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RobecoSAM Sustainable Food Equities I EUR

Reference index: MSCI World Index TRN
ISIN: LU0374107216
  • Long-term growth potential — Innovation and disruption in the food value chain are only at its beginning. New technologies and consumption shifts create efficiency gains and new growth markets. Sustainability assessment — Additional to the RobecoSAM standard exclusions, theme specific sustainability topics. Direct engagement with companies further aims to improve companies ESG profile and competitive positioning.
  • Sustainability assessment — Additional to the RobecoSAM standard exclusions, theme specific sustainability topics. Direct engagement with companies further aims to improve companies ESG profile and competitive positioning.
Assets class
Current price ()
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Currency EUR
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Dividend payingNo

About this fund

RobecoSAM Sustainable Food Equities invests in stocks in developed and emerging countries across the world. The selection of these stocks is based on fundamental analysis. The Fund focuses on investment opportunities arising from the ongoing food sector transformation. The management team aims to identify and invest in market leaders, which offer sustainable solutions for food quality and security, automation and processing, resource utilization, and consumer demand shifts. By combining RobecoSAM thematic research expertise with sustainability analysis, ESG criteria are fully integrated along the investment process across key sustainable food areas. An in-house Sustainability Investing (SI) research team integrates financially-material sector and company-specific sustainability analysis into investment cases.

Price development

No performance data available

Price development

RobecoSAM Sustainable Food Equities I 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.

Statistics

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Market development

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Global equity markets traded higher in October, flattish in EUR terms, after a negative start to the month. Weaker manufacturing data in the US and noisy trade comments by Chinese officials were offset by the expected Fed rate cut of 0.25% and the hope that the newly agreed general election in the UK on 12 December will remove the standstill with the EU. The food sector performed slightly weaker, but the fund fared relatively better. The present wide valuation spread has renewed the debate about the relative attractiveness of value over growth stocks. Accordingly, pronounced style shifts seem more likely. However, given the continuous soft economic data, growth combined with strong cash flow generation is likely to retain the upper hand. Momentum is building in the food packaging space related to the fight against single-use plastic connected to cups, containers, trays and bowls. Given the ambitious commitments of big food companies to transition towards recyclable or renewable packaging products, solution providers in our universe are seeing a compelling opportunity evolving, which is estimated to be USD 5 bln for paperboard conversions in North America and Europe alone.

Fund allocation

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Fund Classification

YesNoN/A 
Voting
Engagement
ESG integration
Exclusion
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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

RobecoSAM Sustainable Food 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

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

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Global economic growth rate estimates continue to be revised downwards. Improvements of trade negotiations may help, but are unlikely to change the overall softer macro outlook. Therefore, whilst ample monetary support from the central banks remains assured, supporting current stock market levels, the real economy may soften further. Focusing on companies with resilient business fundamentals and sustainable cash flows is particularly important in the present situation. We see providers of mechanization and digitization solutions for food production, logistics and traceability as major beneficiaries. Furthermore, we expect the ongoing consumer shift towards more conscious eating and higher demand for nutritious food from the rising urban middle class to create new opportunities for investors.

Holger Frey, CAIA
Holger Frey, CAIA

Holger Frey, CAIA

Holger Frey is a Senior Portfolio Manager responsible for managing the RobecoSAM Sustainable Food Strategy. Prior to joining RobecoSAM, Holger worked for 10 years as a Portfolio Manager and Analyst for Sustainable Equities at Deutsche Asset & Wealth Management. In this role he was also responsible for the DWS Agriculture Index and the DWS Water Sustainability Fund. Prior to that, he worked for 2 years as a financial services consultant for KPMG Consulting/Bearing Point in the Asset Wealth Management Practice Group and as a graduand at KfW Bankengruppe. He holds a Bachelor’s degree in Computer Science and Media from the University of Applied Sciences in Fulda (Germany), a Bachelor’s of Arts degree in Musicology from the Johann Wolfgang Goethe University in Frankfurt, and is a Chartered Alternative Investment Analyst (CAIA). He joined RobecoSAM in 2016.

Details

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Management company
Fund capital
Size of share class
Outstanding shares
ISINLU0374107216
BloombergROBAGEI LX
Valoren4366569
WKNA0RB5S
Availability
1st quotation date1219968000000
Close financial year31-12
Legal status
Tracking error limit (%)
Morningstar
Reference index

Cost of this fund

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This fund deducts ongoing charges of
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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 0.01% 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.

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Important legal information

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