Changes to Rolinco N.V., an investment institution according to Dutch law
The management board of Rolinco, Robeco Fund Management B.V., decided to change the investment policy as well as the fee structure.
Investment policy
Based on its current investment policy Rolinco may only invest up to 20% of its assets in other investment companies and funds (either affiliated or not) (hereinafter the “funds”). Without changing the overall profile of Rolinco, Rolinco wants to make more use of the various available capabilities within Robeco’s Equity Investment Department, by investing mainly in Robeco funds (1). The 20% restriction therefore needs to be removed.
As a result the investment policy will be changed to an indirect ‘in house’ (i.e. within the Robeco Group) multi manager concept. Instead of investing in a portfolio of around 100 stocks Rolinco will invest mainly in various Robeco funds (Robeco sector funds as well as other Robeco equity funds) (2). Mark van der Kroft, in his capacity as CIO Equities, member of the management company of Rolinco, Robeco Fund management B.V., and portfolio manager of Rolinco, is best equipped to spot the successful capabilities and to determine the allocation over the different performance drivers.
The overall consequence of this approach is that a multitude of experienced portfolio managers of Robeco’s Equity Investment Department will be contributing to the performance of Rolinco. An experienced team of portfolio managers will indirectly manage the majority of the assets of Rolinco.
Fee structure
As management board of Rolinco, we strongly believe we are improving Rolinco’s chances on higher outperformance by indirectly relying on the various equity capabilities of various portfolio managers. To show our own trust in these capabilities we will lower the fixed annual management fee and apply a variable performance fee that only will pay out as far and as long we will outperform the benchmark (after costs). The management fee will be decreased from 1.00% to 0.80% and a performance fee of 20% (of outperformance in excess of benchmark (the Citigroup World Growth Primary Market Index) returns after deduction of costs) will be introduced.
The changes will be implemented as of 14-05-2008.
A fund-of-fund strategy might result in fiscal consequences for investors in certain countries. Please consult your local tax advisor.
Should you have any questions, please contact your local Robeco representative.
- A Robeco fund is an investment institution that is connected to or managed by Robeco Fund Management B.V. or another entity that is a member of the Robeco Group.
- Rolinco is an equity fund investing worldwide, which mainly invests in large, liquid growth stocks, either directly as well as indirectly, through shares or units of other investment institutions (either affiliated or not).