BlueBay Asset Management
One of the most commonplace irritants for gatekeepers is the lack of humility when asset managers discuss their products and performance. But BlueBay’s Asia team has a certain kind of modesty in a sector where front-office staff often feel they are unheralded for their firm’s success.“Without being derogatory, sales are a dime a dozen,” says Ciaran McCassey, head of sales, Australia and New Zealand at BlueBay Asset Management. “Our function is to facilitate portfolio managers’ communications to investors.”
Its reserved sales culture is further pronounced by the fact that senior staff have invested in the funds they sell. Unlike the salesman who might sell and move on regardless of performance, the vested interest of BlueBay’s sales staff offers peace of mind because both sides are monitoring ongoing developments in the portfolio.
“When clients call us about negative performance, they share the empathy or sympathy because we have risk capital in the business,” McCassey says. “Not that this will negate losses but they understand that we shared the pain as much as the good times with them.”
With a smaller team than many of its competitors in the region, McCassey believes that the intimate approach by BlueBay towards its clients leads the firm to associate performance with the individuals within the firm.
BlueBay’s position as a pioneer in using derivatives in portfolios and the growing reception to absolute return strategies has allowed the London-headquartered asset manager greater flexibility in achieving returns while also meeting the region’s unending demand for yield. With the trend towards global diversification unlikely to reverse in the foreseeable future, selectors tagged BlueBay Asset Management as their provider of choice in the asset class and Asian Private Banker’s Best Fund Provider – Europe Bond.
“It’s a great privilege and a humbling experience to be recognised by gatekeepers and the directly by the clients we work for,” McCassey says. “I just want to say thank you to everyone for the award.”