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Robeco FinTech X USD

Monetizing the growing digitalization in the financial sector

Contact us

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.

X-USD

D-EUR

D-USD

F-EUR

F-GBP

F-USD

I-EUR

I-USD

X-EUR

X-GBP

XH-CHF

Class and codes

Asset class:

Equities

ISIN:

LU2216804133

Bloomberg:

ROFTXUA LX

Index

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
Switch funds

Fund topics

Overview
Performance & costs
Portfolio
Sustainability
Commentary
Documents
Switch funds

MISSING: fund.detail.tabs.

Key points

  • Invests in stocks of companies all over the world which benefit from the increasing digitization of the financial sector
  • Top-down trend selection and bottom-up stock selection using proprietary valuation models
  • Risk limitation through diversification over multiple trends with different drivers and risk characteristics

About this fund

Robeco FinTech is an actively managed fund that invests in stocks in developed and emerging countries. The selection of these stocks is based on fundamental analysis.The fund's objective is to achieve a better return than the index. Proprietary valuation models are used to select stocks with good earnings prospects and a reasonable valuation and those companies which benefit from the increasing digitization of the financial sector are included. These are individually assessed on the basis of industry trend analysis, in-depth discussions with corporate management, analysts and industry experts.

Key facts

Per 30-04-2023

Total size of fund

$ 519,247,210

Size of share class

$ 41,728,770

Inception date fund

25-08-2020

1-year performance

-10.43%

Dividend paying

No

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

Fund manager

Patrick Lemmens

Patrick Lemmens

Michiel van Voorst CFA

Michiel van Voorst CFA

Koos Burema

Koos Burema

Patrick Lemmens is Lead Portfolio Manager within the Trends Equities team. He has a focus on financials/fintech. Prior to joining Robeco in 2008, he managed the ABN AMRO Financials fund from October 2003 to December 2007. Previously, he held the position of Analyst of Global Financials at ABN AMRO and was Global Sector Coordinator of the Financial Institutions Equities Group at ABN AMRO. Patrick Lemmens started his career in the investment industry in 1993. He holds a Master's in Business Economics from Erasmus University Rotterdam and is a Certified European Financial Analyst. Michiel van Voorst is Co-Portfolio Manager within the Trends Equities team. He has a focus on financials/fintech/next digital billion. In 2019, Michiel rejoined Robeco from Union Bancaire Privée in Hong Kong where he was CIO Asian Equities. Prior to that, Michiel spent 12 years at Robeco in several senior positions including senior portfolio manager Rolinco Global Growth fund and Robeco Asian Stars. Prior to joining Robeco in 2005, Michiel was Portfolio Manager US Equity at PGGM and Economist with Rabobank Netherlands. Michiel started his career in the investment industry in 1996. Michiel van Voorst holds a Master’s in Economics from University of Utrecht and is a CFA® charterholder. Koos Burema is Co-Portfolio Manager within the Trends Equities team. He has a focus on financials/fintech. Koos was an Analyst with the Emerging Markets team covering Korea and technology in Taiwan and Mainland China. Besides this, he was responsible for the integration of ESG in the investment process. Before joining the team in January 2010, he worked as a Portfolio Manager for different sector teams within Robeco. He started his career in the industry in 2007. Koos holds a Master’s in Business Administration from the University of Groningen and is a CFA® charterholder.

Key points
About the fund
Key facts
Fund manager

Performance

Per 30-04-2023
Per period Fund Index

1 month

0.57%

1.44%

3 months 

-4.37%

1.57%

YTD

7.46%

8.85%

1 year

-10.43%

2.06%

2 years

-20.93%

-1.76%

Since inception 08/2020

-8.11%

6.40%

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 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.

0.82%

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.

0.16%

Transaction costs

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

0.22%

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 0.05% 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.

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

Fund allocation

Asset

Currency

Sector

Top 10

  • Asset
  • Currency
  • Sector
  • Top 10
Per 30-04-2023

Policies

  • The fund can engage in currency hedging transactions. Typically currency hedging is not applied.

  • The fund does not distribute dividend. The fund retains any income that is earned, and so its entire performance is reflected in the price.

  • Robeco FinTech is an actively managed fund that invests in stocks in developed and emerging countries. The selection of these stocks is based on fundamental analysis. The fund's objective is to achieve a better return than the index. 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. Proprietary valuation models are used to select stocks with good earnings prospects and a reasonable valuation and those companies which benefit from the increasing digitization of the financial sector are included. These are individually assessed on the basis of industry trend analysis, in-depth discussions with corporate management, analysts and industry experts. The majority of stocks selected will be components of the Benchmark, but stocks outside the Benchmark may be selected too. The investment policy is not constrained by a benchmark but the fund may use a benchmark 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 market weighted index that is not consistent with the ESG characteristics promoted by the fund.

  • Risk management is fully integrated into 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
Voting & Engagement

Sustainability

Per 30-04-2023

The fund incorporates sustainability in the investment process through exclusions, ESG integration, engagement and voting. The fund does not invest 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 existing and potential ESG risks and opportunities. In the stock selection the fund limits exposure to elevated sustainability risks. 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 30-04-2023

Central banks keep on raising rates, while one after the other US bank is failing. Credit Suisse has been rescued and all around the world there are worries about Office CRE. As we get closer to a formal recession, the question is when will central banks stop hiking. For us that would be the time to move more into high-growth stocks with a reasonable valuation. Financial infrastructure has been a tough place to invest in April and YTD. Fears for poor results in banking technology enablers did not pan out, as Q1 results have been okay. In financial management we are seeing the rise of non-traditional players like Apple, Amazon and Google. The EU voted in large numbers in favor of the Markets in Crypto Assets (MiCA) legislation, which establishes rules for crypto-asset issuers and service providers, DeFi, and market abuse. Outside the US and Europe, we observe continuous regulatory developments. In our view, this implies that activity, capital and innovation will shift away from the US.

Performance explanation

Per 30-04-2023

Based on transaction prices, the fund's return was 0.57%. April was a very difficult month, in which financials as well as (fin)tech stocks struggled, which led to an underperformance. The payments segment was the one clear positive standout. Partly because of the bid on one of our holdings, Network International, and partly thanks to solid performance from our investments in Latin American payments companies. The largest performance differences on a GICS industry level were seen, with positive contributions coming from IT services (StoneCo, Network International), banks (The Bancorp, NU Holdings) and consumer finance (Bajaj Finance, Kaspi). Software (Qualys, Blackline), interactive media & services (Tencent) and capital markets (MSCI, TradeWeb) were the worst relative industry contributors to performance during April.

Expectation of fund manager

Patrick Lemmens

Patrick Lemmens

Michiel van Voorst CFA

Michiel van Voorst CFA

Koos Burema

Koos Burema

There has been a significant valuation reset. We still see solid growth potential across the fintech investment universe. Though there is a significantly larger focus on the ability to generate cash and profitability. Payments should continue to outgrow nominal GDP, especially digital payments, as e-commerce grows faster with continued higher adoption rates. Data analytics has been a growing part of the fintech investment universe. The (December 2022) announced deal between Microsoft and LSE Group underscores the importance of DA. Enhancing financial inclusion remains a very important raison d'etre (reason for existence) for fintech. In addition, we notice increasing importance of B2B business models in especially international / cross-border payments as well as in digital assets applications focused on wholesale business models. After a tough start of the year, we believe that fintech offers great long-term growth opportunities at much lower valuation multiples.

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 2022
  • Annual report 2021
  • Annual report 2020
  • 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.

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