Fixed income M&G Investments 3.68 Standard Life 3.43 Pictet AM 3.05 Brandywine Global 2.85 Goldman Sachs 2.62

While much of the financial world's attention was focused on floundering equity markets over the past 12 months, fixed income also had an eventful year. Government-issued, investment-grade and high-yield bonds each enjoyed their time in the sun reaping equity-like returns, but equally caused managers in the wrong category at the wrong time some headaches.