Robeco High Income Allocation E EUR

Global multi-asset solution with a focus on attractive and stable sources of income

Share classes Share classes 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.

Class and codes

Asset class
Multi-Asset
ISIN
LU2730331225
Bloomberg
ROBSIEE LX

Asset class

Multi-Asset

ISIN

LU2730331225

Bloomberg

ROBSIEE LX

Index

Custom Benchmark

Sustainability-related information
Sustainability-related information
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.

Article 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

( 31-08 )

Overview Performance & costs Portfolio Sustainability Commentary Documents

Key points

Worldwide investments in multiple asset classes
Focus on investments with attractive and stable sources of income
Flexibility to seek the best risk-return opportunities

About this fund

Robeco High Income Allocation is an actively managed fund that invests in a mix of asset classes across the world. The fund's objective is to achieve long term capital growth whilst maintaining a consistent level of income. The fund has a relatively low risk profile and uses asset allocation strategies mainly investing directly in bonds and taking exposure to other asset classes such as equities. The asset allocation strategy is subject to investments and volatility restrictions. The portfolio management team can also use other investment instruments to enhance the riskreturn profile of the fund.The benchmark of this fund is: 25% Bloomberg Global Aggregate Corporate Bond Index + 25% MSCI World+ 25% Bloomberg US Corporate High Yield & Pan Euro HY ex Financials 2.5% Issuer Cap + 25% J.P. Morgan GBI-EM Global Diversified

Key facts

Per 31-08-2026

Total size of fund	EUR 115,315,224
Size of share class	EUR 2,761,052
Inception date share class	15-03-2024
1-year performance	5.27%
Dividend paying	Yes

Fund manager

Ernesto Sanichar
Mathieu van Roon
Colin Graham

Ernesto Sanichar is a portfolio manager with a focus on multi asset & equity solutions and member of the Investment Solutions team. His asset specialties are fixed income and FX. He has been part of Robeco's Investment Solutions department since 2005. Previously, he was Treasury Manager for four years. Prior to joining Robeco in 2001, Ernesto worked at ING Barings as a Product controller at the cash equities and derivatives desk for three years. Ernesto started his career in the investment industry in 1998. He holds a Master's in Financial Economics from Erasmus University Rotterdam. Mathieu van Roon is a portfolio manager with a focus on multi asset & equity solutions and member of the Investment Solutions team. He joined Robeco in 2011 within the Structured Investments department. Mathieu holds a Master’s in both Business Economics and Econometrics (cum Laude) from Erasmus University Rotterdam and is a Financial Risk Manager (FRM®). Colin Graham is Head of Multi Asset & Equity Solutions and Co-Head Investment Solutions. He brings a 25 plus year track record of investment performance, team leadership and innovation in Global, European and Asian multi asset solutions. Most recently he was the Chief Investment Officer, Multi Asset Solutions at Eastspring Investments (part of Prudential plc). Prior to this, he was the Chief Investment Officer, Multi Asset Solutions for BNP Paribas Asset Management in London and Managing Director, Co-Head of Global Multi Asset Strategies at Blackrock.

Per period	Fund	Index
1 month	0.68%	0.64%
3 months	-0.02%	0.13%
YTD	2.89%	3.32%
1 year	5.27%	5.65%
2 years	3.64%	4.62%
3 years	5.71%	6.16%
5 years	0.80%	1.73%
10 years	2.21%	-
Since inception 10-11-1989	3.71%	-

Date	Amount
22-04-2026	EUR 1.16
23-04-2025	EUR 1.16
24-04-2024	EUR 1.13

Download dividend history

Cost of this fund	Percentage
Ongoing charges 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.	1.21%
Included management fee A fee paid by the fund to the asset management company for the professional management of the fund.	1.00%
Included service fee This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.	0.16%
Transaction costs The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.	0.16%

Fiscal product treatment

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.

Fiscal treatment of investor

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.

Strategic Asset Allocation

Actual Asset Allocation

Policies

Per 31-08-2026

Market development

Per 31-08-2026

Government bond yields remained a key market focus in August, with much of the debate centered on developments in the United States. Investors questioned whether higher yields reflected resilient growth and persistent inflation or growing concerns about fiscal sustainability and policy credibility. While discussion focused on the United States, rising yields were evident elsewhere, supported by firmer growth and sticky inflation across major economies. Economic activity and corporate earnings exceeded expectations, supporting risk assets globally. Equity markets responded to the growth backdrop. Emerging markets were among the performers, as concerns around semiconductors and artificial intelligence eased. European equities lagged, despite stronger data, due to their lower exposure to artificial intelligence beneficiaries and sensitivity to rising energy prices linked to the Middle East tensions. Brent oil climbed above ninety dollars during the month, reinforcing concerns. Despite questions around United States policy and debt dynamics, economic fundamentals remained supportive for risk assets and sentiment.

Performance explanation

Per 31-08-2026

Based on transaction prices, the fund's return was 0.68%. The High Income Allocation Fund gained 0.9% during the month, modestly outperforming its benchmark, with year-to-date results remaining broadly aligned. Performance was supported by the portfolio's diversified exposure across equities, currencies and commodities. Asset allocation decisions contributed positively, particularly the overweight positions in US and emerging market equities. In contrast, stock selection detracted in both the fundamental and quantitative equity strategies. Within fixed income, returns were negatively affected by long positions in UK 2-year and 10-year government bonds and German 2-year bonds. Credit positioning also weighed slightly on performance through an overweight in Europe versus the US, an underweight in energy and an overweight in insurance. These headwinds were more than offset by strong contributions from subordinated debt and lower-rated credit, especially BB and B bonds. Currency positioning added value, led by gains from the South Korean won, alongside positive contributions from the Swiss franc, Norwegian krone and Turkish lira. Gold also supported returns further.

Expectation of fund manager

Ernesto Sanichar
Mathieu van Roon
Colin Graham

The economy is expected to remain hot, with productivity-led growth and inflation staying elevated but contained. This environment should support equities, because nominal earnings growth can outweigh pressure from higher discount rates, provided inflation does not move persistently above 4%. The Federal Reserve is expected to sound hawkish while remaining on hold, keeping concerns about currency debasement alive amid large deficits and Treasury intervention. This supports a softer dollar, gold, and pressure on long-term US government bonds. The portfolio favors equities, including emerging markets, and emerging-market debt, although US government bond yields could compete. Gold remains attractive as official-sector demand has resumed. Government bonds provide the clearest relative-value position: short US Treasuries and long UK Gilts, reflecting divergent fiscal settings. Tight credit spreads limit upside, making credit a funding source. Key risks are a hawkish Fed, weakening earnings revisions, broader inflation, equities and bonds selling together, and widening credit spreads.