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Inst Liability Driven Euro Full Discretion 40 Fund

Index: Customized benchmark
ISIN: NL0000101228
  • Robeco has extensive experience in this type of overlay management and is a solid party with deep knowledge of the Dutch pension market. Robeco acts as sparring partner in the translation of Asset & Liability Matching studies towards a strategic investment portfolio.
  • Implementation of the chosen interest overlay strategy is done by state-of-the-art systems with a strong focus on operational and financial risk management.
  • Robeco offers liability matching tools in the form of stand-alone overlay management, in fund solutions and as hedged share class overlays.
Assets class
Current price ()
Performance YTD ()
Currency EUR
Total size of fund ()
Dividend payingYes

About this fund

The fund offers pension funds a solution for reducing the duration mismatch between the investment portfolio (assets) and the pension liabilities. The fund generates additional return by investing in the actively-managed Robeco All Strategy Euro Bonds fund.

Price development

No performance data available

Price development

Inst Liability Driven Euro Full Discretion 40 Fund

Performance

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Fund Reference index
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The value of the investments may fluctuate. Past performance is no guarantee of future results.
Annualized (for periods longer than one year).
Cumulized (total amount of return).
Performances are gross of fees and based on closing values. In reality, costs (such as management fees and other costs) are charged. These have a negative effect on the returns shown.

Performances are net of fees and based on transaction prices.
Fund Reference index
The value of the investments may fluctuate. Past performance is no guarantee of future results.
Annualized (for periods longer than one year).
Cumulized (total amount of return).
Performances are gross of fees and based on closing values. In reality, costs (such as management fees and other costs) are charged. These have a negative effect on the returns shown.

Performances are net of fees and based on transaction prices.

Statistics

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3 years 5 years
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Above mentioned ratios are based on gross of fees returns
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Above mentioned ratios are based on gross of fees returns
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Dividend paying history

Date Amount
Download dividend history

Fund allocation

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Name Sector Weight
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Fund Classification

YesNoN/A 
Voting
Engagement
ESG integration
Exclusion
YesNoN/A 
Screening
Integration
Sustainability Themed Fund

Currency policy

Currency risks are fully hedged into euros

Dividend policy

The fund does not distribute dividend. The income earned by the fund is reflected in its share price. The fund's entire result is thus reflected in its share price development.

ESG Integration policy

n/a

Investment policy

The fund offers pension funds a solution for reducing the duration mismatch between the investment portfolio (assets) and the pension liabilities by investing in a combination of interest rate swaps and the actively managemed Robeco All-Strategy Euro Bonds fund. The swaps in the portfolio should, as far as possible, properly reflect the pension-liability structure of the average pension fund. This is evaluated every year. The fund manager will, in principle, rebalance the swaps each month. This is performed in one of three ways: 1) Cancel existing swaps and conclude new swaps; 2) Conclude new swaps in such a way that the duration allocation comes back into line with the benchmark, in combination with existing swaps; 3) Use of futuresThe portfolio manager makes an optimal selection based on the above choices. The interests of the participants in the fund are the main priority. The fund will only conclude swaps with counterparties using ISDA contracts and associated credit-support annexes (CSAs). The Fund can therefore be used to significantly reduce the funding-level risk of your pension fund as a result of interest-rate fluctuations. The Fund can lead to a lower capital requirement, on account of the high 40-year duration and the additional (alpha) return on the investments in the underlying fund. As a result, a pension fund has more room to invest in higher-yielding fixed-asset investments for the indexation requirement.

Risk policy

Risk management is fully integrated into the investment process to ensure that positions always meet predefined guidelines.

Remmert Koekkoek
Remmert Koekkoek

Remmert Koekkoek

Mr. Remmert Koekkoek is Senior Portfolio Manager in the Structured Investment team since November 2011. Remmert is portfolio manager of the Robeco Pension Matching Portfolio since April 2014. He started his career in the industry in 2004 at ING Risk Management. Between 2005 and 2010 Remmert also worked in Robeco's Structured Investment team as a Trader. In 2010 he moved to Credit Suisse where he was responsible for derivative overlay investment solutions for Dutch pension funds and insurance companies. Remmert holds a Master's degree (cum laude) in Econometrics from the Erasmus University Rotterdam.

Details

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Management company
Fund capital
Outstanding shares
ISINNL0000101228
BloombergRILDF40 NA
Valoren
WKNA0J24Y
Availability
1st quotation date1138752000000
Close financial year31-12
Legal status
Tracking error limit (%)
Morningstar
Reference index

Cost of this fund

Ongoing charges

This fund deducts ongoing charges of
These charges comprise
Management fee
Service fee

Transaction costs

The expected transaction costs are

Performance fee

This fund may also deduct a performance fee of

Extra fees

max entry fee
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Fiscal product treatment

The fund is established in the Netherlands. The fund is closed for corporate-income tax purposes (fiscally transparent). This means that all results are attributed directly to the participants. As a consequence, the fund is not liable to corporate-income tax and withholds no dividend tax.

Fiscal treatment of investor

Professional investors are divided into pension funds and non-pension funds. Dutch pension funds may re-claim the 25% dividend tax deducted on cash dividends entirely. Dutch non-pension funds may deduct the 25% dividend tax deducted on cash dividends in their corporate income tax assessment. Dividend tax in that case is tax deducted at source. No tax is deducted at source on interest income. Thus, Dutch pension funds do not owe taxes on interest income. Dutch non-pension funds should specify interest income in their corporate income tax assessment.

Disclaimer

The information contained in the website is solely intended for professional investors. Some funds shown on this website fall outside the scope of the Dutch Act on the Financial Supervision (Wet op het financieel toezicht) and therefore do not (need to) have a license from the Authority for the Financial Markets (AFM).

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