Managed by HSBC Global Asset Management's quantitative based fixed income team led by Jean-Charles Bertrand, Chief Investment Officer, Quantitative Strategies, the HSBC GIF Global Inflation Linked Bond
fund follows a quantitative management approach to inflation linked bonds
(ILBs) which has been successfully implemented since the team launched its first ILB fund in 2000.
The Post Office Inflation Linked Bond
is actually a deposit with the Bank of Ireland UK.
Since mid-2000's there is availability of long term interest rate measures for Brazil, expressed in long term inflation linked bonds
issued by the Brazilian National Treasury.
On the fixed income front Adia invests in global government bonds, global inflation linked bonds
, emerging market bonds, global investment-grade credit and non-investment-grade credit.
There has been some talk about the Indian government issuing inflation linked bonds
for retail investors.
Inflation linked bonds
offer relative value, in the anticipated environment.
Most of our money this month was actually made in Bonds, Long-Term Treasury and Inflation Linked Bonds
, together with some very strong returns in our Managed Futures holdings, in some cases as much as 7+%.
We find TRY inflation linked bonds
offer the best value, whilst we also believe that duration extension from 5y to 9-10y in nominal bonds also makes sense.Headline inflation surprises on the upside, rising to 7.3%.
A combination of a weaker Namibia dollar, "buoyant" equity markets and inflation linked bonds
have helped the Government Institutions Pension Fund's (GIPF) market value to soar 23.04% to N$61 billion compared to the previous period, the fund said this week.