RBC BlueBay Ultra-Short Fixed Income Fund Class I
RUSIX
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- RBC BlueBay Ultra-Short Fixed Income Fund (RUSIX) is an open-end mutual fund that seeks a high level of current income consistent with preservation of capital by investing, under normal circumstances, at least 80% of its assets in fixed income securities, including bonds, convertible securities, municipal securities, mortgage-related securities, asset-backed securities, and obligations of governments and their agencies; the fund may invest in securities with fixed, floating, or variable rates of interest and up to 25% of its net assets in non-investment grade (high yield/junk bond) securities. It emphasizes short-duration, limited interest-rate sensitivity investments in the ultrashort bond category, with allocations primarily to corporate bonds (approximately 52.65%), asset-backed securities (34.42%), cash equivalents (8.91%), non-agency residential mortgage-backed securities (3.87%), and agency mortgage-backed securities (0.15%); top holdings include Bank of America Corp. 5.08%, Charles Schwab Corp. 4.13%, and Wells Fargo & Co. 3.526%. The fund, part of RBC Funds Trust and advised by RBC Global Asset Management (U.S.) Inc., distributes monthly dividends, has a net expense ratio of 0.29%, and targets institutional investors with a $10,000 minimum initial investment. Launched on December 30, 2013, and domiciled in the United States, it operates primarily in U.S. and non-U.S. bond markets with total net assets of approximately $65 million. Recent changes include the addition of portfolio managers Eric Hathaway and John Northup on February 16, 2024, alongside longstanding manager Brian Svendahl, strengthening the team's expertise from BlueBay and RBC Global Asset Management.