RobecoSAM Circular Economy Equities D EUR
- Invests in leading companies that address the opportunities created by the paradigm shift in traditional production and consumption patterns toward a circular economy.
- Focus on innovative solutions in the area of redesign inputs, circular use, enabling technologies and loop resources.
- Diversified strategy enhanced by proprietary ESG risk considerations, appealing to investors with a horizon of three to five years.
About this fund
Price development
Performance
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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') ]}}The global equity markets rallied almost ten percent (in euro terms), driven by positive Covid-19 vaccine results and the passing of the US election overhang. The Circular Economy strategy gained approx. 1% less than the market, but is leading by more than 10% since inception. Rising prospects of the incoming US administration re-joining the Paris climate agreement, and the UK’s GBP 12 billion plan for a green industrial revolution provide further evidence for post-pandemic green recovery. The circular economy is taking on an increasingly prominent role on a policy level and with regard to companies’ sustainability frameworks. With a currently busy IPO pipeline, this month also brought the IPO of a Swedish textile-to-textile recycling company, which was met with strong demand. Given the gigantic environmental footprint of the 72 million tons of textiles used in apparel every year and 73% of clothing lost to landfill or incineration, brands such as H&M or Levi’s are eager to tap circular supplies and have already launched the first products made with their recycled fiber. In the face of rising consumer awareness, more circular clothing businesses are expected to go public in the coming months.
Fund allocation
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundAllocations.date,'llll') ]}}| Name | Sector | Weight |
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Fund Classification
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| Exclusion |
| Yes | No | N/A | ||
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| Sustainability Themed Fund |
Currency policy
The fund is allowed to pursue an active currency policy to generate extra returns.
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
The RobecoSAM Circular Economy Equities strategy invests in global companies providing circular solutions that create value in loops via reuse, redesign, repair, responsible consumption. It employs systematic, bottom-up stock selection that combines proprietary Environmental, Social & Governance (ESG) data and research throughout the investment process. ESG criteria for exclusions and theme-specific suitability are applied during universe construction. An in-house Sustainability Investing (SI) research team integrates financially-material sector and company-specific sustainability analysis into investment cases. A dedicated thematic equity team incorporate SI research within fundamental analysis and stock valuations. Impact assessments of controversial incidences affecting portfolio holdings provide additional risk management. An active ownership and engagement team interacts directly with company management of fund holdings, offering additional channels for sustainable impact.
Investment policy
Our investment philosophy is grounded in the core belief that the integration of ESG factors into a disciplined, research-driven investment process leads to better-informed investment decisions and better risk-adjusted returns through an economic cycle. Building on our proprietary data and research, we identify companies that generate a competitive advantage through sound business practices, efficiency improvements, and the creation of new solutions for the myriad challenges facing society over the coming decades. Taking a long-term investment perspective, we analyze companies’ business models, market positioning and growth potential, and evaluate their financial performance and valuation. Based on this fundamental assessment, we seek to uncover attractive investment opportunities and implement them in concentrated, conviction-based equity portfolios.
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') ]}}The markets have been quick to price in the positive Covid-19 vaccine developments and we expect this positive momentum to prevail for the time being. At the same time, although the risk of a continuous economic slowdown is off the table, the expectation of a completely smooth global vaccine roll-out is also very likely to experience a number of setbacks in the coming month. However, given the sustained commitment to sizable stimulus packages provided by governments around the world, we believe potentially forthcoming volatility should be viewed as a buying opportunity. The ongoing transition towards the circular economy is increasingly being perceived by regulators, consumers and the corporate world as a tool to combat the growing environmental disbalance. For investors, this creates a layer of secular growth opportunities, which have not only withstood the current pandemic crisis, but are well positioned to have a head start in the imminent economic recovery. Examples can be found in the modernization of global waste and recycling systems, digital collaboration and sharing platforms, and the switch to circular building products.
David Kägi, PhD
David Kägi is a Portfolio Manager responsible for managing the RobecoSAM Sustainable Healthy Living Equities strategy. Previously, he worked as a Buy-Side analyst covering the global healthcare sector for Bank J. Safra Sarasin in Zurich, first for Private Banking, then for Asset Management. In the last five years, he also managed the Demography Health basket certificate for Bank J. Safra Sarasin. After some years in biomedical research, he started his career in finance as a Healthcare Analyst at the investment company BT&T, followed by a position as an Investment Analyst for private biotechnology companies with Schweizerhall Management AG in Zurich. David holds a Master’s degree in Biochemistry and a PhD in T-cell Immunology both from the ETH Zürich. He joined Robeco in 2019.
Details
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}| Management company | |
| Fund capital | |
| Size of share class | |
| Outstanding shares | |
| ISIN | LU2092758726 |
| Bloomberg | ROCEEDE LX |
| Valoren | 52333282 |
| WKN | A2P0DR |
| Availability | |
| 1st quotation date | 1579737600000 |
| Close financial year | 31-12 |
| Legal status | |
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Cost of this fund
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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.
