The IBOXX Indices shown provide a good method of tracking the performance of the sterling bond markets. Total return indices include the income received from dividends and the reinvestment thereof. Price indices track the price performance of different groups of bonds, and can be used to compare returns and spreads against individual instruments.
The Fixed Income Investor Averages are calculated in a straightforward manner - being simple averages of the price/yield of security groups (all maturities). As such, they should not be used for total return calculations. However, they are useful relative benchmarks and a guide to the general behaviour of bonds available to the retail investor.