Robeco Global Consumer Trends Equities IH USD
- Invests in consumer exposed companies worldwide (e.g. leading digital platforms, media companies, online travel agencies, luxury manufacturers and strong consumer brands)
- Top-down trend selection and bottom-up stock selection using proprietary valuation models
- Risk limitation through diversification over multiple trends with different drivers and risk characteristics
About this fund
Price development
Performance
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundPerformances.date,'llll') ]}}| Fund | Reference index | |
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| {{'fund.detail.performance.period.sinceInception' | labelize:[ fundDate(fund.fundPerformances.sinceStart.startDate,'MM-YYYY') ]}} |
Annualized (for periods longer than one year).
Cumulized (total amount of return).
Performances are gross of fees and based on closing values. In reality, costs (such as management fees and other costs) are charged. These have a negative effect on the returns shown.
Performances are net of fees and based on transaction prices.
| Fund | Reference index | |
|---|---|---|
Annualized (for periods longer than one year).
Cumulized (total amount of return).
Performances are gross of fees and based on closing values. In reality, costs (such as management fees and other costs) are charged. These have a negative effect on the returns shown.
Performances are net of fees and based on transaction prices.
Statistics
{{'fund.detail.general.perDate' | labelize:[ fundDate( (fund.fundStatistics.date?fund.fundStatistics.date:fund.fundCharacteristics.date) ,'llll') ]}}| 3 years | 5 years | ||
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Market development
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}Equity markets clinched their best first year half in more than two decades, partly due to optimism over a US-China trade deal, as well as relief caused by the Federal Reserve’s shift in posture, which signals that it is leaning toward cutting interest rates. The M&A wave continues with three large deals of USD 200 billion in total announced last month. The Standard & Poor’s 500 Index increased by 6.9% in June, bringing total gain in first half of year at 17.3%. The FTSE Eurotop 100 Index, consisting of the 100 largest pan-European companies, gained 4.55 to a total gain of 15.3% in 2019. In Tokyo, the Japanese Topix Index only gained 2.6% in June, only up a minor 4% in 2019. Finally, emerging market stocks rebounded by 4% last month, giving them a gain in first half of 11%, which is well below developed market gains of ca 17%.
Fund allocation
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundAllocations.date,'llll') ]}}| Name | Sector | Weight |
|---|---|---|
Fund Classification
| Yes | No | N/A | ||
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| Voting | ||||
| Engagement | ||||
| ESG integration | ||||
| Exclusion |
| Yes | No | N/A | ||
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| Sustainability Themed Fund |
Currency policy
Currency risk is hedged to USD.
Dividend policy
The fund does not distribute dividend. Any income earned is retained, and so the fund's entire performance is reflected in its share price.
ESG Integration policy
Robeco Global Consumer Trends Equities integrates ESG factors into its investment process by analyzing the impact of financially material ESG factors to a company’s competitive position and value drivers. We believe that this enhances our ability to understand existing and potential (long-term) risks and opportunities of a company. The impact of material ESG factors can be positive or negative, reflecting risks or opportunities, that ensue from a company’s ESG analysis. If ESG risks and opportunities are significant, the ESG analysis could impact a stock’s fair value and the portfolio allocation decision. In addition to ESG integration, Robeco also has an exclusion policy and conducts proxy voting and engagement activities focused on specific themes, such as climate change, aiming to improve a company’s sustainability profile.
Investment policy
Allocation to long-term growth trends offer possibilities of outperforming the broader market over a 3-5 year investment horizon. This trend fund invests in companies in consumer-related industries worldwide that benefit most from the selected long-term trends. Global population growth, urbanization, higher household incomes, technological changes and growth in emerging markets are the main drivers for our trend strategies. The fund managers select the companies that have as pure as possible exposure to the selected trends and themes. Proprietary valuation models are used to select stocks with good earnings prospects and a reasonable valuation. Companies are individually assessed on the basis of in-depth discussions with corporate management and consultations with internal and external analysts. This Sub-fund may invest in China A-shares via the QFII and/or a Stock Connect Programme which may entail additional clearing and settlement, regulatory, operational and counterparty risks.
Risk policy
Risk management is fully integrated into the investment process to ensure that positions always meet predefined guidelines.
Expectation of fund manager
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}Macroeconomic data continues to point to relatively slow growth for the global economy. The Federal Reserve recently shifted towards a more dovish stance, citing rising uncertainties in the US economic outlook. In Europe, economic momentum remains slow and interest rates hover near the zero lower bound and are negative in countries like Germany, Switzerland and the Netherlands. Emerging markets continue to show higher growth, although here too the market is concerned about the impact of the trade war on Chinese growth.
Jack Neele & Richard Speetjens
Mr.Jack Neele, Portfolio Manager within the Robeco Trends Investing Equities team since April 2006. Before managing the Robeco Global Consumer Trend Equities fund, Jack was responsible for Robeco IT Equities fund. Prior to joining Robeco in 2006, Jack was employed by Mees Pierson as a portfolio manager active global equity for seven years, also responsible for alternative investments. Jack started his career in the investment industry in 1999. He holds a Master's degree in Econometrics from the Erasmus University Rotterdam and is an EFFAS certified Financial Analyst. Jack is registered with the Dutch Securities Institute. Mr. Richard Speetjens, Portfolio Manager within the Robeco Trends Investing Equities team. He joined Robeco in June 2007 to co-manage two European equity funds. Prior to joining Robeco in June 2007, he was employed by Van Lanschot Asset Management as a portfolio manager European Equities. He started his career in 2000, as a portfolio manager European Equities at Philips Investment Management. Richard is a CFA charter holder and holds a Master's degree in Business Economics and Finance from Maastricht University. Richard is registered with the Dutch Securities Institute.
Details
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}| Management company | |
| Fund capital | |
| Size of share class | |
| Outstanding shares | |
| ISIN | LU1233758660 |
| Bloomberg | RGCTIHU LX |
| Valoren | 28227940 |
| WKN | |
| Availability | |
| 1st quotation date | 1432771200000 |
| Close financial year | 31-12 |
| Legal status | |
| Tracking error limit (%) | |
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Cost of this fund
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Transaction costs |
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Performance fee |
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Extra fees
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Fiscal product treatment
The fund is established in Luxembourg and is subject to the Luxembourg tax laws and regulations. The fund is not liable to pay any corporation, income, dividend or capital gains tax in Luxembourg. The fund is subject to an annual subscription tax ('tax d'abonnement') in Luxembourg, which amounts to 0.01% of the net asset value of the fund. This tax is included in the net asset value of the fund. The fund can in principle use the Luxembourg treaty network to partially recover any withholding tax on its income.
Fiscal treatment of investor
Investors who are not subject to (exempt from) Dutch corporate-income tax (e.g. pension funds) are not taxed on the achieved result. Investors who are subject to Dutch corporate-income tax can be taxed for the result achieved on their investment in the fund. Dutch bodies that are subject to corporate-income tax are obligated to declare interest and dividend income, as well as capital gains in their tax return. Investors residing outside the Netherlands are subject to their respective national tax regime applying to foreign investment funds. We advise individual investors to consult their financial or tax adviser about the tax consequences of an investment in this fund in their specific circumstances before deciding to invest in the fund.
