Robeco Climate Global High Yield Bonds ZH EUR

An active, quality tilted investment strategy, selecting high yield issuers with explicit climate targets that contribute to the goals of the Paris Agreement

Clase de acción Clase de acción 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.

Clase y códigos

Clase de activos
Bonds
ISIN
LU2947881400
Bloomberg
RCGHZHE LX

Clase de activos

Bonds

ISIN

LU2947881400

Bloomberg

RCGHZHE LX

Índice

Solactive Global High Yield Corporate PAB Select Index (hedged into EUR)

Información sobre sostenibilidad
Información sobre sostenibilidad
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.

Artículo 9

Visión general Rentabilidad & costes Cartera de valores Sostenibilidad Comentario Documentos

Puntos clave

Transitioning into a low carbon economy via high yield issuers
Active, quality tilted investment style with an aim to beat a Paris Aligned Benchmark
Building upon the successful long-term high yield track record of Robeco

Acerca de este fondo

Robeco Climate Global High Yield Bonds is an actively managed fund that invests predominantly in bonds with a sub-investment grade rating. The selection of these bonds is based on fundamental analysis. The fund’s sustainable investment objective is to contribute to keeping global temperature rise well-below 2°C by reducing the carbon footprint of the fund. The fund's objective is also to provide long term capital growth. The portfolio is broadly diversified, with a structural bias towards the higher rated part in high yield (BB/B). Performance drivers are the top-down beta positioning as well as bottom-up issuer selection.

Hechos clave

A 30-06-2026

Tamaño del fondo	EUR 445,020,951
Tamaño de la clase de acción	EUR 26,848
Fecha de creación de la clase de acciones	17-12-2024
Rendimiento de 1 año	4.06%
Pago de dividendos	No

Gestor del fondo

Christiaan Lever
Sander Bus
Roeland Moraal
Daniel de Koning

Christiaan Lever is a portfolio manager high yield in the Credit team. Before assuming this role in 2016, he was a financial risk manager at Robeco, focusing on market risk, counterparty risk and liquidity risk within fixed Income markets. Christiaan has been active in the industry since 2010. He holds a Master's in Quantitative Finance and in Econometrics from Erasmus University Rotterdam and he is a CFA® Charterholder. Sander Bus is CIO and a portfolio manager high yield bonds in the Credit team. He has been dedicated to high yield at Robeco since 1998. Previously, Sander worked for two years as a fixed income analyst at Rabobank where he started his career in the industry in 1996. He holds a Master's in Financial Economics from Erasmus University Rotterdam and he is a CFA® Charterholder. Roeland Moraal is Head of Leveraged Finance, and a portfolio manager high yield in the Credit team. Before assuming this role, he was a portfolio manager in the Robeco Duration team and worked as an analyst with the Institute for Research and Investment Services. Roeland started his career in the industry in 1997. He holds a Master's in Applied Mathematics from the University of Twente and a Master’s in Law from Erasmus University Rotterdam. Daniel de Koning is a portfolio manager high yield in the Credit team. Prior to joining Robeco in 2020, he was a portfolio manager high yield at NN Investment Partners. Daniel started his career in 2011 at APG Asset Management, where he held roles of credit analyst and portfolio manager high yield. He holds a Master’s in Business Economics from the University of Amsterdam and he is a CFA® and CAIA® charterholder.

Por periodo	Fondo	Index
1 mes	0.66%	0.36%
3 meses	2.60%	2.70%
YTD	1.24%	1.00%
1 año	4.06%	3.27%
Desde inicio 17-12-2024	4.93%	4.59%

Coste de este fondo	Porcentaje
Gastos corrientes 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.	0.02%
Comisión de gestión incluida A fee paid by the fund to the asset management company for the professional management of the fund.	0.00%
Comisión de servicio incluida This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.	0.00%
Gastos transaccionales The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.	0.06%

Tratamiento fiscal del producto

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.

Tratamiento fiscal del inversor

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.

Fondo

Índice

Políticas

A 30-06-2026

Evolución del mercado

A 30-06-2026

In June, high yield OAS widened by 11 bps to 276, and YTW widened 4 bps to 6.81%. The Iran war took a decisive turn in June after the US and Iran signed a memorandum of understanding on mid June to reopen the Strait of Hormuz, making Brent crude tumble 21%, to settle near USD 73/bbl, though late-month tit-for-tat strikes underscored how fragile the truce remains. The US labor market softened, with June payrolls at just +57K (vs 110K consensus) and prior months revised down a combined 74K, though unemployment ticked down to 4.2% on a plunging participation rate. June core PCE rose to 3.4%, the highest since October 2023, as the energy shock continued. The FOMC held rates at 3.50%, but the dot-plot turned hawkish, with at least one hike being priced in this year. In Europe, the ECB hiked 25 bps to 2.25% on June 11, but the June flash CPI surprised to the downside at 2.8% (from 3.2%), with core at 2.4%, raising questions over whether July brings a hold or another hike. Dollar high yield issuance took pace in June, with USD 35 bln of high yield bonds issuance, and USD 13 bln affected by defaults/LME transactions.

Explicación del rendimiento

A 30-06-2026

Based on transaction prices, the fund's return was 0.66%. In June, the high yield benchmark returned 0.36%. Credit excess returns were strong over the month, with a tiny contribution from rates return as well, which ended the period flat, with the 10-year US yield at 4.46%. The portfolio outperformed by 7 bps. Issuer selection was positive, adding 12 bps to performance, while beta positioning's contribution was -5 bps. Euro-denominated bonds outperformed on a risk-adjusted basis, rebounding from several periods of weakness. While BBs delivered solid performance, overall B-rated corporates outperformed. From a sector perspective, underweight in the communications and overweight in the banking sectors added 10 and 4 bps, whereas underweight in the consumer cyclical and underweight in the consumer non-cyclical sectors detracted 4 and 5 bps. Underweight in Virgin Media contributed 4 bps, as bonds slipped over the month on negative sentiment building up from the previous month's news. Underweight in Bausch Health detracted 3 bps, as the bonds of the levered pharma company rebounded following surprising Q1 revenue growth.

Expectativas del gestor del fondo

Christiaan Lever
Sander Bus
Roeland Moraal
Daniel de Koning

Global high yield enters 2026Q3 with valuations still tight, despite an increasingly complex macro backdrop. The Iran ceasefire and falling oil prices, together with signs of a cooling US labor market, should help contain inflation and reduce the need for further hikes from both the Fed and ECB. Geopolitical risk hasn't disappeared, however. While the immediate Gulf threat has diminished, the Russia-Ukraine conflict has entered a more unpredictable phase, and although markets have largely shrugged this off, it raises the risk of tail events and volatility spikes. Meanwhile, the AI investment cycle continues unabated, driving strong issuance across credit markets including a growing number of data center-related HY transactions, with investor demand comfortably absorbing supply so far. Dispersion remains elevated: most issuers trade well inside long-term averages, while a smaller group widens materially on company-specific concerns, refinancing risk or structural disruption. We remain cautious, emphasizing quality, resilience and downside protection, while avoiding areas where spreads offer insufficient compensation for the macro and geopolitical risks at hand.

Robeco Climate Global High Yield Bonds ZH EUR

An active, quality tilted investment strategy, selecting high yield issuers with explicit climate targets that contribute to the goals of the Paris Agreement

Puntos clave

Acerca de este fondo

Hechos clave

Gestor del fondo

Rentabilidad

Evolución del precio

Coste

Tratamiento fiscal del producto

Tratamiento fiscal del inversor

Asignación del fondo

Políticas

Evolución del mercado

Explicación del rendimiento

Expectativas del gestor del fondo

Documentos del fondo

Informes anuales y semestrales

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