Robeco Smart Materials I GBP

Scarce resources, abundant investment opportunities

Aandelenklassen Aandelenklassen 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.

Klasse en codes

Fondscategorie
Equities
ISIN
LU2145464850
Bloomberg
RSSMIGA LX

Fondscategorie

Equities

ISIN

LU2145464850

Bloomberg

RSSMIGA LX

Index

MSCI All Country World Index (Net Return, GBP)

Informatieverschaffing over duurzaamheid
Informatieverschaffing over duurzaamheid
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 )

Overzicht Rendement & kosten Portefeuille Duurzaamheid Commentaar Documenten

Kernpunten

Focus on advanced materials and smart manufacturing that help optimize the use of natural resources within scalable, clean and efficient solutions
Investing in structural winners along the entire materials value chain including efficient and innovative materials, improving manufacturing efficiency solutions and end-of-life valorization of materials
Strong tailwinds from decarbonization and net zero targets, government incentives for reshoring of manufacturing and sourcing, and the shift to more circular practices and sustainability

Over dit fonds

Robeco Smart Materials is an actively managed fund that invests into solutions to the resource scarcity challenge such as innovative materials and process technologies. 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 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.

Belangrijke feiten

Per 31-07-2026

Totale fondsgrootte	GBP 568,264,845
Grootte van de shareclass	GBP 42,111,723
Ingangsdatum shareclass	29-10-2020
1-jaars rendement	63.37%
Dividenduitkerend	Nee

Fondsmanager

Pieter Busscher CFA
Mutlu Gundogan CFA

Pieter Busscher is Portfolio Manager of the Robeco Smart Materials and Robeco Smart Mobility strategies and member of the Thematic Investing team. He started at Robeco in 2007 as a Deputy Portfolio Manager for the Sustainable Water strategy. Pieter became the Portfolio Manager for Smart Materials in 2009; for Smart Mobility he had been Deputy Portfolio for since strategy launch in 2018 and took over the portfolio management responsibilities in 2021. He began his career at Credit Suisse Asset Management in Zurich in 2006. He graduated from the International Business at RSM Erasmus University (Bachelor), the Banking and Finance at the University of St. Gallen (Master) and is a CFA® Charterholder. Mutlu Gundogan is Co-Portfolio manager of the Robeco Smart Materials strategy and member of the Thematic Investing team. Prior to joining in 2021, he worked at ABN AMRO – ODDO BHF as a sell-side equity analyst, covering the European Chemicals sector. Before that, he worked as a sell-side analyst at ABN AMRO and Royal Bank of Scotland covering the Materials, Industrials, and Health Care sectors. He started his career in 2003 at Kempen & Co., where he covered the Industrials, Consumer Staples, and Health Care sectors. Mutlu holds a Master’s in Business Administration from Vrije Universiteit Amsterdam. He is a CFA® Charterholder.

Per periode	Fonds	Index
1 maand	-18.14%	-0.83%
3 maanden	-7.91%	5.39%
YTD	33.12%	10.24%
1 jaar	63.37%	18.45%
2 jaar	24.40%	15.34%
3 jaar	14.04%	16.40%
5 jaar	7.30%	11.93%
10 jaar	11.34%	12.58%
Sinds oprichting 03-07-2015	11.88%	13.00%

Statistieken	3 jaar	5 jaar
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.	21.30	17.69
Informatieratio 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.	-0.06	-0.20
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.	0.38	0.19
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..	-7.27	-6.22
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	1.65
Standaarddeviatie 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).	27.80	24.93
Max. maandelijkse winst (%) The maximum (i.e. highest) absolute positive monthly performance in the underlying period.	21.96	21.96
Max. maandelijks verlies (%) The maximum (i.e. highest) absolute negative monthly performance in the underlying period.	-17.64	-17.64

Kosten van dit fonds	Percentage
Lopende kosten 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.	0.93%
Inbegrepen beheervergoeding A fee paid by the fund to the asset management company for the professional management of the fund.	0.80%
Inbegrepen serviceprovisie This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.	0.12%
Transactiekosten The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.	0.21%

Fiscale behandeling product

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.

Fiscale behandeling belegger

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.

Policies

Per 31-07-2026

Marktontwikkeling

Per 31-07-2026

Investors shifted focus from AI demand to AI returns, triggering a broad correction across the technology value chain. Concerns around hyperscaler capital spending, AI monetization, rising bond yields and increasing competition from Chinese AI models led to profit-taking across many of the market's strongest performers. Semiconductor stocks experienced their weakest month in years, momentum strategies sold off sharply and Asian technology markets came under particular pressure. Importantly, the correction was driven by a reassessment of expectations and positioning rather than a deterioration in fundamentals. Hyperscaler capex plans continue to increase, data center construction remains robust and demand for advanced semiconductors, optical connectivity, power infrastructure and related technologies remains healthy. Corporate earnings generally exceeded expectations, supporting the view that July represented a valuation and positioning reset rather than a change in the long-term investment case.

Toelichting rendement

Per 31-07-2026

Based on transaction prices, the fund's return was -18.14%. July was characterized by a sharp reversal in market leadership, with AI-related equities and semiconductor value chains experiencing significant weakness after an exceptionally strong first half of the year. Advanced Materials detracted, primarily due to weakness in Samsung Electro-Mechanics, Corning and several transition-metal holdings, while positive contributions from Umicore, ARE Holdings and CATL provided only partial support. Smart Manufacturing also declined, as investors reassessed valuations across semiconductor equipment, industrial technology and AI-related automation companies. The sell-off was driven more by valuation compression and profit-taking than by changes in underlying fundamentals.

Verwachting van de fondsmanager

Pieter Busscher CFA
Mutlu Gundogan CFA

While near-term volatility may persist, we remain constructive on the investment outlook. The recent correction has shifted the market debate from AI demand toward investment returns, resulting in a broad valuation reset across the sector. However, hyperscalers continue to expand data center infrastructure, semiconductor complexity continues to increase and demand for advanced packaging, optical connectivity, power management and critical materials remains robust. We therefore believe the long-term investment case for AI, electrification, industrial automation and resource efficiency remains intact and that the recent correction has created attractive opportunities in several high-conviction holdings.