RobecoSAM Global SDG Engagement Equities I EUR
Actively targeting impact and financial returns
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
MSCI All Country World Index (Net Return, EUR)
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
- Helping business achieve positive impact through engagement.
- Drive clear and measurable improvements in a company’s contribution to the SDG’s while achieving attractive investment returns.
- Concentrated portfolio includes assessment on SDGs engagement potential.
About this fund
RobecoSAM Global SDG Engagement Equities is an actively managed fund that invests in a concentrated selection of global stocks. Stock selection is based on fundamental analysis to invest in companies based on their contribution to the United Nations Sustainable Development Goals (UN SDGs). The fund will actively engage with the invested companies and initiate a dialogue to motivate these companies to improve their fulfilment of the UN SDGs over three to five years via active engagement. The portfolio is built on the basis of an eligible investment universe and an internally developed SDG framework for mapping and measuring SDG contributions (information can be obtained via the website www.robeco.com/si).The fund also aims to achieve a better return than the index.
Total size of fund
Size of share class
Inception date share class
Michiel Plakman CFA
Daniela da Costa
Peter van der Werf
Michiel Plakman is Lead Portfolio Manager and member of the Global Equity team. He is also Co-Head of Robeco’s Global Equity team. He is responsible for fundamental global equities with a focus on SDG investing and on companies in the information technology, real estate & communication services sectors, as well as portfolio construction. He has been in this role since 2009. Previously, he was responsible for managing the Robeco IT Equities fund within the TMT team. Prior to joining Robeco in 1999, he worked as a Portfolio Manager Japanese Equities at Achmea Global Investors (PVF Pensioenen). From 1995 to 1996 he was Portfolio Manager European Equities at KPN Pension Fund. He holds a Master's in Econometrics from Vrije Universiteit Amsterdam and he is a CFA® Charterholder. Daniela da Costa is responsible for the team’s investments in Brazil and the African consumer sector. Prior to joining Robeco in 2010, she was Portfolio Manager Latin American Equities at Nomura in London. Before that, Daniela worked at HSBC and with the Petrobras pension fund in Brazil. She started her career in the industry in 1997. Daniela holds a Master's in Economics from the Brazilian Capital Markets Institute in Rio de Janeiro (IBMEC-RJ) and a MBA certificate in pension fund asset management from the Federal University of Rio de Janeiro (COPPE-UFRJ). She is board member of AMEC, the Brazilian stewardship agency and a member of Robeco’s SDG committee and Biodiversity Task Force. Peter van der Werf is Head of Engagement at Robeco. He leads the corporate and sovereign engagement program in the Active Ownership team and is involved in further integration of active ownership in Robeco’s investment products. With his engagement work he has challenged sustainability leadership at more than 200 global companies to align their environmental and social strategy with Robeco’s sustainable investing philosophy. As Portfolio Manager SDG Engagement Equities, Peter contributes to impact investing in listed equity. He is also an Advisory Board member of the Finance for Biodiversity foundation. Peter started his career in 2007 and holds a Master’s in Environmental Sciences from Wageningen University.
- Per period
- Per annum
Since inception 07/2021
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.
Included service fee
This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.
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 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 0.01% 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
Investors who are not subject to (exempt from) Dutch corporate-income tax (e.g. pension funds) are not taxed on the achieved result. Investors who are subject to Dutch corporate-income tax can be taxed for the result achieved on their investment in the fund. Dutch bodies that are subject to corporate-income tax are obligated to declare interest and dividend income, as well as capital gains in their tax return. Investors residing outside the Netherlands are subject to their respective national tax regime applying to foreign investment funds. We advise individual 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.
- Top 10
The fund is allowed to pursue an active currency policy to generate extra returns and can engage in currency hedging transactions.
The fund does not distribute dividend. The fund retains any income that is earned and so its entire performance is reflected in its share price.
RobecoSAM Global SDG Engagement Equities is an actively managed fund that invests in stocks all over the world. The selection of these stocks is based on fundamental analysis. The fund has sustainable investment as its objective within the meaning of Article 9 of the European Sustainable Finance Disclosure Regulation. The fund invests in companies that are able to have a clear and measurable improvement in their contribution to the United Nations Sustainable Development Goals (UN SDGs) over three to five years via active engagement. The fund integrates ESG (Environmental, Social and Governance) factors 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, and applies proxy voting and engagement. The fund also aims to provide long term capital growth. The portfolio is built on the basis of the eligible investment universe and an internally developed SDGs framework for mapping and measuring SDG contributions, about which more information can be obtained via the website www.robeco.com/si. The fund has a concentrated portfolio of stocks with the highest potential value growth.
Risk management is fully integrated into the investment process to ensure that positions always meet predefined guidelines.
ESG Important Information
The sustainability information below can help investors integrate sustainability considerations in their process. This information is for informational purposes only. The reported sustainability information may not at all be used in relation to binding elements for this fund. A decision to invest should take into account all characteristics or objectives of the fund as described in the prospectus.
The fund incorporates sustainability in the investment process by the means of a target universe, exclusions, ESG integration and engagement. The fund solely invests in stocks issued by companies with a low negative to low positive impact on the SDGs. The impact of issuers on the SDGs is determined by applying Robeco's internally developed three-step SDG Framework. The outcome is a quantified contribution expressed as an SDG score, considering both the contribution to the SDGs (positive, neutral or negative) and the extent of this contribution (high, medium or low). The fund actively engages with 100% of the corporate holdings typically for a period of three to five years. The fund does not invest in stock issuers that are in breach of international norms or where activities have been deemed detrimental to society following Robeco's exclusion policy. Financially material ESG factors are integrated in the bottom-up fundamental investment analysis to assess existing and potential ESG risks and opportunities. In addition, where a stock issuer is flagged for breaching international standards in the ongoing monitoring, the issuer will become subject to exclusion. Lastly, the fund makes use of shareholder rights and applies proxy voting in accordance with Robeco's proxy voting policy.The following sections display the ESG-metrics for this fund along with short descriptions. For more information please visit the sustainability-related disclosures.The index used for all sustainability visuals is based on MSCI All Country World Index (Net Return, EUR).
October was a tough month for global equity markets (-3% in EUR; -3% in USD). Navigating the interplay of the reporting season against a more nervous macro backdrop, rising yields and markets still trading richly, led to high volatility. As investors digest the first set of profit warnings, mainly in the industrials and consumer discretionary sectors, most companies guide for a sharp deceleration in demand as we exit 2023. Any negative surprise is punished aggressively it seems, with the market clearly avoiding highly leveraged companies with floating debt and refinancing risks as yields continue to climb. After the October rout, it seems the market is again torn between geopolitical de-escalation and more dovish central banks on the one hand, and rising tensions and continuous upward pressure on yields on the other. Although we recognize that several quality hiding areas are becoming crowded, such as within the technology and healthcare sectors, we continue to prefer stronger balance sheet and free cash flow generation companies over anything else.
Based on transaction prices, the fund's return was -2.56%. The portfolio had another strong month of performance in October, outperforming the benchmark by 33 basis points. The main positive contribution to performance came from the consumer discretionary sector, as we do not own Tesla in the fund. We also had a good contribution from energy, where we own TotalEnergies, as well as from information technology. We have two main laggards: STMicroelectronics in automotive semiconductors, because the semiconductor space has come under pressure as demand weakness and a broad inventory correction starts to weigh on prices. And Grupo Bimbo also had a weak month, as there has been controversy around the water usage of the company in areas of Mexico that have been pressured by draughts, and therefore input costs in terms of wheat prices have been pressuring margins.
Expectation of fund manager
Michiel Plakman CFA
Daniela da Costa
Peter van der Werf
With the macro environment remaining precarious, few business models navigate this relatively unscathed. Rising costs of capital simply result in widening spreads between quality companies and their weaker, more leveraged counterparts. Valuation also provides little support thus far, unless lead indicators clearly bottom out and a proper earnings reset for next year happens. As everyone is looking for a turning point and gauge what the new base level for growth should be, the companies that continue to deliver earnings beats remain our highest-conviction positions in the portfolio. The recent risk-off mood and messy geopolitics clearly hurt equities and bonds alike, but we do not see the market as broken. It is more a recalibration to a higher-for-longer rate world and putting a new multiple on growth, which comes with volatility. And although we are macro aware and share most market concerns, our strategy really is bottom-up oriented, and selectively, we actually see more opportunities arising across the quality spectrum.
- Prospectus change December 2023 (17-11-2023)
- Quarterly report Q3 2023 (30-09-2023)
- Dividend dates (05-09-2023)
- Publication semi-annual reports 2023 (31-08-2023)
- Prospectus change September 2023 (04-08-2023)
- Quarterly report Q2 2023 (30-06-2023)
- Quarterly report Q1 2023 (31-03-2023)
- Publication Semi-annual reports 2022 (31-08-2022)
Past performance is no indication of current or future performance. This is not a buy, sell or hold recommendation for any particular security. No representation is made that these examples are past or current recommendations, that they should be bought or sold, nor whether they were successful or not.
Any opinion or estimate contained in this website is made on a general basis and is not to be relied on by the reader as advice. Robeco reserves the right to make changes and corrections to its opinions expressed here, this website and the associated materials and links at any time, without notice.