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Key documents
Objective
The BlueBay Investment Grade Absolute Return Bond Fund is designed to invest in predominantly global investment grade corporate and sovereign issues, derivatives, rates and currencies, combined with environmental, social and governance (ESG) criteria.1
Sustainability-related disclosure
The BlueBay Investment Grade Absolute Return Bond Fund (the Fund) is actively managed and its objective is to achieve a total return in excess of the ICE BofA Merill Lynch Euro Currency 3-Month Deposit Offered Rate Constant Maturity index. There are no restrictions on the extent to which the Fund's portfolio and performance may deviate from the ones of the benchmark.
The Fund’s benchmark (ICE BoFA Merrill Lynch Euro Currency 3-Month Deposit Offered Rate Constant Maturity index) does not implement any of the ESG specific considerations which apply to the fund and is therefore used for performance comparison only.
Fund specific risks
- At times, the market for investment grade 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
- RBC BlueBay's ESG analysis can rely on input from external providers. Such data may be inaccurate or incomplete or unavailable and RBC BlueBay could assess the ESG risks of securities held incorrectly
- RBC BlueBay 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.
1. Certain investment strategies, asset classes, exposure and security types do not integrate ESG factors, including but not limited to money market, buy-and maintain, passive, and certain third-party sub-advised strategies or certain currency or derivative instruments. Different strategies that integrate ESG factors will be at varying stages of implementation. Please read a fund's prospectus or offering memorandum for further details.
Investment approach
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Seeking to generate returns from investment decisions in global rates, sovereign and corporate credit and currencies based on high quality forensic proprietary research
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Research seeks to integrate macro, regulatory and political research with more traditional balance sheet analysis
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Half the targeted return is foreseen to come from bottom up decisions (sector, issuer and issue selection)
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Decision making focussed on both long and short risk positions to be able to potentially generate alpha in all market environments
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Strong emphasis on capital preservation to limit drawdowns
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Uses the full range of cash and derivative securities
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Disciplined risk management at every stage of investment process
Market opportunity
The BlueBay Investment Grade Absolute Return Bond Fund is an absolute return strategy which aims to deliver excess returns in all market environments
The fund invests predominantly in global investment grade corporate and sovereign securities and derivatives, and takes risks in term structure, top down (beta) and bottom up (alpha) credit and currencies
Returns are foreseen to come from active management, based on high quality forensic proprietary research on term structure, top down(beta) and bottom up (alpha) credit and currency decisions
Mark Dowding
BlueBay Chief Investment Officer, BlueBay Fixed Income
Mark is Chief Investment Officer for BlueBay fixed income. He has over 30 years' investment experience as a macro fixed income investor and has been a senior BlueBay portfolio manager since he joined in August 2010. As a macro risk taker, Mark actively pursues an open dialogue with policy makers and opinion formers, believing that proprietary research is key to gaining insights to generate strong investment returns. Prior to joining the firm, Mark was Head of Fixed Income in Europe for Deutsche Asset Management, a role he previously occupied at Invesco. He started his career as a fixed income portfolio manager at Morgan Grenfell in 1993 and holds a BSc (Hons) in Economics from the University of Warwick.
Russell Vincett
BlueBay Portfolio Manager,
Russell is a BlueBay Portfolio Manager within the Investment Grade team focusing on industrials. Russell joined BlueBay Asset Management (which is now part of RBC Global Asset Management) in June 2007 as a trader and became an analyst in January 2012, before moving to his current position in September 2021. Prior to BlueBay, he spent four years at Fore Research Ltd where he traded their high yield and leveraged loan books. He began his career at Fore in 2003 as an operations analyst for Europe and progressed to assistant trader, then later to loan and high yield trader in short succession. Throughout his tenure with the firm he also maintained the post of Compliance Officer. Previously, Russell worked at Merrill Lynch as a portfolio analyst within their prime brokerage department. Russell holds a BSc (Hons) degree in Economics and Finance from Brunel University and is a CFA charterholder.
Russel Matthews
BlueBay Senior Portfolio Manager, Global Macro
Russel is the lead portfolio manager for BlueBay's global macro strategy. He joined BlueBay Asset Management (which is now part of RBC Global Asset Management) in September 2010 as a Portfolio Manager responsible for the firm's European government and aggregate bond portfolios. Prior to BlueBay, Russel worked at Invesco Asset Management from 2000 to 2010, where he was responsible for managing multi-currency global fixed income portfolios for retail and institutional clients. He was also Co-Head of Global Alpha (ex US). Prior to joining Invesco, He worked at Citigroup Asset Management. Russel was born and grew up in Zimbabwe, and attended University in South Africa. He earned a Post Graduate Diploma in Management from the University of Cape Town in 1996 and a Bachelor of Arts degree in Economics and Journalism from Rhodes University in 1995.