Robeco Digital Innovations M2 EUR
Benefiting from strong structural growth trends on the production side of the economy
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.
M2-EUR
D-EUR
D-USD
F-EUR
F-USD
I-EUR
I-USD
M-USD
Class and codes
Asset class:
Equities
ISIN:
LU1857097957
Bloomberg:
ROGIM2E LX
Index
MSCI All Country World 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
Morningstar
Morningstar
Copyright © Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Download The Morningstar Rating for Funds (chapter: The Morningstar Rating: Three-, Five-, and 10-Year) on the Morningstar website.
Rating (28/02)
- Overview
- Performance & costs
- Portfolio
- Sustainability
- Commentary
- Documents
MISSING: fund.detail.tabs.
Key points
- Invests in a number of structural growth trends on the production side of the economy, e.g. Robotics and Automation, Digital Enablers, Secure Digital Infrastructure.
- Top-down trend selection and bottom-up stock selection using proprietary valuation models
- Risk limitation through diversification over multiple trends with different drivers and risk characteristics
About this fund
Robeco Digital Innovations 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 invests in a number of structural growth trends on the production side of the economy, such as robots and automation, digital enablers and secure digital infrastructure. The fund managers try to select stocks of the structural winners within these trends.
Key facts
Total size of fund
€ 65,199,458
Size of share class
€ 489,991
Inception date fund
02-08-2018
1-year performance
-7.47%
Dividend paying
No
Fund manager
Marco van Lent
Steef Bergakker
Marco van Lent is Lead Portfolio Manager Robeco MegaTrends/Rolinco, Portfolio Manager Robeco Digital Innovations and member of the Robeco Trends Equities 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 Robeco Trends Equities 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.
Performance
Per period
Per annum
- Per period
- Per annum
1 month
1.59%
-0.53%
3 months
0.40%
-2.91%
YTD
11.19%
4.76%
1 year
-7.47%
-2.84%
2 years
0.64%
6.40%
3 years
10.58%
10.09%
Since inception 08/2018
8.93%
8.34%
2022
-28.37%
-13.01%
2021
30.70%
27.54%
2020
20.51%
6.65%
2019
33.95%
28.93%
2020-2022
4.11%
5.77%
Statistics
Statistics
Hit-ratio
- Statistics
- Hit-ratio
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.
8.20
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.
0.43
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.
0.62
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..
1.83
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.
1.20
Standard deviation
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).
22.05
Max. monthly gain (%)
The maximum (i.e. highest) absolute positive monthly performance in the underlying period.
13.68
Max. monthly loss (%)
The maximum (i.e. highest) absolute negative monthly performance in the underlying period.
-12.22
Months out performance
Number of months in which the fund outperformed the benchmark in the underlying period.
22
Hit ratio (%)
This percentage indicates the number of months in which the fund outperformed in a given period.
61.1
Months Bull market
Number of months of positive benchmark performance in the underlying period.
22
Months outperformance Bull
Number of months in which the fund outperformed positive benchmark performance in the underlying period.
17
Hit ratio Bull (%)
This percentage indicates the number of months the fund outperformed a positive benchmark in an underlying period.
77.3
Months Bear market
Number of months of negative benchmark performance in the underlying period.
14
Months outperformance Bear
Number of months in which the fund outperformed negative benchmark performance in the underlying period.
5
Hit ratio Bear (%)
This percentage indicates the number of months the fund outperformed a negative benchmark performance in an underlying period.
35.7
Costs
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.
2.71%
Included management fee
A fee paid by the fund to the asset management company for the professional management of the fund.
2.50%
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.
0.04%
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.
Fund allocation
Asset
Currency
Sector
Top 10
- Asset
- Currency
- Sector
- Top 10
Policies
The fund can engage in currency hedging transactions. Typically currency hedging is not applied.
The fund does not distribute dividend. The fund retains any income that is earned, and so its entire performance is reflected in the price.
Robeco Digital Innovations 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 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, proxy voting and engagement. The fund invests in a number of structural growth trends on the production side of the economy, such as robots and automation, digital enablers and secure digital infrastructure. The fund managers try to select stocks of the structural winners within these trends.The majority of stocks selected will be components of the Benchmark, but stocks outside the Benchmark may be selected too. The investment policy is not constrained by a benchmark but the fund may use a benchmark for comparison purposes. The fund can deviate substantially from the issuer, country and sector weightings of the Benchmark. There are no restrictions on the deviation from the Benchmark. The Benchmark is a broad market weighted index that is not consistent with the ESG characteristics promoted by the fund.
Risk management is fully integrated into the investment process to ensure that positions always meet predefined guidelines.
Sustainability-related disclosures
Full sustainability-related disclosures
Download full reportSummary sustainability-related disclosures
Download summarySustainability profile
Sustainability
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.
Market development
Global equities continued their upward march at the beginning of February and the index gained another 2.5% in the first two weeks. Not even the Fed hiking rates by another 25 bps and the ECB by even 50 bps were able to derail the rally. But after a spate of hotter-than-expected US economic data, investors quickly started to re-price the yield curve, incorporating a delayed end to the tightening cycle with higher peak rates. As a result, the yield on 10-year Treasuries rose from roughly 3.5% at the start of the month to 3.92%, with the 2-year yield pushed to the highest level (4.83%) since 2007. The 10-year Bund yield shot up as well over the period, from 2.28% to 2.65%.
Performance explanation
Based on transaction prices, the fund's return was 1.59%. The fund strongly outperformed the reference index, with all three trends contributing positively. Secure Digital Infrastructure and Robotics & Automation were the best-performing trends in February. It was again mainly the cybersecurity names that did well. The Digital Enablers trend was flattish. The top three stocks for February were Palo Alto Networks, NVIDIA and Fortinet. The bottom three stocks were Keysight, American Tower and Emerson Electric.
Expectation of fund manager
Marco van Lent
Steef Bergakker
The business world is constantly looking for improvements in productivity, efficiency and flexibility. The combination and confluence of increasing connectivity, digitization of products and services and digitization of business processes is providing abundant opportunities to make tremendous progress in these respects across virtually every industry. It is this digital transformation of business enterprise that Robeco Digital Innovations is designed to capture. We continue to believe that the secular trends outlined above remain valid and, if anything, have been reinforced by the Covid pandemic. In addition to seeking productivity and efficiency gains, minimizing exposure to human vulnerabilities, such as a pandemic, has come to the forefront as a forceful argument to expedite the digital transformation of business. The long-run prospects are very bright, but the short-run outlook has turned uncertain, as a hawkish monetary policy to counter inflationary pressures may curtail economic growth or even cause a recession. We therefore proceed with caution in the near term, while remaining optimistic for the longer term.