Spotlight on fixed income
Built for market cycles, positioned for opportunity
In each update, we will be diving a little deeper into our combined capabilities. In this feature Olivier De Larouzière, Chief Investment Officer and BNPP AM Global Head of Fixed Income – and European CIO of the Year at the 2023 Funds Europe Awards – showcases fixed income.
Strategies built to navigate across market cycles
Our unified range gathers strategies across all major fixed income asset classes, maturities, geographies and approaches. This extensive breadth of expertise enables us to better serve the needs of a wide range of local and international investors across market cycles, and 2026 has been a good illustration of that.
With expectations of rate cuts being pushed further out, inflows have remained strong for our well-established and growing cash management strategies. Across these, we manage circa €180bn of assets held in several major currencies, including EUR, USD and GBP.
Solutions for Investors seeking lower interest rate sensitivity
Moreover, our complementary broad range of short-duration bond strategies – consisting of investment-grade, high-yield, inflation-linked, and emerging-market debt – has continued to attract investors seeking lower sensitivity to interest rate volatility.
Those short-dated bond strategies and our more flexible approaches have been naturally favoured by clients wanting to cope with an increasingly complex market environment, driven by geopolitical tensions, including the Iran conflict, and renewed inflationary pressures.
Well positioned to deal with turbulence and capture opportunities
Our absolute return and total return strategies have historically demonstrated their respective ability to navigate market turbulence by diversifying their sources of return and dynamically adjusting risk exposures/allocations across fixed income asset classes and investment instruments.
Beyond that, combining our two leading franchises in green and sustainable bonds, allows investors to benefit from continued demand for financing environmentally-friendly and cleaner energy projects that support the net-zero transition, while helping reduce geopolitical dependence on oil and gas supplies.
The outcome
Areas of interest
Keeping you informed
How we will keep you informed as we move forward together.
People profiles
Meet the global leadership team.
Product convergence
Our approach to optimising our fund range, starting with simplification and harmonisation from June 2026.
Capabilities overview
An overview of our combined investment offering and the benefits for our clients
Spotlight on fixed income
Olivier De Larouzière, Chief Investment Officer (CIO) and Global Head of Fixed Income showcases our fixed income offer.
Sustainability alignment
How we're aligning our ESG leadership to deliver a full spectrum of sustainability solutions.
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 Australia Ltd (ABN 47 107 346 841 AFSL 273320) (“AXA IM Australia”) and is intended only for professional investors, sophisticated investors and wholesale clients as defined in the Corporations Act 2001 (Cth).
This publication is for informational purposes only and 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 or sell any investments, products or services, and should not be considered as solicitation or investment, legal or tax advice, a recommendation for an investment strategy or a personalized recommendation to buy or sell securities.
Market commentary on the website has been prepared for general informational purposes by the authors, who are part of AXA Investment Managers. This market commentary reflects the views of the authors, and statements in it may differ from the views of others in BNP Paribas Asset Management.
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 forecasts made will come to pass. 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. Whilst every care is taken, no representation or warranty (including liability towards third parties), express or implied, is made as to the accuracy, reliability or completeness of the information contained herein. Reliance upon information in this material is at the sole discretion of the recipient. This material does not contain sufficient information to support an investment decision.
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