Key takeaways: We’re seeing a shift in investor interest towards hedge funds and other fixed income alternatives that can capitalise on market inefficiencies. It’s important to invest with skill in order to take advantage of term premia, liquidity premia, and volatility premia in the fixed income market. The current economic cycle and interest rate climate means there are a range of opportunities from multi-strategy offerings to illiquid credit strategies and more niche areas such as distressed debt in Europe.