Roy Keenan: Defensiveness returns

Fixed income remains a cornerstone for portfolio defence, especially in uncertain markets.

5 Sep 2025

Roy Keenan, Co-Head of Fixed Income, sits down with host Laura Dew for the Relative Return podcast to unpack the evolving dynamics of the fixed income asset class and explain what the shifting landscape means for investors today.

In this compelling episode of Relative Return, host Laura Dew and Roy Keenan (Co-Head of Fixed Income) unpack the evolving dynamics of fixed income as an asset class and cover:

Defensive Strength: why fixed income remains a cornerstone for portfolio defence, especially in uncertain markets.
Global Volatility: how political events—such as those triggered by US President Donald Trump—have influenced market behaviour.
Chasing Yield: with interest rates on the decline, what the “chase for yield” mentality means for risk and return.
AT1 Securities Transition: the impact of moving away from AT1 securities and what it means for fixed income strategies.
Private Credit Expansion: how the rise of private credit funds is tightening credit spreads and reshaping the investment landscape.