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Robeco Chinese Equities I USD

ISIN: LU0440072402
  • Focused investing in Chinese equities
  • Market developments in China are reflected in the fund's price development.
  • Low-cost investment in listed Chinese equities
Asset class
Current price ()
Performance YTD ()
Currency USD
Total size of fund ()
Dividend payingNo

About this fund

Robeco Chinese Equities is an actively managed fund that invests in leading listed Chinese stocks. The selection of these stocks is based on fundamental analysis. The fund identifies attractive macro-economic themes and selects fundamentally sound companies. Both offshore (Hong Kong and US listed) and, to a limited extent, domestic Chinese stocks are selected. Voting, Engagement, ESG Integration and Robeco's exclusion policy are part of the investment policy.

Price development

No performance data available

Price development

Robeco Chinese Equities I USD

Performance

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Fund Reference index
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3 months
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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
3 years 5 years
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Above mentioned ratios are based on gross of fees returns
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Market development

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In August, the MSCI China 10/40 Index gained 5.20% in US dollar terms and 4.02% in euro terms. The A-share market was up 2.58% in renminbi terms, with the currency increasing 1.93% against the US dollar. Overall, the macroeconomic data released in August was generally in line with market expectations: manufacturing PMI came in at 52.8, exports at 10.4%, imports at 1.6%, CPI at 2.7%, PPI at -2.4% and M2 at 10.7%.

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

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

Dividend policy

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

ESG Integration policy

Robeco Chinese Equities integrates ESG factors into its investment process by analyzing the impact of financially material ESG factors to a company’s competitive position and value drivers. We believe that this enhances our ability to understand existing and potential (long-term) risks and opportunities of a company. The impact of material ESG factors can be positive or negative, reflecting risks or opportunities, that ensue from a company’s ESG analysis. If ESG risks and opportunities are significant, the ESG analysis could impact a stock’s fair value and the portfolio allocation decision. In addition to ESG integration, Robeco also has an exclusion policy and conducts proxy voting and engagement activities focused on specific themes, such as climate change, aiming to improve a company’s sustainability profile.

Investment policy

Robeco Chinese Equities invests in leading listed Chinese or China-related companies. The country-fund return reflects market developments in the country concerned. Your portfolio is actively managed. Exchange-rate changes are reflected in the fund's price. Risk management is fully embedded in the investment process to ensure that the fund's positions remain within set limits at all times. The fund is normally fully invested. 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

Active. Risk management systems continually monitor the portfolio's divergence from the benchmark. In this way, extreme positions are avoided.

Expectation of fund manager

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On the Chinese market outlook, we remain constructive for 2020, although the US-China tension re-escalation does make us more cautious in the near term, particularly about the technology and export sectors and ADRs. We are positive on the domestic demand driven sectors, as work resumption is progressing every week, with most of the Covid-19 control measures gradually being lifted across the country. We anticipated that Covid-19 prevention measures (such as wearing masks in public, temperature taking and Covid-19 testing for special situations) will become the new normal, allowing life to get back to normal. During the National People’s Congress, more significant stimulus measures were announced. As expected, China is continuing its domestic reforms, including the modernization of state-owned enterprises (SOEs) to ensure that they become more efficient, and the support of private sectors after the coronavirus outbreak. Our focus in the coming period is on the effectiveness of policy support, the domestic demand driven by infrastructure spending and consumption recovery, and the technology and innovation driven by 5G and new energy investments.

Team China
Team China

Team China

The Chinese Equities investment team consists of five investment professionals with an average experience of 10 years, combining complementary skills and worldwide investment backgrounds. The team’s portfolio managers place local insights into the context of a wider regional and global perspective. Local presence in Hong Kong and Shanghai allows for optimal coverage of both off- and onshore markets, respectively.

Details

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Management company
Fund capital
Size of share class
Outstanding shares
ISINLU0440072402
BloombergROCEQIU LX
Valoren10372443
WKNA1CZC0
Availability
1st quotation date1263513600000
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 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).

The funds shown on this website may not be available in your country. Please select your country website (top right corner) to view the products that are available in your country.

Neither information nor any opinion expressed on the website constitutes a solicitation, an offer or a recommendation to buy, sell or dispose of any investment, to engage in any other transaction or to provide any investment advice or service. An investment in a Robeco product should only be made after reading the related legal documents such as management regulations, prospectuses, annual and semi-annual reports, which can be all be obtained free of charge at this website and at the Robeco offices in each country where Robeco has a presence.

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