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Robeco Asian Stars Equities E EUR

Reference index: MSCI AC Asia ex Japan Index (Net Return, EUR)
ISIN: LU1143725288
  • Flexible and dynamic investing
  • Targets the most attractive Asian markets
  • Concentrated portfolio of 30 and 40 stocks
Assets class
Current price ()
Performance YTD ()
Currency EUR
Total size of fund ()
Dividend payingYes

About this fund

Robeco Asian Stars Equities invests in stocks of the most attractive companies in Asia. The selection of these stocks is based on fundamental analysis. The fund's focus is on the high-growth developing countries in the region. The fund focuses on stock selection and has a concentrated portfolio.

Performance

No performance data available

Performance

Robeco Asian Stars Equities E EUR

Performance

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Statistics

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Dividend paying history

Date Amount
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Market development

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Asian markets fell 1.5% in August, underperforming the global index by 2%. A modest outperformance in the Philippines (+1.9%), Thailand (+1.3%) and Korea (+0.9%) was offset by a pullback in China (-3.9%), Singapore (-2.9%) and Hong Kong (-2.6%). Despite upbeat US economic data and a strong corporate earnings season, markets remained range-bound as investor sentiment was depressed by the escalation in trade tensions, sharp sell-off in Turkish assets and emerging market currency weakness. Value outperformed growth in Asia this month, driven by earnings disappointments and regulatory uncertainty at Tencent. For all countries, Asian 2018/19 earnings have been revised down by 0.5%/0.6%, respectively over August. India, Indonesia and the Philippines saw the highest downward revisions. Fear of contagion continued to spread, affecting most Asian currencies in August.

Fund Classification

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

Fund allocation

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Name Sector Weight
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Currency policy

The fund is allowed to pursue an active currency policy to generate extra returns.

Dividend policy

The fund distributes a dividend on an annual basis.

ESG Integration policy

For Robeco Asian Stars Equities, our focus regarding ESG integration is on corporate governance and in our fundamental assessment of companies we analyze the factor 'management and corporate governance'. We look at the historical behavior of the company vis-a-vis the protection of minority-shareholder interests. Also we investigate the composition of the board and appreciate a higher content of truly independent board members. Finally, we will assess the quality of the audit committee as it is a first protection against fraud. In the quantitative ranking that we use, one of the factors is the RobecoSAM Company score.

Investment policy

Robeco Asian Stars: Invest in Asia's best. The focus is on the most attractive investments in an exciting growth region. The fund leverages on Robeco's local resources in China and India. The fund will have a high-conviction, high-alpha portfolio with around 30-60 stocks. This Sub-fund may invest in China A-shares via the QFII and/or a Stock Connect Programme which may entail additional clearing and settlement, regulatory, operational and counterparty risks.

Risk policy

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

Expectation of fund manager

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Asian markets have lagged global markets this year due to fears of a trade war and US dollar strength. We have seen these fears reflected in earnings estimates coming down recently. We believe these fears are overdone and see good bottom-up opportunities. The only real worry should be rising inflation and interest rates. This could slow down regional growth and result in fund flows out of the region. China’s economy is showing signs of weakening and the government has started monetary loosening. Korea is a good market for patient value investors, especially now that chaebol show positive changes under government pressure. The regional earnings outlook, though having come down recently, still remains healthy on absolute basis (8% for 2018). We continue to focus on bottom-up stock picking and on companies with solid cash flow generation trading at a good price. The fund's portfolio (47 stocks) is good value at 11.0x forward earnings, 6.1x cash flow, 1.1x book and 2.9% dividend yield.

Arnout van Rijn
Arnout van Rijn

Arnout van Rijn

Mr. van Rijn is CIO Asia-Pacific, Co-Head of the Asia-Pacific team and Lead Portfolio Manager of Robeco Asia-Pacific Equities. From 2003 to 2007 he was the Lead Portfolio Manager of Rolinco, one of Robeco's flagship equity products. Before that Arnout held several positions within the Robeco Equity department covering European, Asian and American markets. From its inception in 1994 until 2000, he was Portfolio Manager of Robeco's Emerging Markets Equities fund. From 2000 to 2002, Arnout worked in Hong Kong as head of the Fund Desk at Rabo Investment Management. He started his career in the investment industry in 1990. Arnout van Rijn holds a Master's degree in Business Economics from Erasmus University Rotterdam.

Details

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Management companyRobeco Luxembourg S.A.
Fund capital
Outstanding shares
ISINLU1143725288
BloombergRASSEEE LX
Valoren26162799
WKN
AvailabilityBE, IT, LU, SG, CH
1st quotation date1416960000000
Close financial year31-12
Legal statusInvestment company with variable capital incorporated under Luxembourg law (SICAV)
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 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.

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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