RBC Global Asset Management launched an emerging markets bond fund that can invest in junk bonds, the Toronto-based asset manager confirmed Monday.
The bond fund, RBC Emerging Markets Bond Fund, is available to institutional and individual investors in Canada, the only “pure emerging market bond fund” that is, according to RBC’s announcement.
The lead manager of the fund, Senior Portfolio Manager Jane Lesslie, “has the ability to employ high yield bonds in the portfolio as part of the active management strategy,” a spokeswoman said.
RBC said the fund will invest in government and corporate bonds in countries including Brazil, China, Columbia, Indonesia, Lebanon Malaysia, Peru, the Philippines, Poland, South Africa, Turkey and Venezuela.
Leslie said in a statement that emerging markets have had growth rates above global averages and have positioned themselves as attractive places for investment.
RBC Global Asset Management is part of RBC Wealth Management, which has almost C$240 billion ($228 billion) in assets under management.