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Key documents
Objective
The BlueBay Total Return Credit Fund (the Fund) is actively managed, does not reference any benchmark and aims to achieve a total return from investments in higher yielding fixed income asset classes through active security selection, asset allocation and capital preservation techniques. The Fund is a multi-asset credit strategy that provides diversified, global exposure, primarily to sub-investment grade credit throughout the credit cycle.
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
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We seek to achieve a harmony between top-down and bottom-up views
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Dynamic asset allocation seeks to take advantage of relative value within the sub-asset classes over the medium term
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Specialist portfolio managers select their best ideas within each asset class
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Focus on capital preservation: bottom-up preservation of capital through best ideas credit selection; top-down capital preservation through asset allocation and liquid portfolio hedging strategies
Market opportunity
The Fund has been developed to meet investor demand for a more flexible, non-benchmark-driven approach to credit markets, and allows active shifts between areas of the market in a timely fashion
The Fund aims to contain only our best ideas across global high yield, loans, financial capital bonds, convertible bonds and emerging market debt
Mark Dowding
Chief Investment Officer, RBC BlueBay Asset Management
Mark is RBC BlueBay's Chief Investment Officer. He has over 26 years' investment experience as a macro fixed income investor and has been a senior portfolio manager at RBC BlueBay since he joined in August 2010. As a macro risk taker, Mark actively pursues an open dialogue with policy makers and opinion formers, believing that proprietary research is key to gaining insights in order to generate strong investment returns. Prior to joining RBC BlueBay, Mark was Head of Fixed Income in Europe for Deutsche Asset Management, a role he previously occupied at Invesco. He started his career as a fixed income portfolio manager at Morgan Grenfell in 1993 and holds a BSc (Hons) in Economics from the University of Warwick.
Raphael Robelin
Head of Multi Asset Credit, Credit Strategy & Asset Allocation
Raphael is Head of Multi-Asset Credit at RBC BlueBay. He has over 25 years’ investment experience and was Co-CIO and then sole CIO of RBC BlueBay from January 2014 to May 2019. Raphael has had overall responsibility for the investment grade debt portfolios and held key portfolio management roles during his time at RBC BlueBay. Raphael joined RBC BlueBay in August 2003 from Invesco where he was a portfolio manager for investment grade funds. Prior to that, he was a portfolio manager with BNP Group and Saudi International Bank. Raphael holds a degree in Engineering (IT) and Applied Mathematics from EFREI as well as a Master's in Management and International Finance from La Sorbonne, Paris.
David Riley
Partner, Chief Investment Strategist, BlueBay Asset Management
David joined BlueBay in September 2013 and is Partner and Chief Investment Strategist within the Chief Investment Office. He is a member of BlueBay's asset allocation team that manages some USD6 billion of multi-asset credit strategies. David chairs the weekly Investment Forum of BlueBay's portfolio managers, as well as the monthly Corporate Credit Group. Drawing on more than 20 years of applied macroeconomic, policy and sovereign credit experience, David offers investment insights as well as developing and articulating BlueBay's broad macro and corporate credit views. David was previously global head of Fitch's Sovereign and Supranational Group, responsible for more than 130 ratings of the world's largest fixed-income issuers. Prior to Fitch, David was a senior economist at UBS Investment Bank and at HM Treasury where he advised on international economic and debt issues, including representing the UK at international debt restructuring negotiations at the Paris Club of Official Creditors. David holds an MSc from Birkbeck College, University of London and a first-class degree in Economics.
Jean-Philippe Blua
Head of Investment Risk and Performance, Risk & Performance
Blair Reid
Partner and Senior Portfolio Manager, Multi-Asset and Income
Blair is a Senior Portfolio Manager leading the Multi-Asset & Income Team at RBC BlueBay. Prior to joining RBC BlueBay in August 2013, Blair worked for Goldman Sachs Asset Management for six years as a lead portfolio manager in the fixed income team, specialising in emerging market debt and FX. Previously he worked for Barclays Global Investors and Aon (now Aon Hewitt), where he was an investment consultant. He holds an MBA from London Business School, a Bachelor of Economics from Macquarie University in Sydney and is a Fellow of the Institute of Actuaries.
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