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Robeco BP US Premium Equities YH EUR

US all-cap value approach with focus on 'characteristics that work': Valuation, Fundamentals and Momentum

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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.

YH-EUR

D-EUR

D-USD

DH-EUR

E-USD

EH-GBP

F-EUR

F-USD

FH-CHF

FH-EUR

G-GBP

G-USD

GH-GBP

I-EUR

I-USD

IB-USD

IE-GBP

IEH-EUR

IH-EUR

IH-GBP

K-USD

KE-USD

X-USD

XH-EUR

Y-USD

YH-CHF

Class and codes

Asset class:

Equities

ISIN:

LU2216803671

Bloomberg:

ROBPUYH LX

Index

Russell 3000 Value Index (Gross Total Return, hedged into EUR)

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
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Fund topics

Overview
Performance & costs
Portfolio
Sustainability
Commentary
Documents
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MISSING: fund.detail.tabs.

Key points

  • All cap value fund.
  • Selects the best investment candidate available irrespective of its market cap
  • Bottom-up fundamental research investment discipline.

About this fund

Robeco BP US Premium Equities is an actively managed fund that invests in stocks in the United States. The selection of these stocks is based on fundamental analysis. The fund's objective is to achieve a better return than the index. The portfolio is consistently built from the bottom up, to exhibit attractive valuation, strong business fundamentals and improving business momentum. These companies can be large-caps, mid-caps or small-caps.

Key facts

Per 28-02-2023

Total size of fund

€ 6,041,357,883

Size of share class

€ 34,444,351

Inception date fund

25-08-2020

1-year performance

-2.66%

Dividend paying

No

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

Fund manager

Duilio R. Ramallo CFA

Mr. Ramallo is the senior portfolio manager for Boston Partners Premium Equity product.  Previously, Mr. Ramallo was the assistant portfolio manager for the Small Cap Value products.  Prior to his portfolio management role, Mr. Ramallo was a research analyst for Boston Partners.  He joined the firm from Deloitte & Touche L.L.P., where he spent three years, most recently in their Los Angeles office.  Mr. Ramallo holds a B.A. degree in economics/business from the University of California at Los Angeles and an M.B.A. from the Anderson Graduate School of Management at UCLA.  He holds the Chartered Financial Analyst® designation.  He is also a Certified Public Accountant (inactive).  He has twenty years of investment experience.

Key points
About the fund
Key facts
Fund manager

Performance

Per 28-02-2023
Per period Fund Index

1 month

-2.63%

-3.72%

3 months 

-2.39%

-3.06%

YTD

1.93%

1.22%

1 year

-2.66%

-5.85%

2 years

6.04%

3.33%

Since inception 08/2020

13.58%

10.39%

The value of the investments may fluctuate. Past performance is no guarantee of future results.
Annualized (for periods longer than one year).
Performances are net of fees and based on transaction prices.

Costs

Per 28-02-2023
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.

0.73%

Included management fee

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

0.60%

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.

0.33%

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.

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

Fund allocation

Asset

Country

Currency

Sector

Top 10

  • Asset
  • Country
  • Currency
  • Sector
  • Top 10

Policies

  • Investments are predominantly made in securities denominated in US dollars. The fund is denominated in euros. Derivatives are used to hedge currency to the euro.

  • No dividend is distributed. All returns are reinvested and translated into price gains.

  • Robeco BP US Premium Equities is an actively managed fund that invests across market capitalizations and sectors in a flexible manner. The selection of these stocks is based on fundamental analysis. The portfolio is consistently built from the bottom up to exhibit attractive valuation, strong business fundamentals and improving business momentum. 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, proxy voting and engagement. Investments are predominantly made in securities denominated in US dollars. The fund is denominated in euros. The majority of stocks selected will be components of the benchmark, but stocks outside the benchmark may be selected too. While the investment policy is not constrained by a benchmark, the fund may use one for comparison purposes. The fund can deviate substantially from the issuer, country and sector weightings of the benchmark. There are no restrictions on the deviation from the benchmark. The benchmark is a broad marketweighted index that is not consistent with the ESG characteristics promoted by the fund.

  • Risk management is fully integrated 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 28-02-2023
Exclusions
ESG Integration
Voting & Engagement

Sustainability

Per 28-02-2023

The fund incorporates sustainability in the investment process via exclusions, ESG integration, a carbon target, engagement and voting. Through exclusions the fund avoids investments in 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 investment analysis to assess the sustainability risk profile of companies. In the stock selection the fund limits exposure to elevated sustainability risks. The fund also targets a lower carbon footprint compared to the reference index. In addition, where a stock issuer is flagged for breaching international standards in the ongoing monitoring, the issuer will become subject to engagement. Lastly, the fund makes use of shareholder rights and applies proxy voting in accordance with Robeco's proxy voting policy.

Information
Profile
Sustainability

Market development

Per 28-02-2023

Markets in the United States as measured by the S&P 500 Index declined -2.4% in the second month of 2023. While all styles of US indices were lower, the growth segment of the market outperformed its value counterpart. US Large Cap Value fared the worst, falling -3.5%, as measured by the Russell 1000 Value Index.

Performance explanation

Per 28-02-2023

Based on transaction prices, the fund's return was -2.63%. Robeco BP US Premium Equities outperformed the Russell 3000 Value Index in February. Stock selection drove relative results in the month, with positive effects in 7 of 9 invested sectors. There were four areas which contributed meaningfully, led by industrials. Wesco International was up 11%, battery business EnerSys rose 9%, Copart improved by 6%, Landstar gained nearly 5% and Science Applications traded higher by 3%, to summarize a group of holdings that added value over the month. The next largest impact came from healthcare, one of the worst sectors on a monthly absolute basis, but several fund holdings shined, with AbbVie and Avantor notching positive results. Stock picking in consumer discretionary and technology also added value, where fund holdings AutoZone, Booking Holdings, Tempur Sealy and Harley Davidson and positions in the semiconductor space outpaced the market, as did individual holdings Jabil and FLEETCOR Technologies. Sector allocation had a minimal impact in February, with every sector negative between 0.8% and 6.0%.

Expectation of fund manager

Duilio R. Ramallo CFA

Higher rates due to elevated inflation, heightened geopolitical risk and lower margin/earnings expectations do not seem all that conducive to a rip-roaring stock market. Growth continues to lead value, driven by a late 2010s style favoritism for the top stocks in the growth index. The fund remains well positioned with holdings that reflect Boston Partners' three-circle characteristics – attractive valuations, solid business fundamentals and identifiable catalysts.

Market development
Performance explanation
Expectation of fund manager

Fund documents

  • Factsheet
  • Product sheet
  • Portfolio Manager's Update
  • Prospectus
  • Articles of association
  • Key Investor Information (KIID)
  • Full sustainability-related disclosures
  • Summary sustainability-related disclosures

(Semi) annual reports

  • Annual report 2021
  • Annual report 2020
  • Annual report 2019
  • Semi-annual report 2022
  • Semi-annual report 2021
  • Semi-annual report 2020

Announcements

  • Publication Semi-annual reports 2022 (31-08-2022)
  • Semi-annual 2021 available (31-08-2021)
Fund documents
Reports
Announcements

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Important information This disclaimer applies to any documents and the verbal or written comments of any person in presentations or webinars on this website and taken together is referred to herein as the “Information”. The services to which the Information relate are NOT FOR RETAIL CLIENTS - The information contained in the Website is solely intended for professional investors, defined as investors which (1) qualify as professional clients within the meaning of the Markets in Financial Instruments Directive (MiFID), (2) have requested to be treated as professional clients within the meaning of the MiFID or (3) are authorized to receive such information under any other applicable laws and must not be relied or acted upon by any other persons. This Information does not constitute an offer to sell, or a solicitation of an offer to buy, any financial product, and may not be relied upon in connection with the purchase or sale of any financial product. You are cautioned against using this Information as the basis for making a decision to purchase any financial product. To the extent that you rely on the Information in connection with any investment decision, you do so at your own risk. The Information does not purport to be complete on any topic addressed. The Information may contain data or analysis prepared by third parties and no representation or warranty about the accuracy of such data or analysis is provided.

In all cases where historical performance is presented, please note that past performance is not a reliable indicator of future results and should not be relied upon as the basis for making an investment decision. Investors may not get back the amount originally invested. Neither Robeco Institutional Asset Management B.V. nor any of its affiliates guarantees the performance or the future returns of any investments. If the currency in which the past performance is displayed differs from the currency of the country in which you reside, then you should be aware that due to exchange rate fluctuations the performance shown may increase or decrease if converted into your local currency. Robeco Institutional Asset Management B.V. (“Robeco”) expressly prohibits any redistribution of the Information without the prior written consent of Robeco. The Information is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use is contrary to law, rule or regulation. Certain information contained in the Information includes calculations or figures that have been prepared internally and have not been audited or verified by a third party. Use of different methods for preparing, calculating or presenting information may lead to different results. Robeco Institutional Asset Management B.V. is authorised as a manager of UCITS and AIFs by the Netherlands Authority for the Financial Markets and subject to limited regulation in the UK by the Financial Conduct Authority. Details about the extent of our regulation by the Financial Conduct Authority are available from us on request.