Robeco Smart Energy I USD

Pole position in the clean energy race

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
Equities
ISIN
LU2145463027
Bloomberg
RSSEIUA LX

Anlagegattung

Equities

ISIN

LU2145463027

Bloomberg

RSSEIUA LX

Benchmark

MSCI All Country World Index (Net Return, USD)

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 9

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Rating

( 31-07 )

Überblick Wertentwicklung & Gebühren Vermögensaufstellung Nachhaltigkeit Kommentar Unterlagen

Merkmale

Investing in companies that enable the electrification and decarbonization of the energy value chain including renewable technologies, smart grids, energy storage and energy-efficiency solutions for the building, transportation, industrial and big data sectors
A multi-decade structural growth theme accelerating due to new tailwinds from high energy prices and new energy needs leading to unprecedented public and private investments
Strong alignment to the clean electrification theme with a diversification across technologies leading to a more efficient use of energy

Über diesen Fonds

Wichtige Fakten

Per 31-07-2026

Fondsvolumen	USD 5,576,194,486
Größe der Anteilsklasse	USD 48,961,236
Auflegungsdatum der Anteilsklasse	29-10-2020
1 Jahr Wertentwicklung	53.29%
Ertragsverwendung	Thesaurierend

Fondsmanagement

Roman Boner
Michael Studer PhD
Sanaa Hakim

Roman Boner is Portfolio Manager of the Robeco Smart Energy strategy and member of the Thematic Investing team. Before joining Robeco in 2021, Roman was a Senior Portfolio Manager at Woodman Asset Management. Prior to that, he spent six years at Swisscanto (later part of Zurich Kantonalbank) as a Senior Portfolio Manager responsible for a sustainable global equity fund and co-manager of the thematic Global Water and Climate Fund. Roman started his career in 1996 at UBS working in different divisions including Private Banking, Asset Management and Trading. In 2003, he became Portfolio Manager at UBS Global Asset Management and, from 2005 onwards, focused on sustainable thematic equities strategies including Energy Efficiency and Climate change accounts. Roman graduated from the University of Applied Sciences Zurich in Economic and Business Administration and is a CFA® Charterholder. Michael Studer is Co-Portfolio Manager of the Robeco Smart Energy strategy and member of the Thematic Investing team. Before joining Robeco in 2021, he spent three years at Acoro Asset Management, where he was an investment manager focused on the IT sector (semiconductors, software and internet). Prior to that, he worked as a Senior Equity Analyst covering IT at Julius Bär, Bank J. Safra Sarasin and as a sellside analyst at Bank am Bellevue with a total 10-year tenure. Michael started his career in 2007 as a consultant for Strategy & Operations in the Financial Services Industry at Deloitte. Michael holds a PhD in Accounting and Controlling and a Master in Information and Technology Management from the University of St Gallen (HSG), as well as a Master in International Management from the Community of European Management Schools (CEMS). He also studied at the Rensselaer Polytechnic Institute (RPI) in Troy, New York (USA). Sanaa Hakim is Co-Portfolio Manager of the Robeco Smart Energy strategy and member of the Thematic Investing team. She joined Robeco in 2021 and has 12 years of experience. Prior to joining the firm, Sanaa was a global equity investment professional at Independent Franchise Partners and a generalist analyst at Capital Group for 5 years in London. Sanaa started her career in 2011 with Ernst and Young in Assurance and Advisory in Paris. Sanaa holds an MBA from the University of Chicago Booth and a Msc in Risk and Asset Management from EDHEC Business School.

Pro Zeitraum	Fonds	Index
1 Monat	-14.59%	0.55%
3 Monate	-8.48%	4.37%
Lfd. Jahr	29.08%	10.29%
1 Jahr	53.29%	20.45%
2 Jahre	33.21%	18.06%
3 Jahre	20.82%	18.15%
5 Jahre	12.59%	11.20%
10 Jahre	18.28%	12.73%
Seit Auflegung 25-05-2007	8.69%	7.94%

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.	19.59	17.32
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.	0.18	0.13
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.	0.60	0.35
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..	-4.87	0.30
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.	1.84	1.54
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).	28.22	27.91
Max. monatlicher Gewinn (%) The maximum (i.e. highest) absolute positive monthly performance in the underlying period.	25.46	25.46
Max. monatlicher Verlust (%) The maximum (i.e. highest) absolute negative monthly performance in the underlying period.	-14.91	-14.91

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.	0.94%
Inklusive Verwaltungsgebühr A fee paid by the fund to the asset management company for the professional management of the fund.	0.80%
Inklusive Servicegebühr This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.	0.12%
Transaktionskosten The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.	0.20%

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 0.01% 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

Investors who are not subject to (exempt from) Dutch corporate-income tax (e.g. pension funds) are not taxed on the achieved result. Investors who are subject to Dutch corporate-income tax can be taxed for the result achieved on their investment in the fund. Dutch bodies that are subject to corporate-income tax are obligated to declare interest and dividend income, as well as capital gains in their tax return. Investors residing outside the Netherlands are subject to their respective national tax regime applying to foreign investment funds. We advise individual 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 31-07-2026

Robeco Smart Energy is an actively managed fund that invests globally in companies active in clean energy production, energy infrastructure and management, as well as solutions that improve energy efficiency for sectors such as industrials, buildings, transportation or data centers. The selection of these stocks is based on fundamental analysis. The fund has sustainable investment as its objective, within the meaning of Article 9 of the Regulation (EU) 2019/2088 of 27 November 2019 on Sustainability-related disclosures in the financial sector. The fund's objective is also to achieve a better return than the Benchmark. The strategy integrates sustainability criteria as part of the stock selection process and through a theme-specific sustainability assessment. The portfolio is built on the basis of an eligible investment universe that includes companies whose business models contribute to the thematic investment objectives. The assessment regarding relevant SDGs uses an internally developed framework, more information on which can be obtained at www.robeco.com/si. The fund has sustainable investment as its objective within the meaning of Article 9 of the European Sustainable Finance Disclosure Regulation. The fund furthers the decarbonization of the global energy sector through investments in clean energy sources, energy efficient products and infrastructure and by the electrification of the industrial, transportation and heating sectors. This is done by investing in companies that advance the following UN Sustainable Development Goals (UN SDGs): Affordable and Clean Energy goal, Decent work and economic growth, Industry, innovation and infrastructure, Sustainable cities and communities, and Climate action. The fund integrates ESG (Environmental, Social and Governance) factors 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,carbon reduction target and proxy voting.

Marktentwicklungen

Per 31-07-2026

Global equity markets experienced a sharp reversal in July, ending the month lower as a broad-based sell-off in semiconductor stocks erased much of the previous quarter's gains. While markets traded constructively through most of the month, supported by solid second-quarter earnings results and continued AI infrastructure spending, sentiment deteriorated rapidly in the final week. A confluence of concerns such as signs of China's progress in domestic chipmaking equipment, questions about the sustainability of record AI capital expenditures, fears of 'circular funding' dynamics among hyperscalers and rumors of margin calls at some leveraged funds betting on AI, triggered the worst weekly sell-off in semiconductor stocks this year. The sharp rotation benefited defensive sectors, with utilities, consumer staples, healthcare and small caps outperforming on a relative basis.

Erläuterungen zur Wertentwicklung

Per 31-07-2026

Based on transaction prices, the fund's return was -14.59%. Energy Distribution was the strongest-performing cluster in July, although still negative, as investors rotated into more defensive electrification segments, with Electric Networks outperforming and regulated utilities such as Hydro One and SSE remaining broadly resilient. Energy Efficiency underperformed, with wide dispersion across subclusters. Big Data was hit driving sharp drawdowns in year-to-date winners such as Marvell Technology, ARM Holdings and Zhongji Innolight, while Buildings was the best subcluster and contributed positively as Procore Technologies and Autodesk rebounded from June weakness. Energy Management was also weak, with Semiconductor Power Management the largest detractor as Infineon and Renesas gave back a meaningful share of prior gains. Renewable Energy was the weakest cluster. Solar remained under pressure as the sell-off accelerated amid its AI-proxy status, the broader macro risk-off move and US interest rates crossing 5%.

Prognose des Fondsmanagements

Roman Boner
Michael Studer PhD
Sanaa Hakim

Recent de-escalation in the Middle East and the sharp decline in oil prices have eased inflation concerns and strengthened our confidence in a broader economic recovery. With inflation continuing to moderate, we expect interest rates in the US to move lower over time, supporting economic activity and improving investor sentiment. This is particularly relevant for the construction sector, which has faced several years of headwinds from elevated financing costs. At the same time, the Global Manufacturing PMI continues to improve, pointing to strengthening growth momentum, supported by reshoring initiatives and accelerating investment in AI-driven data center infrastructure. Against this backdrop, the need for clean energy, grid investment and electrification remains stronger than ever as power demand continues to rise. While geopolitical and policy risks have not disappeared, we believe the fundamental outlook for our investment theme remains highly supportive.