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Key documents
Objective
The BlueBay Investment Grade Euro Government Bond Fund is designed to invest in predominantly European investment grade sovereign issuers, rates and currencies, combined with environmental, social and governance (ESG) criteria.1
Sustainability-related disclosure
The BlueBay Investment Grade Euro Government Bond Fund (the Fund) is actively managed. The Fund's objective is to achieve a total return in excess of the Barclays Capital Euro Aggregate Treasury Index from a portfolio of investment grade-rated fixed income securities. There are no restrictions on the extent to which the Fund's portfolio and performance may deviate from the ones of the benchmark. As part of the investment process, the Investment Manager has full discretion over the composition of the Fund's portfolio and may take exposure to companies, countries or sectors not included in the benchmark.
The Fund’s benchmark (Barclays Capital Euro Aggregate Treasury 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 excess returns from investment decisions in interest rates, sovereign credit and currencies based on high quality forensic proprietary research
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Strong focus on monetary and fiscal policy and politics
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Decision making focussed on both long and short risk positions to be able to generate alpha in all market environments
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Strong emphasis on capital preservation means focus on total as well as
relative returns -
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 Fund invests predominately in European sovereign fixed income and takes risks in term structure, top down (beta) and bottom up (alpha) credit and modest active FX
Proprietary research with a deep understanding for policy and politics is key to our top down fundamental analysis, combined with valuation and technical analysis, provides a comprehensive assessment for every investment opportunity
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.
Kaspar Hense
BlueBay Senior Portfolio Manager, Investment Grade
Kaspar joined BlueBay Asset Management (which is now part of RBC Global Asset Management) in August 2014 and is a BlueBay Senior Portfolio Manager within the Investment Grade team. Prior to joining BlueBay, Kaspar worked for three years at Toronto Dominion Securities, in their global fixed income, capital markets group covering German clients. Previously, Kaspar spent six years' with Deutsche Asset and Wealth Management where he was responsible for the global aggregate bond strategy. Kaspar began his career at Merrill Lynch in 2005 as an analyst. He holds a Master's Degree in Financial Management from a joint programme of the Christian Albrechts University of Kiel and the University of San Diego; and a Master's Degree in Economics from the Christian Albrechts University of Kiel. Kaspar is a CFA charterholder.
Sheraz Hussain
BlueBay Portfolio Manager, Investment Grade
Sheraz joined BlueBay's Investment Grade portfolio management team in February 2005. Prior to joining BlueBay Asset Management (which is now part of RBC Global Asset Management), he was part of the actuarial team at SVB Syndicates Ltd., and was involved in developing the corporate dynamic financial analysis model. His main areas of focus were development of business planning with regards to risk based capital constraints, parameterisation and model construction. Sheraz attended the University of Warwick and holds a BSc (Hons) degree in Mathematics, Operational Research, Statistics and Economics.