Robeco Emerging Markets Climate Transition Equities F EUR

Finding alpha in opportunities that support the climate transition in Emerging Markets

Share classes Share classes 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

Asset class
Equities
ISIN
LU2818102274
Bloomberg
REMCTFE LX

Asset class

Equities

ISIN

LU2818102274

Bloomberg

REMCTFE LX

Index

MSCI Emerging Markets Index (Net Return, EUR)

Sustainability-related information
Sustainability-related information
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.

Article 8

Overview Performance & costs Portfolio Sustainability Commentary Documents

Key points

Investing in companies that are leading or enabling the climate transition in emerging markets
Leveraging Robeco's proprietary climate research and IP, combined with a strong track record in emerging markets equities
Investing in companies that contribute to a cleaner world while maintaining financial discipline

About this fund

Robeco Emerging Markets Climate Transition Equities is an actively managed sub-fund that invests in equities in emerging countries across the world. The Sub-fund will take exposure of at least two thirds of its total assets to equities of companies incorporated or exercising a preponderant part of their economic activities in Emerging Countries. The stock selection is based on fundamental analysis. The Sub-fund aims to make investments in assets that contribute to a climate transition. Climate transition pertains to the transitional efforts required to limit global temperature increase to well-below 2°C degrees, aligned with the goals of the Paris Agreement. This is achieved by investing in companies that are making the transition and companies are enabling the transition, as described in the Prospectus.

Key facts

Per 31-10-2025

Total size of fund	EUR 8,515,303
Size of share class	EUR 31,085
Inception date share class	24-06-2024
1-year performance	22.27%
Dividend paying	No

Fund manager

Rob Schellekens
Daniela da Costa
Jaap van der Hart

Rob Schellekens is Lead Portfolio Manager of the Emerging Markets ex-China fund. On the research side he provides coverage of Russia, South America ex-Brazil and the Middle East. Prior to joining Robeco in 2005, Rob was an Analyst at Integra in Peru and at RBC Global Investment Management in Canada where he started his career in the industry in 2004. He holds a Bachelor's Honors in Economics from the Queen's University in Canada. Daniela da Costa is co-portfolio manager of Robeco's Global SDG Engagement fund and has a research focus on Brazil and the African consumer sector. Prior to joining Robeco in 2010, she was Portfolio Manager Latin American Equities at Nomura in London. Before that, Daniela worked at HSBC and with the Petrobras pension fund in Brazil. She started her career in the industry in 1997. Daniela holds a Master's in Economics from the Brazilian Capital Markets Institute in Rio de Janeiro (IBMEC-RJ) and a MBA certificate in pension fund asset management from the Federal University of Rio de Janeiro (COPPE-UFRJ). She is board member of AMEC, the Brazilian stewardship agency and a member of Robeco’s SDG committee and Biodiversity Task Force. Jaap van der Hart is the Lead Portfolio Manager of Robeco’s High Conviction Emerging Stars strategy. Over time, he has been responsible for the investments in South America, Eastern Europe, South Africa, Mexico, China and Taiwan. He also coordinates the country allocation process. He started his career in the investment industry in 1994 at Robeco's Quantitative Research department and moved to the Emerging Markets Equity team in 2000. Jaap holds a Master's in Econometrics from Erasmus University Rotterdam. He has published several academic articles on stock selection in emerging markets.

Per period	Fund	Reference index
1 month	9.02%	6.06%
3 months	17.98%	12.12%
YTD	21.02%	19.20%
1 year	22.27%	20.32%
Since inception 24-06-2024	17.47%	17.17%

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.	1.05%
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.	0.20%

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 31-10-2025

Market development

Per 31-10-2025

In October, emerging markets equities posted a gain of 6.1% (EUR), outperforming developed markets which rose 3.8%. The Federal Reserve implemented another 25-basis-point interest rate cut and concluded its balance sheet runoff. This move supported investor appetite for riskier assets, such as emerging market stocks. The global enthusiasm for artificial intelligence continued to be a significant tailwind, boosting technology and semiconductor-heavy markets. Additionally, progress in trade negotiations between the US and China, particularly concerning rare earth minerals, provided a lift to Asian markets deeply integrated into global electronics supply chains. The one-year truce between US and China on tariffs and exports means that the average effective rate on China will fall from 42% to 32%. South Korea performed strongly in October. The conclusion of the US-South Korea tariff negotiations toward the end of October and the continuation of the global AI capex keeps benefiting its semiconductor-heavy market. Other markets that did well this month include Taiwan, Hungary, Colombia and Peru, while China, Greece and Turkey lagged.

Performance explanation

Per 31-10-2025

Based on transaction prices, the fund's return was 9.02%. In October, the portfolio outperformed the benchmark with both allocation and stock selection having a positive effect. The biggest contributors were our underweight in China and Saudi Arabia, as well as the overweight in South Korea. The electric equipment sector was the top contributor to performance, reflecting the surging demand from the IT sector for energy infrastructure. Sieyuan Electric and Hyundai Electric contributed the most. LG Chem's stock also outperformed in an anticipation of value-up shareholder return initiatives. SQ Square shares also performed well, pushed by its subsidiary in memory chips SK hynix. Kia shares also contributed after the US-South Korea agreement. On the negative side, CATL fell ahead of the November lockup expiry post-IPO. China Datang and Zhuzhou CRRC shares fell after disappointing 2025Q3 results. Yadea lagged on investors' concerns about the execution risks of the company's European expansion. Metlen Energy and Metals detracted after brokers downgrade.

Expectation of fund manager

Rob Schellekens
Daniela da Costa
Jaap van der Hart

The US remains a source of uncertainty in today's global economy with rising fiscal deficits, higher US import tariffs and erratic policy making. However, as the majority of earnings from emerging companies is domestically focused, we think the US itself will be most impacted. Global investors seem likely to diversify away from the US, which so far has resulted in a weaker US dollar. With the current America First focus, emerging markets are having to rely more on their own domestic policies and growth opportunities. We expect higher structural economic growth compared to developed markets, while macroeconomic stability has significantly improved. Emerging equity markets' valuations are attractive relative to developed markets, with discounts of more than 30% based on earnings multiples. At the same time, expected earnings growth for this year is 10%, above the 8% expected growth for developed markets.

A provision for exchange rate fluctuation when representations are made in foreign currencies (i.e. Any representations made which are not denominated in HKD/ USD/ EUR) may expose investors to exchange rate fluctuations.

Investment involves risks. Past performance is not indicative of future performance. The information contained in this website is provided for reference only and does not constitute any investment advice. Investors are advised to seek independent advice before making any investment decision. Please refer to the relevant offering documents for details including the risk factors before making any investment decisions. This web page is published by Robeco Hong Kong Limited and has not been reviewed by the Securities and Futures Commission.

Positive distribution yield does not imply positive return. Investors should not make any investment decision solely based on information contained in the table. You should read the relevant offering document (including the key facts statement) of the fund for further details including the risk factors.

Annualized dividend yield is calculated with the following formula: (Dividend payout per share / Net Asset Value (NAV) per share on the last business day of the previous month the dividend was paid in) x (12 / Number of month(s) since the last dividend payment) x 100%. Positive distribution yield does not imply a positive return. The yield figure is for reference only.

Where a reference is made to the frequency of dividend distributions, this frequency is an aim and not a guarantee. The fund may at its discretion pay dividend out from capital. Dividend yield is not guaranteed, and is not indicative the return of the Fund. The yield figure is for reference only. The fund may at its discretion to pay dividend out from capital. Distributions out of capital may result in the reduction of an investor’s original capital invested in the Sub-fund or from any capital gains attributable to that original investment of the Sub-fund. Also, any distributions involving the capital and/or capital gains may result in an immediate reduction of the net asset value per share of the relevant class. Payment of dividends out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. If there is a change of distribution policy of the Sub-fund, the Management Company will seek the prior approval of the Securities and Futures Commission in Hong Kong ('SFC') and provide at least one month’s prior notice to affected Shareholders.

Robeco Emerging Markets Climate Transition Equities F EUR

Finding alpha in opportunities that support the climate transition in Emerging Markets

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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