Robeco Emerging Markets ex China Equities F EUR

Capturing a more balanced EM opportunity set, through 30 years of EM investing experience.

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
Equities
ISIN
LU2701588548
Bloomberg
ROBMARE LX

Clase de activos

Equities

ISIN

LU2701588548

Bloomberg

ROBMARE LX

Índice

MSCI Emerging Markets Ex China 10/40 Index (Net Return, EUR)

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

Visión general Rentabilidad & costes Cartera de valores Sostenibilidad Comentario Documentos

Puntos clave

Invests in non-China emerging markets such as Korea, Taiwan, Poland and Brazil
Actively managed EM portfolio with a value tilt, embedded sustainability, and long investment horizon.
Selects attractively valued companies with mispriced earning upside combined with country analysis.

Acerca de este fondo

Robeco Emerging Markets ex China Equities is an actively managed fund that invests in stocks in emerging countries across the world with the exception of China. The selection of these stocks is based on fundamental analysis. The fund's objective is to achieve a better return than the index. The fund selects investments based on top-down country analysis and bottom-up stock ideas. The focus is on companies with a sound business model, solid growth prospects and reasonable valuation.

Hechos clave

A 30-06-2026

Tamaño del fondo	EUR 9,056,303
Tamaño de la clase de acción	EUR 2,921,871
Fecha de creación de la clase de acciones	30-11-2023
Rendimiento de 1 año	70.44%
Pago de dividendos	No

Gestor del fondo

Rob Schellekens
Wim-Hein Pals
Sejung Seo
Cornelis Vlooswijk

Rob Schellekens is Lead Portfolio Manager of the Emerging Markets ex-China fund. On the research side he provides coverage of Russia, South America ex-Brazil and the Middle East. Prior to joining Robeco in 2005, Rob was an Analyst at Integra in Peru and at RBC Global Investment Management in Canada where he started his career in the industry in 2004. He holds a Bachelor's Honors in Economics from the Queen's University in Canada. Wim-Hein Pals is Head of the Robeco Emerging Markets Equity team and Lead Portfolio Manager of the Global Emerging Markets Core strategy. As for country analysis, he covers Indonesia and Malaysia. Previously, he was Portfolio Manager Emerging European and African equities and Portfolio Manager Emerging Asian equities. Wim-Hein started his career in the investment industry at Robeco in 1990. He holds a Master's in Industrial Engineering and Management Sciences from Eindhoven University of Technology and a Master's in Business Economics from Tilburg University. Sejung Seo is Portfolio Manager EM ex-China with a research focus on the Technology sector. Prior to joining Robeco in 2020, he was a Research Analyst at Candriam in Brussels, covering emerging markets technology stocks. Sejung started his career in 2007 at Mirae Asset Management in Seoul. He holds a Master’s in Finance from London Business School and he is a CFA® charterholder. Sejung is also a native Korean speaker. Cornelis Vlooswijk is Lead Portfolio Manager and Research Analyst African Equities. Previously, he worked for Robeco as an investment strategist focusing on North America and Emerging Markets since 2005. Before joining Robeco in 2005, he worked for Credit Suisse First Boston as an Investment Banking Analyst, focusing on the transport and logistics sector. He started his career in the financial industry in 1998. Cornelis holds a Master’s in Economics from Erasmus University Rotterdam and is a CFA® charterholder.

Por periodo	Fondo	Index
1 mes	0.52%	1.91%
3 meses	32.21%	34.75%
YTD	43.60%	40.63%
1 año	70.44%	63.57%
2 años	32.09%	27.51%
Desde inicio 01-12-2023	31.50%	28.30%

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.	1.00%
Comisión de gestión incluida A fee paid by the fund to the asset management company for the professional management of the fund.	0.75%
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.	0.20%
Gastos transaccionales The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.	0.11%

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 0.05% 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.

Tratamiento fiscal del inversor

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.

Evolución del mercado

A 30-06-2026

The MSCI EM ex China Index gained 1.91% in euro terms in June, outperforming the broader MSCI EM Index (+0.63%) and the MSCI World Index (-0.72%). EM equities navigated a challenging June, balancing geopolitical developments, shifting monetary policy expectations, and country-specific dynamics. Swings were pronounced in South Korea, where leveraged ETF positions drove larger-than-usual moves. Geopolitical tensions eased after a temporary US-Iran agreement extended the ceasefire and reopened Strait of Hormuz shipping traffic, though a permanent deal remains elusive. Crude oil fell a fifth as supply-disruption fears receded. The Fed, under new Chair Kevin Warsh, struck a firmer tone than markets expected at its June meeting. Equity markets that did well in June were Colombia, the Philippines, Hungary, Peru, and the UAE; laggards were China, Indonesia, South Africa, and Poland.

Explicación del rendimiento

A 30-06-2026

Based on transaction prices, the fund's return was 0.52%. The fund slightly underperformed versus the benchmark (MSCI EM ex China) in June. Country allocation was negative while stock selection was positive. From a country perspective, our underweights in India and Saudi Arabia as well as our overweights in South Korea and South Africa detracted from performance. At the stock level, positive contributions came from our overweight in SK Square, the South Korean holding company with significant exposure to SK hynix's memory chip business, and our underweight in Taiwan's Delta Electronics. Indian private sector banks ICICI Bank and HDFC Bank also added value, alongside Taiwanese semiconductor names Realtek Semiconductor and ASE Technology Holding, the world's largest chip packaging provider. On the negative side, South Korean names weighed on returns, with HD Hyundai, Hyundai Mobis and Hyundai Motor all detracting. In Taiwan, not owning passive components leader Yageo Corporation proved costly as the stock rallied, while our overweight in AI server maker Wiwynn Corporation also hurt relative performance.

Expectativas del gestor del fondo

Rob Schellekens
Wim-Hein Pals
Sejung Seo
Cornelis Vlooswijk

The war in the Middle East is a significant shock with a big impact on the region and on global oil and gas prices. Even though the most likely scenario is that the war will be relatively short, risks do remain for a longer conflict and larger impact. Also economically, the US has become a source of more uncertainty on interest rate policy, import tariffs and policy making. Emerging markets are having to rely more on their own domestic policies and growth opportunities. We still expect higher structural economic growth compared to developed markets, while macroeconomic stability has significantly improved. Emerging equity markets' valuations have become attractive relative to developed markets, with discounts of around 35% based on earnings multiples. Expected earnings growth is 46% for 2026 and 17% for 2027, both above developed markets.

Robeco Emerging Markets ex China Equities F EUR

Capturing a more balanced EM opportunity set, through 30 years of EM investing experience.

Puntos clave

Acerca de este fondo

Hechos clave

Gestor del fondo

Rentabilidad

Evolución del precio

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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