Domestic Fixed Income
The Fixed Interest team apply a low-risk approach reflects the conservative nature of fixed income assets. The aim of a fixed income portfolio is to provide capital stability and reliable income and we aim to create well diversified portfolios with sound risk characteristics.
We believe that active management by experienced investment managers will provide superior investment returns. The philosophy is that consistent and superior returns are best achieved by having a diverse range of return generators, implemented in a risk-controlled and cost effective manner. Over time each return generator is expected to add small elements of incremental value, which accumulate to provide consistent and superior results.
The New Zealand Fixed Income team are leaders in their field; their track record, cautious approach and tenure of team have secured plaudits across the industry and from overseas investors. For over two decades this team has consistently been at or near the top of their peer group.
Learn more about our Funds
Click here
Fergus McDonald
Head of Bonds & Currency
Fergus is responsible for the investment strategy, performance and compliance of Bond, Cash and Currency mandates. Fergus has been actively involved in the New Zealand financial markets since 1981. Fergus has been with the company or its predecessors since 1990 and joined as a Fixed Interest Manager. Fergus has considerable experience in managing bond portfolios that combine Government stock and derivatives with corporate debt securities. Fergus was instrumental in developing and managing New Zealand’s first corporate bond unit trust. Fergus holds a Bachelor of Arts (Economics), from Victoria University of Wellington and a Certificate of Treasury Professionals.
Ian Bellew
Fixed Income Manager
Ian is joined Amova in 1998 as the Cash Portfolio Manager and was promoted to Fixed Income Manager in January 2012. Ian is responsible for the implementation of investment strategy and day to day management of the fixed income and option portfolios. Ian also contributes to team decision making by analysing economic information and identifying global and domestic trends. Ian holds a Bachelor of Commerce - Finance and Post-Graduate Diploma in Commerce - Finance from the University of Otago.
Matthew Johnson
Fixed Income Manager
Matthew is responsible for the implementation of investment strategy and day to day management of the fixed income funds. Matt brings to the team a diverse background in valuation and strategy. Previously an investment analyst in the Equity Team, Matthew returned to Amova NZ in 2018 after a six-year absence, including almost three years in M&A in Canada’s Oil Patch and most recently from The Comfort Group, Auckland where he led strategy. Matthew is a CFA Charterholder with degrees in finance and statistics.
Pranav Gakhar
Investment Analyst
Pranav joined Amova in 2025 and is an Investment Analyst in the Fixed Income team, having previously worked as a Business Analyst in 2024. Pranav assists with the management and day-to-day operations of the Fixed Income portfolios and provides operational backup for investment team members. Pranav is a Finance and Economics graduate from the University of Auckland and a CFA level 2 candidate.