Rolinco EUR G
Investing in structural trends worldwide
Every share class of a product invests in the same portfolio of securities and has the same investment objectives and policies. However, their parameters might deviate. For instance and amongst others, their distribution type, currency exposure or fees and expenses might differ. The most common share classes at Robeco are:
a) D/DH shares, which are regular shares and available for all Investors;
b) I/IH shares, for institutional investors as defined from time to time by the Luxembourg supervisory authority.
For more information on share classes please go to the prospectus.
Class and codes
MSCI All Country World Index (Net Return, EUR)
Under the EU Sustainable Finance Disclosure Regulation, products can be labelled as either Article 6, 8 or 9 fund.
Article 6 - The fund is not in scope of enhanced sustainability disclosures compared to Article 8 and 9.
Article 8 - The fund does not have a sustainable investment objective but promotes environmental or social characteristics and is subject to enhanced sustainability disclosures.
Article 9 - The fund has a sustainable investment objective and is subject to enhanced sustainability disclosures.
Regardless of Article 8 or 9, the companies in which investments are made must follow good governance practices, and sustainable investments must not do any significant harm.
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- Performance & costs
- Invests in the structural trends worldwide (e.g. "the digital world" and the Industrial Renaissance)
- Top-down theme selection and bottom-up stock selection using proprietary valuation models
- Risk limitation through global diversification
About this fund
Rolinco is an actively managed fund that invests worldwide in equities from developed and emerging countries. The selection of these stocks is based on a fundamental analysis. The fund's objective is to achieve a better return than the index. The fund focuses on growth by investing in promising long-term growth trends. It also invests in five different and independent top-down trends: the digital world, the emerging middle class, resource stewardship, connected enterprise, and healthy aging. Within the identified growth trends, the fund mainly invests in shares of companies that have the purest possible exposure to the trends.
Total size of fund
Size of share class
Inception date fund
Marco van Lent
Marco van Lent is Lead Portfolio Manager Robeco MegaTrends/Rolinco, Portfolio Manager Robeco Digital Innovations and member of the Thematic Investing team. Before 2013, he managed Robeco Infrastructure Equities. Marco joined Robeco in October 2007 to co-manage two European equity funds. He worked at Van Lanschot Asset Management to manage the Van Lanschot European Equity Fund. After the acquisition of Kempen Capital Management by Van Lanschot, he worked at Kempen Capital Management for six months to manage European equity mandates. He was Portfolio Manager European equities at Philips Investment Management in the period 1999-2005 and in the period 1996-1999 he was Portfolio Manager at Van Spaendonck Asset Management. He started his investment career in 1985 as a sell-side analyst/strategist. Marco holds a Master's in Business Economics and Finance from Tilburg University. Steef Bergakker is Portfolio Manager Robeco MegaTrends/Rolinco, Portfolio Manager Robeco Digital Innovations and member of the Thematic Investing team. Previously, he was trends researcher within the Trends Equities team and has authored several white papers. Before that, Steef was portfolio manager of Robeco Infrastructure Equities and Robeco Hollands Bezit. Prior to rejoining Robeco in 2008, Steef held different functions at IRIS (Institute for Research and Investment Services), the former research joint venture of Robeco and Rabobank. From 1998 through 2008 he served as head of IRIS Equity Research, and before that he worked as equity analyst for eight years. Steef started his career in the investment industry at Robeco in 1990 as an analyst. He holds a Master’s in Monetary Economics and Finance and Investments from Erasmus University Rotterdam. Dora is Portfolio Manager Robeco MegaTrends/Rolinco and member of the Thematic Investing team. She joined Robeco in 2021 and is dedicated to the MegaTrends strategy. Dora holds experience as a buy-side research analyst who held positions as analyst and investment manager with Baillie Gifford for 6 years. In the last year she was a research consultant for a large UK-based global impact fund, providing long-term fundamental, industry-agnostic and sustainability-focused investment research. Dora is a CFA® Charterholder and obtained her Master of Arts in Economics and Chinese from the University of Edinburgh.
- Per period
- Per annum
Since inception 11/1965
Tracking error ex-post (%)
The ex-post tracking error is defined as the volatility of the fund's achieved excess return over the index return. In fund management, most managers are subject to an ex-ante (pre-determined) tracking error, which defines the extent of the additional risk they may take when aspiring to outperform the fund's benchmark. The ex-post tracking error explains the distribution of past fund performances compared to those of its underlying benchmark. With a higher tracking error, the fund's returns deviate more from its index's returns, hence there is a greater chance that the fund may outperform. The wider the spread of returns relative to the benchmark, the more "actively" a fund has been managed. In contrast, a low tracking error indicates more "passive" management.
This ratio serves to evaluate the quality of the excess return a fund manager has achieved because it takes the active risk involved into account. The information ratio is defined as the excess return over the benchmark return divided by the fund's tracking error. The higher the information ratio, the better. For example, a fund with a tracking error of 4% and an excess return of 2% over benchmark has an information ratio of 0.5, which is quite good.
This ratio measures the risk-adjusted performance and allows the performance quality of different investments to be compared. It is calculated by subtracting the risk-free rate from the fund's returns and dividing the result by the fund's standard deviation (risk). So the Sharpe ratio tells us whether a fund's returns are the result of smart investment decisions or stem from taking extra risk. The higher the ratio, the better, meaning that a greater return is achieved per unit of risk. This ratio is named after its inventor, Nobel Laureate, William Sharpe.
Alpha measures the difference between a portfolio's actual return and its expected performance, given the level of risk, compared to the benchmark. A positive alpha figure indicates that the fund has performed better than expected, given the level of risk. Beta is used to calculate the level of risk compared to the benchmark..
Beta is a measure of a portfolio's volatility, or systematic risk, in comparison to the benchmark. A beta of 1 indicates that the portfolio will move with the benchmark. A beta of less than 1 means that the portfolio will be less volatile than the benchmark. A beta of more than 1 indicates that the portfolio will be more volatile than the benchmark. For example, if a portfolio's beta is 1.2 it is theoretically 20% more volatile than the benchmark.
Standard deviation is a measure of the dispersion of a set of data from its mean. The more spread out the data is, the higher the deviation. In finance, standard deviation is applied to the annual rate of return of an investment to measure the investment's volatility (risk).
Max. monthly gain (%)
The maximum (i.e. highest) absolute positive monthly performance in the underlying period.
Max. monthly loss (%)
The maximum (i.e. highest) absolute negative monthly performance in the underlying period.
Months out performance
Number of months in which the fund outperformed the benchmark in the underlying period.
Hit ratio (%)
This percentage indicates the number of months in which the fund outperformed in a given period.
Months Bull market
Number of months of positive benchmark performance in the underlying period.
Months outperformance Bull
Number of months in which the fund outperformed positive benchmark performance in the underlying period.
Hit ratio Bull (%)
This percentage indicates the number of months the fund outperformed a positive benchmark in an underlying period.
Months Bear market
Number of months of negative benchmark performance in the underlying period.
Months outperformance Bear
Number of months in which the fund outperformed negative benchmark performance in the underlying period.
Hit ratio Bear (%)
This percentage indicates the number of months the fund outperformed a negative benchmark performance in an underlying period.
Dividend paying history
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.
Included management fee
A fee paid by the fund to the asset management company for the professional management of the fund.
Included service fee
This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.
The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.
Fiscal product treatment
The fund is established in the Netherlands. The fund is managed as a 'naamloze vennootschap' (public limited company). The fund has the status of 'tax-exempt investment institution' in the sense of article 6a of the Dutch Corporate-Income Tax Act 1969, and, as such, is exempt from corporate-income tax. The fund is also exempt from withholding Dutch dividend tax on its dividend distributions. In principle the fund cannot use the Dutch treaty network to reduce any foreign withholding tax, nor can it recover any Dutch dividend tax on its income.
Fiscal treatment of investor
For private investors residing in the Netherlands real interest and dividend income or capital gains received on their investments are not relevant for tax purposes. Participating units held by private investors who are taxpayers in the Netherlands belong in Box 3. If and insofar as an investor's net assets exceed the net wealth exemption limit, said investor is liable from 1 January to pay 1.2% annually on the balance of his or her net assets. Investors who are subject to Dutch corporate-income tax will be taxed for the result achieved on their investment in the fund. This result can consist of realized current income, and realized and unrealized capital gains. For Dutch corporate-income tax purposes, the shares or participating units must be valued at market value in the balance sheet and dividends received must be included in the taxable result. Investors who are not subject to (exempt from) Dutch corporate-income tax (e.g. pension funds) are not taxed on the achieved result. Investors residing outside the Netherlands are subject to their respective national tax regime applying to foreign investment funds. The above is based on the current fiscal legislation and regulations in the Netherlands. 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.
- Top 10
The fund can engage in currency hedging transactions.
Rolinco pays out dividends received from the investments in stocks.
Rolinco is an actively managed fund that invests in equities from developed and emerging countries around the world. The selection of these stocks is based on a fundamental analysis. The fund's objective is to provide long term capital growth. The fund promotes E&S (i.e. Environmental and Social) characteristics within the meaning of Article 8 of the European Sustainable Finance Disclosure Regulation, integrates sustainability risks in the investment process and applies Robeco’s Good Governance policy. The fund applies sustainability indicators, including but not limited to, normative, activity-based and region-based exclusions. The fund focuses on growth by investing primarily in promising trends. The Fund invests in a minimum of three and a maximum of four different growth trends. Therefore, the fund invests directly in shares of companies that have the possible exposure to any of these trends.
Risk management is fully integrated in the investment process to ensure that positions always meet predefined guidelines.
The fund incorporates sustainability in the investment process through exclusions, ESG integration, engagement and voting. The fund does not invest in issuers that are in breach of international norms or where activities have been deemed detrimental to society following Robeco's exclusion policy. Financially material ESG factors are integrated in the bottom-up investment analysis to assess existing and potential ESG risks and opportunities. In the stock selection the fund limits exposure to elevated sustainability risks. In addition, where a stock issuer is flagged for breaching international standards in the ongoing monitoring, the issuer will become subject to engagement. Lastly, the fund makes use of shareholder rights and applies proxy voting in accordance with Robeco's proxy voting policy.
The global markets meanwhile continued their upward trajectory, rose-tinted glasses seemingly firmly on, with the MSCI ACWI up another 2.6% in July and 14.3% year-to-date. Notably Chinese stocks rose following the Chinese government's acknowledgement of the internet sector's importance to economic growth and innovation.
Based on transaction prices, the fund's return was 2.00%. Our largest trend, Connected Enterprise, was down 0.8% for the month. Despite positive returns from Intuit (+11%), Salesforce (+5%) and Zebra Technologies (+3%) in the month, larger positions in Keyence (-5%), Keysight (-5%) and Palo Alto Networks (-3%) detracted. The Digital World trend rose 6% thanks to continued strong performance of the fund's largest position, NVIDIA (+9%), as well as Alphabet (+10%), which reported better-than-expected quarterly results, driven by growth in its cloud business. The positive performance of our Emerging Middle Class trend can be mainly attributed to Chinese stocks. Healthy Aging, our second-largest trend, was down 0.4% for the month.
Expectation of fund manager
Marco van Lent
Within Rolinco's broad trends, we find opportunities in various areas. In Connected Enterprise, we are enthusiastic about companies that are specifically exposed to onshoring, cybersecurity and automation trends. In Digital World, pandemic winners facing losses have been heavily impacted by the reversal of digitalization trends and higher interest rates, but we believe the sell-off has been excessive. Our e-commerce and payment platforms are expected to benefit from lower comparisons and improved financial characteristics in the future. The relaxation of China's zero-Covid policy and the digitalization and formalization of financial and commerce sectors in frontier markets are positive factors for our holdings in the Emerging Middle Class trend. Within Healthy Aging, companies affected by Covid-related disruptions and hospital budget cuts present upside potential. Lastly, companies contributing to Resource Stewardship by promoting energy efficiency, circularity, and grid electrification will continue to benefit from positive demand momentum, supported by government stimuli, particularly in the United States.
- Delisting from Euronext Fund Services Amsterdam (01-09-2023)
- Publication semi-annual reports 2023 (31-08-2023)
- Betaalbaarstelling interim-dividend (08-06-2023)
- Several Robeco funds: Advertisement Dividend 2022 (31-05-2023)
- Annual General Meeting Documents (24-05-2023) (24-05-2023)
- Several Robeco funds: Publication Annual Report (28-04-2023)
- Advertisements AGM several Robeco funds (11-04-2023) (11-04-2023)
- Press release dividend proposal for Robeco funds (04-04-2023)
- Publication Semi-annual reports 2022 (31-08-2022)
- Advertisement publication annual report (08-11-2019)