EN - Report (page 2) - Flipbook - Page 11
Performance of bond markets
As would be expected against a backdrop of higher inflation and
increasingly hawkish central banks, bonds had a flat to negative
period in performance terms. Once again, index-linked bonds was
the strongest sub-sector, an area where we increased exposure at
attractive valuations in 2020.
Bond returns Q4 2021
4%
3.1%
3%
2%
1%
0.0%
0.1%
0.0%
0%
-0.5%
-1%
Emerging Market Debt
Inflation Linked Debt
Developed Country
Investment Grade
Developed Country
Developed Country Govt
High Yield
Source: Morningstar, 31.12.21
Liontrust Multi-Asset Portfolio Services Quarterly Report: Q4 2021 - 11