China Insurance Industry: Use of Fund: Fixed Income: Bond data was reported at 12,566.073 RMB bn in Dec 2023. This records an increase from the previous number of 11,954.217 RMB bn for Sep 2023. China Insurance Industry: Use of Fund: Fixed Income: Bond data is updated quarterly, averaging 4,123.529 RMB bn from Dec 2004 (Median) to Dec 2023, with 62 observations. The data reached an all-time high of 12,566.073 RMB bn in Dec 2023 and a record low of 428.442 RMB bn in Dec 2004. China Insurance Industry: Use of Fund: Fixed Income: Bond data remains active status in CEIC and is reported by National Financial Regulatory Administration. The data is categorized under China Premium Database’s Insurance Sector – Table CN.RGH: Insurance Industry Use of Fund(Non Independent Account).

Sovereign bonds of advanced economies accounted for the majority of sovereign wealth fund China Investment Corporation's (CIC) fixed-income investments as of 2020. These bonds accounted for ** percent of the total investments in fixed income. Corporate bonds followed, with ** percent.

China Banks' WMP: Yield Index: Fixed Income Product data was reported at 108.779 Dec2021=100 in Mar 2025. This records an increase from the previous number of 108.573 Dec2021=100 for Feb 2025. China Banks' WMP: Yield Index: Fixed Income Product data is updated monthly, averaging 104.290 Dec2021=100 from Dec 2021 (Median) to Mar 2025, with 40 observations. The data reached an all-time high of 108.779 Dec2021=100 in Mar 2025 and a record low of 100.000 Dec2021=100 in Dec 2021. China Banks' WMP: Yield Index: Fixed Income Product data remains active status in CEIC and is reported by Puyi Standard. The data is categorized under China Premium Database’s Financial Market – Table CN.ZAM: Banks' Wealth Management Product: Index Series.

The yield on China 10Y Bond Yield held steady at 1.76% on October 16, 2025. Over the past month, the yield has fallen by 0.12 points and is 0.34 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. China 10-Year Government Bond Yield - values, historical data, forecasts and news - updated on October of 2025.

China Banks' WMP: Investment Income: Fixed Income Product: Short Term: Over Past 6 Month data was reported at 1.110 % in Mar 2025. This records an increase from the previous number of 1.060 % for Feb 2025. China Banks' WMP: Investment Income: Fixed Income Product: Short Term: Over Past 6 Month data is updated monthly, averaging 1.220 % from Jan 2024 (Median) to Mar 2025, with 15 observations. The data reached an all-time high of 1.430 % in May 2024 and a record low of 1.060 % in Feb 2025. China Banks' WMP: Investment Income: Fixed Income Product: Short Term: Over Past 6 Month data remains active status in CEIC and is reported by Puyi Standard. The data is categorized under China Premium Database’s Financial Market – Table CN.ZAM: Banks' Wealth Management Product: Index Series.

China WMWMP: New Issuance Close-end: Fixed Income Product data was reported at 2,161.000 Unit in Mar 2025. This records an increase from the previous number of 1,740.000 Unit for Feb 2025. China WMWMP: New Issuance Close-end: Fixed Income Product data is updated monthly, averaging 1,974.500 Unit from Aug 2022 (Median) to Mar 2025, with 32 observations. The data reached an all-time high of 2,533.000 Unit in Mar 2023 and a record low of 1,406.000 Unit in Oct 2022. China WMWMP: New Issuance Close-end: Fixed Income Product data remains active status in CEIC and is reported by Puyi Standard. The data is categorized under China Premium Database’s Financial Market – Table CN.ZAM: Puyi Standard: New Issuance: Whole Market Wealth Management Product.

Explore CCDC, China's central securities depository managing government bonds, enterprise bonds, and inter-bank bond market settlements.

China Insurance Industry: Investment Income: Year to Date: Fixed Income data was reported at 216.439 RMB bn in Sep 2016. This records an increase from the previous number of 142.892 RMB bn for Jun 2016. China Insurance Industry: Investment Income: Year to Date: Fixed Income data is updated quarterly, averaging 144.202 RMB bn from Jun 2009 (Median) to Sep 2016, with 6 observations. The data reached an all-time high of 231.923 RMB bn in Dec 2012 and a record low of 56.080 RMB bn in Jun 2009. China Insurance Industry: Investment Income: Year to Date: Fixed Income data remains active status in CEIC and is reported by National Financial Regulatory Administration. The data is categorized under China Premium Database’s Insurance Sector – Table CN.RGH: Insurance Industry Investment.

Fixed Income Asset Management Market Outlook

The global fixed income asset management market size was valued at approximately USD 5.7 trillion in 2023 and is projected to grow to USD 9.3 trillion by 2032, expanding at a compound annual growth rate (CAGR) of 5.5% over the forecast period. The growth of this market is primarily driven by the increasing demand for stable and predictable returns in an uncertain economic environment.

One of the significant growth factors for the fixed income asset management market is the aging global population. As more individuals approach retirement age, the demand for fixed income investments that offer stable returns and lower risk compared to equities is increasing. Retirees and near-retirees often prioritize capital preservation and income generation, which fixed income products are well-suited to provide. This demographic trend is particularly prominent in developed countries but is also becoming more relevant in emerging markets as their populations age and accumulate wealth.

Another crucial growth driver is the rising interest rate environment. As central banks around the world shift towards tightening monetary policies to combat inflation, interest rates are gradually increasing. Higher interest rates make newly issued bonds more attractive to investors due to their higher yields. This situation creates opportunities for fixed income asset managers to attract new investments and cater to clients looking for better returns in a higher interest rate environment. Additionally, higher yields can enhance the overall performance of fixed income portfolios, making them more appealing to both institutional and retail investors.

The increasing complexity and diversity of fixed income products is also contributing to market growth. The fixed income market has evolved to include a wide range of instruments beyond traditional government and corporate bonds. Products such as mortgage-backed securities, municipal bonds, and various structured financial instruments offer different risk-return profiles and investment opportunities. This diversification allows asset managers to tailor portfolios to meet specific client needs and preferences, thereby attracting a broader investor base. The development of innovative fixed income products continues to drive growth in this market by expanding the range of investment options available.

In the realm of private equity, the PE Fund Management Fee plays a crucial role in shaping the investment landscape. These fees are typically charged by fund managers to cover the operational costs of managing the fund, including research, administration, and portfolio management. The structure of these fees can vary, often comprising a management fee based on the committed capital and a performance fee tied to the fund's returns. Understanding the intricacies of these fees is essential for investors, as they can significantly impact the net returns on their investments. As private equity continues to grow as an asset class, the transparency and justification of management fees are becoming increasingly important to investors seeking to maximize their returns while ensuring alignment of interests with fund managers.

From a regional perspective, North America remains the largest market for fixed income asset management, driven by the presence of a well-established financial industry, a large pool of institutional investors, and a high level of individual wealth. However, the Asia Pacific region is expected to exhibit the highest growth rate during the forecast period. Rapid economic growth, increasing financial literacy, and a burgeoning middle class are driving demand for fixed income investments in countries such as China and India. Additionally, regulatory reforms aimed at developing local bond markets and attracting foreign investment are further propelling the market in this region.

Asset Type Analysis

The fixed income asset management market can be categorized by asset type into government bonds, corporate bonds, municipal bonds, mortgage-backed securities, and others. Each of these asset types offers unique characteristics and appeals to different segments of investors, contributing to the overall growth and diversification of the market.

Government bonds are one of the most significant segments in the fixed income market. Issued by national governments, these bonds are considered low-risk investments due to the backing of the issuing g

China WMCP: Maturity: Fixed Income Product: Open-end data was reported at 3,948.000 Unit in Mar 2025. This records an increase from the previous number of 3,642.000 Unit for Feb 2025. China WMCP: Maturity: Fixed Income Product: Open-end data is updated monthly, averaging 1,739.500 Unit from Aug 2022 (Median) to Mar 2025, with 32 observations. The data reached an all-time high of 3,948.000 Unit in Mar 2025 and a record low of 286.000 Unit in Oct 2022. China WMCP: Maturity: Fixed Income Product: Open-end data remains active status in CEIC and is reported by Puyi Standard. The data is categorized under China Premium Database’s Financial Market – Table CN.ZAM: Puyi Standard: Maturity: Wealth Management Product.

Income-Before-Tax Time Series for China Merchants Securities Co Ltd. China Merchants Securities Co., Ltd. engages in the wealth management and institutional, investment banking, investment management, investment, and trading businesses in the People's Republic of China. The company trades in stocks and futures contracts; provides margin financing and securities lending services; and sells financial and other wealth management products. It also offers investment banking services to its institutional clients, including financial advisory, equity and debt underwriting, and sponsorship; and assets management, investing advisory, deal execution, and private equity investment management services. In addition, the company trades in equity and fixed-income securities, derivatives, and other financial products, as well as offers market maker and alternative investment services. The company was founded in 1991 and is based in Shenzhen, the People's Republic of China.

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Fixed Income Assets Management Market Size 2025-2029

The fixed income assets management market size is valued to increase USD 9.16 tr, at a CAGR of 6.3% from 2024 to 2029. Increasing investment in fixed income assets will drive the fixed income assets management market.

Major Market Trends & Insights

North America dominated the market and accounted for a 35% growth during the forecast period.
By Type - Core segment was valued at USD 13.18 tr in 2023
By End-user - Enterprises segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 55.33 tr
Market Future Opportunities: USD 9156.40 tr
CAGR : 6.3%
North America: Largest market in 2023

Market Summary

The market encompasses the management and investment in various types of debt securities, including bonds and treasuries. Core technologies and applications, such as portfolio optimization algorithms and risk management tools, play a crucial role in this market's continuous evolution. One significant trend is the increasing adoption of bond exchange-traded funds (ETFs), which accounted for over 20% of global fixed income assets under management in 2021.
However, the market faces challenges, including transaction risks and regulatory changes. For instance, the European Securities and Markets Authority's (ESMA) updated guidelines on MiFID II reporting requirements have impacted market participants. Despite these challenges, opportunities persist, including the growing demand for active management strategies and the increasing popularity of alternative investment-grade bonds.

What will be the Size of the Fixed Income Assets Management Market during the forecast period?

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How is the Fixed Income Assets Management Market Segmented and what are the key trends of market segmentation?

The fixed income assets management industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD tr' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Core
  Alternative


End-user

  Enterprises
  Individuals


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Type Insights

The core segment is estimated to witness significant growth during the forecast period.

Fixed Income Asset Management (FIAM) is a strategic investment approach that focuses on managing a diversified mix of US dollar-denominated fixed-income securities. This strategy encompasses various types of securities, including investment-grade bonds, commercial mortgage-backed securities (CMBS), residential mortgage-backed securities (RMBS), asset-backed securities (ABS), US government bonds, corporate debt, and other securitized assets. FIAM strategies employ rigorous research and risk management techniques to deliver consistent, solid returns, balancing both capital growth and income objectives. Portfolio managers meticulously blend securities across issuers, maturities, and jurisdictions to cater to the varying requirements of investors. Quantitative bond strategies, such as yield curve modeling and duration and convexity analysis, play a crucial role in FIAM.

These strategies help in assessing the risk-reward trade-off and optimizing the portfolio's sensitivity to interest rate changes. Interest rate swaps and other interest rate derivatives are essential tools in managing FIAM. They enable portfolio managers to hedge against interest rate risk and adjust the portfolio's duration to maintain an optimal risk profile. Performance attribution models and option-adjusted spread analysis are essential for evaluating the effectiveness of FIAM strategies. These models help in understanding the contribution of various factors to the portfolio's overall performance. Liquidity risk management is another critical aspect of FIAM. Portfolio managers employ various techniques, such as securitization and debt portfolio optimization, to manage liquidity risk and ensure that the portfolio remains accessible to investors.

Global macroeconomic factors, such as inflation, economic growth, and interest rates, significantly impact the FIAM market. Inflation-linked securities and credit default swaps are popular instruments used to hedge against inflation risk and credit risk, respectively. The FIAM market is experiencing steady growth, with an increasing number of investors recognizing the benefits of this investment strategy. According to recent studies, the market is projected to expand by approximately 12% in the coming year. Additionally, there has been a significant increase in the adoption of quantitative bond strategies, with over 40% of portfolio managers re

Fixed Asset Investment in China decreased to 0.50 percent in August from 1.60 percent in July of 2025. This dataset provides - China Fixed Asset Investment- actual values, historical data, forecast, chart, statistics, economic calendar and news.

China Insurance Industry: Share of Investment Income: Year to Date: Fixed Income data was reported at 113.720 % in Dec 2012. This records an increase from the previous number of 48.100 % for Dec 2009. China Insurance Industry: Share of Investment Income: Year to Date: Fixed Income data is updated quarterly, averaging 51.000 % from Jun 2009 (Median) to Dec 2012, with 3 observations. The data reached an all-time high of 113.720 % in Dec 2012 and a record low of 48.100 % in Dec 2009. China Insurance Industry: Share of Investment Income: Year to Date: Fixed Income data remains active status in CEIC and is reported by National Financial Regulatory Administration. The data is categorized under China Premium Database’s Insurance Sector – Table CN.RGH: Insurance Industry Investment.

This statistic shows the growth rate of investment in fixed assets in China from ********* to ********. In the latest reported month in 2023, the fixed asset investment in China increased by **** percent compared to the same period of the previous year.

Net-Income-Dividend-Coverage Time Series for Polaris Bay Group Co Ltd. Huachuang Yunxin Digital Technology Co., Ltd. engages in the securities businesses in China. The company offers securities and futures brokerage, fund distribution, securities and derivatives investment and consulting, securities underwriting and sponsorship; and credit transaction business comprising margin financing and securities lending, financial advice for securities trading and investment, stock pledged and agreed repurchase, fixed income and equity products, alternative investment, bond underwriting, investment banking, asset management and securitization, and other services. It also involved in agency sale of financial products and pipe and profile products; provision of commercial services; and warehousing and industrial manufacturing businesses. The company was formerly known as Polaris Bay Group Co., Ltd. and changed its name to Huachuang Yunxin Digital Technology Co., Ltd. in June 2023. Huachuang Yunxin Digital Technology Co., Ltd. was founded in 1998 and is based in Beijing, China.

Long-Term-Investments Time Series for China Bills Finance Corp. China Bills Finance Corporation provides various financial services in Taiwan. The company engages in the certification and underwriting of short-term bills and bank debentures; brokerage and trading of short-term bills, bank debentures, government and corporate bonds, and foreign bonds; guaranteeing short-term bills; and provision of financial consulting services to enterprises. It is also involved in the processing interbank call loans; equity investments; fixed income securities trading; certifying, underwriting, and brokering and trading of foreign-currency bills; and other businesses. The company was incorporated in 1978 and is headquartered in Taipei City, Taiwan.

Income-Before-Tax Time Series for Huatai Securities Co Ltd. Huatai Securities Co., Ltd., together with its subsidiaries, provides securities and financial services for individual, enterprise, and institutional clients in Mainland China and internationally. It operates through Wealth Management, Institutional Services, Investment Management, International Business, and Other segments. The company offers wealth management services, including securities, futures, and options brokerage, financial products sales, fund investment advisory, and capital-based intermediary services; asset allocation; and margin financing, securities lending, securities-backed lending, and stock pledged repurchase services, as well as trades in stocks, funds, and bonds on behalf of clients. It also provides investment banking services comprising domestic and overseas equity financing, bond financing, and financial advisory; prime brokerage services, such as asset custody and fund services; research and institutional sales; equity securities and fixed income investments and transactions; and over-the-counter financial products and transactions services. In addition, the company provides asset management services, private equity investment, alternative investments, and commodities trading and arbitrage services; fintech and digital services; and platforms for investment management and banking, FICC trading, and online securities lending. Huatai Securities Co., Ltd. was founded in 1990 and is based in Nanjing, the People's Republic of China.

China WMCP: Duration: Avg Annualized Rate of Return: Close-end Fixed Income Product: Up to 1 Year data was reported at 3.340 % pa in Mar 2025. This records a decrease from the previous number of 3.560 % pa for Feb 2025. China WMCP: Duration: Avg Annualized Rate of Return: Close-end Fixed Income Product: Up to 1 Year data is updated monthly, averaging 3.235 % pa from Aug 2022 (Median) to Mar 2025, with 32 observations. The data reached an all-time high of 4.160 % pa in Aug 2022 and a record low of 1.880 % pa in Dec 2022. China WMCP: Duration: Avg Annualized Rate of Return: Close-end Fixed Income Product: Up to 1 Year data remains active status in CEIC and is reported by Puyi Standard. The data is categorized under China Premium Database’s Financial Market – Table CN.ZAM: Puyi Standard: Average Annualized Rate of Return: Duration: Wealth Management Product.

China WMWMP: Maturity: Fixed Income Product: Open-end data was reported at 5,035.000 Unit in Mar 2025. This records an increase from the previous number of 4,701.000 Unit for Feb 2025. China WMWMP: Maturity: Fixed Income Product: Open-end data is updated monthly, averaging 2,767.000 Unit from Aug 2022 (Median) to Mar 2025, with 32 observations. The data reached an all-time high of 5,035.000 Unit in Mar 2025 and a record low of 2,023.000 Unit in Sep 2022. China WMWMP: Maturity: Fixed Income Product: Open-end data remains active status in CEIC and is reported by Puyi Standard. The data is categorized under China Premium Database’s Financial Market – Table CN.ZAM: Puyi Standard: Maturity: Wealth Management Product.