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Key documents
Objective
The BlueBay Global High Yield Bond Fund (the Fund) is actively managed and its objective is to target better returns than its benchmark, the ICE BofA Merrill Lynch Global High Yield Constrained Index, fully hedged against USD, by investing in a global portfolio of fixed income securities. The Fund aims to provide a balanced exposure to the broader global high yield asset class with a focus on capital preservation. There are no restrictions on the extent to which the Fund's portfolio and performance may deviate from the ones of the benchmark.
Fund specific risks
- At times, the market for high yield 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 high yield bonds offers you the chance to gain higher returns through growing your capital and generating income. Nevertheless, there is a greater risk that the organisation which issued the bond will fail, which would result in a loss of income to the fund along with its initial investment
- 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.
Investment approach
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An actively managed strategy with a deep, fundamental research orientated approach which focuses on bottom-up security selection
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Active allocation within individual capital structures based on the asymmetric risks within each name
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Dynamic regional allocations driven by relative value cross border
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Top down macro inputs help inform thematic credit strategies and overall beta within the portfolio
Market opportunity
The BlueBay Global High Yield Bond Fund is a strategy designed to invest in high yield corporate bonds globally
Credit selection is driven by rigorous proprietary bottom up fundamental analysis with an emphasis on downside stress testing
Single name credit analysis is supplemented by economic, policy and political inputs which combine to help determine the sectoral and geographic composition of the portfolio as well as the overall beta of the strategy
The fund invests in both primary and secondary opportunities across secured and unsecured assets and has a specific focus on capital preservation
Andrzej Skiba
Head of US Fixed Income, BlueBay Senior Portfolio Manager
Andrzej joined BlueBay Asset Management (which is now part of RBC Global Asset Management) in February 2005 and, following the alignment of BlueBay's US business with RBC GAM-US in November 2021, is responsible for the US fixed income investment team based in Minneapolis (MN) and Stamford (CT). In 2013, Andrzej moved to the US from London to oversee the buildout of global investment grade capability. This followed a period from 2009, where he was a BlueBay portfolio manager responsible for corporate investments within BlueBay's IG strategies. Andrzej spent his first four years at BlueBay as a credit analyst covering the TMT, utilities and retail sectors for the Investment Grade team. Prior to BlueBay, Andrzej worked for Goldman Sachs as a credit analyst covering European investment grade telecom, media and utility sectors. Andrzej holds a BSc (Hons) in Management and International Business Economics from UMIST and is a CFA charterholder.
Tim Leary
BlueBay Senior Portfolio Manager, Leveraged Finance
Tim joined BlueBay Asset Management (which is now part of RBC Global Asset Management) in January 2012 and is a BlueBay Senior Portfolio Manager across several global leveraged finance and ESG strategies based in the Stamford, Connecticut, office. Tim joined BlueBay as Head of Trading, North America within the Global Leveraged Finance Group, before being promoted to portfolio manager in January 2017. Prior to BlueBay he was a director in high yield and distressed credit trading at the Royal Bank of Scotland. Before joining RBS, Tim spent three years as an analyst on the leveraged loan trading desk at Bear, Stearns & Co. Tim holds a BS in Business Administration with Finance concentration from Fordham University.