The Report Covers US Fixed Income Asset Management Companies and the Market is Segmented Based On the Client Type (Retail, Pension Funds, Insurance Companies, Banks, and Other Client Types), and by Asset Class (Bonds, Money Market Instruments (includes Mutual Funds), ETF, and Other Asset Classes)

Discover the latest insights into the booming North American fixed income assets market. Explore market size, growth trends, key players (Vanguard, Pimco, Fidelity), and investment strategies in this comprehensive analysis projecting steady growth through 2033. Learn about the influence of pension funds, institutional investors, and regulatory changes. Notable trends are: Prominence of HNWIs in Fixed Income Investments in North America.

iShares Core U.S. Aggregate Bond ETF was the second-largest exchange traded fund (ETF) that invested solely in fixed-income assets traded on U.S. markets as of October 7, 2025. At this time, this ETF held around ****** billion U.S. dollars in assets. The Vanguard Total Bond Market ETF ranked in the *** spot, managing *** billion U.S. dollars in assets. Fixed income ETFs invest exclusively in government and corporate bonds, meaning the return for the assets purchased is known in advance. While this investment strategy carries less risk, it can also produce lower returns under many market conditions.

The size of the U.S. Fixed Income Assets Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 1.50% during the forecast period. Recent developments include: January 2024, BlackRock has finalized an agreement to acquire Global Infrastructure Partners (GIP), a move that positions it as a dominant player in the global infrastructure private markets investment landscape., October 2023, pvest, a Berlin-based fintech company, has partnered with BlackRock to enhance accessibility to investing for millions of Europeans. The collaboration aims to leverage pvest's all-in-one API, which offers trading, settlement, and custody infrastructure for digital wealth management. Additionally, pvest successfully concluded a fundraising round, securing €30 million in investments.. Notable trends are: Distribution of US Fixed Income Assets - By Investment Style.

The yield on US 10 Year Note Bond Yield rose to 4.12% on December 2, 2025, marking a 0.02 percentage points increase from the previous session. Over the past month, the yield has remained flat, and it is 0.11 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. US 10 Year Treasury Bond Note Yield - values, historical data, forecasts and news - updated on December of 2025.

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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

The Fixed Income Market Report Segments the Industry Into by Issuer Types (Governments As Issuers, Corporate Debt Instruments, Structured Finance Instruments), by End User (Institutional Investors, Retail Investors), by Time of Maturity (Short-Term (Less Than 1 Year), Intermediate-Term (1-10 Years), Long-Term (More Than 10 Years)), and by Geography (North America, Europe, Asia Pacific, South America, Middle East).

Discover the latest trends and growth projections for the US Fixed Income Asset Management market (2025-2033). This in-depth analysis reveals key drivers, restraints, and market segmentation, highlighting leading players like BlackRock and Vanguard. Explore the future of fixed income investing. Recent developments include: January 2024, BlackRock has finalized an agreement to acquire Global Infrastructure Partners (GIP), a move that positions it as a dominant player in the global infrastructure private markets investment landscape., October 2023, pvest, a Berlin-based fintech company, has partnered with BlackRock to enhance accessibility to investing for millions of Europeans. The collaboration aims to leverage pvest's all-in-one API, which offers trading, settlement, and custody infrastructure for digital wealth management. Additionally, pvest successfully concluded a fundraising round, securing €30 million in investments.. Notable trends are: Distribution of US Fixed Income Assets - By Investment Style.

Graph and download economic data for 10-Year High Quality Market (HQM) Corporate Bond Par Yield (HQMCB10YRP) from Jan 1984 to Oct 2025 about 10-year, bonds, yield, corporate, interest rate, interest, rate, and USA.

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

As of 2025, Vanguard's Emerging markets sovereign bonds were forecast to provide the highest 10-year annualized return spread with a minimum forecast return of *** percent. U.S. high-yield corporate bonds came in second place with possible returns forecast to range from a possible *** to *** percent. These two securities were also forecast to have the highest medium volatility over a 10-year investment period.

The yield on US 30 Year Bond Yield rose to 4.76% on December 2, 2025, marking a 0.02 percentage points increase from the previous session. Over the past month, the yield has edged up by 0.06 points and is 0.35 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. United States 30 Year Bond Yield - values, historical data, forecasts and news - updated on December of 2025.

Graph and download economic data for 50-Year High Quality Market (HQM) Corporate Bond Spot Rate (HQMCB50YR) from Jan 1984 to Oct 2025 about bonds, corporate, interest rate, interest, rate, and USA.

The Report Covers North America Fixed Income Asset Management Firms and it is segmented based on the source of funds (Pension funds, Insurance Companies, Retail Investors, Institutional Investors, and Others), by fixed income asset type (Core fixed incomes, alternative credit) and by type of asset management firms.

As of 2023, the United States had the largest bond market worldwide, accounting for nearly 40 percent of the total. The European Union was second in the ranking, accouting for almost one fifth of the total outstanding value of corporate and government bonds worldwid, followed by China with 16.3 percent.

US Fixed Income Asset Management Market size was valued at USD 70.7 Billion in 2024 and is expected to reach USD 80.91 Billion by 2032, growing at a CAGR of 1.7% from 2025 to 2032.

US Fixed Income Asset Management Market Drivers

Growing Demand for Stable Returns: In an environment of market volatility and low interest rates, fixed income investments provide a degree of stability and predictable income streams, making them attractive to a wide range of investors, including individuals, institutions, and pension funds.

Increasing Institutional Investments: Institutions such as pension funds, insurance companies, and endowments are major players in the fixed income market. These institutions require professional management to meet their long-term investment objectives and ensure the safety and stability of their portfolios.

Aging Population: The aging population in the US is increasing the demand for retirement income solutions, and fixed income investments play a crucial role in providing stable and predictable income streams for retirees.

Technological Advancements: Technological advancements in areas such as data analytics, artificial intelligence (AI), and machine learning are transforming fixed income management. These technologies enable asset managers to enhance portfolio construction, risk management, and investment decision-making.

Graph and download economic data for 100-Year High Quality Market (HQM) Corporate Bond Spot Rate (HQMCB100YR) from Jan 1984 to Oct 2025 about bonds, corporate, interest rate, interest, rate, and USA.

With 1001 ETF traded in the U.S. markets, Fixed Income ETF gathers total assets under management of $2273.34B.The average expense ratio is 0.35%. Fixed Income ETFs can be found in the following asset classes:EquityFixed IncomeThe largest Fixed Income ETF is the Vanguard Total Bond Market ETF BND with $145.01B in assets. In the last trailing year, the best-performing Fixed Income ETF was CVRT at 20.20%. The most recent ETF launched in the Fixed Income space was the T. Rowe Price Multi-Sector Income ETF TMSF on 2025-11-19.

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

United States - 10-Year High Quality Market (HQM) Corporate Bond Par Yield was 4.97% in August of 2025, according to the United States Federal Reserve. Historically, United States - 10-Year High Quality Market (HQM) Corporate Bond Par Yield reached a record high of 13.77 in June of 1984 and a record low of 1.93 in August of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - 10-Year High Quality Market (HQM) Corporate Bond Par Yield - last updated from the United States Federal Reserve on November of 2025.