The Edit - November 2023

Welcome back to The Edit, our monthly newsletter. In this edition, we look at how the fixed income landscape has shifted since the gilts crisis last year, key differences between the European and US private credit markets, and potential opportunities in Significant Risk Transfer, as well as the workplace of the future.

Also, we’re excited to announce the launch of Ampersand, our new bi-annual thought leadership magazine.

In our latest podcast, Miles Tym, Fund Manager – Public Fixed Income at M&G Investments, discusses how the fixed income landscape has shifted since the fallout of the gilts crisis last year, evaluating where we are today as a new concern permeates financial markets.

Historically seen as a niche asset class, private credit has witnessed exponential growth over the last decade, with this momentum set to continue into the coming years. But how do the private credit markets differ in Europe and the US?

Although SRT transactions entail a high level of risk, they have tended to exhibit lower return volatility than other publicly-traded fixed income assets due to their private nature. Here, we examine why now could be a good moment to consider the asset class.

What might the workplace of the future look like? With growing bifurcation of assets, offices are being reimagined and buildings that are conscious to people’s lives and environmental impact are raising the bar for best-in-class real estate and prime rents.

The value of investments will fluctuate, which will cause prices to fall as well as rise and investors may not get back the original amount they invested. Past performance is not a guide to future performance. The views expressed in this document should not be taken as a recommendation, advice or forecast.

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