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RobecoSAM Sustainable Food Equities Z EUR

Reference index: MSCI World Index TRN
ISIN: LU0454739888
  • 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.
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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 Z 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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Equity markets continued their upward move in April, although Q1 earnings trailed last year’s so far. Declining recession fears and a dovish Fed stance supported investor's appetite for stocks. Financials, tech and industrials led the market upward. For the food sector, results reported for industrials pointed to a more robust operating environment. Lapsing last year's raw material inflation is taking away some of the pressure on the sector. The upward trend in minimum wages creates a tailwind for food automation equipment, where the positive order flow is reportedly building momentum. The swine fever in China has in the meanwhile gone viral, and is significantly understated in official estimates. The USDA expects a decline of 134 million heads, or the entire US annual output. On a different note, related to the rising debate about food waste and environmental footprint, a recent study shows that CO2 emissions for pre-portioned meal kits are actually 25% lower than the average grocery meal. The consumer shift into this direction paired with building regulation on single-use plastics, should help to create an attractive market opportunity for sustainable packaging solutions.

Fund allocation

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Fund Classification

YesNoN/A 
Voting
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ESG integration
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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

For RobecoSAM Sustainable Food Equities, the initial universe consists of companies that offer products and services related to the global food sector. By combining RobecoSAM thematic research expertise with sustainability analysis, ESG criteria are fully integrated along the investment process across key sustainable food areas. Specialized sustainability screens for the food sector that assess extra-financial data (e.g. animal welfare, plant protection chemicals, forestry certification etc.) are applied as part of the due diligence process. In addition, voting and engagement practices form an integral part of the strategy’s investment process. By collaborating closely with internal engagement specialists, the investment management team places emphasis on having constructive dialogues with food companies to encourage sustainable business practices.

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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A softening of the general macroeconomic environment becomes more visible, notably in Europe. While the US economy is still holding up fairly well, it remains to be seen how long this can continue. On a positive note, inflation expectations are coming down again, giving central banks more flexibility to expand monetary support if needed. In such an environment, it becomes particularly important to focus on companies with resilient business fundamentals and sustainable cash flows. We consider providers of mechanization and digitization solutions on the farm and in food production and logistics to be the major beneficiaries. Moreover, we expect the ongoing consumer shift towards more conscious eating to create new opportunities for investors in the foreseeable future.

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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ISINLU0454739888
BloombergROBSAZE LX
Valoren
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Availability
1st quotation date1502928000000
Close financial year31-12
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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 0.05% 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.

Important legal information

The content displayed on this website is exclusively directed at qualified investors, as defined in the swiss collective investment schemes act of 23 june 2006 ("cisa") and its implementing ordinance, or at “independent asset managers” which meet additional requirements as set out below. Qualified investors are in particular regulated financial intermediaries such as banks, securities dealers, fund management companies and asset managers of collective investment schemes and central banks, regulated insurance companies, public entities and retirement benefits institutions with professional treasury or companies with professional treasury.

The contents, however, are not intended for non-qualified investors. By clicking "I agree" below, you confirm and acknowledge that you act in your capacity as qualified investor pursuant to CISA or as an “independent asset manager” who meets the additional requirements set out hereafter. In the event that you are an "independent asset manager" who meets all the requirements set out in Art. 3 para. 2 let. c) CISA in conjunction with Art. 3 CISO, by clicking "I Agree" below you confirm that you will use the content of this website only for those of your clients which are qualified investors pursuant to CISA.

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