Gravis Digital Infrastructure Income F EUR - LU2739682024

Key points

Benefiting from strong digital megatrends (e.g. 5G, A.I., E-commerce)
Focus on physical digital infrastructure assets in developed markets
Combines income objective with growth opportunities

About this fund

The Robeco Gravis Digital Infrastructure Income Fund invests in a globally diversified portfolio of best-in-class real estate and infrastructure companies that are listed in developed markets and are likely to benefit from the digitalization of economies, changing the way we work, live and play. The selected real estate and infrastructure companies own, operate or finance tangible assets, such as communication towers, data centers, distribution centers that enable the fulfilment of e-commerce, fiber optic networks, smart grids, battery storage, and warehouses.

Key facts

Per 30-11-2025

Total size of fund	EUR 2,891,500
Size of share class	EUR 2,720,017
Inception date share class	29-02-2024
1-year performance	-10.09%
Dividend paying	No

Fund manager

Matthew Norris

Matthew Norris is Portfolio Manager of the Robeco Gravis Digital Infrastructure Income fund. He is responsible for the oversight of the VT Gravis UK Listed Property Fund and the VT Gravis Digital Infrastructure Income Fund. Matthew has more than two decades investment management experience and has a specialist focus on real estate securities and digital infrastructure investments. He served as an Executive Director of Grosvenor Europe where he was responsible for global real estate securities strategies. He joined Grosvenor following roles managing equity funds at Fulcrum Asset Management and Buttonwood Capital Partners. He joined the industry in 1994. Matthew has a Bachelor of Artis in Economics & Politics from the University of York. He is a CFA® Charterholder and holds the Investment Management Certificate (IMC).

Per period	Fund	Reference index
1 month	-2.83%	1.67%
3 months	-1.87%	2.50%
YTD	-4.46%	-0.35%
1 year	-10.09%	-5.27%
Since inception 01-03-2024	-2.14%	5.86%

Cost of this fund	Percentage
Ongoing charges Indication of annual charges that are deducted for this fund. This indication is based on the costs over the last calendar year and may vary from year to year. Transaction costs incurred by the fund, any performance fees and other one-off costs are not included in the ongoing charges.	1.04%
Included management fee A fee paid by the fund to the asset management company for the professional management of the fund.	0.80%
Included service fee This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.	0.16%
Transaction costs The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.	0.08%

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.

Policies

Per 30-11-2025

Market development

Per 30-11-2025

Although the longest US government shutdown, lasting 43 days, ended in the middle of November, market uncertainty regarding the ambiguous data environment, the impact on growth, and the progress of monetary policy weighed on market sentiment. Excellent quarterly results from NVIDIA failed to allay concerns about high valuations and fears of overly optimistic profit expectations in the AI market. The US labor market data painted a mixed picture, as unemployment continued to creep up in September to 4.4% and continuing jobless claims rose to the highest level in three years. Global bond markets were essentially flat over the month, returning 0.2%, with the weaker US labor market data and consumer confidence data providing some support.

Performance explanation

Per 30-11-2025

Based on transaction prices, the fund's return was -2.83%. Fund performance was down in November. The logistics subsector performed the strongest. Cell towers, data centers and networks all delivered negative returns. However, these negative returns were offset to an extent by positive performance in the logistics sector, which further emphasizes the benefits of running a diversified portfolio.

Expectation of fund manager

Matthew Norris

The investment manager remains positive about the digital infrastructure sector, supported by the strong performance of portfolio assets. Cordiant Digital Infrastructure delivered a positive set of interim results, announcing an NAV total return of 10%, with NAV per share increasing by 8% from 129.6 bps to 140 bps. This was supported by solid underlying revenue generation from its six portfolio companies, with revenue increasing by 7% on a constant currency, pro forma basis. Earnings were also up by 6.5% in the period. This further reiterates the growth inherent to the digital infrastructure sector. In addition, Helios Towers was added to the portfolio during the month. The company is a leading communications towers company, positioned to capture the growth in mobile communications across Africa and the Middle East. After a disappointing performance, Cogent Communication was removed from the portfolio.

Robeco Gravis Digital Infrastructure Income F EUR

High conviction thematic global equity strategy investing in physical digital infrastructure assets

Key points

About this fund

Key facts

Fund manager

Performance

Costs

Fiscal product treatment

Fiscal treatment of investor

Fund allocation

Policies

Market development

Performance explanation

Expectation of fund manager

Fund documents

Annual and Semi-Annual Reports

Announcements

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