Schemes queue up to buy ILGs despite negative yield

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A £5bn issuance of index-linked gilts (ILGs) yesterday was almost three times oversubscribed despite offering the lowest ever real yield for a bond of its type.

Axa Investment Managers (IM) said demand for the retail prices index (RPI) linked bond reached £14.5bn within an hour, with almost all of the interest coming from UK investors. The asset manager...

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