BlueBay Emerging Market Unconstrained Bond Fund

Key documents


    The BlueBay Emerging Market Unconstrained Bond Fund is an actively managed total return fund that dynamically manages Emerging Market (EM) exposures through the market cycle. The fund is actively managed as a portfolio of high conviction positions with flexibility on interest-rate, currency and credit exposures. The fund is designed to provide upside capture of EM asset class returns and strong downside protection.

    Sustainability-related disclosure


    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

    • Efficient risk management of the aggregate portfolio on multiple levels; by country exposures, factor risks and macroeconomic sensitivities
    • High conviction views are expressed through a combination of bottom-up fundamental, relative value and directional trades
    • Returns come from a variety of sources including opportunities that are overlooked within traditional EM products

    Market opportunity

    Provides an unconstrained approach to investing across the sub-asset classes of emerging market debt with daily liquidity
    The fund has a flexible investment remit, whose nature allows us to express high-conviction views on credit and market opportunities in emerging market sovereign debt, local currency debt and corporate debt across all parts of the credit cycle
    The unconstrained nature of the fund means we can access multiple alpha sources and have the ability to potentially exploit inefficiencies in all market conditions, with the ability to hold short positions through derivatives
    Our focus is on capital preservation and we gain insight from our fundamental research
    Polina Kurdyavko 350 x 290.jpg

    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.

    Anthony Kettle 350 x 290.jpg

    Anthony Kettle

    Partner, Senior Portfolio Manager, Emerging Markets

    Anthony is a Senior Portfolio Manager within the Emerging Markets Team. Anthony joined RBC BlueBay in March 2006 and his primary portfolio management responsibilities include the EM long-short credit strategy, the EM Unconstrained Bond Fund and the suite of EM Corporate long only funds. Prior to joining RBC BlueBay, he held a management position at National Australia Bank. Anthony holds a Bachelor of Commerce degree from the University of Melbourne, a Graduate Diploma in Applied Finance and Investment from the Australian Securities and Investments Commission, and is a CFA charterholder.