BlueBay launches European bond unit

By Sophia Grene. This article originally appeared on FT.com on June 6th, 2010.

UK-based fixed income specialist BlueBay is launching a European government bond business and has hired a senior manager from Deutsche Asset Management to help run the planned new funds.

Although current turmoil in peripheral members of the eurozone combined with general economic malaise is putting many investors off European sovereign bonds, BlueBay sees this as an opportunity to add value through active management.

“BlueBay is launching a European government bond business to capitalise on the significant opportunity that the firm sees in offering investors new generation government bond and rates products,” said chief executive Hugh Willis.

BlueBay, which manages over $37bn (£25bn, €31bn) in fixed income assets, has hired Mark Dowding, formerly European head of institutional fixed income at Deutsche AM, as a senior portfolio manager. Mr Dowding will work closely with Raphael Robelin, BlueBay’s head of investment grade credit.

BlueBay plans to launch funds in both the European government bonds and the European aggregate bond space, combining both sovereign and corporate credit.

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