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Terms & conditions
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Key documents
Objective
The Fund's objective is to achieve returns in excess of 3-month EURIBOR, primarily by investing in senior secured loans and other senior debt obligations issued by corporate borrowers rated below investment grade. We target relatively liquid investments domiciled in Europe and the United States.
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
For share class information, please contact marketing@bluebay.com
Investment approach
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Senior secured loans offer what we view as compelling relative value on an absolute and risk-adjusted basis:
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Loans offer attractive current income with lower price volatility
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As floating rate instruments, loans offer future upside as rates rise
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Loans benefit from contractual covenants which seek to control cash flows and protect the interests of creditors
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Loans have higher levels of security when compared to other fixed income instruments, leading to higher recovery rates in the event of default
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Market opportunity
Invests in liquid loans in Europe and the US
Sid Chhabra
Managing Director, Head of European High Yield, Securitized Credit and CLO Management, BlueBay Senior Portfolio Manager
Sid is Head of European High Yield, Securitized Credit and CLO Management, and a BlueBay Senior Portfolio Manager within the team. Sid joined BlueBay Asset Management (which is now part of RBC Global Asset Management) in June 2018 and has over 19 years of credit, securitized credit and CLO experience, having been involved in the securitized credit markets from the earliest stages of issuance. He was most recently a London-based Managing Director, responsible for securitized credit and CLOs, at Anchorage Capital Europe, a USD15 billion alternative investment manager. Prior to Anchorage, Sid was part of the Securitized Credit/CDO Group, EMEA, at JPMorgan where he was involved in originating, structuring and investing in securitized credit products. Sid holds a BTech from the Indian Institute of Technology, Madras (IITM) and an MS from the London School of Economics.
Ash Wright
Portfolio Manager, Leveraged Finance
Ash is a BlueBay Portfolio Manager and has responsibility for co-managing the Buy and Maintain High Yield and European Loan strategies. Ash joined BlueBay Asset Management (which is now part of RBC Global Asset Management) in November 2003 as an operations analyst and the Global Leveraged Finance team in January 2005. He has been instrumental in driving the success of the Global Leveraged Finance Group and Securitized Credit business and has deep understanding of front to back issues impacting leveraged finance investing. Prior to BlueBay he worked at Goldman Sachs in the Equity Middle Office and holds a BSc (Hons) degree in Sport Science from Kingston University.
Tim van der Weyden
Portfolio Manager, Leveraged Finance
Tim joined BlueBay Asset Management (which is now part of RBC Global Asset Management) in February 2007 as a Trader within the Global Leveraged Finance Group. Prior to BlueBay, Tim worked at Deutsche Bank in trade support on the propriety trading desk. Tim holds a BA of Commerce from the University of Sydney and is a CFA charterholder.