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Robeco BP US Select Opportunities Equities I EUR

Index: Russell Mid Cap Value index (Gross Total Return, EUR)
ISIN: LU0975848853
  • Mid-cap value fund
  • Selects the best investment candidate with a market capitalization of USD 750 million or more.
  • Investment discipline based on bottom-up fundamental research
Asset class
Current price ()
Performance YTD ()
Currency EUR
Total size of fund ()
Dividend payingNo

About this fund

Robeco BP US Select Opportunities Equities is an actively managed fund that invests in midcap stocks in the United States. The selection of these stocks is based on fundamental analysis. The fund is primarily composed of stocks with a market capitalization of more than USD 750 million. Its bottom-up stock-selection process seeks to find undervalued stocks and is guided by a disciplined value approach, intensive internal research and risk aversion.

Price development

No performance data available

Price development

Robeco BP US Select Opportunities Equities I EUR

Performance

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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.

Performance explanation

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Based on transaction prices, the fund's return was 4.65%. Robeco BP US Select Opportunities trailed the Russell Mid Cap Value Index in October, with stock selection detracting, while sector allocation contributed to the relative performance. Stock picking in financials and technology were the main detractors. Within finance, credit card companies Discover, Capital One and Synchrony underperformed, as investors became concerned about marketing spend and slowing loan loss reserve releases. We are encouraged that loan growth is beginning to accelerate. Regional banks Fifth Third and Huntington Bancshares also lagged, as the yield curve flattened. In technology, semiconductors Qorvo, NXP and Western Digital lagged, as supply chain issues in handsets and autos have caused near-term weakness, while Global Payments underperformed, as competitor Fiserve announced a disappointing quarter. Stock picking was strong in energy, healthcare and communication services during the month. From a sector allocation perspective, most value was added by the fund's underweight exposure to communication services and consumer staples, and overweight exposure to energy.

Statistics

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Market development

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US equities were back in positive territory in October, as the growth and core indices outperformed their value counterparts. The S&P 500 returned an impressive 7% for the month, only bettered by the Russell 1000 Growth Index, which climbed 8.7%. Mid caps were the best-performing value indices, up 5.3%, as measured by the Russell Mid Cap Value Index, while large-cap value gained 5.1%, with small caps rising 3.8%, as measured by their respective Russell value index.

Fund allocation

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Name Sector Weight
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Currency policy

Investments are predominantly made in securities denominated in US dollars. The subfund is denominated in US dollars

Dividend policy

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

Investment policy

Robeco US Select Opportunities Equities invests in midcap stocks in the US. The fund is primarily composed of stocks with a market capitalization of more than USD 750 million. Its bottom-up stock-selection process seeks to find undervalued stocks and is guided by a disciplined value approach, intensive internal research and risk aversion. The fund's broad definition of value looks beyond traditional value characteristics such as low price/earnings and price-to-book ratios, and includes analysis of long-term business fundamentals and short-term business momentum. The fund's investment objective is to participate in rising markets and preserve capital in falling markets through diligent risk management.

Risk policy

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

Sustainability profile

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The fund does not promote any environmental or social characteristics and is classified under Article 6 of SFDR.

Expectation of fund manager

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US equity markets made a strong comeback in October, after a negative previous month. The market continued to narrow as the cap-weighted S&P 500 outperformed the equal-weighted by 1.7% in the month, while the yield curve (10-year - 2-year) flattened. There are several items coming up in November, with the COP26 summit, the FOMC meeting and the release of other market indicators that will all drive headlines. The earnings season will wrap up and the market will start to look forward to the holiday season, with a focus on consumer spending and supply chain impacts. We will continue to focus at a company-by-company level and as always, the fund remains well positioned with holdings that reflect Boston Partners' three circle characteristics – attractive valuations, solid business fundamentals and identifiable catalysts.

Steven L. Pollack, CFA
Steven L. Pollack, CFA

Steven L. Pollack, CFA

Mr. Pollack is the equity portfolio manager for Boston Partners Mid Cap Value Equity product.  He is in his fifteenth year with the firm.  He joined the firm from Hughes Investments where he spent twelve years as an equity portfolio manager, managing value equity across the market capitalization spectrum.  He also oversaw the outside investment managers who manage assets for Hughes' pension plan.  He began his career at Hughes as an Investment Analyst where he spent four years covering a variety of industries and sectors.  Prior to that, he was with Remington, Inc., and Arthur Anderson & Co.  Mr. Pollack is a graduate from Georgia Institute of Technology and holds an M.B.A. from The Anderson School of Management at the University of California at Los Angeles.  He holds the Chartered Financial Analyst® designation.  He has thirty-one years of investment experience.

Details

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Management company
Fund capital
Size of share class
Outstanding shares
ISINLU0975848853
BloombergRUSOEIE LX
Valoren22457720
WKNA2QK6N
Availability
1st quotation date1380844800000
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
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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 0.01% 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.

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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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