Robeco Transition Emerging Credits IH CHF

Finding alpha in opportunities that support the sustainable transition in Emerging Markets

Clase de acción Clase de acción 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.

Clase y códigos

Clase de activos
Bonds
ISIN
LU2539431903
Bloomberg
REMCIHC LX

Clase de activos

Bonds

ISIN

LU2539431903

Bloomberg

REMCIHC LX

Índice

JPM Corporate EMBI Broad Diversified Index (hedged into CHF)

Información sobre sostenibilidad
Información sobre sostenibilidad
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.

Artículo 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

( 30-06 )

Visión general Rentabilidad & costes Cartera de valores Sostenibilidad Comentario Documentos

Puntos clave

Contrarian and unconstrained investing in entities that are leading or enabling the sustainability transition in Emerging Markets
Leveraging on Robeco proprietary sustainability research and IP with a strong track record in Emerging Markets fixed income
Enables investors to tap into the potential growth of the transition from both financial and sustainability perspectives

Acerca de este fondo

Robeco Transition Emerging Credits is an actively managed sub-fund that invests in bonds (which may include contingent convertible bonds (also "coco" bonds)), asset backed securities and similar fixed income securities issued by entities incorporated or exercising a preponderant part of their economic activities in Emerging Countries. The selection of these bonds is based on fundamental analysis. The fund has the flexibility to invest in value opportunities beyond the index universe, which means that the fund comprises both local currency and hard currency debt. The fund aims to make investments in assets with a sustainable objective as well as investments in assets that contribute to a transition. Transition pertains to activities that measurably and credibly contribute to the goals of the Paris Agreement and/or an environmental and/or social objective. This is achieved by investing in entities that have credible emission reduction targets, entities that provide solutions to enable climate change mitigation and bonds to finance sustainability transformation or refinance, in part or in full, new and/or existing projects with an environmental and/or social objective. The fund's objective is to provide long-term capital growth.

Hechos clave

A 30-06-2026

Tamaño del fondo	CHF 209,346,095
Tamaño de la clase de acción	CHF 21,968,628
Fecha de creación de la clase de acciones	18-10-2022
Rendimiento de 1 año	0.87%
Pago de dividendos	No

Gestor del fondo

Thu Ha Chow
Frank Reynaerts
Evert Giesen

Based in Singapore, Thu Ha Chow is Head of Fixed Income Asia and a portfolio manager emerging and Asian credits in the Credit team. Prior to joining Robeco in 2022, she was a portfolio manager and Asia strategist at Loomis Sayles & Co and Head of Asian Credit at Aberdeen Asset Management, both in Singapore. Previously Thu Ha worked for 15 years in London where she held senior fixed income positions at Deutsche Asset Management and Threadneedle Asset Management in addition to 3 years in investment banking at Credit Suisse First Boston. She started her career in 1998 after obtaining a Master’s in Economics and Philosophy from London School of Economics. Frank Reynaerts is a portfolio manager emerging and Asian Credits. Frank joined Robeco in 2011 as a portfolio manager emerging debt. Prior to that, he was a portfolio manager investment grade credits at Syntrus Achmea, a portfolio manager emerging debt at Lombard Odier and portfolio manager fixed income at Fortis. Frank started his career in 1997 at ASLK Bank as a risk analyst. He holds a Master’s in Commercial and Financial Sciences from EHSAL Business School of Brussels and he is a CFA® Charterholder. Evert Giesen is a portfolio manager investment grade, emerging and Asian credits in the Credit team. Previously, he was an analyst, responsible for covering the automotive sector within the Credit team. Prior to joining Robeco in 2001, Evert worked at AEGON Asset Management for four years as a fixed income portfolio manager. He has been active in the industry since 1997 and holds a Master's in Econometrics from Tilburg University.

Por periodo	Fondo	Index
1 mes	0.02%	0.09%
3 meses	1.26%	1.39%
YTD	-0.71%	0.07%
1 año	0.87%	2.21%
2 años	1.99%	2.75%
3 años	2.28%	3.45%
Desde inicio 18-10-2022	3.65%	4.54%

Estadísticas	3 años	5 años
Error de seguimiento 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.	0.48	-
Ratio de información 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.	-0.58	-
Ratio de 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.	0.65	-
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..	-0.30	-
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.	1.01	-
Desviación estándar 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).	3.83	-
Máx. ganancia mensual (%) The maximum (i.e. highest) absolute positive monthly performance in the underlying period.	3.26	-
Máx. pérdida mensual (%) The maximum (i.e. highest) absolute negative monthly performance in the underlying period.	-2.33	-

Coste de este fondo	Porcentaje
Gastos corrientes 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.	0.74%
Comisión de gestión incluida A fee paid by the fund to the asset management company for the professional management of the fund.	0.60%
Comisión de servicio incluida This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.	0.12%
Gastos transaccionales The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.	0.04%

Tratamiento fiscal del producto

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.

Tratamiento fiscal del inversor

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.

Fondo

Índice

Políticas

A 30-06-2026

Evolución del mercado

A 30-06-2026

The dominant macro theme was a hawkish shift by the Federal Reserve under new Chairman Kevin Warsh. The June FOMC meeting left rates unchanged, but the dot plot showed nine officials expected at least one rate increase in 2026, materially repricing the risk-free backdrop for emerging market credit. Geopolitical risks also weighed on sentiment, with the Iran conflict remaining a key concern and emerging market currencies weakening on reports of stalled US-Iran talks. In rates, Turkey's central bank kept policy unchanged at 37% against a cooling domestic economy, while Indonesia delivered a surprise 25 basis point emergency hike to 5.5% to stabilize the rupiah and stem foreign outflows. Corporate activity remained active in hard-currency markets. HDFC Bank priced a USD 750 million five-year dollar bond at its tightest-ever spread of T+90 basis points, while the Philippines raised USD 2.5 billion through a three-part transaction. Brazil's Braskem restructuring faced further complications, even as distressed emerging market funds recorded strong inflows.

Explicación del rendimiento

A 30-06-2026

Based on transaction prices, the fund's return was 0.02%. This month's performance was broadly flat. Underweights in Argentina and Colombia detracted, while the underweight in Saudi Arabia contributed positively and the overweight in the UAE detracted. At the security level, underweights in Aragvi Finance, Komos, and Aramco added value, while the underweight in Ecopetrol and overweight in MTR detracted.

Expectativas del gestor del fondo

Thu Ha Chow
Frank Reynaerts
Evert Giesen

We expect EM corporate credit returns to remain primarily carry-driven, but with a wider range of outcomes as markets balance concerns over persistent US inflation against lower oil prices, helped by the US-Iran MOU and the recent decline in energy prices. Warsh has set a hawkish tone and, with the dot plot showing nine officials penciling in at least one hike in 2026, Fed policy uncertainty is likely to keep markets cautious. There is also a risk that AI-related funding could crowd out other sectors, particularly as issuance is expected to pick up after the summer break. These factors could pressure returns from both the rate and spread sides, with higher-beta issuers in Indonesia, Turkey and frontier markets most exposed. Spreads are therefore likely to remain range-bound, with a bias toward episodic widening rather than sustained tightening. Fundamentals remain solid, supported by moderate leverage, stable cash flows and contained defaults. We continue to favor BBB–BB credit over lower-rated high yield, prefer financials, and remain cautious on cyclicals exposed to growth, energy costs or margin pressure.

Robeco Transition Emerging Credits IH CHF

Finding alpha in opportunities that support the sustainable transition in Emerging Markets

Puntos clave

Acerca de este fondo

Hechos clave

Gestor del fondo

Rentabilidad

Evolución del precio

Estadísticas

Coste

Tratamiento fiscal del producto

Tratamiento fiscal del inversor

Asignación del fondo

Políticas

Evolución del mercado

Explicación del rendimiento

Expectativas del gestor del fondo

Documentos del fondo

Informes anuales y semestrales

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