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logo - RPIA
logo - RPIA

Investment Strategies
We offer a range of investment strategies reflecting the diverse risk and return objectives of our investors. There is a consistent investment philosophy behind all the strategies we manage – the belief that global corporate bond markets are inefficient and that active management can deliver additional returns for our investors.

Our solutions are grouped into mutual fund products offered via Prospectus and pooled strategies which are offered via Offering Memorandum.

Investment Strategies
Active Fixed Income
RP Fixed Income PlusFixed IncomeOffering Memorandum
RP Strategic Income Plus FundCore Credit FundProspectus
Alternative Fixed Income
RP Alternative Global Bond FundLiquid Alternative FundProspectus
RP Debt OpportunitiesAlternative CreditOffering Memorandum
RP Select OpportunitiesAlternative CreditOffering Memorandum
RP Broad Corporate Bond Index RelativeOffering Memorandum
RP Broad Corporate Bond (BBB, Fossil Fuel Exclusion) Index RelativeOffering Memorandum
Active Fixed Income

Fixed Income

RP Fixed Income Plus

RP Fixed Income Plus aims to generate a stable return, low volatility by investing in a portfolio of investment grade money market instruments, government bonds and high quality corporate bonds primarily on a long basis but with the ability to use cash-covered short positions to hedge interest rate risk. The strategy’s investment portfolio is actively managed with a low sensitivity to the direction of interest rates.

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Core Credit Mutual Fund

RP Strategic Income Plus Fund

RP Strategic Income Plus Fund seeks to generate stable risk-adjusted absolute returns consisting of dividends, interest income and capital gains by investing primarily in investment grade corporate debt and debt-like securities, with a focus on capital preservation.

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Alternative Fixed Income

Alternative Credit

RP Debt Opportunities

Investment Grade Long/Short Credit

RP Debt Opportunities is a global investment-grade focused credit strategy that seeks to generate strong risk-adjusted returns without benchmark constraints. The strategy gains exposure to its underlying investment portfolio by holding units of its applicable master feeder fund structure. The underlying portfolio invests primarily in investment grade debt securities on both an outright and long/short relative value basis. RPIA aims to generate returns through the use of strategies that include fundamental value and active trading. The portfolio has the flexibility to use leverage and short positions intended to help produce a return profile with low volatility and a focus on capital preservation.

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Liquid Alternative Mutual Fund

RP Alternative Global Bond Fund

Multi-Strategy Credit

RP Alternative Global Bond Fund seeks to generate attractive risk-adjusted returns with an emphasis on capital preservation. The Fund will invest primarily in investment grade debt and debt-like securities of corporations and financial institutions.

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Alternative Credit

RP Select Opportunities

Multi-Strategy Credit

RP Select Opportunities is a multi-strategy credit strategy that seeks to generate strong risk-adjusted returns, preserve capital and minimize volatility. The strategy gains exposure to its underlying investment portfolio by holding units of its applicable master feeder fund structure. The underlying portfolio invests globally in opportunities across credit asset classes including investment grade, high yield and preferred shares. In the management of the portfolio RPIA utilizes outright and relative value - alongside active trading.

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Index Relative

Index Relative

RP Broad Corporate Bond

Institutional, Long Only

RP Broad Corporate Bond is an actively managed credit strategy whose 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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Index Relative

RP Broad Corporate Bond (BBB, Fossil Fuel Exclusion)

Institutional, ESG Focused

The RP Broad Corporate Bond (BBB, Fossil Fuel Exclusion) strategy is an actively managed credit strategy whose primary objective is to outperform the FTSE Canada All Corporate BBB Ex Fossil Fuel Enhanced Bond Index by 100 bps net of fees on an annualized basis. The strategy extends on our longstanding Broad Corporate Bond investment process through the inclusion of 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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Unmatched Experience Meets a Unique Approach

Our Approach

For more than a decade, we have helped Canadian investors achieve their investment objectives by providing innovative fixed income solutions focused on corporate bonds. We firmly believe that there is a better way to manage bond portfolios than a passive “coupon-clipping” approach. We employ a highly active approach that focuses on generating steady returns and preserving capital during volatile markets. There are a number of aspects to our approach which mark us out as a unique investment manager.

We have assembled a team with deep expertise in managing bond portfolios, and paired this team with institutional quality risk management systems. We have committed to investing in proprietary technology and have been incorporating ESG factors in our decision-making process long before it became fashionable to do so. Finally, we have designed thoughtful investment solutions for our clients that provide them with a better risk-adjusted return from fixed income.

Active Management

Active management is all about the potential for an investment manager to add value over a passive and often cheaper approach to investing. When investors are allocating to more inefficient and less transparent asset classes, like fixed income, it can make sense to partner with an active manager who could add value.

Read more about our track record

Investment Process

We believe RPIA’s investment strategies have been constructed to generate risk-adjusted returns in all market environments. We aim to achieve this by building portfolios based on absolute risk-and-return targets rather than tracking fixed income benchmarks. This approach provides us with an opportunity to capitalize on what we believe are persistent inefficiencies in corporate bond markets and use additional tools with the aim of preserving capital. We blend deep-dive fundamental analysis with tactical trading strategies to achieve the goal of producing a unique return profile for our investors.

Risk Management

At RPIA, we are keenly aware that when it comes to managing our investors’ fixed income investments, prudent risk management and capital preservation in difficult markets is essential. In our view this starts with the quality, strength and experience of the people who are managing the capital day-in-day-out, backed up by continued investment in systems and technology.

See how we manage risk

Portfolio Fit

Meeting investment goals with a traditional portfolio of bonds and equities is likely going to get more and more difficult. The traditional approach of bonds and equities worked well in an era of all-time low interest rates and suppressed volatility. We believe that today’s asset valuations are at elevated levels, and so forward-looking return expectations are considerably lower than many of us have become accustomed to.

Learn about our strategies


Advancements in technology have had a dramatic impact on the investment industry. The instant availability of information has made it harder for investors to gain a knowledge advantage and the broad market’s quick reaction to financial news has increased market volatility. Fixed income markets have proven more difficult to automate, the human element in trading remains, and inefficiencies in valuation and pricing still exist. However, within the corporate bond market, proprietary technology can be used to help portfolio managers screen the market to find opportunities. We believe the best way to achieve success is to pair cutting edge technological tools with expertise in hands-on portfolio management.

How we use technology


We have a long-standing commitment to incorporating Environmental, Social and Governance (“ESG”) factors in our investment decisions. Not only does this mean an alignment of interest with many of our investors. It also means we’re incorporating an expanded range of risk factors when analyzing companies. Testament to this commitment, we are a signatory of the UN Principles for Responsible Investing – the industry gold standard when it comes to ESG investing.

Learn more about our commitment