Act now on LIBOR transition: IA's stark warning to FTSE 350 bosses

The Investment Association (IA) has told FTSE 350 firms still issuing LIBOR-linked sterling bonds "time is running out" and urged them to transition to an alternative reference rate or risk "significant market disruption and harm to investors".

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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