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.