FBGF's investment philosophy is to provide stable returns by investing in a portfolio balanced between equities and fixed income instruments
Higher interest rates highlighted lucrative investment potential of risk-free fixed income instruments
as opposed to the under-stress equity market.
It seeks to achieve its investment objective by investing primarily in a portfolio of high yield corporate bonds of varying maturities and other fixed income instruments
of predominantly corporate issuers, including first- and second-lien secured loans.
However, fixed income instruments
like fixed deposits sidestep market volatilities and offer guaranteed yield throughout the tenor.
It does not envisage any substantial changes in connection with investments in fixed income instruments
and instruments of the short-term capital market, but depending on the macroeconomic situation, various types of tactical actions can be carried out in the portfolio , subject to the observance of the "Rules on the management of the assets of the Fund," noted SOFAZ.
The analysis shows current indicators of investor holdings in a variety of fixed income instruments
and overlays buying and selling behaviours from the past quarter.
RTBs are fixed income instruments
issued by the government through the Bureau of the Treasury that are available to retail investors.
It pointed out that the third quarter of the fiscal year (FY) 2017/2018 saw investment net inflows of $7bn, up from $500m in Q3 of FY 2016/2017, which supports their vision of a strong opportunity to invest in fixed income instruments
Between 1994 and 2009, the government ministries and municipalities financed their projects through issuing fixed income instruments
(such as certificate of deposits, participation papers) with the guarantee of state banks.
IHS Markit's fixed income pricing service provides independent pricing and liquidity data for fixed income instruments
to support risk management, price verification, compliance and trading workflows.
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