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Key documents
Objective
The BlueBay Emerging Market Local Currency Corporate Bond Fund (the Fund) invests in fixed income securities of emerging market (EM) corporate issuers denominated in local currencies. The investment process follows a dynamic approach where fundamental analysis is combined with relative value analysis across credit, FX and rates with a particular emphasis on bottom-up credit selection and capital preservation.
Sustainability-related disclosure
The Fund is actively managed and its objective is to generate a total return in excess of the BofA Diversified Local Emerging Markets Non-Sovereign Index.
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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Fundamental analysis: We believe in the value of deep, labour‐intensive, bottom‐up fundamental credit analysis across sovereign and corporate debt markets
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Capital preservation: Borne out of our heritage in running long‐only and long‐short portfolios, an absolute return, capital preservation mind-set is at the core of how we invest
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Risk management: Risk control and risk management is key to how we invest money, leveraging the in‐house skills of our risk team
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Liquidity: In a world of significantly diminished market liquidity post the global financial crisis, we believe a focus on liquidity is of paramount importance in the way we invest
Market opportunity
Alpha potential: We feel the investment universe is vast in potential and rich in diversity. The lack of dedicated investors in this space makes this, in our view, an asset class rich in investments with asymmetric risk return profile
Polina Kurdyavko
Head of Emerging Market, Senior Portfolio Manager, Emerging Markets
Polina is Head of Emerging Markets and Senior Portfolio Manager at RBC BlueBay. In addition to oversight of investments across all EM strategies, Polina is also a lead portfolio manager for several flagship funds in EM sovereign, credit and local markets, including long only and alternative products. Polina started her career in emerging markets after the Russian financial crisis in 1998 and has, since then, gained expertise across a broad range of emerging market financial assets. Polina joined RBC BlueBay in July 2005 from UBS where she was a credit analyst in EM corporate research. Her role encompassed coverage of EM issuers as well as research support for primary issuance of corporate debt. Prior to this, Polina was with Alliance Capital where she was an emerging markets equity analyst and then moved on to pioneer emerging markets quantitative research at the firm. She started her career in a macro research boutique in Russia. Polina holds an MSc (Hons) in Finance from the People's Friendship University of Russia, Moscow, is a CFA charterholder, and holds the CFA Certificate in ESG Investing.
Brent David
Senior Portfolio Manager, EM Currency
Brent joined RBC BlueBay in March 2014 as a Portfolio Manager within the Emerging Markets Team specialising in EM corporate bond portfolios. Brent has been the lead portfolio manager for the EM Local Currency Corporate Debt Strategy from its inception in July 2014. In September 2017, Brent was appointed Senior Portfolio Manager for the EM sovereign local currency portfolios, working closely with the sovereign debt specialists. Prior to joining RBC BlueBay, Brent worked for 12 years on the sell-side, for Credit Suisse, Barclays Capital and Deutsche Bank, in emerging markets as a local currency fixed income, rates and FX trader. He holds a BEng (Industrial Engineering) degree from the University of Pretoria in South Africa.