Robeco Global Multi-Thematic D2 USD

Capturing growth from powerful megatrends

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.

Class and codes

Asset class
Equities
ISIN
LU2947880931
Bloomberg
RCGMD2U LX

Asset class

Equities

ISIN

LU2947880931

Bloomberg

RCGMD2U LX

Benchmark

MSCI All Country World Index (Net Return, USD)

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

Key points

Efficiently monetize megatrends to discover tomorrow’s champions and today’s enablers
A turnkey solution offering access to the best of Robeco’s entire range of thematic equities
Carefully calibrated exposure to seize promising upside potential while minimizing downside risks

About this fund

Robeco Global Multi-Thematic is an actively managed fund that invests worldwide in equities from developed and emerging countries. The selection of stocks is based on fundamental analysis. The strategy’s objective is to achieve a better return than the MSCI ACWI Index. The fund invests in companies incorporating or exercising a major part of their economic activities in identified themes. These include transforming technologies, changing sociodemographic, and preserving earth. This is achieved by investing in firms that are well positioned to benefit from structural changes in the economy as well as companies contributing to solving nature-based problems, fulfilling basic societal needs and addressing inefficiencies.

Key facts

Per 31-12-2025

Total size of fund	USD 63,721,926
Size of share class	USD 28,486
Inception date share class	17-12-2024
1-year performance	13.12%
Dividend paying	No

Fund manager

Dora Buckulčíková
Marco van Lent
Steef Bergakker

Dora Buckulcikova is Lead Portfolio Manager of Robeco Fashion Engagement (2023), Portfolio Manager of Robeco Global Multi-Thematic (2024), Rolinco (2022) and member of the Thematic Investing Team. She joined Robeco in 2021. Dora holds experience as a buy-side research analyst and investment manager with Baillie Gifford for 6 years. Previously, she was a research consultant for a UK-based global impact fund, providing long-term fundamental and sustainability-focused investment research. Dora is a CFA® Charterholder and obtained her Master of Arts in Economics and Chinese from the University of Edinburgh. Marco van Lent is Portfolio Manager Robeco Global Multi-Thematic (2024), Rolinco (2013), Portfolio Manager Robeco Digital Innovations (2017) and member of the Thematic Investing team. Before 2013, he managed Robeco Infrastructure Equities. Marco joined Robeco in October 2007 to co-manage two European equity funds. He worked at Van Lanschot Asset Management to manage the Van Lanschot European Equity Fund. After the acquisition of Kempen Capital Management by Van Lanschot, he worked at Kempen Capital Management for six months to manage European equity mandates. He was Portfolio Manager European equities at Philips Investment Management in the period 1999-2005 and in the period 1996-1999 he was Portfolio Manager at Van Spaendonck Asset Management. He started his investment career in 1985 as a sell-side analyst/strategist. Marco holds a Master's in Business Economics and Finance from Tilburg University. Steef Bergakker is Portfolio Manager Robeco Global Multi-Thematic (2024), Rolinco (2020), Portfolio Manager Robeco Digital Innovations (2019) and member of the Thematic Investing team. Previously, he was trends researcher and has authored several white papers. Before that, Steef was portfolio manager of Robeco Infrastructure Equities and Robeco Hollands Bezit. Prior to rejoining Robeco in 2008, Steef held different functions at IRIS (Institute for Research and Investment Services), the former research joint venture of Robeco and Rabobank. From 1998 through 2008 he served as head of IRIS Equity Research, and before that he worked as equity analyst for eight years. Steef started his career in the investment industry at Robeco in 1990 as an analyst. He holds a Master's in Monetary Economics and Finance and Investments from Erasmus University Rotterdam.

Per period	Fund	Benchmark
1 month	-0.27%	1.04%
3 months	0.87%	3.29%
YTD	13.12%	22.34%
1 year	13.12%	22.34%
Since inception 17-12-2024	8.38%	18.36%

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.	1.96%
Included management fee A fee paid by the fund to the asset management company for the professional management of the fund.	1.75%
Included service fee This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.	0.16%

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 0.05% 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

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.

Market development

Per 31-12-2025

Global equities ended 2025 largely flat, losing the strong momentum seen earlier in the year. Markets opened December in a risk-off mood, as Bitcoin fell sharply following warnings from China's central bank about speculation in crypto markets. Japanese equities also weakened after the Bank of Japan signaled a potential December rate hike. Sentiment gradually stabilized, supported by the US Federal Reserve delivering the expected 25 bps rate cut, bringing the Fed funds rate to 3.75%. A short-lived pullback in AI-linked stocks occurred after Oracle highlighted slower cloud revenue conversion and delays to OpenAI data centers, prompting some derisking in the broader AI segment before markets recovered toward the holiday period. For the month, the MSCI All Countries World Index remained more or less flat, masking regional differences: The Eurozone and emerging markets gained, while the US and Japan were flat but faced currency headwinds. South Korea stood out with a gain on semiconductor optimism, while India and Hong Kong lagged slightly.

Performance explanation

Per 31-12-2025

Based on transaction prices, the fund's return was -0.27%. Only the Transforming Technologies theme delivered a positive monthly result, outperforming the MSCI ACWI, while the other two themes lagged. Within Transforming Technologies, Salesforce (+13.7%) and Accenture (+6%) lifted performance following strong quarterly results. Coinbase (-18%) was the weakest name due to the Bitcoin drop, while several mega-cap tech stocks saw mixed returns. Changing Sociodemographics (-2.9%) performed worst, hurt by declines in Daiichi Sankyo (-14.8%), EssilorLuxottica (-12.6%), and Sony, despite some positive catalysts. Airbnb (+14.6%) and newly added Standard Chartered (+9.6%) were bright spots. Preserving Earth fell -2.05%, as strong gains from Ashtead (+5.7%), Infineon (+4%), and Weir Group (+3%) could not offset larger declines. US names such as Quanta Services (-10.3%), TopBuild (-8.9%), and solar-related stocks also pressured returns.

Expectation of fund manager

Dora Buckulčíková
Marco van Lent
Steef Bergakker

Financial markets are being reshaped by powerful secular forces that will define investment opportunities for years to come. We see three overarching drivers – Transforming Technologies, Changing Sociodemographics, and Preserving Earth – acting as structural engines of change. These trends unfold against a backdrop of geopolitical uncertainty, where cybersecurity and strategic resilience have become critical. Reshoring, supply-chain security, and safeguarding digital infrastructure are accelerating innovation across AI, automation, healthcare, clean energy, and security. For long-term investors, understanding these shifts and identifying business models best positioned to benefit is essential. Below, we outline seven established growth drivers and highlight emerging themes for 2026.

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.

Robeco Global Multi-Thematic D2 USD

Capturing growth from powerful megatrends

Key points

About this fund

Key facts

Fund manager

Performance

Costs

Fiscal product treatment

Fiscal treatment of investor

Fund allocation

Policies

Sustainability

Market development

Performance explanation

Expectation of fund manager

Fund documents

Annual and Semi-Annual Reports

Announcements

Important information

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