Robeco Customized US Large Cap Equities - EUR G
- Large cap value fund.
- Selects the best investment candidate with a market capitalization greater than $2 billion.
- Bottom-up fundamental research investment discipline.
About this fund
Price development
Performance
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundPerformances.date,'llll') ]}}| Fund | Reference index | |
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| {{'fund.detail.performance.period.sinceInception' | labelize:[ fundDate(fund.fundPerformances.sinceStart.startDate,'MM-YYYY') ]}} |
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 | |
|---|---|---|
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
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}Based on transaction prices, the fund's return was 5.38%. Robeco Customized US Large Cap Equities outperformed the Russell 1000 Value Index in December, driven by strong stock selection. Stock picking in healthcare, information technology and consumer discretionary added most value over the final month of the year. Within healthcare, providers and services companies Cigna, Centene, CVS Health, AmerisourceBergen and McKesson all climbed 14% or more, while in information technology, Cisco and Micron Technology were additive. Not owning Salesforce.com also aided the relative performance. Auto parts retailer AutoZone was the standout performer in consumer discretionary, as the stock gained over 15% on the back of a fiscal-first quarter profit-and-sales beat, because demand in the used car market has surged. Sector allocation detracted from performance mainly due to the fund's underweight exposure to the 'bond proxies’ – consumer staples, real estate and utilities.
Statistics
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Dividend paying history
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}| Date | Amount |
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Market development
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}US equities finished the year strongly, with the S&P 500 Index rising 4.9% in December. Value equities convincingly outperformed their growth counterparts across all market capitalizations. Large-cap value and mid-cap value were the best performers, with the Russell Large Cap Value Index and the Russell Mid Cap Value Index both up 6.3%, while small-cap value, as measured by the Russell 2000 Value Index posted gains of 4.1% to finish the month.
Fund allocation
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundAllocations.date,'llll') ]}}| Name | Sector | Weight |
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Currency policy
Investments are exclusively made in securities denominated in US dollars.
Dividend policy
In principle, the fund will distribute dividend annually.
ESG Integration policy
The fund is classified as falling under Article 6 of Regulation (EU) 2019/2088 of 27 November 2019 on sustainability-related disclosures in the financial sector.
Investment policy
The fund's broad definition of value looks beyond traditional value characteristics such as low Price/Earnings and Price/Book, 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 in the investment process to ensure that positions always meet predefined guidelines.
Sustainability profile
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}
Sustainability
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}The fund is classified as falling under Article 6 of Regulation (EU) 2019/2088 of 27 November 2019 on sustainability-related disclosures in the financial sector.
Expectation of fund manager
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}Markets in the United States as measured by the S&P 500 finished the year on a high note for the third straight positive year. The index achieved 70 record closes this year, which was the most since 1995 and displayed its best 3-year performance since 1999. While accelerating inflation and rising Covid cases have been a cause for concern, strong corporate earnings growth has helped investors look past these issues. We do not try to predict market, macro or other unknowable events. Instead our focus remains on selecting companies from the bottom-up and the fund is well positioned with holdings that reflect Boston Partners' three circle characteristics – attractive valuations, solid business fundamentals and identifiable catalysts.
Mark Donovan, CFA & David Pyle, CFA
Mr. Donovan is Co-Chief Executive Officer of Boston Partners and lead portfolio manager for BP Large Cap Value portfolios. He is responsible for strategic and tactical operating decisions affecting the firm. He was one of the founding partners of Boston Partners Asset Management in 1995. He joined the firm from The Boston Company where he was Senior Vice President and equity portfolio manager. He also spent five years as a consulting associate with Kaplan, Smith & Associates, and two years as a securities analyst for Value Line Inc. Mr. Donovan holds a B.S. degree in management from Rensselaer Polytechnic Institute. He holds the Chartered Financial Analyst® designation. He has thirty-four years of investment experience.Mr. Pyle is a portfolio manager for Boston Partners Large Cap Value portfolios. Prior to assuming this role, he was a research analyst covering the utility, insurance, leisure & lodging, packaging, publishing, and computer equipment & services sectors. Mr. Pyle joined the firm from State Street Research where he was a research analyst and associate portfolio manager in their equity value group. Prior to that, he spent five years with Price Waterhouse. Mr. Pyle holds a B.S. degree in business administration from California State University, Chico, and an M.B.A. degree from the Kenan-Flagler School of Business at the University of North Carolina. Mr. Pyle holds the Chartered Financial Analyst® designation. He has twenty years of investment experience.
Details
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}| Management company | |
| Fund capital | |
| Size of share class | |
| Outstanding shares | |
| ISIN | NL0010831046 |
| Bloomberg | BOBL NA |
| Valoren | |
| WKN | A2AB39 |
| Availability | |
| 1st quotation date | 1408579200000 |
| Close financial year | 31-12 |
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Cost of this fund
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Extra fees
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Fiscal product treatment
The fund is established in the Netherlands. The fund is managed as a 'naamloze vennootschap' (public limited company). The fund has the status of 'fiscal investment institution' in the sense of article 28 of the Dutch Corporate-Income Tax Act 1969, and, as such, is taxed at a corporate-income tax rate of 0%.The fund is obliged to pay out the realized current income in the form of dividend within 8 months after the end of the financial year. From 1 January 2007 the fund withholds Dutch dividend tax at a rate of 15% from these dividend payments. The fund can in principle use the Dutch treaty network to partially recover any withholding tax on its income.
Fiscal treatment of investor
For private investors residing in the Netherlands real interest and dividend income or capital gains received on their investments are not relevant for tax purposes. Participating units held by private investors who are taxpayers in the Netherlands belong in Box 3. If and insofar as an investor's net assets exceed the net wealth exemption limit, said investor is liable from 1 January to pay 1.2% annually on the balance of his or her net assets. Investors residing in the Netherlands may offset the Dutch dividend tax withheld (15% as at 1 January 2007) against their income-tax payment. Investors who are not subject to (exempt from) Dutch corporate-income tax (e.g. pension funds) are not taxed on the achieved result. Dutch tax-exempt bodies may seek a full refund on the 15% dividend tax withheld on dividends (25% prior to 1 January 2007). Interest income is exempt from tax withheld at source. 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 in their tax return. In principle, Dutch bodies that are subject to corporate-income tax may offset the 15% dividend tax withheld on dividends (25% prior to 1 January 2007) against the corporate-income tax and seek a refund of the excess amount. Investors residing outside the Netherlands are subject to their respective national tax regime applying to foreign investment funds. Shareholders who do not pay tax in the Netherlands and who are resident in countries that have a tax treaty with the Netherlands to prevent double taxation, may seek a refund for part of the Dutch dividend tax from the Dutch tax authorities, depending on the treaty. As of 1 January 2007, a pension fund having its registered office in another EU member state is also entitled to a dividend-tax refund in the Netherlands. The above is based on the current fiscal legislation and regulation.
