RBC Global Asset Management launches absolute return fixed income fund
RBC Global Asset Management has launched RBC BlueBay Absolute Return Fund, a fixed income mutual fund sub-advised by BlueBay Asset Management, a specialist fixed income and alternative asset manager.
The fund is available to institutional and high-net-worth investors across the US.
"The global financial crisis and current low yielding environment have induced investors to re-think traditional approaches to fixed income portfolios," says Mark Dowding (pictured), co-head of investment grade fixed income at BlueBay Asset Management and a senior portfolio manager of the RBC BlueBay Absolute Return Fund. "We recognised this need and are pleased to offer investors the additional choice of globally diversified fixed income exposure through a fund focused on generating alpha and maximising risk-adjusted returns."
The RBC BlueBay Absolute Return Fund has a flexible duration and is designed to take advantage of rising or falling government yield and credit spread environments. The fund invests across global interest rates, sovereign and non-sovereign credit as well as across currencies, utilising cash and derivative securities. This makes it unique in the US market. The fund is an investment option for qualified investors seeking diversification to a traditional long-only core fixed income portfolio.
Class I shares of RBC BlueBay Absolute Return Fund are offered solely to individuals and institutions with a minimum USD1m initial investment. The fund is also expected to be available through various financial intermediaries.
The absolute return investment strategy is also offered as an institutional separate account with a minimum investment of USD250m.
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