Robeco Sustainable Global Bonds IH CHF

Unconstrained flexibility to capture opportunities by investing in government and corporate bonds

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
Bonds
ISIN
LU2885076781
Bloomberg
RSGBIHC LX

Asset class

Bonds

ISIN

LU2885076781

Bloomberg

RSGBIHC LX

Index

Bloomberg Global-Aggregate Index (hedged into CHF)

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

( 30-11 )

Overview Performance & costs Portfolio Sustainability Commentary Documents

Key points

Invests globally in government and corporate bonds.
Enhanced sustainability profile with multiple sustainability indicators.
Dynamic cross-asset class strategies within fixed income to take advantage of global opportunities.

About this fund

Robeco Sustainable Global Bonds is an actively managed fund that invests globally in developed government and corporate bonds but also has the flexibility to invest in Emerging Debt. The selection of these bonds is based on fundamental analysis. The fund's objective is to provide long term capital growth. The fund is a well-diversified global bond portfolio, which aims to achieve attractive returns by means of a top-down asset-allocation policy. The fund will pursue an active duration policy with the objective to limit draw downs when bond yields rise and enhance returns when bond yields fall.

Key facts

Per 30-11-2025

Total size of fund	CHF 313,238,009
Size of share class	CHF 32,536
Inception date share class	13-12-2024
1-year performance	1.44%
Dividend paying	No

Fund manager

Michiel de Bruin
Stephan van IJzendoorn
Lauren Mariano

Michiel de Bruin is Head of Global Macro and Portfolio Manager. Prior to joining Robeco in 2018, Michiel was Head of Global Rates and Money Markets at BMO Global Asset Management in London. He held various other positions before that, including Head of Euro Government Bonds. Before he joined BMO in 2003, he was, among others, Head of Fixed Income Trading at Deutsche Bank in Amsterdam. Michiel started his career in the industry in 1986. He holds a post graduate diploma investment analyses from the VU University in Amsterdam and is a Certified EFFAS Analyst (CEFA) charterholder. He holds a Bachelor’s in Applied Sciences from University of Applied Sciences in Amsterdam. Stephan van IJzendoorn is Portfolio Manager and member of Robeco’s Global Macro team. Prior to joining Robeco in 2013, Stephan was employed by F&C Investments as a Portfolio Manager Fixed Income and worked in similar functions at Allianz Global Investors and A&O Services prior to that. Stephan started his career in the Investment Industry in 2003. He holds a Bachelor’s in Financial Management, a Master's in Investment Management from VU University Amsterdam and is Certified European Financial Analyst (CEFA) Charterholder. Lauren Mariano is Portfolio Manager and member of Robeco’s Global Macro team. Prior to joining Robeco in 2024, she worked at Manulife as an analyst and as a fixed income 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.

Per period	Fund	Reference index
1 month	0.01%	-0.12%
3 months	0.44%	0.64%
YTD	2.35%	0.96%
1 year	1.44%	-0.26%
2 years	1.02%	1.34%
3 years	-0.51%	0.28%
5 years	-3.70%	-2.89%
10 years	-1.15%	-0.54%
Since inception 26-02-2014	-0.60%	-0.06%

Statistics	3 years	5 Years
Tracking error ex-post (%) 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.	1.34	1.12
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.	-0.22	-0.31
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.	-0.19	-0.71
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..	-0.20	-0.21
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.	1.11	1.04
Standard deviation 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).	4.93	5.04
Max. monthly gain (%) The maximum (i.e. highest) absolute positive monthly performance in the underlying period.	3.08	3.08
Max. monthly loss (%) The maximum (i.e. highest) absolute negative monthly performance in the underlying period.	-2.63	-3.71

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.	0.53%
Included management fee A fee paid by the fund to the asset management company for the professional management of the fund.	0.40%
Included service fee This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.	0.12%
Transaction costs The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.	0.34%

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 0.01% 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

Investors who are not subject to (exempt from) Dutch corporate-income tax (e.g. pension funds) are not taxed on the achieved result. Investors who are subject to Dutch corporate-income tax can be taxed for the result achieved on their investment in the fund. Dutch bodies that are subject to corporate-income tax are obligated to declare interest and dividend income, as well as capital gains in their tax return. Investors residing outside the Netherlands are subject to their respective national tax regime applying to foreign investment funds. We advise individual 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 30-11-2025

Government bond market returns were mixed over November. The 10-year US Treasury yield declined by 6 basis points to 4.01%, while German Bund yields increased by 6 basis points. The US government shutdown ended, allowing official economic statistics to resume publication. US labor market signals turned more cautious as WARN notices are jumping, indicating large employers are preparing for increased layoffs. A dovish speech by regional Fed President Williams caused markets to raise the probability of a December Fed cut to 80%. Across the Atlantic, UK Chancellor Reeves presented the much-anticipated 2025 budget, which was well received by markets, while in France, tough budget negotiations remain ongoing. The ECB made it quite clear that it aims to keep rates on hold for a while. Italian 10-year spreads tightened to 71 basis points, reflecting improved risk sentiment, while also receiving a one-notch upgrade to Baa2 by Moody's.

Performance explanation

Per 30-11-2025

Based on transaction prices, the fund's return was 0.01%. The fund posted a positive return in October and outperformed the index. The fund's underweight in Japanese duration contributed positively as JGBs underperformed versus peers but overweight duration positions in Germany, Australia and the UK detracted from performance. Steepener positions overall added to performance this month, as the back end of the EUR curve steepened in anticipation of Dutch pension fund flows in early 2026. Positioning in EM local debt contributed positively, with Brazilian exposure performing well following weaker economic data. The fund's underweight in Chinese debt added to relative performance versus the benchmark in October and is still a positive contributor year-to-date. EM hard currency debt also contributed positively to performance, as spreads in Bulgaria and Romania tightened. Lastly, credit strategies underperformed versus the benchmark, while government-related exposure outperformed in November.

Expectation of fund manager

Michiel de Bruin
Stephan van IJzendoorn
Lauren Mariano

In Europe, the ECB's latest meeting reinforced its stance that policy rates are "in a good place". Risks to inflation seem quite balanced; if anything, the upside risks seem to be getting smaller. The continued moderation of wage growth adds to this trend, suggesting that, for now, the hurdle to hike is probably still larger than the hurdle to cut rates. Curve steepening beyond 10 years remains likely, as rising issuance meets declining (pension fund) demand for ultra-long euro duration. Meanwhile, peripheral bond spreads over Germany continue to converge, supported by recent sovereign rating upgrades in Italy, Greece, and Portugal. France remains the exception as a deterioration in next year's fiscal outlook is likely. Financial markets are optimistic about US growth prospects, driven by the ongoing AI investment boom, which is lifting corporate capex and equity valuations. Markets currently price a Fed funds through near 3%, which is within the Fed's long-term neutral range. On the US curve, we see relative value in 2-year and 5-year Treasuries versus 7- to 10-year maturities, as nominal and real term premiums remain compressed in longer tenors.

Robeco Sustainable Global Bonds IH CHF

Unconstrained flexibility to capture opportunities by investing in government and corporate bonds

Key points

About this fund

Key facts

Fund manager

Performance

Statistics

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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