Robeco Customized Euro Government Bonds Fund - EUR G

Investing in euro-denominated bonds issued by the EMU member countries

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
NL0012650451
Bloomberg
ROCEGEG NA

Fondscategorie

Bonds

ISIN

NL0012650451

Bloomberg

ROCEGEG NA

Index

Bloomberg Euro-Aggregate: Treasury (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

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

( 30-06 )

Overzicht Rendement & kosten Portefeuille Duurzaamheid Commentaar Documenten

Kernpunten

Outspoken active and adaptive approach
Country allocation main performance driver
Active duration and yield curve positioning

Over dit fonds

Robeco Customized Euro Government Bonds is an actively managed fund that invests only in euro-denominated government bonds issued by the EMU-member countries. The selection of these bonds is based on fundamental analysis. The fund's objective is to provide long term capital growth.The fund employs an investment process combining top-down and bottom-up elements. Fundamental analysis is performed on each of the three performance drivers: country allocation, duration (interest-rate sensitivity) management and yield curve positioning. Country ESG scores are part of our bottom-up analysis. The targeted duration of the fund can vary over time and depends on the interest rate vision.

Belangrijke feiten

Per 30-06-2026

Totale fondsgrootte	EUR 169,415,765
Grootte van de shareclass	EUR 37,849,231
Ingangsdatum shareclass	19-01-2018
1-jaars rendement	1.26%
Dividenduitkerend	Ja

Fondsmanager

Michiel de Bruin
Stephan van IJzendoorn

Michiel de Bruin is Head of Global Macro and a 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 in 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 a portfolio manager and member of the 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.

Per periode	Fonds
1 maand	0.41%
3 maanden	2.02%
YTD	0.84%
1 jaar	1.26%
2 jaar	3.48%
3 jaar	3.41%
5 jaar	0.42%
Sinds oprichting 18-01-2018	0.65%

Datum	Bedrag
29-06-2026	EUR 2.75
30-06-2025	EUR 2.70
01-07-2024	EUR 1.80
28-06-2023	EUR 0.42

Download dividend history

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.	0.32%
Inbegrepen beheervergoeding A fee paid by the fund to the asset management company for the professional management of the fund.	0.20%
Inbegrepen serviceprovisie This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.	0.12%
Transactiekosten The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.	0.12%

Fiscale behandeling product

The fund is established in the Netherlands. The fund is a mutual fund that is open in the sense of the Dutch Corporate-Income Tax Act 1969. The fund has the status of 'tax-exempt investment institution' in the sense of article 6a of the Dutch Corporate-Income Tax Act 1969, and, as such, is exempt from corporate-income tax. The fund is also exempt from withholding Dutch dividend tax on its dividend distributions. In principle the fund cannot use the Dutch treaty network to reduce any foreign withholding tax, nor can it recover any Dutch dividend 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

Spread positions remained broadly stable in June, with only selective adjustments. The underweight in Italy was partially reduced; while spreads are already at the tighter end of their historical range, we expect them to stabilize amid lower volatility. In France, a cautious stance was maintained given elevated political and fiscal risks. The fund modestly added exposure to Belgium. Overweights in Greece, Bulgaria, and Hungary were maintained, supported by solid fundamentals, strong growth in Greece, and improving prospects for EU funding in Hungary. The portfolio also retained an overweight in SSA paper, with a constructive view on EU bonds, particularly in the longer-dated segment, where spreads continue to offer attractive value.

Policies

Per 30-06-2026

Marktontwikkeling

Per 30-06-2026

German 10-year Bund yields declined by 8 basis points to 2.86%, with the curve flattening as short-dated bonds remained under relative pressure amid a more hawkish central bank narrative. Oil prices, however, trended lower over the course of the month. Following the memorandum of understanding between the US and Iran, oil exports gradually resumed through the Strait of Hormuz. In the US, the June FOMC meeting, the first chaired by Kevin Warsh, delivered a notably hawkish message, leading investors to increase expectations for at least one Fed rate hike in 2026. The ECB raised its deposit facility rate by 25 basis points to 2.25%, in line with expectations, underscoring its continued focus on inflation control. Preliminary June CPI releases across the Eurozone generally surprised to the downside, offering some tentative signs of easing price pressures. Against this backdrop, Eurozone sovereign bond spreads versus Germany widened modestly during the month, reflecting a combination of tighter financial conditions and lingering macro and political uncertainties across the region.

Toelichting rendement

Per 30-06-2026

Based on transaction prices, the fund's return was 0.41%. The fund generated a positive return in July as bond markets benefited from a decline in oil prices, which alleviated inflation concerns. Relative performance was broadly in line with the benchmark (gross of fees). Duration positioning was a modest headwind, while curve positioning and SSA exposure had a neutral impact. Positive contributions came from country allocation decisions across both Eurozone and non-EMU markets.

Verwachting van de fondsmanager

Michiel de Bruin
Stephan van IJzendoorn

For the ECB, the risk of an additional 25 basis point rate hike in September remains, although this outcome is far from certain. Inflation appears to be easing somewhat faster than previously expected, largely supported by the recent decline in energy prices. Whether further tightening will be necessary will depend to a large extent on how energy markets evolve in the coming months. In the US, the shift from markets pricing in rate cuts to anticipating a potential rate hike has led to a significant repricing of front-end yields. For the Fed, we believe a rate hike can still be avoided, provided inflation continues to trend favorably in the near term. Looking ahead, monetary policy is increasingly likely to act as a headwind to economic growth. Within European sovereign spreads, we expect further divergence across countries. French government bond spreads are likely to remain under widening pressure, as investor focus shifts toward upcoming presidential elections and fiscal developments. By contrast, Spain continues to benefit from a more favorable economic backdrop, supporting its relative performance.

Robeco Customized Euro Government Bonds Fund - EUR G

Investing in euro-denominated bonds issued by the EMU member countries

Kernpunten

Over dit fonds

Belangrijke feiten

Fondsmanager

Rendement

Koersontwikkeling

Historie dividenduitkering

Kosten

Fiscale behandeling product

Fiscale behandeling belegger

Fondsallocatie

Policies

Marktontwikkeling

Toelichting rendement

Verwachting van de fondsmanager

Fondsdocumenten

(Half)jaarverslagen

Aankondigingen

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