Sustainable Pension Return X EUR
Customized multi asset solutions for strategic portfolios
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
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.
- Performance & costs
- Focus on capital accumulation over the longer term
- Well diversified portfolio, mainly in negotiable securities
- Customized pension solution
About this fund
Sustainable Pension Return is a fund-of-funds that has a mix of asset classes and underlying funds. The fund's objective is to achieve long term capital growth.The fund invests in an optimally diversified mix by spreading the investments across different categories, including in addition to shares, real estate and the category of corporate bonds.
Total size of fund
Size of share class
Inception date fund
Ernesto Sanichar is Portfolio Manager and member of the Sustainable Multi Asset team. He responsible for the Robeco Multi Asset funds, Robeco ONE and Defined contribution funds. His asset specialties are fixed income and FX. He has been part of Robeco's Investment Solutions department since 2005. Previously, he was Treasury Manager for four years. Prior to joining Robeco in 2001, Ernesto worked at ING Barings as a Product controller at the cash equities and derivatives desk for three years. Ernesto started his career in the investment industry in 1998. He holds a Master's in Financial Economics from Erasmus University Rotterdam.
- Per period
- Per annum
Since inception 04/2019
Dividend paying history
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.
Included management fee
A fee paid by the fund to the asset management company for the professional management of the fund.
The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.
Fiscal product treatment
The fund is established in the Netherlands. The fund is closed for corporate-income tax purposes (fiscally transparent). This means that all results are attributed directly to the participants. As a consequence, the fund is not liable to corporate-income tax and withholds no dividend tax.
Fiscal treatment of investor
Professional investors are divided into pension funds and non-pension funds. Dutch pension funds may re-claim the 25% dividend tax deducted on cash dividends entirely. Dutch non-pension funds may deduct the 25% dividend tax deducted on cash dividends in their corporate income tax assessment. Dividend tax in that case is tax deducted at source. No tax is deducted at source on interest income. Thus, Dutch pension funds do not owe taxes on interest income. Dutch non-pension funds should specify interest income in their corporate income tax assessment.
- Top 10
All currency risks are open.
In principle, this share class of the fund does distribute dividend.
Sustainable Pension Return is a fund-of-funds that has a mix of asset classes and underlying funds. The fund's objective is to achieve long term capital growth. The fund promotes E&S (i.e. Environmental and Social) characteristics within the meaning of Article 8 of the European Sustainable Finance Disclosure Regulation, integrates sustainability risks in the investment process and applies Robeco’s Good Governance policy. The fund applies sustainability indicators, including but not limited to, normative, activity-based and region-based exclusions. The fund invests in an optimally diversified mix by spreading the investments across different categories, including in addition to shares, real estate and the category of corporate bonds. The fund does not use a benchmark.
Active. Risk-management systems constantly monitor the deviation of the portfolio from the benchmark, thus avoiding extreme positions.
Full sustainability-related disclosuresDownload full report
Summary sustainability-related disclosuresDownload summary
The fund invests a minimum of 80% in other Robeco managed or externally managed funds which are classified under Article 8 or 9 of SFDR and either promote environmental or social characteristics or have sustainable investment as their objective. Sustainability is thus an important considerations in the fund selection.
The global manufacturing cycle picked up steam. For the first time in six months, the JP Morgan Global Manufacturing indicator moved back towards 50, an indication that manufacturing activity is recovering. The Asia-Pacific region is leading the pack, showing the largest positive macro surprises. The combination of stronger macro data and falling inflation was a goldilocks environment for risky assets. There are questions surfacing about how long this will last, given that inflation data has been persistently 'sticky' and has not fallen as quickly as investors had anticipated. US rate cuts for 2023 have been almost fully priced out. It is also becoming clear that the ECB will need to do more. In short, the peak of the rates cycle has been pushed out. Few asset classes delivered a positive return this month. With a loss of -0.1% in EUR, global equities was one of the best-performing asset classes. Both commodities and emerging market equities lost more than 4%. Global investment grade corporates lost 2.7% and lagged behind government bonds and global high yield.
Based on transaction prices, the fund's return was -0.75%. The Sustainable Pension Return portfolio delivered a negative return of -0.71% in February. The negative return was mainly due to the exposure to emerging markets and real estate. Northern Trust - Emerging Markets Custom ESG Fund was the worst-performing fund in the portfolio, with a loss that exceeded 4%.
Expectation of fund manager
The funds are managed against fixed strategic weights for global equities (55%), real estate (20%), emerging market equities (15%) and high yield bonds (10%). We do not apply any kind of active management.