Robeco Emerging Markets Bonds Local Currency D USD

Sourcing alpha opportunities with high conviction across emerging bond markets

基金類別 基金類別 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.

類別和代碼

資產類別
Bonds
ISIN
LU2862984270
彭博
ROEBLDU LX

資產類別

Bonds

ISIN

LU2862984270

彭博

ROEBLDU LX

指數

J.P. Morgan GBI-EM Global Diversified (Total Return, USD)

可持續發展相關信息
可持續發展相關信息
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.

第8條

概要表現及費用基金組合可持續性評論文件

重點

Highly experienced and stable team with average of 15+ years experience
Sovereign credit analysis at the core of the investment process
Aiming to outperform through superior market positioning, and issuer and bond selection

基金簡介

Robeco Emerging Markets Bonds Local Currency is an actively managed fund investing in assets such as government bonds, asset backed securities and other fixed income securities of emerging countries mainly denominated in Local currencies (local currency refers to currency of the relevant country in which the fund invests). The selection of these assets is based on fundamental analysis. The fund's objective is to achieve a better return than the index and provide long-term capital growth.

基金資料

截至 31-07-2026

基金規模	USD 79,852,242
股份類別規模	USD 33,065
股份類別成立日期	25-09-2024
1年表現	13.06%
股息分派	不派息

基金經理

Richard Briggs
Diliana Deltcheva
Nicholas Sauer
Lauren Mariano

Richard Briggs is a portfolio manager on the Emerging Markets Debt team and member of the Global Macro team. He joined Robeco in 2024. Previously, he was a portfolio manager focused on emerging markets debt at Candriam. Prior to joining Candriam in 2022, he worked at GAM Investments as a portfolio manager covering EMD and prior to that he led the emerging markets credit strategy at CreditSights. He joined the industry in 2011. He holds a Bachelor of Arts with Honours in Economics from the University of Strathclyde and a Master’s in Financial Economics from the University of Glasgow. He is a CFA® Charterholder and holds the CFA ESG certificate. Diliana Deltcheva is Head of Emerging Markets Debt and member of the Global Macro team. She joined Robeco in 2024. Previously, she was Head of Emerging Markets Debt at Candriam. She joined the industry in 2002 at ING Investment Management and worked in various roles, including portfolio manager Emerging Markets Debt. She holds a Bachelor’s in Business Administration/ Political Science & International Relations at the American University in Bulgaria and a Master’s in International Finance from the University of Amsterdam. She is a CFA® Charterholder. Nicholas Sauer is a portfolio manager on the Emerging Markets Debt team and member of the Global Macro team. He joined Robeco in 2024. Previously, he was portfolio manager Emerging Markets Debt at Candriam. Prior to joining Candriam in 2019, he worked in various roles at BMO Global Asset Management, including as portfolio manager EMD and analyst EMD. Nicholas Sauer joined the industry in 2011. He holds a Master’s in Finance and Investments from the Rotterdam School of Management, Erasmus University Rotterdam and is a CFA® Charterholder. Lauren Mariano is a portfolio manager emerging markets debt and member of the Global Macro team. Prior to joining Robeco in 2024, she worked at Manulife on the emerging markets debt team as a portfolio management associate with a focus on sovereigns, currencies and macro-economic analysis. She started her career in the industry in 2017 at Manulife. She holds a Bachelor’s in Finance from Bentley University and is a CFA® Charterholder.

期間回報	基金	Index
1個月	-0.25%	0.30%
3個月	0.22%	1.33%
年初至今	4.59%	1.82%
1年	13.06%	8.99%
成立日期 25-09-2024	9.83%	6.87%

本基金費用	百分比
持續收費 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.	1.45%
包含管理費 A fee paid by the fund to the asset management company for the professional management of the fund.	1.20%
包含服務費 This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.	0.20%
交易費用 The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.	1.23%

財政產品處理

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.

投資者的稅務安排

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.

市場發展

截至 31-07-2026

Emerging market local currency bonds navigated a mixed backdrop in July, as higher US Treasury yields and uncertainty around the timing of Federal Reserve easing weighed on global duration. EM central banks remained on divergent paths, with some continuing to ease policy as domestic inflation moderated, while others maintained restrictive settings amid persistent price pressures and currency considerations. EM currencies were broadly mixed against the US dollar, with country specific fundamentals, commodity prices and differing monetary policy expectations driving relative performance. Resilient domestic activity and improving inflation dynamics supported selected local bond markets, although higher global yields and intermittent risk aversion limited the broader rally. The JPM GBI-EM Global Diversified Index returned +0.30% in USD terms in July, with the bulk of that driven by currencies (+0.48%) rather than local rates (-0.18%).

基金表現分析

截至 31-07-2026

Based on transaction prices, the fund's return was -0.25%. The fund underperformed versus its benchmark in July, primarily due to duration positioning. Overweight duration exposures in Hungary, Turkey and South Africa during the month detracted from performance, as renewed energy-related inflation concerns and elevated global yields weighed on local rates. This was partially offset by positive performance from FX positioning, with the fund's overweight exposure to Latin American currencies contributing positively as the region's currencies remained resilient against the US dollar, supported by attractive carry and relatively favorable fundamentals. On a year-to-date basis, however, the fund continues to deliver meaningful outperformance relative to its benchmark.

基金經理預期

Richard Briggs
Diliana Deltcheva
Nicholas Sauer
Lauren Mariano

Looking ahead, the global backdrop remains one of elevated uncertainty, with geopolitical risks and the potential for renewed inflationary pressures likely to keep volatility high across EM assets. Balance of payments and fiscal dynamics across emerging markets remain broadly supportive, providing an important buffer against external shocks. We continue to favor high-carry markets where credible policy frameworks and improving fundamentals provide attractive risk-adjusted opportunities. At the same time, we remain selective on duration and retain underweights in markets where valuations or external vulnerabilities leave limited room for policy disappointment. Overall, we see scope for attractive carry to remain a positive driver of returns while maintaining a disciplined approach to beta.

Robeco Emerging Markets Bonds Local Currency D USD

Sourcing alpha opportunities with high conviction across emerging bond markets

重點

基金簡介

基金資料

基金經理

基金表現

價格走勢

費用

財政產品處理

投資者的稅務安排

投資組合分佈

基金政策

市場發展

基金表現分析

基金經理預期

基金文件

年度及半年度報告 (只提供英文版)

公布

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