BlueBay's Dowding: Active investors can 'exploit' inefficiencies in bond indices

Active management techniques can exploit "structural flaws" that exist in the composition of fixed income benchmarks and the volume of assets passively tracking such benchmarks to maximise returns for investors, according to BlueBay Asset Management's Mark Dowding.

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Partner Insight: Markets hold steady amid uncertainty

Mike Riddell, portfolio manager of Fidelity Strategic Bond Fund, provides an overview of the macroeconomic environment and outlines his views across the strategy’s main alpha sources. Despite geopolitical tensions and economic concerns, market sentiment remains resilient, with short-lived volatility spikes and credit spreads rallying in recent weeks. Against this backdrop, he highlights why his highest conviction forex position is a short US dollar against a basket of emerging market currencies.

Mike Riddell, portfolio manager of Fidelity Strategic Bond Fund

22 July 2025 • 5 min read