Robeco QI Global Dynamic Duration DH USD

Systematic government bond approach to provide long-term capital growth by dynamically adjusting duration

Anteilklasse Anteilklasse 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.

Gattung und Codes

Anlagegattung
Bonds
ISIN
LU2819787727
Bloomberg
RBQGDDU LX

Anlagegattung

Bonds

ISIN

LU2819787727

Bloomberg

RBQGDDU LX

Benchmark

JPM GBI Global Investment Grade Index (hedged into USD)

Angaben zur Nachhaltigkeit
Angaben zur Nachhaltigkeit
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 8

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Rating

( 31-07 )

Überblick Wertentwicklung & Gebühren Vermögensaufstellung Nachhaltigkeit Kommentar Unterlagen

Merkmale

Global government bond exposure with solid credit quality
Anticipating the direction of the bond markets
Proven track record in multiple market environments

Über diesen Fonds

Robeco QI Global Dynamic Duration is an actively managed fund that invests worldwide in government bonds with investment grade quality. The fund's objective is to provide long term capital growth. The fund uses derivatives to dynamically adjust the duration (interest-rate sensitivity) of the portfolio. The duration positioning is based on our proprietary duration model, which predicts the direction of the bond markets using financial market data. The ESG scores of countries are a integral part of our bottom-up country allocation decisions.

Wichtige Fakten

Per 31-07-2026

Fondsvolumen	USD 385,724,554
Größe der Anteilsklasse	USD 2,214,189
Auflegungsdatum der Anteilsklasse	01-01-2006
1 Jahr Wertentwicklung	-0.93%
Ertragsverwendung	Thesaurierend

Fondsmanagement

Olaf Penninga
Lodewijk van der Linden
Johan Duyvesteyn

Olaf Penninga is Portfolio Manager Quant Fixed Income. He has been Portfolio Manager for Global Dynamic Duration since 2005 (Lead portfolio manager since 2011). Furthermore, he has been the Lead Portfolio Manager of the Global Multi-Factor Bonds strategy since inception in 2019. His previous positions with Robeco include that of Lead Portfolio Manager for Robeco’s fundamentally-managed Euro Government Bonds strategy and Researcher with responsibility for fixed income allocation research. Olaf was employed by Interpolis as Investment Econometrician for one year before returning to Robeco in 2003. He started his career in 1998 at Robeco. He holds a Master's in Mathematics (cum laude) from Leiden University. Lodewijk van der Linden is a portfolio manager in the Quant Fixed Income team. Lodewijk has published in the Financial Analyst Journal on the best defensive strategies, has written on leveraging the volatility effect in the Journal of Portfolio Management and on the application of Credit Default Swap Indices in the Journal of Asset Management. He joined Robeco in August 2018. In the period 2015-2018 Lodewijk worked at Aegon Asset Management where he was Risk associate and Team Manager Client Reporting. Lodewijk started his career at PwC as an actuarial consultant in 2013. He holds a Master's in Actuarial Science from the University of Amsterdam and a Master's in Econometrics and Management Science from Erasmus University Rotterdam. Johan Duyvesteyn is a portfolio manager in the Quant Fixed Income team. His areas of expertise include government bond market timing, credit beta market timing, country sustainability and emerging-market debt. He has published in the Financial Analysts Journal, the Journal of Empirical Finance, the Journal of Banking and Finance, and the Journal of Fixed Income. Johan started his career in the industry in 1999 at Robeco. He holds a PhD in Finance, a Master's in Financial Econometrics from Erasmus University Rotterdam and he is a CFA® Charterholder.”

Pro Zeitraum	Fonds	Index
1 Monat	-1.18%	-1.11%
3 Monate	-0.89%	-0.26%
Lfd. Jahr	-1.64%	-0.54%
1 Jahr	-0.93%	1.19%
2 Jahre	-0.64%	1.88%
3 Jahre	2.30%	2.80%
5 Jahre	-1.55%	-0.72%
10 Jahre	0.06%	0.99%
Seit Auflegung 01-01-2006	2.31%	2.90%

Statistiken	3 Jahre	5 Jahre
Ex-post Tracking-Error (%) 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.	2.39	2.61
Information-Ratio 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.	0.12	-0.00
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.	-0.35	-0.87
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..	0.02	-0.38
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.	0.84	0.91
Standardabweichung 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).	4.29	5.21
Max. monatlicher Gewinn (%) The maximum (i.e. highest) absolute positive monthly performance in the underlying period.	3.57	3.57
Max. monatlicher Verlust (%) The maximum (i.e. highest) absolute negative monthly performance in the underlying period.	-3.19	-4.25

Kosten dieses Fonds	Prozentsatz
Laufende Gebühren 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.	0.81%
Inklusive Verwaltungsgebühr A fee paid by the fund to the asset management company for the professional management of the fund.	0.60%
Inklusive Servicegebühr This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.	0.16%
Transaktionskosten The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.	0.12%

Steuerliche Behandlung des Produkts

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.

Steuerliche Behandlung des Anlegers

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.

Fonds

Benchmark

Richtlinien

Per 31-07-2026

Marktentwicklungen

Per 31-07-2026

Bond yields rose in July. Oil prices rose again, driven by a renewed escalation of the US-Iran conflict, which fueled concerns about inflation. The Fed, however, left rates unchanged and Chair Warsh did not clearly signal an intention to hike rates. As a result, the US curve steepened; the 30-year yield rose to 5.27%, the highest yield since 2007. US labor market data continued to point to a 'low-hire, low-fire' environment. The ECB left its deposit rate unchanged, as expected, after hiking rates in June. President Lagarde signaled the ECB might hike rates again, although she also mentioned the near-term downside risks to growth stemming from higher energy prices. Peripheral Eurozone spreads widened marginally versus Bunds amid weaker risk sentiment and heightened geopolitical uncertainty. Japanese yields rose less than US and European yields. US Treasuries returned -1.20%, German Bunds -1.55% and Japanese government bonds -0.47% (all returns hedged to EUR).

Erläuterungen zur Wertentwicklung

Per 31-07-2026

Based on transaction prices, the fund's return was -1.18%. The fund performed largely in line with the index in July. The fund started the month with an overweight duration position in Japan. This position was closed and the fund moved to underweight duration positions in the US and Germany, as yields rose on the renewed escalation in the US-Iran conflict. The underweight positions were closed and the fund moved back to an overweight duration position in Japan toward the end of the month. The initial overweight in Japan and the underweight in Germany detracted, but this was largely compensated by the underweight position in the US. These active duration positions are based on the outcomes of our quantitative duration model. The active positions in the underlying portfolio contributed positively, but this was offset by the duration positions that aim to exploit shorter-term market inefficiencies.

Prognose des Fondsmanagements

Olaf Penninga
Lodewijk van der Linden
Johan Duyvesteyn

The fund's duration policy is driven by the outcomes of our proprietary quantitative duration model. At the end of July, the fund had neutral duration positions in the US and Germany and an overweight duration position in Japan. The valuation variable was strongly positive for Japanese bonds as long-dated bonds offer attractive yields and the monetary policy variable is also positive for Japanese bonds, while it is somewhat negative for US and German bonds. Low-risk equities' performance signaled better demand for safe assets. The inflation and economic growth variables are no longer negative for bonds. The decline in EM equity markets is seen as a cautionary signal for global economic growth.

Robeco QI Global Dynamic Duration DH USD

Systematic government bond approach to provide long-term capital growth by dynamically adjusting duration

Merkmale

Über diesen Fonds

Wichtige Fakten

Fondsmanagement

Wertentwicklung

Kursentwicklung

Statistiken

Gebühren

Steuerliche Behandlung des Produkts

Steuerliche Behandlung des Anlegers

Fondsallokation

Richtlinien

Marktentwicklungen

Erläuterungen zur Wertentwicklung

Prognose des Fondsmanagements

Fondsdokumente

Jahres- und Halbjahresberichte

Bekanntmachungen

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