In this podcast, Sylvester Kobo, Deputy Head of STANLIB Fixed Income, describes how the team’s views evolved through Q2 2025. After the US Liberation Day announcements, duration in the STANLIB Flexible Income Fund was reduced from three to about 1.5 years. With continuing uncertainty over tariffs, the fund maintains a defensive position, but its allocation to cash and inflation-linked bonds helped it to outperform its benchmark in the quarter. Sylvester also touches on offshore investor flows into and out of SA bonds and the SARB’s new, lower inflation target.

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