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Institutional Investors

 
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Our Solutions

Our Solutions

We serve a broad range of investors through a variety of solutions catering to their unique investment goals. We apply our differentiated active skillset in all our strategies, which vary from low-risk to higher-risk. Although our toolkit and risk/return levels vary across our suite of products, our credit expertise, proprietary technology, and rigorous risk management is applied throughout. We have collaborated closely with institutional investors in developing several of our strategies to ensure that the portfolio mandate aligns with their long-term investment objectives.

RPIA Develops Carbon-Reduced Fixed Income Solution

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Investment Process

Investment Process

RPIA's approach is to apply a highly active, dynamic investment process that enables us to consistently extract value from the global credit market, driven by security selection. Investors do not need to compromise on credit quality or sacrifice liquidity to improve their portfolio returns. Our active approach can be distilled into four steps:

1. The Investment Committee uses their expertise and experience to collaborate and identify a key theme based on prevailing macroeconomic conditions.

2. The Credit Research Team conducts deep-dive research to determine the most compelling issuer, drawing from their knowledge of the sectors each team member covers.

3. We utilize our proprietary technology and expertise to identify the most attractively priced bond within that issuer's capital structure

4. The Portfolio Management Team sizes the position accordingly within the strategy based on factors such as conviction level, existing exposures, and liquidity considerations to name a few.

The entire process is overseen by our independent Risk Management Team and Committee who analyze policy constraints, stress testing, and concentrations across strategies.

RPIA Proprietary Technology Chart
Our Strategies

Our Strategies

RPIA offers a range of investment strategies reflecting our investors' diverse risk and return objectives. Our flagship institutional long-only strategy is RP Broad Corporate Bond, which has evolved into a suite of strategies for specific goals in collaboration with investors. In addition to our institutional-focused mandates, we also offer absolute return-focused strategies.

1. Long-Only Strategies

  • RP Broad Corporate Bond
  • RP Broad Corporate Bond (BBB, Carbon-Reduced)

2. Alternative Credit & Fixed Income

  • RP Debt Opportunities
  • RP Select Opportunities
  • RP Fixed Income Plus

3. Mutual Funds

  • RP Strategic Income Plus Fund
  • RP Alternative Global Bond Fund
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ESG

ESG

RPIA considers Environmental, Social, and Governance ("ESG") factors when making investment decisions for all the strategies we manage. When we include these factors alongside traditional financial metrics, we can think more broadly about risk and make more prudent investment decisions. In other words, it is in the best interests of our investors to integrate ESG into our process. Through our in-depth credit research, we are in regular communication with the management teams of the issuers in which we invest. We have also partnered with an institutional investor to design a strategy that targets specific ESG outcomes and, in this case, an Environmental outcome. We have been a signatory to UN PRI since 2018 and have several other industry memberships ( learn more).

Download Our ESG Policy Read Our 2021 Sustainability Report

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Explore Our Funds

RP Broad Corporate Bond

This actively managed credit strategy's primary objective is to outperform the FTSE Canada All Corporate Bond Index net of fees in a risk-controlled manner. The strategy aims to add value through superior credit selection across global credit markets and avoid uncompensated interest rate risk by remaining duration-neutral versus the benchmark.

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RP Broad Corporate Bond (BBB, Carbon Reduced)

An actively managed credit strategy whose primary objective is to outperform the FTSE Canada Corporate BBB Index net of fees by 100 bps on an annualized basis. The strategy extends on our longstanding Broad Corporate Bond investment process by including explicit ESG targets. Investments in tobacco and munitions are prohibited, and the strategy aims to keep the carbon intensity at least 30% lower than the index.

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Market Commentary

Nuclear Power: a necessary step in the path to net-zero

November, 2021

Bruce Power LP announced a C$500 million ($395.6 million USD) bond sale on Thursday after holding meetings this week to discuss its green financing framework, which includes reaching net-zero emissions by 2027. Under the ICMA Green Bond Principles, the use of proceeds is one of the most important aspects of sustainable financing. In this case, Bruce Power plans to use proceeds from the bond sale to help fund an overhaul of nuclear reactors, a decision that will challenge many sustainable debt investors.

Why is this a challenge for sustainable debt investors?

Allocating proceeds for nuclear power has been under debate due to concerns about waste disposal, potential weapons proliferation, and the chance of accidental radiation, which can have devastating consequences. The other side of the debate is how nuclear power can help transition from brown to green.

Aaron Young, who has a deep understanding of sustainable finance, offered our view on this debate:

Nuclear can act as the bridge between the phase-out of high carbon/low-cost electricity sources (coal, natural gas) and the scaling of renewables over time to become the dominant, reliable source of electricity in the future. Because waste management poses an important ecological and social risk for any nuclear operation, we think the market has to be selective in choosing from which jurisdictions Green bonds are issued with the use of proceeds linked directly to nuclear power generation.” – Aaron Young, Associate Portfolio Manager – ESG


What does this mean for Bruce Power’s issuance?

Ryan Vaughn, who focuses on the energy sector, commented on the deal and its significance on the article published by Bloomberg:

This deal will definitely be an interesting one to watch as nuclear is the subject where we see ESG-focused investors most split…. [At RPIA,] we view nuclear as a transition technology which poses higher ecological risks versus renewables, but that has an important role to play in the global path to net-zero.”  – Ryan Vaughn, Portfolio Manager – Energy Sector


Bruce Power currently produces 30% of Ontario’s energy and, as a result, plays a vital role in our national pathway to net-zero. This will be an interesting space to watch as the European Union, the global leader on green financing, is weighing the inclusion of this particular use of proceeds in its green rulebook for investments.


Click here to read the full Bloomberg article

 

 

ESG Articles

Nuclear Power: a necessary step in the path to net-zero

November, 2021

Bruce Power LP announced a C$500 million ($395.6 million USD) bond sale on Thursday after holding meetings this week to discuss its green financing framework, which includes reaching net-zero emissions by 2027. Under the ICMA Green Bond Principles, the use of proceeds is one of the most important aspects of sustainable financing. In this case, Bruce Power plans to use proceeds from the bond sale to help fund an overhaul of nuclear reactors, a decision that will challenge many sustainable debt investors.

Why is this a challenge for sustainable debt investors?

Allocating proceeds for nuclear power has been under debate due to concerns about waste disposal, potential weapons proliferation, and the chance of accidental radiation, which can have devastating consequences. The other side of the debate is how nuclear power can help transition from brown to green.

Aaron Young, who has a deep understanding of sustainable finance, offered our view on this debate:

Nuclear can act as the bridge between the phase-out of high carbon/low-cost electricity sources (coal, natural gas) and the scaling of renewables over time to become the dominant, reliable source of electricity in the future. Because waste management poses an important ecological and social risk for any nuclear operation, we think the market has to be selective in choosing from which jurisdictions Green bonds are issued with the use of proceeds linked directly to nuclear power generation.” – Aaron Young, Associate Portfolio Manager – ESG


What does this mean for Bruce Power’s issuance?

Ryan Vaughn, who focuses on the energy sector, commented on the deal and its significance on the article published by Bloomberg:

This deal will definitely be an interesting one to watch as nuclear is the subject where we see ESG-focused investors most split…. [At RPIA,] we view nuclear as a transition technology which poses higher ecological risks versus renewables, but that has an important role to play in the global path to net-zero.”  – Ryan Vaughn, Portfolio Manager – Energy Sector


Bruce Power currently produces 30% of Ontario’s energy and, as a result, plays a vital role in our national pathway to net-zero. This will be an interesting space to watch as the European Union, the global leader on green financing, is weighing the inclusion of this particular use of proceeds in its green rulebook for investments.


Click here to read the full Bloomberg article

 

 

Relationship Team

 
Headshot of Liam O'Sullivan

Principal, Co-Head of Client Portfolio Management

Headshot of Ann Glazier Rothwell

Principal, Co-Head of Client Portfolio Management

Headshot of Zach Barsky

Vice President, Client Portfolio Management