Robeco Emerging Markets Bonds SH EUR

Sourcing alpha opportunities with high conviction across emerging bond markets

Aandelenklassen Aandelenklassen 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.

Klasse en codes

Fondscategorie
Bonds
ISIN
LU3063670304
Bloomberg
ROEMBSH LX

Fondscategorie

Bonds

ISIN

LU3063670304

Bloomberg

ROEMBSH LX

Index

J.P. Morgan EMBI Global Diversified (Total Return, hedged into EUR)

Informatieverschaffing over duurzaamheid
Informatieverschaffing over duurzaamheid
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

Overzicht Rendement & kosten Portefeuille Duurzaamheid Commentaar Documenten

Kernpunten

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

Over dit fonds

Robeco Emerging Markets Bonds 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 Hard currency (where Hard currency refers to globally traded major currency, such as but not limited to USD, EUR, GBP, JPY and CHF). 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.

Belangrijke feiten

Per 31-07-2026

Totale fondsgrootte	EUR 23,403,392
Grootte van de shareclass	EUR 28,429
Ingangsdatum shareclass	20-05-2025
1-jaars rendement	9.80%
Dividenduitkerend	Nee

Fondsmanager

Diliana Deltcheva
Nicholas Sauer
Richard Briggs

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. 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.

Per periode	Fonds	Index
1 maand	-1.26%	-1.55%
3 maanden	0.92%	-0.11%
YTD	2.92%	0.73%
1 jaar	9.80%	6.65%
Sinds oprichting 20-05-2025	11.32%	8.46%

Kosten van dit fonds	Percentage
Lopende kosten 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.	0.36%
Inbegrepen beheervergoeding A fee paid by the fund to the asset management company for the professional management of the fund.	0.15%
Inbegrepen serviceprovisie This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.	0.16%
Transactiekosten The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.	1.02%

Fiscale behandeling product

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.

Fiscale behandeling belegger

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

Index

Policies

Per 31-07-2026

Marktontwikkeling

Per 31-07-2026

EM hard currency debt (-1.4%) gave back some performance in July, bringing down the YTD return to 1.8%. The monthly returns were driven by larger negative US Treasury (-1.2%) and smaller negative spread (-0.2%) contributions. Spreads added a total of 2.9% YTD and US Treasuries detracted 1%. Lebanon (+8.0%) was the top performer this month, erasing earlier losses, as the situation in the Middle East moved toward a resolution. Oil and gas exporters in Africa such as Mozambique (3.7%), Gabon (3.5%), Angola (1.2%) and Nigeria (0.9%) did well, as oil prices went up by 24% due to US-Iran deal uncertainty. Regionally, Africa and Europe outperformed Asia, Latin America and the Middle East. The worst performers were US Treasury sensitive IG-rated credits with limited cushions to offset the core rates rise such as Malaysia (-3.1%), Uruguay (-2.9%) and Chile (-2.9%).

Toelichting rendement

Per 31-07-2026

Based on transaction prices, the fund's return was -1.26%. The fund outperformed its benchmark by 26 bps on a gross basis, bringing the 1-year performance to +240 bps gross. The sovereign credit overweights in Angola, Laos and BOAD added to performance, as did the underweights in Bahrain, Indonesia and Saudi Arabia, and the overweights in TRY and EGP. In security selection, Uzbeki local and Moroccan OCP added the most. The USD duration overweight detracted from returns, which was partially offset by the EUR duration overweight, which contributed positively.

Verwachting van de fondsmanager

Diliana Deltcheva
Nicholas Sauer
Richard Briggs

Developments in the Middle East continue to leave uncertainty elevated across global financial markets, including EM hard currency bonds. The base case is now for a fragile truce to be in place for the medium term, although we cannot rule out further volatility in energy prices and headline inflation. Core interest rates have not corrected as inflationary risks linger, but balance of payments and fiscal pressures on EMs should be moderating. We would expect that global macro factors such as the outlook for US Treasuries, Fed policy, US equity market evolution as well as geopolitical risks remain important drivers for EM hard currency debt.

Robeco Emerging Markets Bonds SH EUR

Sourcing alpha opportunities with high conviction across emerging bond markets

Kernpunten

Over dit fonds

Belangrijke feiten

Fondsmanager

Rendement

Koersontwikkeling

Kosten

Fiscale behandeling product

Fiscale behandeling belegger

Fondsallocatie

Policies

Marktontwikkeling

Toelichting rendement

Verwachting van de fondsmanager

Fondsdocumenten

(Half)jaarverslagen

Aankondigingen

Let's keep the conversation going