BlueBay targets currency themes with sovereign debt fund

currency banknotes 410European fixed income specialist BlueBay Asset Management has launched a fund that blends developed and emerging market sovereign debt.

The active Global Sovereign Opportunities fund is Ucits compliant and will invest in global rate and currency themes across sovereign debt markets.

There is no benchmark and the performance target is 5-7% above the cash return, gross of fees, over the market cycle.

Mark Dowding, co-head of investment grade debt, and portfolio manager Russel Matthews, and co-head of emerging market debt, David Dowsett, are the managers.

Dowding said: “Fixed income investing is increasingly global, with boundaries blurred between developed and emerging markets. We see considerable opportunities to generate returns in global interest rates and sovereigns drawing on a seamless and flexible investment process.”

BlueBay Asset Management says currency themes will feature prominently the years ahead, as the world economy shifts into another phase of the credit cycle. The firm currently has around $57 billion (€52 billion) assets under management.

©2016 funds europe