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Robeco Sustainable Asian Bonds I USD

Active investing in Asian corporate and government bonds using our SDG framework for real-world impact

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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.

I-USD

BX-USD

D-USD

DH-EUR

F-USD

FH-EUR

IH-EUR

Class and codes

Asset class:

Bonds

ISIN:

LU2465793342

Bloomberg:

RSSAIUS LX

Index

JP Morgan Asia Credit Index

Sustainability-related information

Sustainability-related information

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.

Article 8

  • Overview
  • Performance & costs
  • Portfolio
  • Sustainability
  • Commentary
  • Documents
Switch funds

Fund topics

Overview
Performance & costs
Portfolio
Sustainability
Commentary
Documents
Switch funds

MISSING: fund.detail.tabs.

Key points

  • Providing long-term capital growth and optimizing yield & income.
  • Sustainable investing in Asian credits and government debt.
  • Proprietary SDG framework applied to select sustainable business models that facilitate the transition and create real-world impact.

About this fund

Robeco Sustainable Asian Bonds is an actively managed fund that invests in corporate and government bonds in Asia. The selection of these bonds is based on fundamental analysis. The fund's objective is to achieve a better return than the index. The fund invests at least two-thirds of its total assets in bonds (which may include contingent convertible bonds (also "coco" bonds)) and similar fixed income securities and asset backed securities issued by entities incorporated or exercising a preponderant part of their economic activities in Asia.

Key facts

Per 30-04-2023

Total size of fund

$ 10,436,899

Size of share class

$ 26,226

Inception date fund

17-05-2022

Dividend paying

No

The value of the investments may fluctuate. Past performance is no guarantee of future results.

Fund manager

Thu Ha Chow

Reinout Schapers

Based in Singapore, Thu Ha Chow is Head of Fixed Income Asia and Portfolio Manager with a focus on Asian credits. Prior to joining Robeco in 2022, she was Portfolio Manager and Asia Strategist at Loomis Sayles & Co and Head of Asian Credit at Aberdeen Asset Management, both in Singapore. Previously Thu Ha worked for 15 years in London where she held senior fixed income positions at Deutsche Asset Management and Threadneedle Asset Management in addition to 3 years in investment banking at Credit Suisse First Boston. She started her career in 1998 after obtaining a Master’s in Economics and Philosophy from London School of Economics. Reinout Schapers is Co-Head Portfolio Management Investment Grade in the Credit team. Prior to joining Robeco in 2011, Reinout worked at Aegon Asset Management where he was a Head of European High Yield. Before that, he worked at Rabo Securities as an M&A Associate and at Credit Suisse First Boston as an Analyst Corporate Finance. Reinout has been active in the industry since 2003. He holds a Master's in Architecture from the Delft University of Technology.

Key points
About the fund
Key facts
Fund manager

Current MIFID legislation prevents us from reporting performance data for funds with less than a 12 month track record.

Statistics

Characteristics Fund Index

Rating

The average credit quality of the securities in the portfolio. AAA, AA, A en BAA (Investment Grade) means lower risk and BB, B, CCC, CC, C (High Yield) higher risk.

A2/A3

BAA1/BAA2

Option Adjusted Modified Duration (years)

The interest rate sensitivity of the portfolio.

4.40

4.50

Maturity (years)

The average maturity of the securities in the portfolio.

6.00

7.00

Yield to Worst (%)

The average yield of the securities in the portfolio (lowest yield to either call date or redemption date).

5.80

6.70

Green Bonds (%)

The percentage of total AuM in the portfolio (market-weight based) that is indicated as Green Bond in Bloomberg. Green bonds are any type of regular bond instrument for which the proceeds will be applied exclusively to environmental projects.

19.10

8.20

Above mentioned ratios are based on gross of fees returns.

Costs

Per 30-04-2023
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.

0.63%

Included management fee

A fee paid by the fund to the asset management company for the professional management of the fund.

0.50%

Included service fee

This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.

0.12%

Transaction costs

The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.

0.50%

MISSING: fund.detail.tabs.performance-costs.costs.disclaimer

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.

Price development
Statistics
Cost of this fund
Fiscal: product
Fiscal: investor

Fund allocation

Currency

Duration

Rating

Sector

Subordination

Top 10

  • Currency
  • Duration
  • Rating
  • Sector
  • Subordination
  • Top 10
Per 30-04-2023
Currently, the fund invests in hard-currency bonds only. In addition to USD-denominated bonds, the fund regularly holds EUR-denominated bonds, of which the currency exposure is hedged back to the US dollar, the fund's base currency.

Policies

  • This share class of the fund does not distribute dividend.

  • Robeco Sustainable Asian Bonds is an actively managed fund that invests in corporate and government bonds in Asia. The selection of these bonds is based on fundamental analysis. The fund's objective is to achieve a better return than the index. The fund invests at least two-thirds of its total assets in bonds (which may include contingent convertible bonds (also "coco" bonds)) and similar fixed income securities and asset backed securities issued by entities incorporated or exercising a preponderant part of their economic activities in Asia.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.

  • Risk management is fully embedded in the investment process to ensure that positions always meet predefined guidelines.

Fund allocation
Policies

Sustainability-related disclosures

Full sustainability-related disclosures
Download full report
Summary sustainability-related disclosures
Download summary

Sustainability profile

Per 30-04-2023
Exclusions +
ESG Integration

Sustainability

Per 30-04-2023

Sustainability is incorporated in the investment process by the means of a target universe, exclusions, ESG integration, and a minimum allocation to ESG-labeled bonds. The fund invests in credits issued by companies with a positive, neutral or low negative impact on the SDGs. The exposure to credits issued by companies with a low negative impact is at max 20% and the average SDG score of the fund must be greater than zero. The impact of issuers on the SDGs is determined by applying Robeco's internally developed three-step SDG Framework. The outcome is quantified with a proprietary SDG score methodology, considering both the contribution to the SDGs (positive, neutral or negative) and the extent of this contribution (high, medium or low). In addition, the fund does not invest in credit 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 security analysis to assess the impact on the issuer's fundamental credit quality. Furthermore, the fund invests at least 5% in green, social, sustainable, and/or sustainability-linked bonds. Lastly, where a credit issuer is flagged for breaching international standards in the ongoing monitoring, the issuer will become subject to exclusion.

Information
Profile
Sustainability

Market development

Per 30-04-2023

Asian Credit's return was 0.89%. Positive total returns were driven by falling Treasury yields and tighter spreads in investment grade. Volatility came down in April, after an eventful month of March, but markets still struggled to find a clear direction. Recession fears are still present for developed markets and investors also worry about sticky inflation. In many emerging markets, this inflation pressure is more absent and this could give central banks room to start lowering rates ahead of their developed market peers. Within emerging markets, Asia remains relatively strong and the new issue market remains open, although largely for high grade issuers. A remarkable debutant was Pertamina Geothermal Energy with a 5-year green bond. This subsidiary of Pertamina is an important part of the group's decarbonization strategy.

Expectation of fund manager

Thu Ha Chow

Reinout Schapers

We expect a recession in the US and Europe could start towards the end of the year, caused by a fast and aggressive central bank hiking cycle. The Federal Reserve is likely to have finished hiking rates and could be set to pause for a longer period than markets expect. Recent events in the banking sector will lead to a further tightening of lending standards. Concerns are about US interest-sensitive and leveraged asset classes like leveraged loans and commercial real estate, especially offices. The reopening of China post-Covid 19 is progressing faster than anticipated, but is more beneficial to the domestic services sector and the Asian region than to the global economy. Also China's outbound international tourism has not returned to pre-pandemic levels. Within this environment, we prefer higher-quality credit as it should be more resilient to a global economic downturn.

Market development
Expectation of fund manager

Fund documents

  • Factsheet
  • Prospectus
  • Articles of association
  • Full sustainability-related disclosures
  • Summary sustainability-related disclosures

(Semi) annual reports

  • Annual report 2022
  • Annual report 2021
  • Annual report 2020
  • Semi-annual report 2022
  • Semi-annual report 2021
  • Semi-annual report 2020

Announcements

  • Dividend dates January 2023 (21-12-2022)
  • Publication Semi-annual reports 2022 (31-08-2022)
Fund documents
Reports
Announcements

Important information

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.

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Investment involves risks. Past performance is not indicative of future performance. This information is for informational purposes only and should not be construed as an offer to sell or an invitation to buy any securities or products, nor as investment advice or recommendation. The contents of this document have not been reviewed by the Monetary Authority of Singapore (“MAS”). Robeco Singapore Private Limited holds a capital markets services licence for fund management issued by the MAS and is subject to certain clientele restrictions under such licence. An investment will involve a high degree of risk, and you should consider carefully whether an investment is suitable for you.