Robeco Global Green Bonds DH EUR

Targeted impact investing that benefits the environment

Classe di azioni Classe di azioni 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.

Classe e codici

Asset class
Bonds
ISIN
LU2138604702
Bloomberg
ROGGBDE LX

Asset class

Bonds

ISIN

LU2138604702

Bloomberg

ROGGBDE LX

Benchmark

Bloomberg MSCI Global Green Bond Index (hedged into EUR)

Informativa sulla sostenibilità
Informativa sulla sostenibilità
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.

Articolo 9

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

( 30-06 )

Panoramica Performance & costi Portafoglio Sostenibilità Commento Documenti

Punti chiave

Uses a proprietary green bonds framework to determine eligibility of green bonds for the fund
Provides a diversified exposure to the global green bonds market
Impact investing, using a disciplined and repeatable investment process and an experienced portfolio management team

Caratteristiche del fondo

Robeco Global Green Bonds is an actively managed fund that invests in green bonds issued by governments, government-related agencies and corporates. The selection of these bonds is based on fundamental analysis. The fund's objective is to provide long term capital growth.The fund invests at least two-thirds of its total assets in global green bonds with a minimal rating of "BBB-" or equivalent by at least one of the recognized rating agencies. Green bonds selection is based on external vendor data or the internally developed framework, about which more information can be obtained via the website www.robeco.com/si.

Aspetti principali

Al 30-06-2026

Dimensione del fondo	EUR 124,266,704
Dimensione della classe di azioni	EUR 143,190
Data di inizio della classe di azioni	21-04-2020
Performance 1 anno	0.96%
Pagamento del dividendo	Accumulazione

Gestore

Michiel de Bruin
Stephan van IJzendoorn
Joost Breeuwsma
Michael Booth

Michiel de Bruin is Head of Global Macro and a portfolio manager. Prior to joining Robeco in 2018, Michiel was Head of Global Rates and Money Markets at BMO Global Asset Management in London. He held various other positions before that, including Head of Euro Government Bonds. Before he joined BMO in 2003, he was, among others, Head of Fixed Income Trading at Deutsche Bank in Amsterdam. Michiel started his career in the industry in 1986. He holds a post graduate diploma in investment analyses from the VU University in Amsterdam and is a Certified EFFAS Analyst (CEFA) Charterholder. He holds a Bachelor’s in Applied Sciences from University of Applied Sciences in Amsterdam. Stephan van IJzendoorn is a portfolio manager and member of the Global Macro team. Prior to joining Robeco in 2013, Stephan was employed by F&C Investments as a Portfolio Manager Fixed Income and worked in similar functions at Allianz Global Investors and A&O Services prior to that. Stephan started his career in the Investment Industry in 2003. He holds a Bachelor’s in Financial Management, a Master's in Investment Management from VU University Amsterdam and is Certified European Financial Analyst (CEFA) Charterholder. Joost Breeuwsma is a portfolio manager investment grade in the Credit team. He has a focus on global investment grade portfolios and global green bond portfolios. Prior to starting his career and joining Robeco in 2017 as a credit analyst, he obtained a Master’s with Distinction in Financial Mathematics from King’s College London. Joost is CFA® Charterholder. Michael Booth is a portfolio manager investment grade in the Credit team and has a focus on global investment grade portfolios. Previously, he was a portfolio manager at Invesco. Prior to Invesco, Michael worked as an analyst at Nomura Asset Management and NatWest. He started his career in 2007 at Baker Tilly LLP (now RSM UK) as a chartered accountant. He holds a Bachelor’s degree in Business Management from the University of Nottingham.

Per periodo	Fondo	Index
1 mese	0.25%	0.41%
3 mesi	1.67%	1.95%
Ytd	0.28%	1.17%
1 anno	0.96%	1.88%
2 anni	3.10%	3.24%
3 anni	3.10%	3.43%
5 anni	-2.29%	-1.90%
Dal lancio 21-04-2020	-1.55%	-1.12%

Statistiche	3 anni	5 anni
Tracking error a posteriori (%) 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.	0.95	1.00
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.	0.64	0.50
Indice di Sharpe 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.	0.24	-0.49
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..	0.55	0.66
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.	1.10	1.04
Scostamento standard 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).	4.96	6.82
Utile mensile max. (%) The maximum (i.e. highest) absolute positive monthly performance in the underlying period.	4.01	4.48
Perdita mensile max. (%) The maximum (i.e. highest) absolute negative monthly performance in the underlying period.	-3.03	-4.82

Costi del fondo	Percentuale
Spese correnti 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%
Commissione di gestione incluse A fee paid by the fund to the asset management company for the professional management of the fund.	0.70%
Commissione di servizio incluso This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.	0.16%
Costi di transazione The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.	0.07%

Trattamento fiscale del prodotto

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.

Trattamento fiscale dell'investitore

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.

Sviluppo del mercato

Al 30-06-2026

Bond yields generally declined somewhat as Middle East tensions eased. Nonetheless curves did flatten as short-dated bonds remained under relative pressure amid a more hawkish central bank narrative. Oil prices, however, trended lower as, following the memorandum of understanding between the US and Iran, oil exports gradually resumed through the Strait of Hormuz. The June FOMC meeting, the first chaired by Kevin Warsh, delivered a notably hawkish message, leading investors to increase expectations for at least one Fed rate hike in 2026. The ECB raised its deposit facility rate by 25 basis points to 2.25%, in line with expectations, underscoring its continued focus on inflation control. Corporate credit markets were broadly stable, with spreads marginally wider in the US and little changing in Europe. Excess returns were slightly negative in US credit and slightly positive in euro credit, consistent with a market that increasingly treats credit as a carry product at these spread levels.

Spiegazione della performance

Al 30-06-2026

Based on transaction prices, the fund's return was 0.25%. The fund generated a modest positive return in July as bond markets benefited from a decline in oil prices, which alleviated inflation concerns. Relative performance was slightly below the benchmark (gross of fees). Duration positioning was a modest headwind, while curve positioning and SSA exposure had a neutral impact. In terms of corporate credit risk, the performance contribution was positive. Betas that were above neutral costed us some performance, which was offset by our issuer selection. Specific credit names that added to the portfolio were: SENSK, RWE hybrids, EPEN and ENAPHO.

Aspettative del gestore

Michiel de Bruin
Stephan van IJzendoorn
Joost Breeuwsma
Michael Booth

Entering H2, robust fundamentals collide with a more hawkish policy backdrop. Growth has held up better than feared, but the Iran war's energy shock pushed US inflation back above 4% and prompted the Fed's new leadership to drop its easing bias entirely. The ECB and Bank of Japan both hiked in June – a rare case of central banks tightening into a slowdown. The US-Iran memorandum has calmed markets, but the truce looks fragile. Spreads have ground back to multi-year tights, with global IG spread as a share of all-in yield near its lowest since before the financial crisis. We view this as thin compensation for risk rather than genuine resilience. Dispersion is building beneath the surface: hyperscaler-linked issuance keeps growing, while BDCs and private-credit-adjacent names show falling NAVs and ratings pressure despite tighter spreads. We keep portfolio beta conservative rather than chasing further tightening. We remain constructive on senior bank paper, selective within AI-adjacent credit via the strongest hyperscaler balance sheets, cautious on BDCs and private-equity-backed insurers, and we favor euro over dollar credit and shorter-dated paper over the long end.

Robeco Global Green Bonds DH EUR