Robeco Global Credits - Short Maturity BxH HKD

Unconstrained investing across the corporate bond market segments with a short maturity

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
LU3392759711
Bloomberg
RGSHMBX LX

Asset class

Bonds

ISIN

LU3392759711

Bloomberg

RGSHMBX LX

Index

Bloomberg Global Aggregate Corporate 1-5 years (hedged into HKD)

Overview Performance & costs Sustainability Commentary Documents

Key points

Global Credit Fund which primarily invests in short-dated bonds
Managed with an active, value focussed and contrarian investment style
Experienced and stable investment team

About this fund

Robeco Global Credits - Short Maturity is an actively managed fund that invests primarily in a diversified portfolio of global investment grade corporate bonds with a short maturity. The selection of these bonds is based on fundamental analysis. Performance drivers are the top-down beta positioning as well as bottom-up issuer selection. This fund has the flexibility to invest in other fixed income asset classes such as high yield, emerging credits and asset-backed securities. The fund can take limited active duration (interest-rate sensitivity) positions. The fund's objective is to provide long-term capital growth.

Key facts

Per 31-05-2026

Inception date share class	16-06-2026
Dividend paying	Yes

Fund manager

Daniel Ender
Matthew Jackson
Michael Booth
Joost Breeuwsma

Daniel Ender is a portfolio manager investment grade in the Credit team. Previously, he was a credit analyst at Actiam. Daniel started his career in the industry in 2018 at ABN AMRO. He has a Master’s in Financial Economics from Erasmus University Rotterdam and a Bachelor’s in Political Science and Economics from the University of Connecticut. Daniel also is CFA® Charterholder. Matthew Jackson is a portfolio manager global investment grade in the Credit team. He joined Robeco in 2024 from Western Asset Management in London where he started his career in the industry in 2003 and consequently held roles of risk analyst, portfolio analyst, research analyst and portfolio manager of numerous dedicated credit funds and mandates. He holds a Bachelor’s in Economics (Hons) from the University of Sheffield. Michael Booth is a portfolio manager investment grade in the Credit team and has a focus on global investment grade portfolios. Previously, he was a portfolio manager at Invesco. Prior to Invesco, Michael worked as an analyst at Nomura Asset Management and NatWest. He started his career in 2007 at Baker Tilly LLP (now RSM UK) as a chartered accountant. He holds a Bachelor’s degree in Business Management from the University of Nottingham. Joost Breeuwsma is a portfolio manager investment grade in the Credit team. He has a focus on global investment grade portfolios and global green bond portfolios. Prior to starting his career and joining Robeco in 2017 as a credit analyst, he obtained a Master’s with Distinction in Financial Mathematics from King’s College London. Joost is CFA® Charterholder.

The performance data for this fund is either unavailable or restricted by the MIFID legislation, which prevents us from reporting performance data for funds with less than a 12-month track record.

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.	0.82%
Included management fee A fee paid by the fund to the asset management company for the professional management of the fund.	0.60%
Included service fee This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.	0.16%
Transaction costs The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.	0.10%

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 0.05% 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.

Fiscal treatment of investor

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.

Market development

Per 31-05-2026

May saw a marked improvement in market sentiment, as fears of a prolonged Middle East conflict eased. Hopes for a US-Iran agreement grew throughout the month, driving Brent crude oil down from above USD 114/bbl in early May to around USD 92/bbl by month-end. Lower energy prices helped reduce inflation concerns and supported both risk assets and fixed income markets. Sovereign yields initially moved higher, with several major markets reaching multi-year highs amid persistent inflation concerns and geopolitical uncertainty. However, yields reversed course into month-end as expectations for de-escalation improved and inflation fears moderated. US Treasury and European government bond markets both finished the month stronger. Credit markets also benefited from the more constructive backdrop. Investment grade spreads tightened in both the US and Europe, supported by improving risk appetite, resilient economic data, and lower oil prices. The combination of easing macro risks and stronger market sentiment resulted in positive excess returns across credit markets.

Expectation of fund manager

Daniel Ender
Matthew Jackson
Michael Booth
Joost Breeuwsma

The macro backdrop entering Q2 is shaped by a stagflationary impulse that is not fully priced in by markets. With Brent near USD 100/bbl, the inflation-growth trade-off has deteriorated sharply, particularly in Europe and Asia where energy dependence is highest. The Fed retains an easing bias but rate cuts are largely priced out for 2026, while the ECB faces a tougher trade-off, with hikes a tail risk if disruption proves persistent. Against this backdrop, credit spreads remain tight and offer limited compensation for a multi-month Hormuz disruption, rising private credit stress, and AI-driven business model pressure in software. We keep portfolio beta close to neutral and do not chase spreads. Alpha is driven by issuer selection: we favor HALO exposures in energy infrastructure, metals, and critical networks, and remain constructive on well-capitalized European banks. We avoid BDCs and private-credit-linked insurers, stay underweight in software in high yield, and prefer BB over B in EM as dispersion widens.

Robeco Global Credits - Short Maturity BxH HKD

Unconstrained investing across the corporate bond market segments with a short maturity

Key points

About this fund

Key facts

Fund manager

The performance data for this fund is either unavailable or restricted by the MIFID legislation, which prevents us from reporting performance data for funds with less than a 12-month track record.

Price development

Costs

Fiscal product treatment

Fiscal treatment of investor

Market development

Expectation of fund manager

Fund documents

Annual and Semi-Annual Reports

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