Bonds
Pimco, Fidelity Stick With UK Gilt Bets After Market Turmoil
- Some of world’s biggest investors unfazed by week’s turbulence
- Still, UK faces raft of risks, from inflation to anemic growth
Commuters cross Westminster Bridge in London.
Photographer: Jose Sarmento Matos/BloombergThis article is for subscribers only.
Pacific Investment Management Co., Franklin Templeton and Fidelity International are among investors sticking to their bets on UK government bonds after this week’s slump, with some looking to buy more.
Pimco, the world’s biggest bond investor, said it continues to take a positive view of UK debt, while Fidelity portfolio manager Mike Riddell said the retreat appeared to be driven by hedge funds rather than by traditional asset managers. Goldman Sachs Asset Management sees opportunities emerging in short-dated gilts.