An asset class/ security class that constitutes, from the perspective of a holder, a financial asset that generates specific amounts of money (income), being the fixed interest payment, at specific future dates (and over a span of time covering the security’s maturity or lifetime). At maturity, the issuer also repays the principal amount (the stated face value of the asset/ security at the time of issuance).

For the holder (investor), a fixed-income asset provides fixed periodic payments, and at the end of its maturity (holding period), it repays the principal amount invested in the asset.

Fixed income asset classes include private debt, securitized debt, sovereign debt and sub-sovereign debt.