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Key documents
Objective
For fund factsheets, please contact us on clientreporting@bluebay.com.
The BlueBay Emerging Market Unconstrained Bond Fund is an actively managed total return fund that dynamically manages Emerging Market (EM) exposures through the market cycle. The fund is actively managed as a portfolio of high conviction positions with flexibility on interest-rate, currency and credit exposures. The fund is designed to provide upside capture of EM asset class returns and strong downside protection.
Sustainability-related disclosure
Fund specific risks
- At times, the market for emerging market bonds may dry up, which could make it difficult to sell these bonds, or the fund may only be able to sell them at a discount
- There may be cases where an organisation with which we trade assets or derivatives (usually a financial institution such as a bank) may be unable to fulfil its obligations, which could cause losses to the fund
- Investing in emerging market bonds offers you the chance to gain higher returns through growing your capital and generating income. Nevertheless, there is a greater risk that the organization which issued the bond will fail, which would result in a loss of income to the fund along with its initial investment
- Emerging markets may be more volatile and it could be harder to sell or trade these bonds. There may be less government supervision, legal regulation and less well-defined tax laws and procedures than in countries with more developed trading markets. Emerging markets can be particularly sensitive to political instability, which can result in greater volatility and uncertainty, subjecting the fund to the risk of losses
- RBC Global Asset Management could suffer from a failure of its processes, systems and controls – or from such a failure at an organisation on which we rely in order to deliver our services – which could lead to losses for the fund
This is a marketing communication. There are several risks associated with investing in this product. Please refer to the prospectus of the fund and to the KIID available on this website before making any final investment decisions.
Investment approach
- Efficient risk management of the aggregate portfolio on multiple levels; by country exposures, factor risks and macroeconomic sensitivities
- High conviction views are expressed through a combination of bottom-up fundamental, relative value and directional trades
- Returns come from a variety of sources including opportunities that are overlooked within traditional EM products
Market opportunity
Provides an unconstrained approach to investing across the sub-asset classes of emerging market debt with daily liquidity
The fund has a flexible investment remit, whose nature allows us to express high-conviction views on credit and market opportunities in emerging market sovereign debt, local currency debt and corporate debt across all parts of the credit cycle
The unconstrained nature of the fund means we can access multiple alpha sources and have the ability to potentially exploit inefficiencies in all market conditions, with the ability to hold short positions through derivatives
Our focus is on capital preservation and we gain insight from our fundamental research
Polina Kurdyavko
Head of BlueBay Emerging Markets, Emerging Markets
Polina is Head of BlueBay Emerging Markets and BlueBay Senior Portfolio Manager. In addition to oversight of investments across all EM strategies, Polina is also a lead portfolio manager for several flagship funds in EM sovereign, credit and local markets, including long only and alternative products. Polina started her career in emerging markets after the Russian financial crisis in 1998 and has, since then, gained expertise across a broad range of emerging market financial assets.
Polina joined BlueBay Asset Management (which is now part of RBC Global Asset Management) in July 2005 from UBS where she was a credit analyst in EM corporate research. Her role encompassed coverage of EM issuers as well as research support for primary issuance of corporate debt. Prior to this, Polina was with Alliance Capital where she was an emerging markets equity analyst and then moved on to pioneer emerging markets quantitative research at the firm. She started her career in a macro research boutique in Russia. Polina holds an MSc (Hons) in Finance from the People's Friendship University of Russia, Moscow and is a CFA charterholder.
Anthony Kettle
BlueBay Senior Portfolio Manager, Emerging Markets
Anthony is a BlueBay Senior Portfolio Manager within the Emerging Markets Team. Anthony joined BlueBay Asset Management (which is now part of RBC Global Asset Management) in March 2006 and his primary portfolio management responsibilities include the EM long-short credit strategy, the EM Unconstrained Bond Fund and the suite of EM Corporate long only funds. Prior to joining BlueBay, he held a management position at National Australia Bank. Anthony holds a Bachelor of Commerce degree from the University of Melbourne, a Graduate Diploma in Applied Finance and Investment from the Australian Securities and Investments Commission, is a CFA charterholder, and holds the CFA Certificate in ESG Investing.