Robeco Sustainable Global Stars Equities F EUR
- Concentrated portfolio
- Focuses on companies with a high return on invested capital
- Applies a disciplined approach to valuating companies
About this fund
Price development
Performance
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundPerformances.date,'llll') ]}}| Fund | Reference index | |
|---|---|---|
| 1 month | ||
| 3 months | ||
| YTD | ||
| 1 year | ||
| 2 years | ||
| 3 years | ||
| 5 years | ||
| 10 years | ||
| {{'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 | ||
|---|---|---|---|
| Tracking error ex-post (%) |
|
||
| Information ratio | |||
| Sharpe ratio | |||
| Alpha (%) | |||
| Beta |
|
||
| Standard deviation |
|
||
| Max. monthly gain (%) |
|
||
| Max. monthly loss (%) |
|
| 3 years | 5 years | ||
|---|---|---|---|
| Months outperformance | |||
| Hit ratio (%) | |||
| Months Bull market | |||
| Months outperformance Bull | |||
| Hit ratio Bull (%) | |||
| Months Bear market | |||
| Months outperformance Bear | |||
| Hit ratio Bear (%) |
| Fund | Reference index | ||
|---|---|---|---|
| Rating | |||
| Option Adjusted Modified Duration (years) | |||
| Maturity (years) | |||
| Yield to Worst (%) |
Market development
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}The MSCI World Index closed 1.2% up in euro terms. Most developed equity markets closed the decade at all-time highs. Major uncertainties of the last few years ended. Firstly, the US and China agreed on a phase-one trade deal, which removed the December 15 tariff hike. Secondly, we witnessed the removal of the no deal Brexit fear, as Boris Johnson was elected as prime minster of the UK. Both events will positively impact business sentiment around the world. Macro data is troughing and monetary policies are still rather benign, which will continue to support the equity markets, despite lofty valuations and earnings growth expectations.
Fund allocation
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundAllocations.date,'llll') ]}}| Name | Sector | Weight |
|---|---|---|
Fund Classification
| Yes | No | N/A | ||
|---|---|---|---|---|
| Voting | ||||
| Engagement | ||||
| ESG integration | ||||
| Exclusion |
| Yes | No | N/A | ||
|---|---|---|---|---|
| Screening | ||||
| Integration | ||||
| Sustainability Themed Fund |
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
Robeco Sustainable Global Stars Equities integrates ESG at different stages of the investment process. We use sustainability performance rankings to focus our fundamental analysis on companies that have demonstrated superior sustainability performance compared to their peers. We then analyze 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 risks and opportunities of a company. If ESG risks and opportunities are significant, the ESG analysis could impact a stock’s fair value and the portfolio allocation decision. Throughout the investment process, we strive for a low environmental impact, as measured by GHG emissions, energy consumption, water use and waste generation, with the aim of realizing 20% better levels than the index. In addition to ESG integration, Robeco conducts proxy voting and engagement activities focused on specific themes, such as climate change, aiming to improve a company’s sustainability profile. Furthermore, the fund will not invest in companies exposed to the following controversial sectors or business practices: military contracting, controversial weapons, fire arms, UN Global Compact breaches, tobacco, palm oil and thermal coal, according to strict revenue thresholds.
Investment policy
Robeco Sustainable Global Stars Equities uses a disciplined and rigorous selection process to find interesting stocks. Stocks are purchased mainly for their potential to increase in value. Fundamental analysis is carried out using a disciplined approach. The fund will not be constrained by its benchmark and stocks will be bought for their capital-appreciation potential. The fund can anticipate currency developments through active currency management. Risk management is fully integrated into the investment process to ensure that positions always meet predefined guidelines.
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') ]}}We like the outlook for developed market equities for 2020. In hindsight, in 2019 we have been too cautious all year. However, looking towards 2020 we are relatively optimistic. We see low but stable global growth around the globe, with growth in emerging market economies better than growth in the developed world. More importantly, the risk of a global recession continues to be low, as most regions should have decent growth in 2020. To be clear, we do not see an acceleration of global economic growth. There are specific headwinds, such as the continuing trade dispute and tight labor markets in the US and Japan. However, 'Steady Eddy' economic growth should be enough for global equity markets to continue to perform well. Central banks around the world will continue to be accommodative, as inflation is under control around the world. Despite tight labor markets, we see no signs that inflationary pressures are accelerating.
Jan Keuppens, Michiel Plakman, CFA
Jan Keuppens, Executive Director, is the Head of the Global Equities team. Prior to joining Robeco in 2005, he worked as a Portfolio Manager for Quest Management, AXA IM and Corluy & CO. Jan Keuppens started his career in the investment industry in 1997. He holds a Master's degree in Applied Economic Sciences from the University of Leuven. Michiel Plakman is Portfolio Manager of Robeco Global Stars Equities Fund NV. Michiel Plakman is co-PM for the Global Stars fund. Previously, he was responsible for managing the Robeco IT Equities fund within the TMT team. Prior to joining Robeco in 1999, Michiel Plakman worked for two years as a Portfolio Manager Japan at Achmea Global Investors (PVF Pensioenen). From 1995 to 1997, he held a position as Portfolio Manager European Equities at KPN Pension Fund. Michiel holds a Master's degree in Econometrics from the Free University of Amsterdam and he is a CFA charter holder.
Details
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}| Management company | |
| Fund capital | |
| Size of share class | |
| Outstanding shares | |
| ISIN | LU0940004913 |
| Bloomberg | ROBGSFE LX |
| Valoren | 21528114 |
| WKN | |
| Availability | |
| 1st quotation date | 1378252800000 |
| Close financial year | 31-12 |
| Legal status | |
| Tracking error limit (%) | |
| Morningstar |
|
| Reference index |
Cost of this fund
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundCosts.managementFees.date,'llll') ]}}Ongoing charges |
|
|---|---|
| This fund deducts ongoing charges of |
| These charges comprise | ||
|---|---|---|
| Management fee | ||
| Service fee | ||
Transaction costs |
|
|---|---|
| The expected transaction costs are |
Performance fee |
|
|---|---|
| This fund may also deduct a performance fee of |
Extra fees
| max entry fee | ||
| Max exit fee | ||
| Max sub fee | ||
| Max switch fee |
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.
