Waverton's Carter: Safe haven credentials will return to fixed income in 2023

Investors had been questioning the place of fixed income in multi-asset portfolios in recent years, particularly after an incredibly poor 2022 when bond prices fell, yield was scarce and the inverse correlation between bonds and equities broke down. Carter, who manages fixed income portfolios totalling over £1.3bn, had been underweight bonds after years of a painful grind upwards in yield terms, but is now seeing several factors leading to a very bullish backdrop for the asset class. "Having gone through the immense difficulty of fixed income over the last year, the silver lining of t...