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RobecoSAM Sustainable Healthy Living Equities D EUR

Index: MSCI World Index TRN
ISIN: LU2146189407
  • Healthy living companies are helping to shape a new consumer
  • Interesting investment return history in a comparatively defensive fund
Asset class
Current price ()
Performance YTD ()
Currency EUR
Total size of fund ()
Dividend payingNo

About this fund

RobecoSAM Sustainable Healthy Living Equities is an actively managed fund that invests globally in companies that promote good health and well-being and contribute to an efficient healthcare system. The selection of these stocks is based on fundamental analysis. The fund's objective is to achieve a better return than the index. The strategy integrates sustainability criteria as part of the stock selection process and through a theme-specific sustainability assessment. The portfolio is built on the basis of an eligible investment universe that includes companies whose business models contribute to the thematic investment objectives. The assessment regarding relevant SDGs uses an internally developed framework, more information on which can be obtained at www.robeco.com/si.

Price development

No performance data available

Price development

RobecoSAM Sustainable Healthy Living Equities D 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).
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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

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Based on transaction prices, the fund's return was 0.31%. The RobecoSAM Sustainable Healthy Living Equities strategy performed positively in the first quarter, lagging the broad global markets, but closing better than its investable universe. This underperformance versus the broad market is largely explained by the marked outperformance of the energy sector, which is absent from the Healthy Living investable universe. The Lifestyle Disease Solutions and the Healthy Nutrition clusters both benefited from their defensiveness and performed best, while the Activity and Hygiene & Personal Care clusters suffered due to their higher exposure to demand destruction by inflation and margin contraction from higher cost lines. On an individual stock level, unsurprisingly the biggest positive contributions came from healthcare stocks, in particular Novo Nordisk, UnitedHealth and Roche, which were sought after due to their defensive qualities. The biggest negative contributions came from frozen food company Nomad Foods on concerns that it has to find a more expensive supply for its frozen fish products, which so far was sourced from Russia.

Statistics

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Market development

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Markets started the year in quite volatile and challenging conditions. The more restrictive monetary policies pursued by the US and European central banks, high inflation numbers especially in the US, ongoing supply chain issues and the start of the war in Ukraine in February caused a market correction, which reached its lowest point around 8 March. From then on, however, markets bounced back markedly on optimism that the military conflict will remain confined and that the economic and geopolitical headwinds will reduce growth by a couple of percentage points, but not cause a full recession. Increasing energy prices drove a marked outperformance of the energy sector in March. On the flip side, rising energy, transport, wage and raw material input costs weighed on consumer staples and food companies, many of which were preparing investors for lower margins in 2022. There were concerns about demand destruction by inflation-impacted consumer discretionary companies. Importantly for the Healthy Living strategy, healthcare stocks played out their safe haven status and outperformed the broad markets.

Fund allocation

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Name Sector Weight
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Currency policy

The fund is allowed to pursue an active currency policy to generate extra returns and can engage in currency hedging transactions.

Dividend policy

In principle the fund does not intend to distribute dividend and so both the income earned by the fund and its overall performance are reflected in its share price.

ESG Integration policy

The fund’s sustainable investment objective is to promote good health and well-being and contributing to an efficient healthcare system. Healthy living and sustainability considerations are incorporated in the investment process by the means of a target universe definition, exclusions, ESG integration, and voting. The fund only invests in companies that have a significant thematic fit as per Robeco's thematic universe methodology. Through screening on both Robeco's internally developed SDG Framework and Robeco’s exclusion policy, the fund does not invest in issuers that have a negative impact on the SDGs, are in breach of international norms or where products have been deemed controversial. Financially material ESG factors are integrated in the bottom-up fundamental investment analysis to assess existing and potential ESG risks and opportunities. 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.

Investment policy

RobecoSAM Sustainable Healthy Living Equities is an actively managed fund that invests globally in companies that promote good health and well-being and contribute to an efficient healthcare system. 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 sustainable investment as its objective within the meaning of Article 9 of the European Sustainable Finance Disclosure Regulation. The fund aims to mitigate the rising incidence of chronic “lifestyle diseases” and increasing healthcare costs by investing in companies that provide technologies, products or services linked to the prevention of disease through healthy eating habits, regular exercise and the use of hygiene measures to reduce the spread of infectious diseases. This is done by investing in companies that mainly advance the following UN Sustainable Development Goals (UN SDGs): Good health and well-being, Zero hunger, Industry, innovation and infrastructure, and Clean water and sanitation. Alongside proxy voting and engagement, the fund applies Robeco’s Exclusion Policy of excluding investments in companies exposed to controversial behavior and controversial products (including weapons, tobacco, palm oil, fossil fuel, military contracting, firearms, nuclear power, cannabis, alcohol, gambling, adult entertainment and cannabis). The strategy integrates sustainability criteria as part of the stock selection process and through a theme-specific sustainability assessment. The portfolio is built on the basis of an eligible investment universe that includes companies whose business models contribute to the thematic investment objectives. The assessment regarding relevant SDGs uses an internally developed framework, more information on which can be obtained at www.robeco.com/si. Benchmark: MSCI World Index TRN. The majority of stocks selected will be components of the benchmark, but stocks outside the benchmark may be selected too. While the investment policy is not constrained by a benchmark, the fund may use one for comparison purposes. The fund can deviate substantially from the issuer, country and sector weightings of the benchmark. There are no restrictions on the deviation from the benchmark. The benchmark is a broad market-weighted index that is not consistent with the sustainable objective of the fund.

Risk policy

Risk management is fully integrated into the investment process to ensure that positions always meet predefined guidelines.

Sustainability profile

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SDG Contribution

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The SDG score shows to what extent the portfolio and the benchmark contribute to the 17 UN Sustainable Developments Goals (SDGs). Scores are assigned to each underlying company using the Robeco SDG Framework, which utilizes a three-step approach to calculate a company’s contribution to the relevant SDGs. The starting point is an assessment of the products offered by a company, followed by the way in which these products are produced, and finally whether the company is exposed to any controversies. The outcome is expressed in a final score which shows the extent to which a company impacts the SDGs on a scale from highly negative (dark red) to highly positive (dark blue). The bar shows the aggregate percentage exposure of the portfolio and the benchmark (shaded) to the different SDG scores. This is then also split out per SDG. As a company can have an impact on several SDGs (or none), the values shown in the report do not sum to 100%. More information on Robeco’s SDG Framework can be found at: https://www.robeco.com/docm/docu-robeco-explanation-sdg-framework.pdf

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CGF HEAL_20220331-CGF HEAL_20220331-sdgIndividualImpact1_noPoverty.png CGF HEAL_20220331-CGF HEAL_20220331-sdgIndividualImpact2_zeroHunger.png CGF HEAL_20220331-CGF HEAL_20220331-sdgIndividualImpact3_goodHealthAndWellBeing.png CGF HEAL_20220331-CGF HEAL_20220331-sdgIndividualImpact4_qualityEducation.png CGF HEAL_20220331-CGF HEAL_20220331-sdgIndividualImpact5_genderEquality.png CGF HEAL_20220331-CGF HEAL_20220331-sdgIndividualImpact6_cleanWaterAndSanitation.png CGF HEAL_20220331-CGF HEAL_20220331-sdgIndividualImpact7_affordableAndCleanEnergy.png CGF HEAL_20220331-CGF HEAL_20220331-sdgIndividualImpact8_decentWorkAndEconomicGrowth.png CGF HEAL_20220331-CGF HEAL_20220331-sdgIndividualImpact9_industryInnovationAndInfrastructure.png CGF HEAL_20220331-CGF HEAL_20220331-sdgIndividualImpact10_reducedInequalities.png CGF HEAL_20220331-CGF HEAL_20220331-sdgIndividualImpact11_sustainableCitiesAndCommunities.png CGF HEAL_20220331-CGF HEAL_20220331-sdgIndividualImpact12_responsibleConsumptionAndProduction.png CGF HEAL_20220331-CGF HEAL_20220331-sdgIndividualImpact13_climateAction.png CGF HEAL_20220331-CGF HEAL_20220331-sdgIndividualImpact14_lifeBelowWater.png CGF HEAL_20220331-CGF HEAL_20220331-sdgIndividualImpact15_lifeOnLand.png CGF HEAL_20220331-CGF HEAL_20220331-sdgIndividualImpact16_peaceJusticeAndStrongInstitutions.png CGF HEAL_20220331-CGF HEAL_20220331-sdgIndividualImpact17_partnershipForTheGoals.png

Sustainability

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The fund’s sustainable investment objective is to promote good health and well-being and contributing to an efficient healthcare system. Healthy living and sustainability considerations are incorporated in the investment process by the means of a target universe definition, exclusions, ESG integration, and voting. The fund only invests in companies that have a significant thematic fit as per Robeco's thematic universe methodology. Through screening on both Robeco's internally developed SDG Framework and Robeco’s exclusion policy, the fund does not invest in issuers that have a negative impact on the SDGs, are in breach of international norms or where products have been deemed controversial. Financially material ESG factors are integrated in the bottom-up fundamental investment analysis to assess existing and potential ESG risks and opportunities. 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.

Expectation of fund manager

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In the face of extraordinary demand in the aftermath of pandemic lockdowns, supply chain shortages and inflationary pressures have developed. We expect these to ease in the course of this year, when normalizing consumer spending habits should drive growth. At the same time, the upcoming rate hikes by the US Federal Reserve and the war in Ukraine are creating tensions in the capital markets. This will probably create a market environment with a larger dispersion of equity returns than in the past few years. It will therefore be even more important to focus on solid business fundamentals and quality. We remain constructive on the mid to long-term potential of the equity markets and are making use of the current market conditions to further solidify our positions in companies that have very strong long-term business prospects. We expect that the pandemic will also offer opportunities to implement changes to build more robust and sustainable economies. This, in turn, will make individuals more inclined to adopt a healthier lifestyle. Therefore, the Healthy Living portfolio of sustainable companies should be well positioned to benefit from these changes in the longer run.

David Kägi, PhD
David Kägi, PhD

David Kägi, PhD

David Kägi is Portfolio Manager of the RobecoSAM Sustainable Healthy Living Equities strategy. He joined Robeco in 2019. 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. He also managed the Demography Health basket certificate for Bank J. Safra Sarasin for a five year period. Prior to this, he was an investment analyst for private biotechnology companies with Schweizerhall Management AG in Zurich. He started his career in finance in 2003 as a Healthcare Analyst at the investment company BT&T after some years in biomedical research. David holds a Master’s in Biochemistry and a PhD in T-cell Immunology, both from ETH Zurich.

Details

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Management company
Fund capital
Size of share class
Outstanding shares
ISINLU2146189407
BloombergRSSHLDE LX
Valoren55753607
WKNA2QBUN
Availability
1st quotation date1603929600000
Close financial year31-12
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Tracking error limit (%)
Morningstar
Reference index

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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.

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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). 

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