FI

Fixed income funds

Wellington Management brings market-leading fixed income capabilities to managing more than USD 400 billion in client assets. We offer a broad range of fixed income funds targeting a variety of objectives.

FIXED INCOME OVERVIEW

Our fixed income capabilities span all publicly traded global bond market sectors. Our fixed income funds combine both top-down and bottom-up inputs to identify and exploit fixed income market inefficiencies around the world. Macroeconomic analysts and market strategists identify top-down structural and cyclical risks and opportunities, while our bottom-up, fundamental research approach draws on insights from both fixed income and equity analysts. This balanced perspective, combined with access to the management teams from the companies in which we invest, can help us anticipate changes in issuers’ capital structures before these changes are priced into their securities.

Fixed income funds can help meet a variety of objectives, including generating income, mitigating downside risk, diversifying a portfolio and enhancing returns. We offer funds that pursue each of these objectives.

All investors should consider the risks that may impact their capital, before investing. The value of your investment may become worth more or less than at the time of the original investment.

SPECIALISED EXPERTISE ACROSS SECTORS AND REGIONS

Wellington Management’s fixed income investment professionals — comprising specialist portfolio managers, market strategists, sector experts and more than 40 credit and quantitative analysts — are based in the UK, the US and the Hong Kong. Each portfolio management team is independent and empowered to make investment decisions for the fund it is responsible for. Our fixed income managers draw on Wellington Management’s global resources, which gives them access to diversified sources of return and may help to generate more consistent performance in different market environments.

Focus Funds

DEPTH, EXPERIENCE AND CONTINUITY

Our private partnership structure helps us to attract and retain world-class investment talent and allows us to align their performance incentives with the achievement of our fund investors’ objectives. This has contributed to the depth, experience and continuity of our fixed income investment professionals. Our dedicated fixed income professionals include:

Our investment professionals have exceptional access to company management teams, taking part in more than 10,000 meetings with issuers each year. Our credit analysts collaborate with our in-house equity analysts and with our dedicated environmental, social and corporate governance (ESG) research team, which provides proprietary sector, country and individual issuer assessments. We believe this integration of equity, credit and ESG research generates robust analysis with differentiated insights for our portfolio managers. Our balanced, multidisciplinary perspective can help us anticipate changes in issuers’ capital structures before these changes are priced into their securities.

SOPHISTICATED TOOLS FOR RISK MANAGEMENT AND PORTFOLIO CONSTRUCTION

We use advanced risk-management systems to help portfolio managers take only intended investment risks that have the potential to provide attractive returns for investors. These proprietary systems allow us to monitor concentrations of risk within investment styles and across the firm, while testing how investment positions might behave in challenging markets. We continue to refine these tools, ensuring their relevance amid ever-changing market conditions and continued innovation in new security types.

Emerging markets debt managers can get lost in the trees — it can be hard to see the forest. Our advantage at Wellington Management is being an emerging markets boutique in the midst of all these global resources. If our team was extracted from the firm, we wouldn’t do nearly as well.

Jim Valone, Fixed Income Fund Manager

INSIGHTS

Playing inflation defense with fixed income in 2022
For fixed income investors who are worried about the double threat of higher inflation and rising rates, there are strategies that may help insulate a bond portfolio. Fixed Income Investment Director Amar Reganti and Investment Specialist Jonathan Tan offer up some suggestions.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
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January 2022
Playing inflation defense with fixed income in 2022
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Navigating narrow bond markets: how diversified is your fixed income alpha?
Understanding an active manager’s path and style of alpha generation should be a critical part of anyone’s fixed income manager evaluation process, says Brendan Fludder of our Fundamental Factor Team.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
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January 2022
Navigating narrow bond markets: how diversified is your fixed income alpha?
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High yield: be ready for sideways moves, bouts of volatility in 2022
Our high-yield portfolio managers believe investors should stand ready to dynamically adjust positioning in a year that could see sideways spread moves and plenty of market volatility.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
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January 2022
High yield: be ready for sideways moves, bouts of volatility in 2022
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Impact investing in practice: supporting the shift to alternative energy
In this case study, we explore how our impact team supports the shift to alternative energy while seeking to capture the associated return potential.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
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December 2021
Impact investing in practice: supporting the shift to alternative energy
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2022 Investment Outlook
As you look ahead to 2022, we invite you to explore investable ideas and trends across all major asset classes curated from our marketplace of ideas — more than 900 investors strong.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
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December 2021
2022 Investment Outlook
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2022 Fixed Income Outlook
Our fixed income outlook for 2022, examines our views on inflation and interest rates and the role central banks will play in the coming year.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
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December 2021
2022 Fixed Income Outlook
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Bucking conventional wisdom: Rising rates don’t always mean falling bond returns
With a sustained rise in interest rates in the coming months a distinct possibility as of this writing, Investment Director Amar Reganti and Investment Specialist Jonathan Tan look at some potential impacts on clients' fixed income portfolios.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
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November 2021
Bucking conventional wisdom: Rising rates don’t always mean falling bond returns
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A credit strategy designed for all seasons
Today’s fixed income allocators face a variety of challenges. Against this backdrop, Multi-Asset Strategist Cara Lafond and Investment Directors Amar Reganti, Chris Perret and Andrew Bayerl make the case for having an “all-weather” credit portfolio composed of carefully chosen building blocks.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
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November 2021
A credit strategy designed for all seasons
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All figures are for the Wellington Management Group of companies as at 30 September 2021.

Past performance is no guarantee of future performance and can be misleading. Funds returns are shown net of fees.
Source: Wellington Management

© 2021 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. The Overall Morningstar Rating for a fund is derived from a weighted average of the three, five, and ten year (if applicable) ratings, based on risk-adjusted return. Past performance is no guarantee of future results.

Investment in the funds described on this website carries a substantial degree of risk and places an investor’s capital at risk. The price and value of investments is not guaranteed and can go down as well as up. An investor may not get back the original amount invested and an investor may lose all of their investment. Investment in the funds described on this website is not suitable for all investors. If an investor is in any doubt as to the suitability of an investment in a fund, an investor should consult an independent financial advisor. The information on this website does not constitute, and should not be construed as, investment advice or a recommendation to buy, sell or otherwise transact in any security including, but not limited to, shares in the funds. An investor should only invest in a fund once that investor has carefully read and understood the  offering documents for the relevant fund, which are the relevant prospectus, and Key Investor Information which contain further information on the risks and features of the fund, and the latest financial reports and any other offering documents for the fund which are available on this Website. Unless stated otherwise data is as at previous month end.