Robeco Euro Credit Bonds F EUR

Unconstrained approach across different segments of the European corporate bond market

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
LU0971564843
Bloomberg
ROECRFH LX

Anlagegattung

Bonds

ISIN

LU0971564843

Bloomberg

ROECRFH LX

Benchmark

Bloomberg Euro Corporates 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

Pure play on Euro investment grade credits
Contrarian and value-driven investment style
Experienced and stable investment team

Über diesen Fonds

Robeco Euro Credit Bonds is an actively managed fund providing diversified exposure to Euro investment grade credits. The fund can invest to a limited extent outside the Benchmark in high yield-rated debt, securitized debt and non-Euro denominated bonds. All risks from exchange rate fluctuations are hedged. The selection of these bonds is based on fundamental analysis. Performance drivers are the top-down beta positioning as well as bottom-up issuer selection. The fund's objective is to provide long-term capital growth.

Wichtige Fakten

Per 30-06-2026

Fondsvolumen	EUR 1,025,173,338
Größe der Anteilsklasse	EUR 8,878,495
Auflegungsdatum der Anteilsklasse	17-09-2013
1 Jahr Wertentwicklung	2.30%
Ertragsverwendung	Thesaurierend

Fondsmanagement

Jan Willem de Moor
Jan Willem Knoll
Remy Broekmans

Jan Willem de Moor is a portfolio manager investment grade with a focus on European and financial bonds in the Credit Team. Working together with the Insurance and Pensions Solutions team, he is also responsible for the management of buy & maintain portfolios. Prior to joining Robeco in 2005, he worked at the Dutch Medical Professionals’ pension fund as an equity portfolio manager and at SNS Asset Management as an equity portfolio manager. Jan Willem has been active in the industry since 1994. He holds a Master's in Economics from Tilburg University. Jan Willem Knoll is a portfolio manager investment grade in the Credit team. He joined the Credit team in 2016 as an analyst for the financials sector. Previously, Jan Willem headed the Financials Equity Sell-side Research team at ABN AMRO. He started his career in the industry in 1999 at APG, where he held several positions including portfolio manager of global insurance portfolio pan-European financials portfolios. Jan Willem holds a Master’s in Business Economics from the University of Groningen and he is a CFA® Charterholder. Remy Broekmans is a portfolio manager investment grade in the Credit team. Previously, he was a credit portfolio manager at Mint Tower Capital responsible for capital structures and credit products. Prior to his tenure at Mint, Remy worked as a credit trader at ABN AMRO. He started his career in the industry as an intern at Robeco in 2016. He holds a Master's in Quantitative Finance from the Erasmus University Rotterdam and is a CFA® charterholder.

Pro Zeitraum	Fonds	Index
1 Monat	0.40%	0.44%
3 Monate	2.22%	2.34%
Lfd. Jahr	1.15%	1.33%
1 Jahr	2.30%	2.55%
2 Jahre	3.88%	4.29%
3 Jahre	4.84%	5.00%
5 Jahre	0.31%	0.31%
10 Jahre	1.32%	1.18%
Seit Auflegung 01-04-2005	2.23%	2.79%

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.	0.23	0.45
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.	1.90	1.25
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.	0.80	-0.20
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..	0.43	0.54
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.	0.99	0.99
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).	3.26	5.33
Max. monatlicher Gewinn (%) The maximum (i.e. highest) absolute positive monthly performance in the underlying period.	2.79	4.30
Max. monatlicher Verlust (%) The maximum (i.e. highest) absolute negative monthly performance in the underlying period.	-2.22	-4.06

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.	0.57%
Inklusive Verwaltungsgebühr A fee paid by the fund to the asset management company for the professional management of the fund.	0.35%
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.	0.08%

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.

Marktentwicklungen

Per 30-06-2026

June 2026 proved (another) landmark month for European credit markets, with record levels of new bond issuance coming to the market. Year-to-date euro IG corporate bond issuance reached EUR 269 billion through the end of June, up 17.5% year-on-year. Sentiment in European IG credit improved markedly through the month. Investors unwound a USD 20 billion net short on the iTraxx Europe IG CDS index – built up as a geopolitical hedge – moving to an outright long position as prospects for a Middle East ceasefire improved. European credit spreads largely shrugged off a late-month sell-off in global technology equities. That said, spreads in the cash market were a bit weaker than in CDS markets, as cash spreads widened a bit in the second half of the month. The June FOMC meeting, the first under Fed Chair Kevin Warsh, struck a hawkish tone, as the statement was significantly shortened and forward guidance was removed. Moreover, Chair Warsh reiterated the committee's commitment to its price stability mandate multiple times during the press conference. In Europe, the ECB increased its deposit facility rate by 25 basis points to 2.25%, in line with market expectations.

Erläuterungen zur Wertentwicklung

Per 30-06-2026

Based on transaction prices, the fund's return was 0.40%. The portfolio posted a positive return in June, mostly driven by declining underlying government bond yields. Credit spreads tightened during the first weeks of the month, but widened in the last two weeks. The average index spread ended the month at 80 basis points, from 79 bps at the end of May. The spread performance of the corporate bond market was 0.06%, while the total return of the index was 0.44%. The portfolio performance was slightly better than that of the index. The beta positioning of the portfolio was just a little bit above neutral (1), meaning that there was a very small positive impact from the tightening of credit spreads. Issuer selection made a neutral contribution. Selection within and allocation to the banking and insurance sectors contributed positively to performance in June. The best-performing individual positions, on a risk-adjusted basis, were EPH Financing, Morocco and Carnival. Detractors from performance were MTR (new issue that widened after issuance), Oracle and Volkswagen.

Prognose des Fondsmanagements

Jan Willem de Moor
Jan Willem Knoll
Remy Broekmans

Our base case remains an orderly, grinding widening in spreads as the market recalibrates to a less generous technical regime, rather than anything more dramatic. But starting valuations leave the asymmetry unattractive enough that we continue to run conservative beta across portfolios, and would rather be early reducing risk than late. This puts us at odds with more bullish calls for further tightening. We agree the near-term path of least resistance may be tighter, but being right about direction and wrong about asymmetry is an expensive combination in a limited-upside, large-downside asset class. We remain constructive on banking sector credit, where capital and asset quality metrics remain strong. Within non-financials, we are cautious and increasingly selective on technology and AI-adjacent credit. The strongest hyperscaler names offer some premium to current ratings; we would rather express conviction through those strongest balance sheets – while avoiding the weaker, more leveraged data-center and software adjacent names where the downside is asymmetric. We prefer defensively positioned sectors with durable demand and pricing power over cyclically exposed industrials.

Robeco Euro Credit Bonds F EUR

Unconstrained approach across different segments of the European corporate bond market

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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