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Veteran pair step back from €2.7bn BlueBay fund

Veteran pair step back from €2.7bn BlueBay fund

Raphael Robelin and Geraud Charpin have stepped back from managing the €2.7 billion BlueBay Investment Grade Absolute Return Bond fund amid wider changes to the unit, Citywire Selector has learned.

The duo, along with Citywire AA-rated Mark Dowding, had co-run the absolute return strategy since its launch in 2012. However, their posts are now filled by Andrzej Skiba and Vinit Patel.

These moves also see Citywire AA-rated Robelin, who is co-head of the investment grade team, relinquish his role on the BlueBay Investment Grade Euro Aggregate Bond and Financial Capital Bond funds.

In the first instance he is replaced on the four-strong team by Kaspar Hense. There is no direct substitute on the Financial Capital Bond fund, as his former co-managers Marc Stacey and Justin Jewell remain in place.

Robelin remains a named lead manager on four funds, including the Investment Grade Bond and Euro Investment Grade Government Bond funds. Charpin, however, retains his role as a named manager on the BlueBay Investment Grade Libor fund, which is co-run by Robelin, Dowding and Patel.

In a statement to Citywire Selector, a spokesperson for BlueBay AM said: ‘BlueBay’s Investment Grade team has been making adjustments to the portfolio management responsibilities in the team.

‘The changes reflect the increased focus on the alternative and absolute return strategies going forward and highlight the depth of talent in the team.’

The spokesperson said Robelin and Dowding would continue to co-head the team with oversight across all strategies, but it is not necessary for them to remain named managers on strategies they do not actively manage on a day-to-day basis.

‘There have been no departures as a result of these changes and clients have been made aware of the adjustments. Raphael Robelin also continues to be CIO at BlueBay Asset Management,’ the spokesperson added.

The BlueBay Investment Grade Absolute Return fund came into focus in July of last year when it emerged it had lost €2.55 billion over the 12 month period. This saw it drop from €5.68 billion to €3.13 billion, while it now sits at €2.75 billion, according to Lipper data to the end of December 2016.

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Related Fund Managers

Andrzej Skiba
Andrzej Skiba
24/48 in Bonds - Absolute Return EUR (Performance over 3 years) Average Total Return: 2.68%
Mark Dowding
Mark Dowding
41/48 in Bonds - Absolute Return EUR (Performance over 3 years) Average Total Return: -4.12%
Geraud Charpin
Geraud Charpin
40/48 in Bonds - Absolute Return EUR (Performance over 3 years) Average Total Return: -2.24%
Raphael Robelin
Raphael Robelin
39/48 in Bonds - Absolute Return EUR (Performance over 3 years) Average Total Return: -2.24%
Justin Jewell
Justin Jewell
12/670 in Bonds - Global (Performance over 1 year) Average Total Return: 17.26%
Marc Stacey
Marc Stacey
11/670 in Bonds - Global (Performance over 1 year) Average Total Return: 17.26%
Kaspar Hense
Kaspar Hense
150/257 in Bonds - Euro (Performance over 3 years) Average Total Return: 7.32%
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