Global

Both based in London

Markets have benefitted from a co-ordinated global recovery, led by central banks operating in a synchronised manner.

Managers not meeting investors' expectations

Could result in significant amount of disruption for markets

Rise in anti-globalisation sentiment

Half of new issuance this year will come from Asia

Aimed at investors 'willing to accept' greater risk

The global financial crisis, and the related policy response, is drawing to a close. We are currently enjoying a short period of synchronised global growth and improving trade.

Unwinding of deflation risks more worrying

Difficulty in finding attractively priced bonds