Robeco Customized Liability Driven Fund VII

Customized fixed income solutions for strategic portfolios

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
Bonds
ISIN
LU1949716051
Bloomberg
ROCLVII LX

Asset class

Bonds

ISIN

LU1949716051

Bloomberg

ROCLVII LX

Index

Customized benchmark

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

Robeco has extensive experience in this type of overlay management and is a solid party with deep knowledge of the Dutch pension market. Robeco acts as sparring partner in the translation of Asset & Liability Matching studies towards a strategic investment portfolio.
Implementation of the chosen interest overlay strategy is done by state-of-the-art systems with a strong focus on operational and financial risk management.
Robeco offers liability matching tools in the form of stand-alone overlay management and in fund solutions.

About this fund

The fund has a defensive proposition by investing mainly in core Euro government bonds from countries such as Germany and the Netherlands.

Key facts

Per 31-10-2025

Total size of fund	EUR 15,927,347
Size of share class	EUR 15,927,347
Inception date share class	10-04-2019
1-year performance	-2.98%
Dividend paying	No

Fund manager

Remmert Koekkoek
Yvo Schoemaker

Remmert Koekkoek is Head of the Sustainable Multi Asset Solutions. In this role he focuses on the management of balance sheet solutions and buy and maintain portfolios for pension funds and insurance companies. He has worked at Robeco since 2011. Prior to joining Robeco, he was part of the insurance and pension solutions group of Credit Suisse in the period 2010-2011, where he was responsible for providing hedging and investment solutions to Dutch pension funds and insurance companies. Between 2005 and 2010 Remmert worked at Robeco's as structurer in the Structured Investment team. He started his career in the industry in 2004 at ING Risk Management. Remmert holds a Master's (cum laude) in Econometrics from Erasmus University Rotterdam. Yvo Schoemaker is Portfolio Manager Insurance & Pension Solutions in the Sustainable Multi Asset Solutions team. He manages and develops fully customized client driven solutions across asset classes tailored to specific financial and sustainable objectives. Solutions range from LDI/CDI, Fixed Maturity Products, Buy and Maintain to Multi Asset. In 2006 he moved to the Structured Investments department where he was responsible for trading linear and non-linear exposures on the balance sheet of Robeco and subsequently development of structured investments. Yvo started his career in 2005 at Robeco Quantitative Strategies. Yvo holds a Master’s in Computational Finance from Erasmus University Rotterdam.

Per period	Fund	Reference index
1 month	1.28%	-
3 months	0.73%	-
YTD	-3.85%	-
1 year	-2.98%	-
2 years	4.56%	-
3 years	0.24%	-
5 years	-9.11%	-
Since inception 01-05-2019	-4.60%	-

Statistics	3 years	5 Years
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.	0.42	0.41
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.	0.91	0.50
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.	-0.21	-0.76
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..	0.35	0.12
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
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).	12.86	14.12
Max. monthly gain (%) The maximum (i.e. highest) absolute positive monthly performance in the underlying period.	7.61	10.31
Max. monthly loss (%) The maximum (i.e. highest) absolute negative monthly performance in the underlying period.	-9.66	-10.34

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.	0.11%
Included management fee A fee paid by the fund to the asset management company for the professional management of the fund.	0.10%
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 0,00% 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

Professional investors are divided into pension funds and non-pension funds. Dutch pension funds may re-claim the 25% dividend tax deducted on cash dividends entirely. Dutch non-pension funds may deduct the 25% dividend tax deducted on cash dividends in their corporate income tax assessment. Dividend tax in that case is tax deducted at source. No tax is deducted at source on interest income. Thus, Dutch pension funds do not owe taxes on interest income. Dutch non-pension funds should specify interest income in their corporate income tax assessment.

Market development

Per 31-10-2025

Government bond returns were positive in October, with US Treasuries up 0.5% and German Bunds gaining 0.7%. Bonds benefited from a small period of risk-off sentiment, related to US-China trade tensions and from stable US inflation data. While the Fed cut rates by 25 bps on 29 October, the FOMC meeting was still seen as hawkish. In the press conference Fed chair Powell pushed back on rate cutting expectations for their 10 December meeting. The ECB decided to keep rates on hold on 30 October and the meeting had little impact on yields. French OATs managed to keep pace with German Bunds, despite the political unrest and rating downgrade to A+ by S&P.

Performance explanation

Per 31-10-2025

Based on closing GAV, the fund's return was 1.28%. The fund posted a positive return for the month. All performance drivers added to performance this year; duration and yield curve positioning, country and non-government allocation.

Expectation of fund manager

Remmert Koekkoek
Yvo Schoemaker

As the US government shutdown continues, the lack of fresh data makes it more difficult for the Fed to decide on rates. Ultimately, we think the Fed is willing to cut rates to approximately 3.25%, which can be seen as the lower end of the 3-4% neutral range. This should support US Treasuries in the front and belly of the curve. The ECB looks firmly on hold, which will probably reduce volatility in euro rates. Still, the steepening of the euro yield curve is expected to continue, on the prospect of increased supply and less pension fund demand for long-end duration. French political and fiscal developments remain a risk for OATs, but the overall spread climate in euro government bonds remains supported by improving fundamentals and upgrades in credit ratings.

Robeco Customized Liability Driven Fund VII

Customized fixed income solutions for strategic portfolios

Key points

About this fund

Key facts

Fund manager

Performance

Statistics

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

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