Aggregate Fixed Income

Fundamentally managed fixed income strategy with a contrarian style

Key points:

Portfolio managers have flexibility to exploit opportunities across the global fixed income universe
ESG is integrated in our approach to country and issuer selection
Research drives our investment themes and views

Philosophy

Bond markets are inefficient. We have the capability and process in place to identify and exploit these inefficiencies over the market cycle, by adopting a contrarian approach to markets with a focus on value.

Fixed Income markets are segmented as a result of various factors, including mandate restrictions across investor types and organizational rigidities. This can lead to dislocations and changes in relationships between segments. Our flexible strategy can choose from a palette of opportunities and transcend many of these artificial market barriers, both at a regional and asset class level.

Process

The strategy’s investment process consists of four steps.

Step 1: Quarterly outlooks. We gather fundamental input, analyze major economies and place this in a cyclical context, looking at interest rate and credit spread cycles.

Step 2: Portfolio construction & optimization. We discuss and establish where we believe different fixed income segments are in a cyclical framework. This forms the foundation for our strategic fixed income asset allocation positions.

Step 3: Risk management. We manage overall portfolio risks on an ongoing basis.

Step 4: Implementation. We support our portfolio managers with our experienced portfolio engineering and trading team for the purpose of portfolio implementation, allowing them to focus on new opportunities.

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Team

The portfolio managers are responsible for the overall positioning of the strategy, including cross-asset allocation within the fixed income universe, duration management, yield curve, and country and currency positioning. The portfolio managers are part of the Global Macro team, which consists of very experienced portfolio managers, economists, strategists and macro analysts.

Contact

Subjects related to this strategy are:

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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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