AXA Investment Managers (“AXA IM”) and BNP Paribas Asset Management (“BNPP AM”) are progressively merging and streamlining our legal entities to create a unified structure. During this transition, we will continue to operate two separate websites under a single BNPP AM brand. Learn more

 

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Investing in Fixed Income

We cover a broad spectrum of fixed income strategies to help investors build diverse portfolios that can be more resilient to economic and market shifts.

Why are you seeing a BNP Paribas Asset Management site?

AXA IM and BNPP AM are progressively merging and streamlining our legal entities to create a unified structure. Whilst this is ongoing, we will continue to operate two separate websites both branded BNPP AM. This website will continue to show AXA IM funds and strategies only.

Our approach to fixed income

Fixed income may help preserve capital, generate regular income from coupon payments on fixed rate bonds, and help to offset market fluctuations over time. It can also provide diversification in a portfolio that includes other asset classes, including generally riskier ones, like equities.

Weather economic ups and downs

We've managed fixed income portfolios through economic ups and downs for decades. Our global team of local experts draw on our robust research capabilities and have extensive experience in monitoring risk.

Multi-tiered risk approach

We understand credit, interest rate, inflation, liquidity, and market risks, and we manage against them with the aim of delivering favourable results over the long term.

Backed by research

We use global macroeconomic insights, bottom-up company credit analysis, and an assessment of ESG factors to navigate the increasingly complex fixed income market.

Full spectrum investing

We offer a comprehensive range of strategies spanning the whole spectrum of the fixed income universe across developed and emerging markets, government and corporate debt, and investment grade and high yield markets.

Flagship strategies

We actively manage investments for our clients, with the aim of delivering positive total return or outperforming market benchmarks.

Our full offering

We offer a range of actively managed and passive investments for our clients. Our actively managed strategies aim to delivering positive total return or outperform market benchmarks.
Our offering

We combine deep, local market expertise with top-down, macroeconomic research to create a robust, repeatable investment process that's been tested throughout the credit cycle. Our portfolio managers have access to all this research, and the expertise of our trading and engineering teams, at all times.

Our offering

High yield bonds typically offer investors higher income to compensate for the risk of the lower credit rating and, as such, offer investors a higher risk, higher return option than more traditional fixed income markets. We believe that the key to achieving potential attractive returns within high yield is to compound income and avoid capital loss.

Our offering

Short duration bonds are ideal for conservative investors looking for quicker returns to reinvest. We generally invest in bonds with maturities of five years or less and seek to capture high current income with low overall volatility.

Our offering

We aim to deliver portfolio performance with a low correlation to both interest rate and credit risk. We avoid benchmark allocations – instead, we invest across defined risk buckets and seek returns from a diverse set of fixed income strategies.

Our offering

Over time, rising prices can erode the value of savings and investments. Inflation-linked bonds are fixed income securities designed to limit the impact of inflation on investors’ capital by linking the bond's principal and interest payments to a measure of inflation.

Our offering

Our ETF range encompasses both active and passive fixed income options, including ones with a sustainable approach, to enable you to efficiently broaden your fixed income investment options.

Our offering

We have a diversified and active approach to capturing opportunities in global fixed income, with the aim of outperforming an aggregate benchmark. The strategy is managed by a dedicated team with over 25 years’ experience in aggregate investing, who are supported by specialised, local credit teams.

Our offering

We seek highly rated bonds with the potential to add valuable portfolio diversification. We actively manage the asset allocation according to the investment teams' judgement based on our strong research capabilities, with the aim of generating repeatable performance over the economic cycle.

Our offering

Our Buy and Maintain strategy aims to mitigate downside investment risk through a high level of diversification across sectors, regions, and issuers.

Our offering

Emerging markets are quickly becoming drivers of global growth and are home to some of the world's most innovative companies. Our emerging markets team focuses on income generation, while attempting to mitigate risk, and aim for attractive returns through a conviction-based, long-term investment approach.

Our offering

Increased liquidity in portfolios can help to ride out economic uncertainties. We've run cash portfolios for 25+ years, with rigorous liquidity management as a key priority. We also ensure diversity of issuers, sectors, countries, and maturities.

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    Disclaimer

    BNP Paribas Group's acquisition of AXA Investment Managers was completed on 1 July 2025, and AXA Investment Managers is now part of BNP Paribas Group.

    This website is published by AXA Investment Managers Asia Limited (“AXA IM HK”), an entity licensed by the Securities and Futures Commission of Hong Kong (“SFC”), for general circulation and informational purposes only. It does not constitute investment research or financial analysis relating to transactions in financial instruments, nor does it constitute on the part of BNP Paribas Asset Management or its affiliated companies an offer to buy, sell or enter into any transactions in respect of any investments, products or services, and should not be considered as solicitation or investment, legal, tax or any other advice, a recommendation for an investment strategy or a personalised recommendation to buy or sell securities under any applicable law or regulation. It has been prepared without taking into account the specific personal circumstances, investment objectives, financial situation, investment knowledge or particular needs of any particular person and may be subject to change at any time without notice. Offering may be made only on the basis of the information disclosed in the relevant offering documents. Please consult independent financial or other professional advisers if you are unsure about any information contained herein.

    Due to its simplification, this publication is partial and opinions, estimates and forecasts herein are subjective and subject to change without notice. There is no guarantee such opinions, estimates and forecasts made will come to pass. Actual results of operations and achievements may differ materially. Data, figures, declarations, analysis, predictions and other information in this publication is provided based on our state of knowledge at the time of creation of this publication. Information herein may be obtained from sources believed to be reliable. AXA IM HK has reasonable belief that such information is accurate, complete and up-to-date. To the maximum extent permitted by law, BNP Paribas Asset Management, its affiliates, directors, officers or employees take no responsibility for the data provided by third party, including the accuracy of such data. This material does not contain sufficient information to support an investment decision. References to companies (if any) are for illustrative purposes only and should not be viewed as investment recommendations or solicitations.

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