Robeco Sustainable Income Allocation D 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
Asset Allocation
ISIN
LU2776675253
Bloomberg
ROBSIDE LX

Asset class

Asset Allocation

ISIN

LU2776675253

Bloomberg

ROBSIDE LX

Index

50% MSCI All Country World Index (Net Return, EUR) 50% Bloomberg Global Aggregate (hedged into EUR)

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

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 Sustainable 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.

Key facts

Per 30-04-2026

Total size of fund	EUR 116,324,955
Size of share class	EUR 30,279
Inception date share class	19-03-2024
1-year performance	5.17%
Dividend paying	No

Fund manager

Ernesto Sanichar

Ernesto Sanichar is Portfolio Manager and member of the Sustainable Multi Asset team. He responsible for the Robeco Multi Asset funds, Robeco ONE and Defined contribution funds. 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 Portfolio Manager and member of the Sustainable Multi Asset team and is responsible for the Robeco Multi Asset funds, Robeco ONE and Defined contribution funds. 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) charterholder.

Per period	Fund	Index
1 month	2.04%	2.16%
3 months	0.27%	0.87%
YTD	1.09%	1.36%
1 year	5.17%	6.78%
2 years	5.40%	6.17%
Since inception 19-03-2024	4.40%	5.34%

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.

Market development

Per 30-04-2026

Equities rebounded strongly in April, with the S&P 500 rising 10.4% and the Nasdaq 15.7%, both reaching record levels. However, the recovery was narrow, driven largely by technology and AI-related stocks, while defensives, healthcare and most non-US markets lagged. Geopolitics remained a key driver. The Iran ceasefire reduced immediate risks but left a fragile stalemate, with Brent crude still elevated around USD 114, weighing on energy-importing economies. Earnings have been robust, particularly in the US where Q1 EPS growth is tracking around 31% year-on-year, though heavily concentrated in a few sectors. Europe delivered more modest growth, while Japan sits in between. Central banks are no longer discussing rate cuts. The Fed, ECB and BoE held rates but signaled caution, while the BoJ is gradually shifting toward tightening. Bonds offered limited diversification, with yields remaining elevated and correlations with equities still positive. Credit spreads remain tight. The dollar showed some defensive characteristics, supported by ongoing capital inflows despite longer-term structural pressures.

Performance explanation

Per 30-04-2026

Based on transaction prices, the fund's return was 2.04%. The Sustainable Income Allocation Fund returned +2.1% over the month, in line with the benchmark. In the latter part of the period, the portfolio was repositioned toward a modest equity overweight, reflecting improving sentiment. The overweight to emerging market equities contributed, benefiting from the relief rally, supported by a strong payoff from the long leg of our equity index options. The decision to hedge oil volatility through long Norwegian Krone positions added value. From a fundamental perspective, stock selection was a key driver. Alphabet, Siemens Energy, and Vertiv were top contributors, supported by earnings and AI-related demand. On the downside, Cheniere Energy, AstraZeneca, and Thermo Fisher detracted, reflecting weaker sentiment and cautious outlooks. The defensive, minimum-volatility segment lagged in the risk-on environment. In credit, performance was supported by issuer selection. The overweight to euro-denominated bonds proved beneficial amid the region's rebound. Sector allocation contributed positively, with an underweight in technology supporting returns. The overweight in BB-rated securities was also a contributor.

Expectation of fund manager

Ernesto Sanichar

The outlook is highly dependent on the evolution of the Iran-US situation, which has reshaped market dynamics around two key factors: AI exposure and energy independence. The US stands out on both fronts, while Europe and energy-importing Asia face ongoing structural headwinds unless oil prices decline materially. Our base case assumes the ceasefire holds, shipping disruptions ease, and Brent falls toward USD 90 by year-end. Even then, inflation is likely to remain elevated into 2027 due to delayed passthrough effects. A more adverse scenario would see oil stay above USD 100, delaying rate cuts and further widening performance gaps. Central banks are currently focused on inflation but are likely to shift toward growth concerns over time. We expect the Fed, ECB and BoE to remain on hold, with only a small chance of further ECB tightening. We are modestly overweight in equities, favoring the US and emerging markets, and underweight in Europe and Japan. We remain cautious on duration, but see value emerging selectively in European bonds, while maintaining exposure to commodities and related currencies.

Robeco Sustainable Income Allocation D EUR

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

Key points

About this fund

Key facts

Fund manager

Performance

Costs

Fiscal product treatment

Fiscal treatment of investor

Fund allocation

Policies

Market development

Performance explanation

Expectation of fund manager

Fund documents

Annual and Semi-Annual Reports

Announcements

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