Robeco US Large Cap Equities – EUR X

Benefiting from value in US large-cap stocks

基金類別 基金類別 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.

類別和代碼

資產類別
Equities
ISIN
NL0012650717
彭博
RUSLCEX NA

資產類別

Equities

ISIN

NL0012650717

彭博

RUSLCEX NA

參考指數

Russell 1000 Value Index (Gross Total Return, EUR)

可持續發展相關信息
可持續發展相關信息
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.

第8條

晨星評級 晨星評級 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.

評級

( 31-07 )

概要表現及費用基金組合可持續性評論文件

重點

Large cap value fund.
Selects the best investment candidate with a market capitalization greater than $2 billion.
Bottom-up fundamental research investment discipline.

基金簡介

Robeco US Large Cap Equities N.V. invests in largecap stocks in the US. The selection of these stocks is based on fundamental analysis. The fund is primarily composed of stocks with a market capitalization of more than USD 2 billion. Its bottom-up stockselection process seeks to find undervalued stocks and is guided by a disciplined value approach, intensive internal research and risk aversion.

基金資料

截至 31-07-2026

基金規模	EUR 60,983,263
股份類別規模	EUR 24,683,420
股份類別成立日期	28-11-2017
1年表現	28.49%
股息分派	派息

基金經理

Mark Donovan CFA
Joshua White CFA
David Cohen CFA

Mr. Donovan is a Senior Portfolio Manager of the Boston Partners Large Cap Value strategy, a role he has held since the firm's inception in 1995. During his tenure, he served 11 years as Co-Chief Executive Officer, responsible for strategic and tactical operating decisions affecting the firm. Mr. Donovan was one of the founding partners of the firm, joining from The Boston Company where he was Senior Vice President and an equity portfolio manager. Before this, he spent five years as a consulting associate with Kaplan, Smith & Associates and two years as a securities analyst for Value Line, Inc. For 10 years, Mr. Donovan was a trustee at St. Sebastian's School where he served on the Investment and Long Range Planning Committees. He holds a B.S. in Management from Rensselaer Polytechnic Institute and the Chartered Financial Analyst® designation. Mr. Donovan began his career in the investment industry in 1981. Mr. White is a Portfolio Manager of the Boston Partners Large Cap Value strategy. His experience at the firm includes managing a portion of the Boston Partners Long/Short Research strategy while covering multiple economic sectors including basic industries, consumer durables, and capital goods. Mr. White was also a portfolio manager of the Boston Partners Global Equity and Boston Partners International Equity strategies and, before that, he was a global generalist providing fundamental research on global equities. He joined the firm in November 2006. Mr. White holds a B.A. in Mathematics from Middlebury College and the Chartered Financial Analyst® designation. He began his career in the investment industry in 2006. Mr. Cohen is a Portfolio Manager of the Boston Partners Large Cap Value strategy. His experience at the firm includes managing a portion of the Boston Partners Long/Short Research strategy, focusing on security selection within the energy sector as well as the engineering & construction and metals & mining industries. Prior to his current role, Mr. Cohen served as an equity analyst covering these same industries. He has deep experience analyzing and understanding capital-intensive commodity-oriented businesses. Mr. Cohen joined the firm in June 2016 from Loomis Sayles where he had over eight years of experience as a portfolio manager of its research fund and in running a global energy hedge fund. As an equity analyst, he covered the energy, materials, and industrials sectors. Prior to joining Loomis Sayles, Mr. Cohen was in consultant relations at MFS Investment Management. He earned a B.A. from the University of Michigan and an M.S. in Finance from Brandeis University. He holds the Chartered Financial Analyst® designation. Mr. Cohen began his career in the investment industry in 2004.

期間回報	基金	Index
1個月	-0.75%	3.14%
3個月	9.27%	11.42%
年初至今	20.67%	23.18%
1年	28.49%	30.51%
2年	14.69%	15.86%
3年	17.28%	16.23%
5年	14.06%	12.51%
成立日期 27-11-2017	12.75%	11.94%

基金數據	3年	5年
事後追蹤誤差(%) 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.	3.95	3.75
信息比率 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.	0.42	0.57
夏普比率 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.	1.12	0.90
阿爾法系數(%) 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..	1.05	1.92
貝塔值 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.	1.04	1.01
標準差 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).	13.42	14.00
最大月收益 (%) The maximum (i.e. highest) absolute positive monthly performance in the underlying period.	10.03	10.17
最大月損失 (%) The maximum (i.e. highest) absolute negative monthly performance in the underlying period.	-7.81	-7.85

日期	總額
21-07-2026	EUR 0.54
29-06-2026	EUR 3.06
21-07-2025	EUR 0.33
30-06-2025	EUR 1.87

下載股息紀錄

本基金費用	百分比
持續收費 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.	0.52%
包含管理費 A fee paid by the fund to the asset management company for the professional management of the fund.	0.40%
包含服務費 This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.	0.12%
交易費用 The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.	0.48%

財政產品處理

The fund is established in the Netherlands. The fund is managed as a 'naamloze vennootschap' (public limited company). The fund has the status of 'fiscal investment institution' in the sense of article 28 of the Dutch Corporate-Income Tax Act 1969, and, as such, is taxed at a corporate-income tax rate of 0%.The fund is obliged to pay out the realized current income in the form of dividend within 8 months after the end of the financial year. From 1 January 2007 the fund withholds Dutch dividend tax at a rate of 15% from these dividend payments. The fund can in principle use the Dutch treaty network to partially recover any withholding tax on its income.

投資者的稅務安排

For a private investor residing in the Netherlands, the actual received interest, dividends or capital gains are not relevant for tax purposes. For Dutch tax-resident private investors, their holdings fall under Box 3. Investors pay annual tax on a fixed yield calculated based on the value of their assets as of 1 January. The return depends on the pro-rata allocation of assets to different categories, namely savings, debts or other assets. The holdings qualify as other assets for which the return rate is set at 6.04% (as of 1/1/2024; 6.17% as of 1/1/2023). The return rate is adjusted annually based on historical returns from previous years. The balance of the different asset categories is referred to as the return base. The effective return rate is then calculated by dividing the return by the return base. This effective return rate is applied to the savings and investments base to calculate the benefit from savings and investments. The savings and investments base is equal to the return base minus the tax-free amount. Investors pay income tax (36% in 2024; 32% in 2023) on this calculated benefit from savings and investments. The withheld Dutch dividend tax (15% as of 1/1/2024) is creditable against the income tax payable for investors residing in the Netherlands. Investors who are not subject to (exempt from) Dutch corporate tax (including Dutch pension funds) are not taxed on the result obtained. Dutch exempt entities can fully reclaim the 15% dividend tax withheld on dividends.Investors subject to Dutch corporate tax may be taxed on the result obtained from their investment in the fund, including dividend income and capital gains. Dutch corporate taxpayers can, in principle, credit the withheld dividend tax (15% as of 1/1/2024) against corporate tax and, under certain conditions, credit the excess in later years. For investors outside the Netherlands, their own national tax legislation applies to foreign investment funds. Shareholders who are not subject to tax in the Netherlands and reside in countries that have a double taxation treaty with the Netherlands may, depending on the treaty, reclaim (a portion of) the Dutch dividend tax from the Dutch tax authorities. A pension fund located in another EU member state or a country that has entered into an information exchange agreement with the Netherlands and is similar to a Dutch pension fund is also entitled to a refund of Dutch dividend tax. The above is based on current Dutch tax legislation.

基金政策

截至 31-07-2026

市場發展

截至 31-07-2026

US equities delivered mixed results in July, with the S&P 500 modestly higher as renewed AI concerns, higher oil prices and rising bond yields outweighed strong late-month technology earnings. Market volatility prompted a rotation away from expensive growth stocks, helping value outperform growth, led by energy and financials.

基金表現分析

截至 31-07-2026

Based on transaction prices, the fund's return was -0.75%. Robeco US Large Cap Equities N.V. underperformed versus the Russell 1000 Value Index in July. Overall detraction in the fund largely came down to stock selection in information technology, which accounted for approximately 95% of the difference in relative performance over the month. Applied Materials and Micron Technology were the two largest individual detractors from relative return; both are equipment and memory names that were among the most exposed to the profit-taking. Besides, both stocks were dropped from the Russell value indices in the June rebalance. Industrials was another weak area from a stock selection perspective. C. H. Robinson was the largest detractor falling over 21% due to a trucking accident lawsuit. On a positive note, stock section added value across healthcare, financials, consumer discretionary and energy. From a sector allocation standpoint, the fund's overweight exposure to materials and industrials had the largest negative impact.

基金經理預期

Mark Donovan CFA
Joshua White CFA
David Cohen CFA

Three themes are shaping markets: the AI trade, the Iran conflict and uncertainty under Fed Chair Kevin Warsh. July's AI weakness appears to be a reassessment rather than a structural reversal, with investors focused on returns from hyperscalers' capital spending. Oil remains sensitive to developments in Iran and could fall if tensions ease. Inflation data and Warsh's Jackson Hole speech will be key to the interest rate outlook. We remain constructive over the long term while alert to downside risks and opportunities created by market pullbacks. As always, we remain focused on selecting companies from the bottom-up that reflect the Boston Partners' three circle characteristics – attractive valuations, solid business fundamentals, and identifiable catalysts.

Robeco US Large Cap Equities – EUR X

Benefiting from value in US large-cap stocks

重點

基金簡介

基金資料

基金經理

基金表現

價格走勢

基金數據

派息紀錄

費用

財政產品處理

投資者的稅務安排

投資組合分佈

基金政策

市場發展

基金表現分析

基金經理預期

基金文件

年度及半年度報告 (只提供英文版)

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