Robeco Digital Innovations F EUR
- Invests in a number of structural growth trends on the production side of the economy, e.g. Robotics and Automation, Digital Enablers, Secure Digital Infrastructure.
- Top-down trend selection and bottom-up stock selection using proprietary valuation models
- Risk limitation through diversification over multiple trends with different drivers and risk characteristics
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.
Statistics
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Market development
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}During October, investors became more optimistic on a US-China trade deal, even though it was classified as just a ‘Phase-I’ deal. On top of that, companies’ interim results were beating expectations at a slightly above-historical average rate, although it must be said that we have seen many downgrades in expected earnings growth prior to reporting. Muted reactions to when earnings missed forecasts in combination with strong reactions to beats suggested the macro slowdown seemed more or less priced in by the equity market. Finally, the anticipated Fed rate cut was duly delivered at the end of the month. A possible breakthrough on the trade front helped export-oriented emerging markets that were up 1.8% when measured in EUR, followed by Eurozone up 1.1%. Although Wall Street registered new all-time highs, up 2.2% from September, these gains vanished when measured in EUR. The best-performing developed market was Japan, that rose over 5% in local currency, giving away half of its gain on a weaker yen. Increased trade optimism pushed up IT and industrials. Within IT however, interim results from Nokia led to downward pressure on 5G-related stocks towards the end of the month.
Fund allocation
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundAllocations.date,'llll') ]}}| Name | Sector | Weight |
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Fund Classification
| Yes | No | N/A | ||
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| Voting | ||||
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| ESG integration | ||||
| Exclusion |
| Yes | No | N/A | ||
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| Screening | ||||
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| Sustainability Themed Fund |
Currency policy
The fund can engage in currency hedging transactions. Typically currency hedging is not applied.
Dividend policy
The fund does not distribute dividend. The fund retains any income that is earned, and so its entire performance is reflected in the price.
ESG Integration policy
Robeco Digital Innovations 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 Digital Innovations invests in companies all over the world which benefit from the structural growth trends within the production side of the economy, for example robotics, digital manufacturing, energy transition and cybersecurity. Companies will primarily be selected on their exposure to the selected trends but will then be subjected to a rigorous analysis of the competitive positioning, strength of the management team and historical track record of sales, margins and earnings. Robeco Digital Innovations holds a concentrated portfolio of equities for which the fund manager expects above-average performance in the long term.
Risk policy
Risk management is fully integrated into the investment process to ensure that positions always meet predefined guidelines.
Expectation of fund manager
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}The world is embracing Industry 4.0, in which the combination of connectivity and digitization will lead to profound changes in manufacturing. New developments in robotics and automation techniques will enable more intelligent manufacturing. Thanks to advanced manufacturing systems and self-sensing, intelligent optimization will become possible in every aspect of the manufacturing process. This will shorten the R&D cycle, raise productivity and product quality while reducing costs. Although the trade war leads to delays in capex spend, affecting many industrial and technology companies, it will not derail this secular trend. On the contrary, the America First strategy might ultimately lead to more robots and automation in the US. Worldwide companies have started to talk about regionalizing global supply chains, which could lead to more local and flexible production. The Made in China 2025 target will lead to an upgrade of its industrial complex to industry 4.0 standards.
Marco van Lent, Steef Bergakker
Marco van Lent is a member of the Robeco Trends Investing Equity team since December 2010 and since November 2013 portfolio manager of Robeco Global Growth Trends/ Rolinco. Before that he was portfolio manager of Robeco Infrastructure Equities. He joined Robeco in October 2007 to co-manage two European equity funds. He started his investment career in 1985 as a sell-side analyst/strategist. In 1996, he became a portfolio manager at Van Spaendonck Asset Management. This was followed by a position as senior portfolio manager European equities at Philips Investment Management in 1999. Using the high-conviction investment strategy which he had co-developed at Philips Investment Management, he moved on to Van Lanschot Asset Management to manage the Van Lanschot European Equity Fund. After the acquisition of Kempen Capital Management by Van Lanschot, he worked at Kempen Capital Management for 6 months to manage European equity mandates. Marco holds a Master' s degree in Business Economics and Finance from Tilburg University. Steef Bergakker is a member of the Robeco Trends Investing team and portfolio manager of Robeco Hollands Bezit. Before he was the portfolio manager of Robeco Infrastructure Equities. Prior to rejoining Robeco in 2008, Steef held different functions at IRIS (Institute for Research and Investment Services), the former research joint venture of Robeco and Rabobank. From 1998 through 2008 he served as head of IRIS Equity Research, and before that he worked as equity analyst for 8 years. Steef started his career in the investment industry at Robeco in 1990, as a junior analyst. He holds a Master¿s degree in Monetary Economics and Finance and Investments from Erasmus University, Rotterdam.
Details
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}| Management company | |
| Fund capital | |
| Size of share class | |
| Outstanding shares | |
| ISIN | LU1602110758 |
| Bloomberg | |
| Valoren | 36473768 |
| WKN | |
| Availability | |
| 1st quotation date | 1495584000000 |
| Close financial year | 31-12 |
| Legal status | |
| Tracking error limit (%) | |
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Cost of this fund
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Transaction costs |
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Performance fee |
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Extra fees
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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.
