Fund | Index | |
---|---|---|
1 month | ||
3 months | ||
YTD | ||
1 year | ||
2 years | ||
3 years | ||
5 years | ||
10 years | ||
{{'fund.detail.performance.period.sinceInception' | labelize:[ fundDate(fund.fundPerformances.sinceStart.startDate,'MM-YYYY') ]}} |
Fund | Reference index | |
---|---|---|
Based on closing GAV, the fund's return was -0.61%. The fund posted a negative return over the month. Rates declined somewhat after the ECB announced additional measures to limit the yield rise. That said, we expect the market will test the ECB again when economies reopen in the coming months. We continue to have a clear preference for highly-rated government-related bonds over semi-core government bonds at current valuations.
3 years | 5 years | ||
---|---|---|---|
Tracking error ex-post (%) |
|
||
Information ratio | |||
Sharpe ratio | |||
Alpha (%) | |||
Beta |
|
||
Standard deviation |
|
||
Max. monthly gain (%) |
|
||
Max. monthly loss (%) |
|
3 years | 5 years | ||
---|---|---|---|
Months outperformance | |||
Hit ratio (%) | |||
Months Bull market | |||
Months outperformance Bull | |||
Hit ratio Bull (%) | |||
Months Bear market | |||
Months outperformance Bear | |||
Hit ratio Bear (%) |
Fund | Reference index | ||
---|---|---|---|
Rating | |||
Option Adjusted Modified Duration (years) | |||
Maturity (years) | |||
Yield to Worst (%) | |||
Green Bonds (%) |
Government bond returns in the Eurozone were mixed in March, but negative for most tenors and high-rated bonds. Eurozone government bonds were supported by the outcome of the ECB's March meeting. The Governing Council expressed the intention to conduct its PEPP bond purchases "at a significantly higher pace". New waves of Covid-19 infections in the EU and a slow vaccination pace probably tempered reopening enthusiasm, thereby also supporting Eurozone bonds.
Name | Sector | Weight |
---|---|---|
Yes | No | N/A | ||
---|---|---|---|---|
Voting | ||||
Engagement | ||||
ESG integration | ||||
Exclusion |
Yes | No | N/A | ||
---|---|---|---|---|
Screening | ||||
Integration | ||||
Sustainability Themed Fund |
The portfolio holds euro-denominated investments only. No active currency policy is applied.
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.
Sustainability is an important factor within the investment process of the Subfund. Environment, Social and Governance (ESG) aspects are systematically integrated in our highly disciplined investment process in several ways. We apply an extensive exclusion list covering various controversial countries, sectors or business practices and we continuously monitor our universe for companies with governance issues, major litigations or regulatory risk. For investments in sovereigns, the Country Sustainability Ranking and underlying research is used as input for assessment of the structural outlook for a country. Furthermore, the Subfund holds a substantial position in green bonds and we take into account sustainability scores of brokers we select for executing transactions.
Sustainable Pension Protection consists of a creditworthy portfolio with the aim of replicating the value development of a pension annuity as obtained on the retirement date. The fund therefore has no benchmark. The development in value of an annuity depends mainly on movements in interest rates, and the fund follows this value development as closely as possible. Sustainable Pension Protection invests exclusively in high-quality government bonds and government-related sustainable bonds listed in euros. A swap duration overlay is added to achieve the exact hedge desired in a cost-effective manner, thus reducing the spread risk between government bonds and the annuity.
Risk management is fully integrated in the investment process to ensure that positions always meet predefined guidelines.
Sustainability is an important factor within the investment process of the Subfund. Environment, Social and Governance (ESG) aspects are systematically integrated in our highly disciplined investment process in several ways. We apply an extensive exclusion list covering various controversial countries, sectors or business practices and we continuously monitor our universe for companies with governance issues, major litigations or regulatory risk. For investments in sovereigns, the Country Sustainability Ranking and underlying research is used as input for assessment of the structural outlook for a country. Furthermore, the Subfund holds a substantial position in green bonds and we take into account sustainability scores of brokers we select for executing transactions.
With the US economy reopening we expect the moment to come closer for the Fed to start signaling a tapering of bond purchases. This could give a new impulse to the sell-off in bonds globally. We are mindful that in the past, a sharp increase in rate volatility has coincided with country spread widening. Nonetheless, even as rate volatility has picked up, we remain relatively constructive on European country and government-related spreads. With increased support from PEPP purchases by the ECB, we expect spreads to remain contained in the coming quarter. Economic data will improve due to reopenings, and combined with upcoming investments from the NGEU funds in the second half of the year, we expect GDP numbers to surprise on the upside.
Remmert Koekkoek is Head of Insurance and Pension Solutions within the Global Fixed Income Macro team. He has worked at Robeco since 2011. In the period 2010-2011 he was responsible for derivative overlay investment solutions for Dutch pension funds and insurance companies at Credit Suisse. Between 2005 and 2010 Remmert also worked in Robeco's Structured Investment team as a Trader. He started his career in the industry in 2004 at ING Risk Management. Remmert holds a Master's (cum laude) in Econometrics from Erasmus University Rotterdam. Yvo is Portfolio Manager in the Insurance & Pension Solutions team. Yvo started his career in 2005 at Robeco Quantitative Strategies. In 2006 he moved to the Structured Investments department where he was responsible for trading linear and non-linear exposures on the balance sheet of Robeco on predominantly the rates markets. Since 2012 he is responsible for the management and development of discretionary and pooled matching solutions on both the bond and swap markets. Yvo holds a Master’s degree in Computational Finance from the Erasmus University Rotterdam.
Management company | |
Fund capital | |
Size of share class | |
Outstanding shares | |
ISIN | LU1949716051 |
Bloomberg | ROCLVII LX |
Valoren | |
WKN | |
Availability | |
1st quotation date | 1554854400000 |
Close financial year | 31-12 |
Legal status | |
Tracking error limit (%) | |
Reference index |
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 |
max entry fee | ||
Max exit fee | ||
Max sub fee | ||
Max switch fee |
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 0,00% 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.
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.
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.
By clicking Proceed I confirm that I am a professional investor and that I have read, understood and accept the terms of use for this website.