Robeco QI Long/Short Dynamic Duration DH USD

Systematic and active duration management within bonds and similar fixed income securities

Anteilklasse Anteilklasse 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.

Gattung und Codes

Anlagegattung
Bonds
ISIN
LU0254675159
Bloomberg
ROBFODU LX

Anlagegattung

Bonds

ISIN

LU0254675159

Bloomberg

ROBFODU LX

Benchmark

ICE BofA SOFR Overnight Rate Index

Angaben zur Nachhaltigkeit
Angaben zur Nachhaltigkeit
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.

Artikel 8

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Rating

( 30-06 )

Überblick Wertentwicklung & Gebühren Vermögensaufstellung Nachhaltigkeit Kommentar Unterlagen

Merkmale

Benefiting from falling and rising bond yields
Quantitative model anticipating bond market direction
Proven track record in challenging market environments

Über diesen Fonds

Robeco QI Long/Short Dynamic Duration is an actively managed fund that invests mainly in bonds and similar fixed income securities with a short duration and takes active long or short duration (interest-rate sensitivity) positions, implemented using bond futures. The fund can benefit from rising yields (with short positions) as well as from declining yields (with long positions). The duration positioning of the fund is based on Robeco’s quantitative duration model. The fund's objective is to provide long term capital growth.

Wichtige Fakten

Per 30-06-2026

Fondsvolumen	USD 30,889,569
Größe der Anteilsklasse	USD 2,138,360
Auflegungsdatum der Anteilsklasse	01-06-2006
1 Jahr Wertentwicklung	2.59%
Ertragsverwendung	Thesaurierend

Fondsmanagement

Olaf Penninga
Lodewijk van der Linden
Johan Duyvesteyn

Olaf Penninga is Portfolio Manager Quant Fixed Income. He has been Portfolio Manager for Global Dynamic Duration since 2005 (Lead portfolio manager since 2011). Furthermore, he has been the Lead Portfolio Manager of the Global Multi-Factor Bonds strategy since inception in 2019. His previous positions with Robeco include that of Lead Portfolio Manager for Robeco’s fundamentally-managed Euro Government Bonds strategy and Researcher with responsibility for fixed income allocation research. Olaf was employed by Interpolis as Investment Econometrician for one year before returning to Robeco in 2003. He started his career in 1998 at Robeco. He holds a Master's in Mathematics (cum laude) from Leiden University. Lodewijk van der Linden is a portfolio manager in the Quant Fixed Income team. Lodewijk has published in the Financial Analyst Journal on the best defensive strategies, has written on leveraging the volatility effect in the Journal of Portfolio Management and on the application of Credit Default Swap Indices in the Journal of Asset Management. He joined Robeco in August 2018. In the period 2015-2018 Lodewijk worked at Aegon Asset Management where he was Risk associate and Team Manager Client Reporting. Lodewijk started his career at PwC as an actuarial consultant in 2013. He holds a Master's in Actuarial Science from the University of Amsterdam and a Master's in Econometrics and Management Science from Erasmus University Rotterdam. Johan Duyvesteyn is a portfolio manager in the Quant Fixed Income team. His areas of expertise include government bond market timing, credit beta market timing, country sustainability and emerging-market debt. He has published in the Financial Analysts Journal, the Journal of Empirical Finance, the Journal of Banking and Finance, and the Journal of Fixed Income. Johan started his career in the industry in 1999 at Robeco. He holds a PhD in Finance, a Master's in Financial Econometrics from Erasmus University Rotterdam and he is a CFA® Charterholder.”

Pro Zeitraum	Fonds	Index
1 Monat	-0.19%	0.32%
3 Monate	0.83%	0.92%
Lfd. Jahr	1.04%	1.85%
1 Jahr	2.59%	4.04%
2 Jahre	2.25%	4.45%
3 Jahre	4.66%	4.80%
5 Jahre	3.20%	3.69%
10 Jahre	1.89%	2.41%
Seit Auflegung 01-06-2006	1.37%	1.97%

Statistiken	3 Jahre	5 Jahre
Ex-post Tracking-Error (%) 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.	2.42	2.61
Information-Ratio 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.	0.34	0.17
Sharpe-Ratio 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.	0.39	0.15
Alpha (%) 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..	0.27	0.46
Beta 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.	4.70	0.77
Standardabweichung 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).	2.49	2.72
Max. monatlicher Gewinn (%) The maximum (i.e. highest) absolute positive monthly performance in the underlying period.	2.33	2.33
Max. monatlicher Verlust (%) The maximum (i.e. highest) absolute negative monthly performance in the underlying period.	-1.04	-1.90

Kosten dieses Fonds	Prozentsatz
Laufende Gebühren 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.	0.91%
Inklusive Verwaltungsgebühr A fee paid by the fund to the asset management company for the professional management of the fund.	0.70%
Inklusive Servicegebühr This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.	0.16%
Transaktionskosten The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.	0.09%

Steuerliche Behandlung des Produkts

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.

Steuerliche Behandlung des Anlegers

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.

Richtlinien

Per 30-06-2026

Marktentwicklungen

Per 30-06-2026

Global government bond returns were positive in June. Yields rose in the first part of the month, but they declined when the US and Iran agreed on a memorandum of understanding and oil exports started to flow through the Strait of Hormuz. The US yield curve flattened, as 2-year yields rose 17 basis points, while the 30-year yield declined 2 bps. The German curve also flattened. US labor market data was strong in June. The Fed struck a hawkish tone in its first meeting under Chair Kevin Warsh. The ECB increased rates by 25 basis points. Preliminary June inflation numbers across the eurozone declined more than expected. Eurozone country spreads versus Germany widened modestly during the month, reflecting a combination of tighter financial conditions and lingering macro and political uncertainties across the region. German Bunds returned 0.6%, US Treasuries 0.2% and Japanese government bonds 0.1% (all returns hedged to EUR).

Erläuterungen zur Wertentwicklung

Per 30-06-2026

Based on transaction prices, the fund's return was -0.19%. The fund underperformed versus cash (the benchmark) in June. The fund started the month with short duration positions in the US, Germany and Japan. The short duration positioning initially contributed to the performance, like in April and May. However, it detracted when yields fell, later in the month, with lower oil prices. The short duration positions were closed (and the model even opened a long position in Japanese futures), but by then the short positions had largely given up their gains from the previous months. These active duration positions are based on the outcomes of our quantitative duration model. The duration positions that aim to exploit shorter-term market inefficiencies detracted from the performance this month.

Prognose des Fondsmanagements

Olaf Penninga
Lodewijk van der Linden
Johan Duyvesteyn

The fund's duration policy is driven by the outcomes of our proprietary quantitative duration model. At the end of June, the fund had neutral duration positions in the US and Germany and a long duration position in Japan. The model variables disagreed: while the inflation variable was clearly positive on bonds due to the decline in commodity prices, the economic growth variable was strongly negative for bonds as equity markets, economic surprises and the US nowcast all point to strong economic growth. The trend variable had improved, but the monetary policy and low-risk variables were not supportive for US and German bonds. The valuation variable was strongly positive for Japanese bonds, as the Japanese yield curve has become quite steep.

Robeco QI Long/Short Dynamic Duration DH USD

Systematic and active duration management within bonds and similar fixed income securities

Merkmale

Über diesen Fonds

Wichtige Fakten

Fondsmanagement

Wertentwicklung

Kursentwicklung

Statistiken

Gebühren

Steuerliche Behandlung des Produkts

Steuerliche Behandlung des Anlegers

Fondsallokation

Richtlinien

Marktentwicklungen

Erläuterungen zur Wertentwicklung

Prognose des Fondsmanagements

Fondsdokumente

Jahres- und Halbjahresberichte

Bekanntmachungen

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