Robeco Sustainable Global Stars Equities I USD
High conviction in the most attractive companies around the world
Share classes
Share classes
Every share class of a product invests in the same portfolio of securities and has the same investment objectives and policies. However, their parameters might deviate. For instance and amongst others, their distribution type, currency exposure or fees and expenses might differ. The most common share classes at Robeco are:
a) D/DH shares, which are regular shares and available for all Investors;
b) I/IH shares, for institutional investors as defined from time to time by the Luxembourg supervisory authority.
For more information on share classes please go to the prospectus.
I-USD
D-EUR
DL-USD
E-EUR
F-EUR
IL-EUR
IL-GBP
IL-USD
M2-EUR
Z-EUR
Class and codes
Asset class:
Equities
ISIN:
LU2386386747
Bloomberg:
ROGSEID LX
Index
MSCI World Index (Net Return, USD)
Sustainability-related information
Sustainability-related information
Under the EU Sustainable Finance Disclosure Regulation, products can be labelled as either Article 6, 8 or 9 fund.
Article 6 - The fund is not in scope of enhanced sustainability disclosures compared to Article 8 and 9.
Article 8 - The fund does not have a sustainable investment objective but promotes environmental or social characteristics and is subject to enhanced sustainability disclosures.
Article 9 - The fund has a sustainable investment objective and is subject to enhanced sustainability disclosures.
Regardless of Article 8 or 9, the companies in which investments are made must follow good governance practices, and sustainable investments must not do any significant harm.
Article 8
- Overview
- Performance & costs
- Portfolio
- Sustainability
- Commentary
- Documents
MISSING: fund.detail.tabs.
Key points
- Concentrated portfolio
- Focuses on companies with a high return on invested capital
- Applies a disciplined approach to valuating companies
About this fund
Robeco Sustainable Global Stars Equities is an actively managed fund that invests in stocks in developed countries across the world. 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 has a concentrated portfolio of stocks with the highest potential growth which are selected on the basis of high free cash flow, an attractive return on invested capital and a constructive sustainability profile. The fund aims at selecting stocks with relatively low environmental footprints compared to stocks with high environmental footprints.
Key facts
Total size of fund
$ 1,399,535,252
Size of share class
$ 333,588,997
Inception date share class
28-09-2021
1-year performance
25.69%
Dividend paying
No
Fund manager
Michiel Plakman CFA
Chris Berkouwer
Oliver Attwater
Michiel Plakman is Lead Portfolio Manager and member of the Global Equity team. He is also Co-Head of Robeco’s Global Equity team. He is responsible for fundamental global equities with a focus on SDG investing and on companies in the information technology, real estate & communication services sectors, as well as 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 Japanese Equities 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 Portfolio Manager and member of the Global Equity team. He is also Deputy Lead Portfolio Manager. He is responsible for fundamental global equities with a focus on the low-carbon transition and on companies in the energy, materials and industrials sectors, as well as portfolio construction. He joined Robeco in 2010. Prior to that, he worked as an analyst for the The Hague Centre for Strategic Studies. He conducted country, industry and company research for various equity teams prior to joining the Global Equity team. He a holds Master's in Business Administration and International Public Management from the Erasmus University Rotterdam and is a CFA® Charterholder. Oliver Attwater is Portfolio Manager and member of the Global Equity team. He is also Deputy Lead Portfolio Manager. He is responsible for fundamental global equities with a focus on companies in the information technology sector and portfolio construction. He joined Robeco in 2021. Previously, he was Head of US Equities at British Airways’ Pension fund based in London, U.K., where he had portfolio management and analyst responsibilities covering all sectors. He holds a Bachelor’s from University College London and he is a CFA® Charterholder.
Performance
Per period
Per annum
- Per period
- Per annum
1 month
2.31%
3.21%
3 months
8.94%
8.88%
YTD
8.94%
8.88%
1 year
25.69%
25.11%
2 years
7.50%
7.85%
Since inception 09/2021
6.78%
6.80%
2023
25.01%
23.79%
2022
-20.10%
-18.14%
Costs
Ongoing charges
Indication of annual charges that are deducted for this fund. This indication is based on the costs over the last calendar year and may vary from year to year. Transaction costs incurred by the fund, any performance fees and other one-off costs are not included in the ongoing charges.
0.81%
Included management fee
A fee paid by the fund to the asset management company for the professional management of the fund.
0.68%
Included service fee
This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.
0.12%
Transaction costs
The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.
0.19%
Performance fee
A performance fee is a cost that is only deducted when the fund realizes a certain result over a specified period. For more information on the performance fee deducted over the last financial year, please refer to the Key Investor Information, the prospectus or the annual report.
15.00%
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.
Fund allocation
Asset
Currency
Sector
Top 10
- Asset
- Currency
- Sector
- Top 10
Policies
The fund is allowed to pursue an active currency policy to generate extra returns and can engage in currency hedging transactions.
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.
Robeco Sustainable Global Stars Equities is an actively managed fund that invests in stocks in developed countries across the world. 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 has a concentrated portfolio of stocks with the highest potential growth which are selected on the basis of high free cash flow, an attractive return on invested capital and a constructive sustainability profile. The fund aims at selecting stocks with relatively low environmental footprints compared to stocks with high environmental footprints. The fund aims for a better sustainability profile compared to the Benchmark by promoting certain E&S (i.e. Environmental and Social) characteristics within the meaning of Article 8 of the European Sustainable Finance Disclosure Regulation and integrating ESG and sustainability risks in the investment process and applies Robeco’s Good Governance policy. The fund applies sustainability indicators, including but not limited to, normative, activity-based and region-based exclusions, proxy voting and aims for an improved environmental footprint. The majority of stocks selected will be components of the Benchmark, but stocks outside the Benchmark may be selected too. The fund can deviate substantially from the weightings of the Benchmark. The fund aims to outperform the Benchmark over the long run, whilst still controlling relative risk through the applications of limits (on currencies) to the extent of deviation from the Benchmark. This will consequently limit the deviation of the performance relative to the Benchmark. The Benchmark is a broad market weighted index that is not consistent with the ESG characteristics promoted by the fund.
Risk management is fully integrated into the investment process to ensure that positions always meet predefined guidelines.
Sustainability-related disclosures
Febelfin
Febelfin
The fact that the sub-fund has obtained this label does not mean that it meets your personal sustainability goals or that the label is in line with requirements arising from any future national or European rules. The label obtained is valid for one year and subject to annual reappraisal. More information on this label.
Sustainability profile
ESG score target
Above Index
Footprint target
20% better than index
ESG Important Information
The sustainability information below can help investors integrate sustainability considerations in their process. This information is for informational purposes only. The reported sustainability information may not at all be used in relation to binding elements for this fund. A decision to invest should take into account all characteristics or objectives of the fund as described in the prospectus.
Sustainability
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.The following sections display the ESG-metrics for this fund along with short descriptions. For more information please visit the sustainability-related disclosures.The index used for all sustainability visuals is based on MSCI World Index (Net Return, USD).
Market development
Another month, another high. In March, global equities added a next leg to this year's rally (+3.4% in EUR; +3.2% in USD), ironing out any wobble that passed in the market. Momentum rules, which is now also starting to appear in areas of the market not dominated by popular themes or the super champions league of mega caps. Interestingly, the odd combination of central banks pivoting a rate cut while inflation and labor markets still running a bit too hot, seems to be fully embraced by investors nonetheless. In any case, rate cuts amid a resilient economic backdrop is positive for risky assets and should help the market broadening out. Some caveats to the goldilocks thesis are that investor positioning already seems extended, negative consumer data points are starting to add up and commodity prices are rising again, which, in sum, is a recipe for caution. That's why we need to stay vigilant and apply disciplined valuation in case of unwinding momentum and rotation into other corners of the market.
Performance explanation
Based on transaction prices, the fund's return was 2.31%. In the month of March, the portfolio had a strong absolute performance, but ended with a slight underperformance versus the benchmark. Sector-wise, our positioning in healthcare and communication services helped performance most, while financials and energy lagged during the month. On a stock level, Alphabet experienced a nice rebound on the back of news that Apple potentially wants to license Alphabet's Gemini AI platform. This way, Apple might integrate GenAI features into its upcoming iOS software update due later this year. For Alphabet this is not only positive for stock sentiment, but also an endorsement of its AI technology. Hitachi also enjoyed another good month, fueled by favorable trends in its grid power business, serving the needs of many operators that have to upgrade their infrastructure networks necessary for the energy transition. Furthermore, on the back of rising oil prices, the energy complex moved higher as well, including our holding in energy services operator Schlumberger.
Expectation of fund manager
Michiel Plakman CFA
Chris Berkouwer
Oliver Attwater
Markets do not tend to top out on bad news per se, but instead exhaust themselves due to lack of additional buying in spite of supportive news flow. On the fringes we do see that happening, resulting in a splintering of the 'Magnificent 7' and a slight shift to second-order derivative plays on themes such as Artificial Intelligence (AI). Also, the rally in sectors such as industrials looks to be stalling, which seems ironic given US PMIs have finally started to move above the 50 level, indicating valuation levels are already there. In contrast, supply/demand imbalances in energy markets and commodities such as aluminum and copper are being reflected in prices moving up, suggesting a potential re-rating in such related sectors. All in all, timing the end to any large momentum run is usually a graveyard call and hard to shoot against, but the mosaic of data points suggests to us that a slight re-allocation to more ignored parts of the market is sensible.