In 2019, emerging market debt had the widest appeal to sovereigns globally with 71 percent already investing in it, while half of the respondents named this alternative credit type as the most attractive over the next three years. Bank loans were ranked the lowest with only 17 percent of sovereigns saying that in the next three years this type is going to be sought after.

Hong Kong HK Investment Fund: Sale: Bond Funds: Emerging Markets data was reported at 79.260 USD mn in May 2018. This records a decrease from the previous number of 153.600 USD mn for Apr 2018. Hong Kong HK Investment Fund: Sale: Bond Funds: Emerging Markets data is updated monthly, averaging 104.870 USD mn from Jul 2006 (Median) to May 2018, with 143 observations. The data reached an all-time high of 683.380 USD mn in Mar 2012 and a record low of 3.740 USD mn in Feb 2016. Hong Kong HK Investment Fund: Sale: Bond Funds: Emerging Markets data remains active status in CEIC and is reported by Hong Kong Investment Funds Association. The data is categorized under Global Database’s Hong Kong – Table HK.Z038: HK Investment Funds Association Statistics.

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

Sustainability-linked bonds (SLBs) issuance has increased in recent years, particularly in emerging market economies. The value of SLB issuance almost tripled, from ** billion U.S. dollars in 2019 to *** billion U.S. dollars in 2021, an increase of approximately *** percent. SLBs are utilized by corporations to fund the execution of sustainability goals, but with no restrictions were in place on how funds were to be used. The issuance of bonds is generally linked to predefined sustainability or Environmental, Social, and Governance (ESG) objectives. Some of the most popular SDG sectors among investors were health, climate change mitigation, and food and agriculture.

Hong Kong SAR (China) HK Investment Fund: Net Sales: Bond: Emerging Markets data was reported at -29.196 USD mn in Feb 2025. This records a decrease from the previous number of -26.683 USD mn for Jan 2025. Hong Kong SAR (China) HK Investment Fund: Net Sales: Bond: Emerging Markets data is updated monthly, averaging -8.690 USD mn from Jan 2023 (Median) to Feb 2025, with 26 observations. The data reached an all-time high of 93.351 USD mn in Jul 2023 and a record low of -31.691 USD mn in Dec 2024. Hong Kong SAR (China) HK Investment Fund: Net Sales: Bond: Emerging Markets data remains active status in CEIC and is reported by Hong Kong Investment Funds Association. The data is categorized under Global Database’s Hong Kong SAR (China) – Table HK.Z036: HK Investment Funds Association Statistics.

Morgan Stanley Emerging Markets Debt Fund investing activities - other from 1970 to 1969. Investing activities - other can be defined as the net amount of items a company reports that are too small to report separately. Additionally, this field holds the sum of items a company reports that cannot be assigned to any other standardized field in the investing activities section of the Cash Flows Statement

The global Emerging Market Funds market is experiencing robust growth, driven by increasing investor interest in high-growth economies and diversification strategies. While precise market size figures for 2019-2024 are unavailable, a reasonable estimation, based on industry reports and the stated forecast period (2025-2033) with a provided CAGR, suggests a significant market size in 2025 (let's assume $500 billion for illustrative purposes). This substantial base indicates a considerable potential for future growth. Key drivers include rising disposable incomes in emerging economies, increasing financial literacy, and the availability of sophisticated investment vehicles catering to diverse risk appetites. Furthermore, favourable macroeconomic conditions in certain regions and government initiatives promoting financial inclusion are also fueling market expansion. However, challenges remain, including geopolitical instability in some emerging markets, currency fluctuations, and regulatory uncertainties. The market is segmented by fund type (e.g., equity, debt, balanced), investment strategy (e.g., value, growth), and region. Major players like BlackRock, Vanguard, Fidelity, and several prominent Asian fund houses dominate the landscape, leveraging their global reach and expertise to capture market share. The forecast period (2025-2033) promises continued expansion, although the exact CAGR will depend on various macroeconomic factors and evolving investor sentiment. The competitive landscape is characterized by intense competition among both global and regional players. Established players are constantly innovating to offer competitive products and services, such as ESG (Environmental, Social, and Governance) focused funds and thematic funds aligned with specific emerging market trends. Mergers and acquisitions are also expected to play a role in shaping the market dynamics. The increasing adoption of fintech solutions is streamlining operations and improving accessibility for investors. The growth trajectory will largely depend on factors such as global economic stability, interest rate movements, and political stability within emerging market countries. The successful players will be those that can effectively manage risk, adapt to changing market conditions, and offer compelling investment strategies tailored to specific investor needs.

Hong Kong HK Investment Fund: Net Invt: Bond Funds: Emerging Markets data was reported at -40.780 USD mn in Oct 2018. This records an increase from the previous number of -86.020 USD mn for Sep 2018. Hong Kong HK Investment Fund: Net Invt: Bond Funds: Emerging Markets data is updated monthly, averaging 9.300 USD mn from Jul 2006 (Median) to Oct 2018, with 148 observations. The data reached an all-time high of 429.140 USD mn in Oct 2012 and a record low of -278.240 USD mn in Jul 2013. Hong Kong HK Investment Fund: Net Invt: Bond Funds: Emerging Markets data remains active status in CEIC and is reported by Hong Kong Investment Funds Association. The data is categorized under Global Database’s Hong Kong SAR – Table HK.Z038: HK Investment Funds Association Statistics.

Corporate Bond Market Outlook

According to our latest research, the global corporate bond market size reached USD 13.2 trillion in 2024, reflecting the robust appetite for fixed-income securities among investors worldwide. The market is projected to grow at a CAGR of 6.1% from 2025 to 2033, reaching a forecasted value of USD 22.4 trillion by 2033. This growth trajectory is underpinned by increasing corporate financing needs, persistent low interest rate environments in key economies, and the ongoing diversification strategies of institutional investors seeking stable returns and risk mitigation.

One of the primary growth drivers for the corporate bond market is the rising demand for alternative investment vehicles among institutional investors. Pension funds, insurance companies, and sovereign wealth funds are increasingly allocating larger portions of their portfolios to corporate bonds, attracted by the relatively higher yields compared to government securities. In addition, the growing sophistication of credit risk assessment tools and enhanced market transparency have made corporate bonds more accessible and attractive to a broader range of investors. The expansion of emerging markets, where corporations are turning to bonds as a means of raising capital for expansion and innovation, is also contributing significantly to the overall market growth.

Another critical factor fueling the growth of the corporate bond market is the evolving regulatory landscape. Regulatory reforms, such as Basel III and Solvency II, have encouraged financial institutions to maintain higher capital buffers, prompting them to invest in liquid and high-quality assets like investment-grade corporate bonds. Moreover, the proliferation of sustainable finance initiatives has led to a surge in the issuance of green and social bonds by corporations aiming to align with environmental, social, and governance (ESG) criteria. This trend is not only expanding the market but also attracting a new class of investors focused on responsible investing.

Technological advancements are also playing a pivotal role in the transformation of the corporate bond market. The adoption of electronic trading platforms, blockchain-based settlement systems, and advanced data analytics has streamlined the issuance, trading, and settlement processes. These innovations have enhanced market liquidity, reduced transaction costs, and increased transparency, making corporate bonds more accessible to both institutional and retail investors. Furthermore, the rise of online platforms and fintech solutions is democratizing access to corporate bonds, enabling a broader investor base to participate in this dynamic market.

From a regional perspective, North America continues to dominate the corporate bond market owing to the presence of mature capital markets, a large base of institutional investors, and a favorable regulatory environment. However, Asia Pacific is rapidly emerging as a key growth engine, driven by economic expansion, financial market liberalization, and increasing corporate bond issuances in countries like China, Japan, and India. Europe also remains a significant market, supported by robust investor demand and the widespread adoption of ESG principles. Meanwhile, Latin America and the Middle East & Africa are witnessing gradual growth, fueled by infrastructure development and efforts to deepen local capital markets.

Type Analysis

The corporate bond market can be broadly segmented by type into investment grade and high yield bonds. Investment grade bonds, which are issued by corporations with strong credit ratings, constitute the largest segment due to their lower risk profile and stable returns. These bonds are particularly favored by risk-averse investors such as pension funds, insurance companies, and central banks. The demand for investment grade bonds has been further bolstered by regulatory requirements mandating higher allocations to high-quality assets, as well as the growing emphasis on

The Fixed Income ETF market, encompassing a diverse range of investment strategies, experienced significant growth between 2019 and 2024. While precise figures are unavailable, industry trends suggest a substantial market size in 2025, likely exceeding $1 trillion, driven by increasing investor demand for diversification, lower expense ratios compared to actively managed funds, and the ease of access offered by exchange-traded structures. Major players like Vanguard, BlackRock, and PIMCO dominate the market share, benefiting from their established brand reputation, extensive product offerings, and robust distribution networks. The market's growth trajectory is projected to continue throughout the forecast period (2025-2033), though at a potentially moderated CAGR compared to previous years, influenced by fluctuating interest rates and macroeconomic uncertainties. The increasing complexity of the global financial landscape, coupled with growing regulatory scrutiny, could present challenges for market expansion. Segmentation within the market is substantial, ranging from government bonds to corporate debt, emerging markets, and specialized strategies like high-yield or municipal bonds. Growth drivers include the pursuit of yield in a low-interest-rate environment, the appeal of passive investment strategies for retail and institutional investors, and the rising adoption of ETFs within retirement plans and other investment vehicles. However, restraints include potential market volatility due to economic downturns, the impact of rising inflation on fixed-income returns, and competition from other investment products like mutual funds. Regional variations are expected, with North America and Europe continuing to hold significant market share, although Asia-Pacific and other emerging markets are anticipated to witness accelerated growth in the coming years driven by increasing financial market sophistication and infrastructure development. This growth is projected to be fueled by an increasing number of sophisticated investors seeking efficient access to global fixed-income markets. The market’s future evolution hinges on factors such as interest rate changes, global economic stability, and the continuing evolution of investor preferences towards passive investment solutions.

Hong Kong SAR (China) HK Investment Fund: Redemptions: Bond: Emerging Markets data was reported at 50.702 USD mn in Feb 2025. This records an increase from the previous number of 44.482 USD mn for Jan 2025. Hong Kong SAR (China) HK Investment Fund: Redemptions: Bond: Emerging Markets data is updated monthly, averaging 38.889 USD mn from Jan 2023 (Median) to Feb 2025, with 26 observations. The data reached an all-time high of 77.690 USD mn in Jan 2024 and a record low of 25.797 USD mn in Jun 2024. Hong Kong SAR (China) HK Investment Fund: Redemptions: Bond: Emerging Markets data remains active status in CEIC and is reported by Hong Kong Investment Funds Association. The data is categorized under Global Database’s Hong Kong SAR (China) – Table HK.Z036: HK Investment Funds Association Statistics.

The global convertible bond fund market is experiencing robust growth, driven by increasing investor interest in hybrid instruments offering both equity upside and debt security. The market size in 2025 is estimated at $500 billion, reflecting a Compound Annual Growth Rate (CAGR) of 8% from 2019 to 2024. This strong performance is attributed to several key factors. Firstly, the current macroeconomic environment characterized by moderate interest rates and volatile equity markets makes convertible bonds an attractive investment option. Secondly, the increasing sophistication of investors and their willingness to explore alternative investment strategies fuel demand for convertible bond funds. Thirdly, the rise of passive investment strategies, particularly in exchange-traded funds (ETFs), is contributing to market expansion, as is the growth in the active management sector catering to investors seeking higher returns. Segment-wise, the active convertible bond fund segment is anticipated to hold a larger market share due to its potential for alpha generation. However, the passive segment is experiencing rapid growth driven by the cost-effectiveness and ease of access. Similarly, direct sales channels currently dominate, but indirect sales, particularly through financial advisors and wealth management firms, are exhibiting significant growth potential. The geographic distribution of the market shows strong presence in North America and Europe, but rapidly expanding markets in Asia-Pacific present substantial future growth prospects. Looking ahead to 2033, the market is poised for continued expansion, primarily fueled by the burgeoning economies of Asia and increasing participation from institutional investors seeking diversification. The market size is projected to reach approximately $1 trillion by 2033, maintaining a healthy CAGR of 6% during the forecast period (2025-2033). However, potential headwinds such as interest rate hikes and regulatory changes could influence the pace of growth. The competitive landscape is highly concentrated, with major players like BlackRock, Vanguard, and Fidelity Investments leading the market. However, emerging market players and fintech companies are also beginning to challenge the incumbents. The evolving market dynamics demand a strategic approach for players focusing on technology integration, improved product offerings, and targeted geographic expansion.

Hong Kong SAR (China) HK Investment Fund: Gross Sales: Bond: Emerging Markets data was reported at 21.506 USD mn in Feb 2025. This records an increase from the previous number of 17.799 USD mn for Jan 2025. Hong Kong SAR (China) HK Investment Fund: Gross Sales: Bond: Emerging Markets data is updated monthly, averaging 28.690 USD mn from Jan 2023 (Median) to Feb 2025, with 26 observations. The data reached an all-time high of 133.820 USD mn in Jul 2023 and a record low of 4.529 USD mn in Dec 2024. Hong Kong SAR (China) HK Investment Fund: Gross Sales: Bond: Emerging Markets data remains active status in CEIC and is reported by Hong Kong Investment Funds Association. The data is categorized under Global Database’s Hong Kong SAR (China) – Table HK.Z036: HK Investment Funds Association Statistics.

Developing countries in Asia and the Pacific are historically the least responsible for greenhouse gas emissions that result in climate change, but are most vulnerable to its environmental, economic and social impacts. Priority responses to the challenge of global warming include strategies to reduce vulnerability; climate-proofing infrastructure to protect lives and assets; investing in adaptation strategies; strengthening resilience; and reducing emissions. This will require significant investments by both public and private sectors. Global estimates of the cumulative investment needed to stay within a 2ºC temperature increase by 2030-35 range between $55 and $93 trillion. Developing Asia alone needs an estimated US$3.6 billion per annum up to 2030 to transition toward net zero emissions and increased resilience as required by the Paris Agreement. This economic transition also presents a unique opportunity for private finance. Estimates suggest that the Paris Agreement has opened up nearly $23 trillion in opportunities for climate-smart investments in emerging markets up to 2030.

The global investment banking industry, valued at approximately $XX million in 2025, is projected to experience steady growth, driven by a compound annual growth rate (CAGR) of 2.10% from 2025 to 2033. This growth is fueled by several key factors. Increased mergers and acquisitions activity across various sectors, particularly in technology and healthcare, is a significant driver. Furthermore, the rising need for capital in emerging markets and the expansion of private equity investments are contributing to the industry's expansion. The growing complexity of financial markets and the need for specialized expertise in areas like debt and equity financing are also boosting demand for investment banking services. While regulatory scrutiny and geopolitical uncertainties pose potential restraints, the overall outlook for the industry remains positive, with significant opportunities for established players and new entrants alike. The industry is segmented by product type, with mergers and acquisitions, debt capital markets, and equity capital markets representing the largest segments. Key players like J.P. Morgan Chase & Co., Goldman Sachs Group Inc., and Morgan Stanley dominate the market landscape, leveraging their established networks and expertise to capture a significant share of transactions. Geographic expansion into high-growth regions, such as Asia and Latin America, presents further growth opportunities. The Americas, particularly the United States, currently hold the largest market share, reflecting the region's strong economic activity and developed financial markets. However, the EMEA (Europe, Middle East, and Africa) and Asia-Pacific regions are expected to show robust growth in the coming years, driven by rising middle classes, increasing urbanization, and government initiatives promoting economic development. Competition within the industry is intense, with firms constantly striving to innovate their service offerings and enhance their technological capabilities to remain competitive. The industry's future will likely be shaped by technological advancements, such as AI and machine learning, which are expected to streamline processes and improve efficiency. The increasing importance of sustainable finance and environmental, social, and governance (ESG) factors will also play a significant role in shaping industry practices and investment strategies in the coming years. Notable trends are: 2019 - The Year of Mega Deals yet with Lesser M&A Volume.

Templeton Emerging Markets Fund long-term investments from 1970 to 1969. Long-term investments can be defined as the aggregate value of debt and or equity investments with maturities or benefits lasting more than one year.

Renewable Bond Purchase App Market Outlook

According to our latest research, the Renewable Bond Purchase App market size reached USD 2.15 billion globally in 2024, reflecting the rapid adoption of digital investment platforms focused on sustainable finance. The market is projected to expand at a robust CAGR of 14.7% from 2025 to 2033, reaching an estimated value of USD 6.29 billion by 2033. This growth is primarily driven by increasing investor interest in environmental, social, and governance (ESG) assets, the proliferation of mobile and web-based financial technologies, and supportive regulatory frameworks promoting green investments.

The surge in demand for renewable bond purchase apps is propelled by a global shift towards sustainable investment practices. Investors, both retail and institutional, are increasingly prioritizing assets that align with environmental objectives and social responsibility. This trend is amplified by heightened awareness of climate change and the urgent need for financing renewable energy, clean infrastructure, and climate resilience projects. As a result, digital platforms that facilitate easy access to green, climate, and sustainability bonds are witnessing unprecedented growth. These apps streamline the investment process, offering real-time analytics, transparency, and seamless transactions, thereby attracting a new generation of tech-savvy, socially conscious investors.

Another significant growth factor is the technological advancement within the fintech sector, which has revolutionized the way bonds are issued, traded, and managed. The integration of artificial intelligence, blockchain, and advanced data analytics into renewable bond purchase apps has enhanced security, improved user experience, and reduced operational costs. These innovations enable investors to evaluate bond performance, assess risks, and make informed decisions swiftly. Furthermore, the availability of cloud-based deployment options allows for greater scalability and accessibility, ensuring that both individual and institutional investors can participate in sustainable finance regardless of geographical location.

Regulatory support and policy initiatives have also played a crucial role in propelling the renewable bond purchase app market forward. Governments and international bodies are introducing incentives, tax benefits, and mandatory disclosure requirements for green investments. This regulatory push not only increases the issuance of renewable bonds but also boosts investor confidence in the authenticity and impact of these financial instruments. The alignment of global financial markets with the United Nations Sustainable Development Goals (SDGs) has further cemented the importance of digital platforms in mobilizing capital towards renewable and socially responsible projects.

Regionally, North America and Europe have emerged as frontrunners in the adoption of renewable bond purchase apps, driven by robust fintech ecosystems, high investor awareness, and favorable regulatory landscapes. However, Asia Pacific is rapidly catching up, fueled by expanding digital infrastructure and growing interest in sustainable finance among emerging markets. Latin America and the Middle East & Africa are also witnessing steady growth, albeit from a smaller base, as local governments and financial institutions begin to embrace ESG principles and digital investment platforms.

Platform Analysis

The platform segment within the renewable bond purchase app market is categorized into iOS, Android, and web-based platforms. Each platform caters to distinct user preferences and access patterns, influencing the overall market dynamics. iOS-based apps are particularly popular among high-net-worth individuals and institutional investors in developed markets, owing to their reputation for security, seamless integration with other Apple services, and premium user experience. The iOS ecosystem also benefits from a loyal user base, which often translates into highe

As of December 30, 2024, the major economy with the highest yield on 10-year government bonds was Turkey, with a yield of ***** percent. This is due to the risks investors take when investing in Turkey, notably due to high inflation rates potentially eradicating any profits made when using a foreign currency to investing in securities denominated in Turkish lira. Of the major developed economies, United States had one the highest yield on 10-year government bonds at this time with **** percent, while Switzerland had the lowest at **** percent. How does inflation influence the yields of government bonds? Inflation reduces purchasing power over time. Due to this, investors seek higher returns to offset the anticipated decrease in purchasing power resulting from rapid price rises. In countries with high inflation, government bond yields often incorporate investor expectations and risk premiums, resulting in comparatively higher rates offered by these bonds. Why are government bond rates significant? Government bond rates are an important indicator of financial markets, serving as a benchmark for borrowing costs, interest rates, and investor sentiment. They affect the cost of government borrowing, influence the price of various financial instruments, and serve as a reflection of expectations regarding inflation and economic growth. For instance, in financial analysis and investing, people often use the 10-year U.S. government bond rates as a proxy for the longer-term risk-free rate.

The North American mutual fund industry, a cornerstone of personal and institutional investment, is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 5% from 2025 to 2033. This expansion is fueled by several key factors. Increasing retail investor participation, driven by factors such as financial literacy initiatives and the accessibility of online brokerage platforms, contributes significantly to market growth. Furthermore, institutional investors, including pension funds and endowments, continue to allocate substantial capital to mutual funds for diversification and long-term growth. The industry's diversification across fund types—equity, bond, hybrid, and money market— caters to a broad spectrum of risk tolerances and investment objectives. Geographic distribution, while concentrated in the United States, shows potential for expansion in Canada and Mexico, reflecting the increasing economic activity and financial sophistication in these regions. The competitive landscape is dominated by major players such as Vanguard, Fidelity, and BlackRock, who leverage their scale, brand recognition, and technological innovation to attract and retain clients. However, niche players and innovative fintech companies are also emerging, challenging the established order and potentially disrupting the market through specialized offerings and enhanced digital user experiences. Regulatory changes and evolving investor preferences, particularly concerning ESG (environmental, social, and governance) investing, are also shaping the industry's trajectory. The continued growth of the North American mutual fund industry is contingent upon several factors. Maintaining investor confidence amid market volatility is paramount. The industry's ability to adapt to technological advancements, including the integration of artificial intelligence and robo-advisors, will significantly influence its competitive edge. Furthermore, ongoing regulatory scrutiny and the need to transparently address concerns about fees and performance will play a crucial role in shaping investor perception and driving future growth. The industry's response to evolving investor demands, such as the increasing demand for ESG-focused funds and personalized investment solutions, will also determine its overall success in the long term. The continued expansion into new markets within North America, particularly by leveraging digital channels to reach a wider investor base, presents a significant opportunity for future growth. Recent developments include: In 2021, Fidelity Investements along with Visa backed Jumo, an emerging fintech startup which offers savings and credit products to entrepreneurs in emerging markets, as well as financial services infrastructure to partners such as eMoney operators, mobile fintech platforms and banks. it raised atotal of USD 120 million., In Dec 2021, T. Rowe Price Group, Inc. announced its acquisition of Oak Hill Advisors, L.P. (OHA), a leading alternative credit manager. The acquisition accelerates T. Rowe Price's expansion into alternative credit markets, complementing its existing global platform and ongoing strategic investments in its core investments and distribution capabilities.. Notable trends are: Market Securities Held By Mutual Funds in United States.