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Robeco Sustainable Global Stars Equities D EUR

Index: MSCI World Index (Net Return, EUR)
ISIN: LU0387754996
  • Concentrated portfolio
  • Focuses on companies with a high return on invested capital
  • Applies a disciplined approach to valuating companies
Asset class
Current price ()
Performance YTD ()
Currency EUR
Total size of fund ()
Dividend payingNo

About this fund

Robeco BP Global Premium Equities is an actively managed fund that invests in stocks globally. The selection of these stocks is based on fundamental analysis. The fund's objective is to achieve a better return than the index. The fund invests in a flexible manner across market capitalizations, regions and sectors, in developed countries across the world.

Price development

No performance data available

Price development

Robeco Sustainable Global Stars Equities D EUR

Performance

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The value of the investments may fluctuate. Past performance is no guarantee of future results.
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
The value of the investments may fluctuate. Past performance is no guarantee of future results.
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.

Performance explanation

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Based on transaction prices, the fund's return was -0.12%. Our strategy had a negative performance relative to the benchmark in November. Strong stock selection in technology, materials and industrials contributed most to performance, while we suffered in healthcare and consumer discretionary. The main positive contributor to performance was Micron Technology, which saw a strong rebound on the back of improving demand trends for memory chips. Sony Group also had strong performance in November, posting strong results driven by its Music business while the Gaming segment is bottoming out as well. A third positive contributor was Fortescue Metals, which benefited from a slightly more optimistic tone of the Chinese government regarding its ailing property sector. We saw weakness in AstraZeneca, driven by disappointing results in the near term, but they are actually no cause of concern to us over the mid/long-term. Other detractors from performance were Neste Oyj, which feels the pinch from potential Covid-related lockdowns, while our holding in Bank of America saw some profit taking too as investors have been flocking into the growth camp of the market.

Statistics

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Market development

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Global equity markets experienced a volatile November month, yet were only slightly down on a sequential basis. A promising start to the month, mainly driven by the strong performance of large cap growth stocks, was given up in the following weeks on the back of fast rising Covid-19 infection rates in Europe in combination with concerns around the so-called Omicron variant. The latter triggered an immediate ‘search and sell’ for all negatively geared Covid portions of the market, including energy and other value segments. Even though we see the first signs of global supply chains not getting incrementally worse, the inflationary ripple effects will likely last well into 2022. As a consequence, central banks will likely become more hawkish sooner rather than later in raising interest rates, as signaled by the US Federal Reserve.

Fund allocation

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Name Sector Weight
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Currency policy

The fund is allowed to pursue an active currency policy to generate extra returns and can engage in currency hedging transactions.

Dividend policy

The fund does not distribute dividend. The fund retains any income that is earned and so its entire performance is reflected in its share price.

ESG Integration policy

The fund incorporates sustainability in the investment process via exclusions, ESG integration, ESG and environmental footprint targets, and voting. The fund does not invest in issuers that are in breach of international norms or where activities have been deemed detrimental to society following Robeco's exclusion policy. Financially material ESG factors are integrated in the bottom-up fundamental investment analysis to assess existing and potential ESG risks and opportunities. In the stock selection the fund limits exposure to elevated sustainability risks. The fund also targets a better ESG score and at least 20% lower carbon, water and waste footprints compared to the reference index. In addition, where a stock issuer is flagged for breaching international standards in the ongoing monitoring, the issuer will become subject to exclusion. Lastly, the fund makes use of shareholder rights and applies proxy voting in accordance with Robeco's proxy voting policy.

Investment policy

Robeco BP Global Premium Equities is an actively managed fund that invests in stocks globally. The selection of these stocks is based on fundamental analysis. The fund's objective is to achieve a better return than the index. The fund promotes ESG (environmental, social and corporate governance) characteristics within the meaning of Article 8 of the European Sustainable Finance Disclosure Regulation. In addition, the fund integrates ESG, applies Robeco’s Exclusion Policy (which is based on exclusion criteria for products including controversial weapons, tobacco, palm oil, and fossil fuel and uses proxy voting and engagement. The fund also aims for an improved carbon footprint compared to the benchmark. The fund invests in a flexible manner across market capitalizations, regions and sectors, in developed countries across the world. Benchmark: MSCI World Index (Net Return, EUR). While the investment policy is not constrained by a benchmark, the fund may use a benchmark index in its marketing materials for comparison purposes. Some of the stocks selected will be components of the benchmark, but stocks outside the benchmark may be selected too. The portfolio manager may use their discretion to invest in companies or sectors not included in the benchmark based on opportunities discovered through fundamental research. The fund can deviate substantially from the issuer, country and sector weightings of the benchmark. There are no restrictions on the deviation from the benchmark. The Benchmark is a broad market-weighted index that is not consistent with the ESG characteristics promoted by the fund.

Risk policy

Risk management is fully integrated into the investment process to ensure that positions always meet predefined guidelines.

Sustainability profile

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Exclusions+

ESG Integration

Voting

ESG Target

ESG score target Footprint target
Better than index 20% better than index

ESG Score

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The portfolio ESG score (and E,S and G score) is calculated by multiplying the RobecoSAM Smart ESG Score of each holding by its respective portfolio or index weight. The same methodology is applied in calculating the key ESG Criterion scores. The scores of the portfolio are provided alongside the scores of the index, highlighting the portfolio’s relative sustainability. The colors indicate the score of the portfolio, whilst the shading shows the index.

CGF GLSTAR_20211130-CGFGLSTA_20211130-smartESGScoreTotal.png CGF GLSTAR_20211130-CGFGLSTA_20211130-smartESGScoreDimensions.png CGF GLSTAR_20211130-CGFGLSTA_20211130-keySmartESGCriteria.png

Environmental Footprint

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The footprint ownership of the portfolio expresses the total resource consumption the portfolio finances. Each company's footprint is calculated by normalizing resources consumed by the company's enterprise value. Multiplying these values by the dollar amount invested in each company yields the aggregate footprint ownership figures. The selected index's footprint (for an equivalent $ amount invested in corporates) is provided alongside. The portfolios score is shown in blue and the index in grey.

CGF GLSTAR_20211130-CGFGLSTA_20211130-footprintOwnershipCo2.png
Robeco data based on Trucost data. *
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Source: Data based on RobecoSAM impact data.
CGF GLSTAR_20211130-CGFGLSTA_20211130-footprintOwnershipWater.png
Source: Data based on RobecoSAM impact data.
*Source: S&P Trucost Limited © Trucost 2021. All rights in the Trucost data and reports vest in Trucost and/or its licensors. Neither Trucost, not its affliates, nor its licensors accept any liability for any errors, omissions, or interruptions in the Trucost data and/or reports. No further distribution of the Data and/or Reports is permitted without Trucost's express written consent.

Sustainability

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The fund incorporates sustainability in the investment process via exclusions, ESG integration, ESG and environmental footprint targets, and voting. The fund does not invest in issuers that are in breach of international norms or where activities have been deemed detrimental to society following Robeco's exclusion policy. Financially material ESG factors are integrated in the bottom-up fundamental investment analysis to assess existing and potential ESG risks and opportunities. In the stock selection the fund limits exposure to elevated sustainability risks. The fund also targets a better ESG score and at least 20% lower carbon, water and waste footprints compared to the reference index. In addition, where a stock issuer is flagged for breaching international standards in the ongoing monitoring, the issuer will become subject to exclusion. Lastly, the fund makes use of shareholder rights and applies proxy voting in accordance with Robeco's proxy voting policy.

Expectation of fund manager

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We maintain a long-term positive outlook for developed market equities. We think that macro risks are increasing, as the US Federal Reserve has indicated it wants to start tapering, i.e. reduce the pace of its balance sheet expansion, in November. The first rate hikes have been signaled for the second half of 2022 or the first half of 2023. Meanwhile, global earnings revisions are likely peaking out, after a very strong post-pandemic rebound. In our view, the risk of a near-term correction has risen due to ongoing inflation concerns, China's unprecedented regulatory crackdown, the tapering announcement, and 'tax and spend' prospects in the US. However, we think that valuations have moved to a more normal range and are no longer excessive. Technical analysis still seems supportive for the overall market, and sentiment does not strike us as overly bullish.

Michiel Plakman, CFA, Chris Berkouwer
Michiel Plakman, CFA, Chris Berkouwer

Michiel Plakman, CFA, Chris Berkouwer

Michiel Plakman is Lead Portfolio Manager and member of the Global Equity team. He is responsible for fundamental global equities with a focus on Information Technology, Real Estate and portfolio construction. He has been in this role since 2009. Previously, he was responsible for managing the Robeco IT Equities fund within the TMT team. Prior to joining Robeco in 1999, he worked as a Portfolio Manager Japan at Achmea Global Investors (PVF Pensioenen). From 1995 to 1996 he was Portfolio Manager European Equities at KPN Pension Fund. He holds a Master's in Econometrics from Vrije Universiteit Amsterdam and he is a CFA® charterholder. Chris Berkouwer is a Portfolio Manager for Robeco’s Sustainable Global Stars Equities strategy. His focus is on companies in the sectors industrials, energy & materials. He joined Robeco in 2010. Prior to that, he worked as an analyst for the The Hague Centre for Strategic Studies. At Robeco he conducted country, industry and company studies for various equity teams. He a holds Master's in Business Administration and International Public Management from the Erasmus University Rotterdam.

Details

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Management company
Fund capital
Size of share class
Outstanding shares
ISINLU0387754996
BloombergROBGESD LX
Valoren4577283
WKN
Availability
1st quotation date1226275200000
Close financial year31-12
Legal status
Tracking error limit (%)
Morningstar
Reference index

Cost of this fund

Ongoing charges

This fund deducts ongoing charges of
These charges comprise
Management fee
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Transaction costs

The expected transaction costs are

Performance fee

This fund may also deduct a performance fee of

Extra fees

max entry fee
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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 0.05% 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

The fiscal consequences of investing in this fund depend on the investor's personal situation. For private investors in the Netherlands real interest and dividend income or capital gains received on their investments are not relevant for tax purposes. Each year investors pay income tax on the value of their net assets as at 1 January if and inasmuch as such net assets exceed the investor’s tax-free allowance. Any amount invested in the fund forms part of the investor's net assets. Private investors who are resident outside the Netherlands will not be taxed in the Netherlands on their investments in the fund. However, such investors may be taxed in their country of residence on any income from an investment in this fund based on the applicable national fiscal laws. Other fiscal rules apply to legal entities or professional investors. We advise 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.

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Disclaimer Robeco Switzerland Ltd.

The information contained on these pages is for marketing purposes and solely intended for Qualified Investors in accordance with the Swiss Collective Investment Schemes Act of 23 June 2006 (“CISA”) domiciled in Switzerland, Professional Clients in accordance with Annex II of the Markets in Financial Instruments Directive II (“MiFID II”) domiciled in the European Union und European Economic Area with a license to distribute / promote financial instruments in such capacity or herewith requesting respective information on products and services in their capacity as Professional Clients. 

The Funds are domiciled in Luxembourg and The Netherlands. ACOLIN Fund Services AG, postal address: Affolternstrasse 56, 8050 Zürich, acts as the Swiss representative of the Fund(s). UBS Switzerland AG, Bahnhofstrasse 45, 8001 Zurich, postal address: Europastrasse 2, P.O. Box, CH-8152 Opfikon, acts as the Swiss paying agent. The prospectus, the Key Investor Information Documents (KIIDs), the articles of association, the annual and semi-annual reports of the Fund(s) may be obtained, on simple request and free of charge, at the office of the Swiss representative ACOLIN Fund Services AG. The prospectuses are also available via the website www.robeco.ch. Some funds about which information is shown on these pages may fall outside the scope of the Swiss Collective Investment Schemes Act of 26 June 2006 (“CISA”) and therefore do not (need to) have a license from or registration with the Swiss Financial Market Supervisory Authority (FINMA). 

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