For professional and institutional investors only –not to be further circulated. In Switzerland for qualified
investors only. In Australia for wholesale clients only.

abrdn – fixed income
August 2024

Key stats£133bn140+

Fixed income assets
under management

Credit and macro professionals

500+

ESG engagements per year

As at December 2023.

Who we are

What we offer
Credit confidence across market cycles

Leader in global credit– public and private

Specialist in emerging
markets, sustainability
and insurance

Access to specialist strategies

An outcomes-driven approach
A proven partner for our clientsabrdn combines multi-cycle experience, global capabilities, and an outcomes-focused approach to effectively harness
the entire fixed income universe, addressing investors’ real-world needs.

“Global fixed income markets have become so diverse - from the growth inprivate credit to the evolution of sustainable bonds. We’re here to help clients
access a wide range of opportunities, enabling them to find the right solution
for achieving their goals.”
Craig MacDonald
Head of Fixed Income, abrdn

abrdn.com

Why abrdn for fixed income?
Credit confidence across market cycles
We’ve been investing in bonds for almost 200 years, giving us the experience to navigate every stage of themarket cycle.
By understanding the trends that shape risks and opportunities, we strive to deliver long-term portfolio
performance, allowing clients to remain invested with confidence.
Access to specialist strategies
With more than 140 fixed income professionals in Europe, the US and Asia, we can offer specialist fixed incomestrategies that other asset managers may not.
That includes managing over £35 billion in emerging market and high-yield debt, private credit and sustainablebonds. Helping clients to optimise opportunity wherever it lies.
An outcomes-driven approach
We partner with pensions funds, insurers and other clients to harness fixed income to target their
specific objectives.
We leverage abrdn’s collective expertise across markets and asset classes to power portfolio management
and empower clients’ decision-making process.

abrdn’s credit capability - proven ability to add value
Specialist active credit manager with an an insurance heritage

Global team-based
decision-making

Proven investment
philosophy and process

ESG integration - valueenhancing insights. Our 140+ Global Fixed
Income team members,
including those managing
credit mandates, benefit
from a truly global
research platform. Our dual approach to. Detailed bottom-up
research helps build arobust understanding of
the underlying company toidentify inefficiencies and mispriced credit risk
. Customising portfolio risk:. ESG factors can be financiallymaterial and our ESG risk
rating is embedded withincredit research. Over 500 ESG engagements

portfolio management
and research allows for
efficient integration of idea
generation into our portfolios. Collaboration with wider
abrdn asset class teams
brings a 360 review to ourunderlying assets

allows us to adjust exposures
to macroeconomic andgeopolitical factors. Risk models providing insights
into active risk positioning

with companies per year
provide forward looking insight. ESG toolkit includes carbon
footprint, climate scenario
analysis, rating models,thematic research andquantitative data to give us aswide a picture as possible

Source: abrdn, 30 June 2023.

Fixed Income2

On the ground across emerging markets
We maintain local fixed income teams across emerging markets. They provide deep local insight and a global
perspective to help us find and compare opportunities across public and private credit, investment grade andhigh-yield markets.
EM assets

EM research

$61bn
$44bn

80+

countries

1,000+

5in EM equity

companies1$17bn

in EMD

12
3

History of Investing

30100+

6investment professionals1

3050+

years
in EMD

231

company meetings1

EM resources
4yearsEM equityyears inEM corporates

2,000

dedicated EMD resources
1. Shanghai

2. Hong Kong

3. Bangkok

4. Singapore

5. London

6. Sao Paulo²

18

EM corporate specialists

Across both debt and equity.

Source: abrdn, December 2023.
2

Across only equity.

Source: abrdn, December 2023.

Dedicated to sustainable investing
We integrate ESG factors where possible in our fixed income investment process. This gives us a more complete view ofeach issuer and the risks or opportunities they present. By actively engaging with companies on ESG issues, we ultimately
look to foster companies that will contribute positively to the world.

Use multiple tools to assess ESG
risks and opportunities

Rate issuers on theirenvironmental and sustainability
approach

Offer dedicated sustainable fixedincome strategies

Fixed Income

Hold over 500 ESG engagementsa year with issuers to drive bestpractice

Focus on understanding the ESG
risk and opportunities to makebetter investment decisions

3

Our range of ESG tools

CompanyscoresThematic
research

Climate& carbon
analysis

Fixed income
ESG risk rating

External
dataCompany
engagement
meetings

Sharedresearch
platforms

abrdn’s Fixed Income capabilities
Money Markets(£39bn)

Government Bonds(£18bn)Money Market

Developed Market and Global Credit (£54bn)

Private Credit(£9bn)

Emerging Marketsand Asia (£14bn)

Global High Yield

Commercial Real
Estate Debt

Hard Currency

Strategic Bond

Euro High Yield

Infrastructure Debt

CorporateEuroMulti Sector Credit

High Yield
Municipals

Private Placements
Debt

BlendedUS Credit

Climate Transition

Syndicated Loans

Frontier

US Municipals

Short Dated
Enhanced Income

Fund Finance

Local Currency

Macro Fixed
IncomeMulti Sector

Total Return

Investment GradeCredit & Aggregate

Fixed IncomeSolutions

High Yield

Global Gov’t Bond

GlobalGlobal Income
BondUltra ShortDuration

Euro Gov’t Bond

Sterling

Taxable,Tax-exempt

Sterling Gov’t Bond

Global,Regional

Global Inflation
Linked Bond

Asia Fixed Income
Single Country(India, China)
Source: abrdn Investemets, 31 December 2023.
Some assets have been double counted and therefore will not sum to total. The above strategies are provided to illustrate our range of capabilities only and may not be available in all
jurisdictions.

Fixed Income4Important Information
Investment involves risk. The value of investments, and the income from them, can go down as well as up and an investor may
get back less than the amount invested. Past performance is not a guide to future results.
The information contained in this document is of a general nature on the activities carried out by the entities listed below.
This information is therefore only indicative and does not constitute any form of contractual agreement, nor is it to beconsidered as an offer or solicitation to deal in any financial instruments or engage in any investment service or activity.
No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly
as a result of the reader, any person or group of persons acting on any information, opinion or estimate contained in thisdocument. Please note that some of the investments referenced in this publication are not authorised for distribution in allof those jurisdictions in which we operate. For further information, please speak to your usual contact or visit our website
abrdn.com.
Risks of investing:
Fixed Income: Fixed income securities are subject to certain risks including, but not limited to: interest rate, credit,prepayment, and extension. Diversification does not necessarily ensure a return or protect against a loss. This is not acomplete list or explanation of the risks involved and investors should read the relevant offering documents and consult
with their own advisors prior to investing.
This communication constitutes marketing, and is available in the following countries/regions and issued by the respective
abrdn group members detailed below. abrdn group comprises abrdn plc and its subsidiaries:(entities as at 14 June 2024)
United Kingdom (UK)abrdn Investment Management Limited registered in Scotland (SC123321) at 1 George Street, Edinburgh EH2 2LL.
Authorised and regulated in the UK by the Financial Conduct Authority.
Europe1, Middle East and Africa
In EU/EEA for Professional Investors, in Switzerland for Qualified Investors - not authorised for distribution to retailinvestors in these regions.
1Belgium, Cyprus, Denmark, Finland, France, Greece, Iceland, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal,
Spain, and Sweden: Produced by abrdn Investment Management Limited which is registered in Scotland (SC123321)
at 1 George Street, Edinburgh EH2 2LL and authorised and regulated by the Financial Conduct Authority in the UK.
Unless otherwise indicated, this content refers only to the market views, analysis and investment capabilities of theforegoing entity as at the date of publication. Issued by abrdn Investments Ireland Limited. Registered in Republicof Ireland (Company No.621721) at 2 -4 Merrion Row, Dublin D02 WP23. Regulated by the Central Bank of Ireland.
Austria, Germany: abrdn Investment Management Limited registered in Scotland (SC123321) at 1 George Street,Edinburgh EH2 2LL. Authorised and regulated by the Financial Conduct Authority in the UK. Switzerland: abrdn
Investments Switzerland AG. Registered in Switzerland (CHE-114.943.983) at Schweizergasse 14, 8001 Zürich. Abu Dhabi
Global Market (“ADGM”): abrdn Investments Middle East Limited, Cloud Suite 205, 15th floor, Al Sarab Tower, Abu Dhabi
Global Market Square, Al Maryah Island, P.O. Box 764605, Abu Dhabi, United Arab Emirates. Regulated by the ADGM
Financial Services Regulatory Authority. For Professional Clients and Market Counterparties only. South Africa: abrdn
Investments Limited (“abrdnIL”). Registered in Scotland (SC108419) at 1 George Street, Edinburgh EH2 2LL. abrdnIL is nota registered Financial Service Provider and is exempt from the Financial Advisory And Intermediary Services Act, 2002.
abrdnIL operates in South Africa under an exemption granted by the Financial Sector Conduct Authority (FSCA FAIS Notice 3 of 2022) and can render financial services to the classes of clients specified therein.
Asia-Pacific
Australia and New Zealand: abrdn Oceania Pty Ltd (ABN 35 666 571 268) is a Corporate Authorised Representative (CARNo. 001304153) of AFSL Holders MSC Advisory Pty Ltd, ACN 607 459 441, AFSL No. 480649 and Melbourne Securities
Corporation Limited, ACN 160 326 545, AFSL No. 428289. In New Zealand, this material is provided for information
purposes only. It is intended only for wholesale investors as d efined in the Financial Markets Conduct Act (New Zealand).
Hong Kong: abrdn Hong Kong Limited. This material has not been reviewed by the Securities and Futures Commission.
Japan: abrdn Japan Limited Financial Instruments Firm: Kanto Local Finance Bureau (Kinsho) No.320 Membership: Japan
Investment Advisers Association, The Investment Trusts Association, Type II Financial Instruments Firms Association.
Malaysia: abrdn Malaysia Sdn Bhd, Company Number: 200501013266 (690313-D). This material has not been reviewed
by the Securities Commission of Malaysia. Thailand: Aberdeen Asset Management (Thailand) Limited. Singapore: abrdn
Asia Limited, Registration Number 199105448E.

Fixed Income5

Americas
Brazil: abrdn Brasil Investimentos Ltda. is an entity duly registered with the Comissão de Valores Mobiliários (CVM) as
an investment manager. Canada: abrdn is the registered marketing name in Canada for the following entities: abrdnCanada Limited, abrdn Inc, abrdn Investments Luxembourg S.A., and abrdn Alternative Funds Limited. abrdn Canada
Limited is registered as a Portfolio Manager and Exempt Market Dealer in all provinces and territories of Canada as wellas an Investment Fund Manager in the provinces of Ontario, Quebec, and Newfoundland and Labrador. United States:
abrdn is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Ltd.,
abrdn Asia Limited.

For more information visit abrdn.com
GB-061022-181827-5

abrdn.com

STA0824026048-001