switzerlanden
Image

RobecoSAM Global Green Bonds IH EUR

Index: Bloomberg Barclays MSCI Global Green Bond Index (hedged into EUR)
ISIN: LU2138604454
  • Uses a proprietary green bonds framework to determine eligibility of green bonds for the fund
  • Provides a diversified exposure to the global green bonds market
  • Impact investing, using a disciplined and repeatable investment process and an experienced portfolio management team
Asset class
Current price ()
Performance YTD ()
Currency EUR
Total size of fund ()
Dividend payingNo

About this fund

RobecoSAM Global Green Bonds is an actively managed fund that invests in green bonds issued by governments, government-related agencies and corporates. The selection of these bonds is based on fundamental analysis. The fund's objective is to provide long term capital growth.The fund invests at least two-thirds of its total assets in global green bonds with a minimal rating of "BBB-" or equivalent by at least one of the recognized rating agencies. Green bonds selection is based on an internally developed framework for which more information can be obtained via the website www.robeco.com/si.

Price development

No performance data available

Price development

RobecoSAM Global Green Bonds IH EUR

Performance

{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundPerformances.date,'llll') ]}}
Fund 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') ]}}
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

{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}

Based on transaction prices, the fund's return was 1.42%. The total return of the fund was 1.46% last month, versus 1.69% for the index. The underweight duration position of the fund made a negative contribution as yields declined. The fund's underweight duration positions in Germany, the United Kingdom and the United States detracted from performance, as did the fund's curve positions. The fact that the underweight was concentrated in shorter maturities mitigated some of the negative impact, as global curves flattened.Credit spreads on green bonds widened a bit, but this did not hurt performance, as the beta of the fund was close to neutral (0.98 at the end of the month). Overall, credit selection made a small negative contribution. However, individual issuer selection effects were small, including the largest negative contributions, which came from two emerging market corporates.

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 (%)
Above mentioned ratios are based on gross of fees returns
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 (%)
Above mentioned ratios are based on gross of fees returns
Fund Reference index
Rating
Option Adjusted Modified Duration (years)
Maturity (years)
Yield to Worst (%)
Green Bonds (%)

Market development

{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}

The Global Green Bond Index delivered a total return of 1.69% last month. The yield on 10-year German treasuries moved down 25 basis points to -0.46%. The US 10-year Treasury yield also dropped 25 bps to 1.22%. The credit spread (OAS) on the Global Green Bond Index widened 3 bps to 0.60%.The European investment grade corporate bond market continued to trade in a narrow spread range. The spread of the Covid delta variant led to weakness in other credit markets, while global government bonds rallied. The so-called reopening trades also underperformed, as investors worried about the recovery path in sectors such as airlines and leisure.The ECB now needs to forecast inflation at 2% well ahead of the forecast horizon before lifting rates, while the Fed indicated less appetite for inflation shoots, with the latter implying faster steps in monetary tightening at the expense of growth. Hence, the UST curve flattened strongly. For the ECB, the current inflation outlook is still quite some distance away from this threshold. Nonetheless, the ECB left the discussion regarding the size of monthly purchases under its PEPP program for the September meeting.

Fund allocation

{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundAllocations.date,'llll') ]}}
Name Sector Weight
{{fund.fundInvestmentExplanations.top10}}

Currency policy

All currency risks are hedged.

Dividend policy

The fund does not distribute a dividend.

ESG Integration policy

The RobecoSAM Global Green Bonds strategy invests in bonds whose proceeds are used towards an environmental objective, referred to as green bonds. The eligibility of green bonds is based on an internally developed five-step framework. We assess if the issuer takes into account the ICMA Green Bond Principles, the Climate Bond Initiative and/or the EU Green Bond Standard. Then we identify and evaluate the allocation of the investment proceeds in line with the EU Taxonomy and EU’s six environmental objectives. We verify that the bond proceeds are allocated to projects that positively contribute to at least one of the six objectives, and do not significantly harm the other five: climate change mitigation, climate change adaptation, sustainable use and protection of water and marine resources, transition to a circular economy, waste prevention and recycling, pollution prevention and control, protection of healthy ecosystems. We require the bond issuers to report on the use of proceeds. In addition to the use-of-proceeds screening, we assess the wider sustainability strategy of the issuer. Finally, we require issuers to respect international norms related to conduct such as international labor rights, human rights and the UN Global Compact. In addition to the universe screening, our analysts integrate ESG factors in their fundamental analysis of companies and sovereigns.

Investment policy

RobecoSAM Global Green Bonds is an actively managed fund that invests in green bonds issued by governments, government-related agencies and corporates. The selection of these bonds is based on fundamental analysis. The fund's objective is to provide long term capital growth.The fund has sustainable investment as its objective within the meaning of Article 9 of the European Sustainable Finance Disclosure Regulation. The fund finances/ re-financing new and/or existing environmentally-friendly projects by investing in green bonds which are designed to support specific climate-related or environmental projects. The fund integrates ESG (i.e. Environmental, Social and corporate Governance) in the investment process, applies an exclusion list basis controversial behavior, products (including controversial weapons, tobacco, palm oil and fossil fuel) while avoiding investment in thermal coal, weapons, military contracting and companies that severely violate labor conditions, next to engagement. The fund invests at least two-thirds of its total assets in global green bonds with a minimal rating of "BBB-" or equivalent by at least one of the recognized rating agencies. Green bonds selection is based on an internally developed framework for which more information can be obtained via the website www.robeco.com/si. The Benchmark is aligned with the sustainable investment objective of the fund by applying clearly defined rules for classifying green bonds. The majority of bonds selected will be components of the Benchmark, but bonds 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 and issuers) to the extent of deviation from the Benchmark. This will consequently limit the deviation of the performance relative to the Benchmark. the Benchmark is aligned with the sustainable investment objective of the fund by applying clearly defined rules for classifying green bonds.

Risk policy

Risk management is fully embedded in the investment process so as to ensure that the fund's positions remain within set limits at all times.

Sustainability profile

{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}

Exclusions

Full ESG Integration

Engagement

Target Universe

ESG integration policy

{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}

The RobecoSAM Global Green Bonds strategy invests in bonds whose proceeds are used towards an environmental objective, referred to as green bonds. The eligibility of green bonds is based on an internally developed five-step framework. We assess if the issuer takes into account the ICMA Green Bond Principles, the Climate Bond Initiative and/or the EU Green Bond Standard. Then we identify and evaluate the allocation of the investment proceeds in line with the EU Taxonomy and EU’s six environmental objectives. We verify that the bond proceeds are allocated to projects that positively contribute to at least one of the six objectives, and do not significantly harm the other five: climate change mitigation, climate change adaptation, sustainable use and protection of water and marine resources, transition to a circular economy, waste prevention and recycling, pollution prevention and control, protection of healthy ecosystems. We require the bond issuers to report on the use of proceeds. In addition to the use-of-proceeds screening, we assess the wider sustainability strategy of the issuer. Finally, we require issuers to respect international norms related to conduct such as international labor rights, human rights and the UN Global Compact. In addition to the universe screening, our analysts integrate ESG factors in their fundamental analysis of companies and sovereigns.

Expectation of fund manager

{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}

In terms of credit risk, we aim for betas below one in investment grade and high yield funds. Spread levels in general are low and remain below historical averages, with little room for further tightening. With inflation rising, the forward guidance of central banks is being challenged. This also affects the technicals in credit markets, which have been such a positive driver in recent years. If the economic recovery continues, at some point the central bank asset purchases will be reduced.

Michiel de Bruin, Peter Kwaak
Michiel de Bruin, Peter Kwaak

Michiel de Bruin, Peter Kwaak

Michiel de Bruin is Co-Head of the Fixed Income Global Macro team and Co-Manager of Euro Government Bonds. Prior to joining Robeco, Michiel worked for BMO Global Asset Management in London, most recently as Head of Global Rates and Money Markets. He held various other positions before that, including Head of Euro Government Bonds. The roles he fulfilled before joining BMO included Co-Head of Fixed Income Sales and Trading at NIB Financial Markets in Amsterdam. Michiel started his career in the industry in 1986 and he holds a Bachelor's degree from Amsterdam University of Applied Sciences. Peter Kwaak is a Senior Portfolio Manager and a member of the Credit team. Prior to joining Robeco in 2005, Mr. Kwaak was employed by Aegon Asset Management for three years as Credits and High Yield Portfolio Manager and at NIB Capital for two years as Portfolio Manager. Peter Kwaak started his career in the Investment Industry in 1998. Mr. Kwaak is a CFA Charterholder and holds a Master's degree in economics from the Erasmus University Rotterdam. Mr. Kwaak 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
ISINLU2138604454
BloombergROGGBIE LX
Valoren54405041
WKN
Availability
1st quotation date1587427200000
Close financial year31-12
Legal status
Tracking error limit (%)
Reference index

Cost of this fund

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 0.01% 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.

Logo

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). 

Some funds about which information is shown on this website may not be available in your domicile country. Please check the registration status in your respective domicile country. To view the RobecoSwitzerland Ltd. products that are registered/available in your country, please go to the respective Fund Selector, which can be found on this website and select your country of domicile. 

Neither information nor any opinion expressed on this website constitutes a solicitation, an offer or a recommendation to buy, sell or dispose of any investment, to engage in any other transaction or to provide any investment advice or service. An investment in a Robeco Switzerland Ltd. product should only be made after reading the related legal documents such as management regulations, prospectuses, annual and semi-annual reports. 

By clicking “I agree” you confirm that you/the company you represent falls under one of the above-mentioned categories of addressees and that you have read, understood and accept the terms of use for this website.

I Disagree