'Return to normality' for multi-asset fixed income allocations

The outbreak of the war of Ukraine heralded a major macro-economic reset with the re-emergence of inflation and central banks rapidly raising rates bringing more than a decade of ultra-low interest rates to an abrupt end. For multi-asset managers, this rapid change of direction with both higher interest rates and inflation looking likely persist mean many are re-evaluating the part fixed income assets can play in their portfolios. The traditional role for fixed income in multi-asset funds is to act as diversifier and provide protection when equity markets fall. Invesco multi asset fun...