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Please read the following terms and conditions carefully. By accessing rbcgam.com and any pages thereof (the "site"), you agree to be bound by these terms and conditions as well as any future revisions RBC Global Asset Management Inc. ("RBC GAM Inc.") may make in its discretion. If you do not agree to the terms and conditions below, do not access this website, or any pages thereof. Phillips, Hager & North Investment Management is a division of RBC GAM Inc. PH&N Institutional is the institutional business division of RBC GAM Inc.

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Products and services of RBC GAM Inc. are only offered in jurisdictions where they may be lawfully offered for sale. The contents of this site do not constitute an offer to sell or a solicitation to buy products or services to any person in a jurisdiction where such offer or solicitation is considered unlawful.

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The material on this site has been provided by RBC GAM Inc. for information purposes only and may not be reproduced, distributed or published without the written consent of RBC GAM Inc. It is for general information only and is not, nor does it purport to be, a complete description of the investment solutions and strategies offered by RBC GAM Inc., including RBC Funds, RBC Private Pools, PH&N Funds, RBC Corporate Class Funds and RBC ETFs (the "Funds"). If there is an inconsistency between this document and the respective offering documents, the provisions of the respective offering documents shall prevail.

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About Our Funds

The Funds are offered by RBC GAM Inc. and distributed through authorized dealers. Commissions, trailing commissions, management fees and expenses all may be associated with the Funds. Please read the offering materials for a particular fund before investing. The performance data provided are historical returns, they are not intended to reflect future values of any of the funds or returns on investment in these funds. Further, the performance data provided assumes reinvestment of distributions only and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. The unit values of non-money market funds change frequently. For money market funds, there can be no assurances that the fund will be able to maintain its net asset value per unit at a constant amount or that the full amount of your investment in the fund will be returned to you. Mutual fund securities are not guaranteed by the Canada Deposit Insurance Corporation or by any other government deposit insurer. Past performance may not be repeated. ETF units are bought and sold at market price on a stock exchange and brokerage commissions will reduce returns. RBC ETFs do not seek to return any predetermined amount at maturity. Index returns do not represent RBC ETF returns.

About RBC Global Asset Management

RBC Global Asset Management is the asset management division of Royal Bank of Canada ("RBC") which includes the following affiliates around the world, all indirect subsidiaries of RBC: RBC GAM Inc. (including Phillips, Hager & North Investment Management and PH&N Institutional), RBC Global Asset Management (U.S.) Inc., RBC Global Asset Management (UK) Limited, RBC Investment Management (Asia) Limited, BlueBay Asset Management LLP, and BlueBay Asset Management USA LLC.

Forward-Looking Statements

This website may contain forward-looking statements about general economic factors which are not guarantees of future performance. Forward-looking statements involve inherent risk and uncertainties, so it is possible that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution you not to place undue reliance on these statements as a number of important factors could cause actual events or results to differ materially from those expressed or implied in any forward-looking statement. All opinions in forward-looking statements are subject to change without notice and are provided in good faith but without legal responsibility.

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The Strategy invests in interest rates, currencies and sovereign credits across developed and emerging markets. The strategy, which has no benchmark, translates top-down global macro themes into bottom-up individual asset selection, and has the flexibility to use cash and derivative instruments to generate alpha and minimise downside risk.

Strategy overview

  • BlueBay’s Global Sovereign investment team comprises 25 investment professionals with an average investment experience of 16 years
  • A five-stage investment process combines disciplined portfolio construction drawing on the expertise of the BlueBay Emerging Market and Investment Grade teams.
  • The portfolio managers have a compelling track record in successfully managing both absolute and total return strategies across global rates and currencies.

Our approach

Investment strategy

  • Investing primarily in government bonds, interest rates and currencies of developed (DM) and emerging markets (EM), the strategy will seek to generate returns from capital appreciation and income.
  • The strategy is built on established Investment Grade and Emerging Market institutional platforms
  • Team-based approach taken to identify market inefficiencies and capitalise on return opportunities
  • Top-down macro thematic conviction is based on deep fundamental country-level research and proprietary on-the-ground policy analysis.
  • Individual risk exposures are based on well-researched medium term structural investment decisions. Investment Strategy does not rely on short term tactical or technical trading.
  • Holding periods for positons vary depending on the specific characteristics of the opportunity, but will typically range between one week and several months.
  • Interest rate and sovereign credit strategies are typically implemented via developed and emerging market government bonds, interest rate futures, swaps and CDS contracts. FX exposure usually takes the form of forward FX positions or non-deliverable forward contracts
  • BlueBay believes that taking into account environmental, social and governance (ESG) factors is an important aspect of the investment process. As such, ESG integration – the systematic review of material ESG investment risks – is applied across all our strategies. We have been a UN-PRI signatory since 2013

Global investment grade expertise

  • Benchmark aware but benchmark agnostic – alpha focus
  • Very experienced team/analysts with a long/short investment mindset
  • Strong focus on capital preservation
  • Tends to perform best in negative risk markets, when issuer performance dispersion is high
  • Extensive users of credit default swaps – both index and single name – to most efficiently implement investment ideas

Additional information

Inception
December 2020
Primary benchmark
No benchmark
Vehicle
Segregated Account, Cayman, UCITS

Investment team

BlueBay Fixed Income team

Fixed income specialist providing progressive investment solutions

Connect with our team to learn more

Contact us

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