension-schemes-bill-progresses/10132768.article

Capital at risk. For professional investors only.

Enjoyed this newsletter?

Want to subscribe to receive similar content?

Insight Investment's Terms & Conditions