BlueBay US High Yield Bond Fund

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    Objective

    The BlueBay US High Yield Bond Fund (the Fund) is actively managed, and its objective is to target better returns than its benchmark, the ICE BofA US High Yield index, by investing in a portfolio of fixed income securities. The Fund seeks to achieve a high level of total return consisting of income and capital appreciation. 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

    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
    • The liquidity of a security can fluctuate over time due to market conditions. Reduced market activity or participation and increased market restrictions or impediments may result in greater liquidity risk
    • As nominal interest rates rise, the value of fixed income securities held by the fund is likely to decrease. Securities with longer durations tend to be more sensitive to changes in interest rates, usually making them more volatile than securities with shorter durations
    • 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

    • An actively managed strategy with a deep, fundamental research-oriented approach.

    • The Fund seeks to generate excess returns via superior sector and security selection, based upon high quality, proprietary research.

    Market opportunity

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    The BlueBay US High Yield Bond Fund is a strategy designed to invest predominantly in US sub-investment grade corporate debt

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    Credit selection is driven by rigorous proprietary bottom up fundamental analysis with an emphasis on downside stress testing
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    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
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    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.

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    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.

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    Charles Whinery

    Portfolio Manager, US Fixed Income

    Charles is a portfolio manager on the BlueBay Fixed Income Team at RBC Global Asset Management (US) Inc., focusing on U.S. fixed income and responsible for coverage within the Global Leveraged Finance group. He assumed this role in March 2021 after 11 years as an analyst and then head of High Yield Research in North America within the same group. Prior to joining the organization, Charles had experience analyzing U.S. high yield credits in healthcare, technology, and telecom sectors at MFS Investment Management and Gannet Welsh & Kotler. He started his career in the investment industry in 1996 with Scudder Stevens & Clark and Bear Stearns.

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