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The RBC Global Fixed Income and Currencies Team manages a broad range of global fixed income products. The team evaluates opportunities in global bond and currency markets by utilizing a proven investment process with a robust risk-management culture. We aim to build resilient portfolios that deliver consistent returns over the market cycle and preserve capital.

  • We take an active-management approach with a long-term investment horizon, aiming to deliver consistent returns and preserve capital over the market cycle.
  • We use a team-based approach in order to provide our clients with the full depth and breadth of our combined expertise and to ensure continuity in the event of management turnover.
  • We rely on intensive fundamental credit analysis of our credit team who also leverage the insights and capabilities of the firm’s equity teams.
  • We diversify globally in order to lower volatility and access more opportunities for earning excess returns (alpha).
  • We aim to outperform our funds’ benchmarks over a full market cycle through smart portfolio construction, tactical asset allocation, credit and security selection, as well as active currency and duration management.
  • We pay particular attention to portfolio construction and position sizing making sure that risks taken are proportional to opportunities available in the market at any given time.
  • We de-emphasize forecasting as an investment tool in favour of building portfolios which are resilient in a range of economic and market scenarios.
  • We believe that hedging foreign-currency risk is essential in core investment grade global bond portfolios.
  • We incorporate review of environmental, social and governance (ESG) risks into our investment process, believing that these factors are relevant to a complete assessment of credit risk and value of securities.

Multi-layered approach

We rely on a multi-layered approach that is methodical, consistent and empirical.

Top down perspective

We consider global fiscal & monetary conditions in relation to regional economic growth & inflation projections.

Bottom up security selection

The relative value of individual securities is assessed by a team of Portfolio Managers and Credit analysts who incorporate in depth industry/sector analysis.

Opportunistic credit use

We tactically manage allocations to various credit markets such as high yield and emerging market debt in line with risk/reward opportunities available.

Scenario Analysis

Rather than building portfolios for a single forecast, we conduct multiple scenario analyses in order to understand and compare potential outcomes and risk return profiles of our funds.

Foreign Exchange

We manage foreign-currency risk by hedging passive currency exposures back into Canadian dollars, and actively managing overlay positions to enhance returns.

Extended time horizon

We evaluate market opportunities for an 18-36 month time horizon which allows us to take advantage of market volatility.

Multiple strategies

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Tactical asset allocation

  • Gov't vs. credit
  • HY, EM Sov
  • EM Corp
  • Preferred bonds
  • Provincials
  • EMFX

Interest rates

  • Duration
  • Yield curve
  • Regional allocation
  • X-country trade
  • Inflation-linked bonds

Credit

  • Sector
  • Quality
  • Credit curve
  • Security selection

Currency

  • Hedging
  • Dynamic hedging
  • Overlay
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Funds we manage (34)

Our story

Managing people's wealth is a privilege. Our commitment to investors is personal, and we take that duty seriously.

Learn more about our story

Disclosure

Please consult your advisor and read the prospectus or Fund Facts document before investing. There may be commissions, trailing commissions, management fees and expenses associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. RBC Funds, BlueBay Funds and PH&N Funds are offered by RBC Global Asset Management Inc. and distributed through authorized dealers.