The 3 aspects of quality

Marking 25 years at BNY Investments Newton and eight years leading the BNY Mellon Multi-Asset Balanced strategy, Simon Nichols has steered UK and global equities, and multi-asset portfolios through volatile market periods. His accounting roots bring a healthy cynicism to stock selection as part of a long-serving and experienced multi-asset team.

Equity markets have delivered strong returns in recent years, prompting some investors to overlook the role of bonds in a portfolio. But periods of market stress consistently highlight the value of fixed income. When equities decline, bonds have historically helped preserve capital and stabilize portfolio outcomes.

Geopolitical tensions have lifted oil prices, sent U.S. stocks slightly lower and driven flows into the safety of the U.S. dollar, which has strengthened versus peers. While a weaker dollar previously supported international equity outperformance, dollar stabilization now suggests that tailwind is fading, underscoring the importance of diversification across regions and asset classes.

The BNY Mellon Global Credit Fund celebrates 10 years. Adam Whiteley, head of global credit at Insight Investment, reflects on the Fund’s success, key active calls, the case for global credit today and future positioning.