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Robeco Digital Innovations I EUR

Index: MSCI All Country World Index (Net Return, EUR)
ISIN: LU1602110832
  • 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
Asset class
Current price ()
Performance YTD ()
Currency EUR
Total size of fund ()
Dividend payingNo

About this fund

Robeco Digital Innovations is an actively managed fund that invests worldwide in equities from developed and emerging countries. The selection of these stocks is based on a fundamental analysis. The fund's objective is to achieve a better return than the index. The fund invests in a number of structural growth trends on the production side of the economy, such as robots and automation, digital enablers and secure digital infrastructure. The fund managers try to select stocks of the structural winners within these trends.

Price development

No performance data available

Price development

Robeco Digital Innovations 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 -5.72%. Of our three trends, only Secure Digital Infrastructure managed to outperform the MSCI AC World Index. Digital Enablers surrendered over the month, as most holdings suffered from high-multiple-growth-stock aversion. Robotics & Automation sank with all holdings except TE Connectivity. Recession angst being the common denominator. Secure Digital Infrastructure, which has consistently been the best-performing trend year-to-date, nevertheless lost for the month. PTC, Crown Castle and Equinix were the top three stocks in April. The bottom three stocks were Fortinet, Salesforce and Infineon Technologies.

Statistics

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Market development

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Another very tough month for equity markets and another month of value outperforming growth by a very significant margin, which resulted in our growth-oriented portfolio lagging the broader market. The receding hope that the conflict in Ukraine will be resolved quickly and the strict lockdown policies of the Chinese government, which will dampen growth and prolong supply chain stress, reinforced the concerns about high inflation, hawkish central banks talk and slowing growth that have been on investors' minds for the last few months. Clearly, recession 'angst' is weighing on markets and the earnings reporting season that is underway has thus far failed to assuage investors' fears. While reported results over the first calendar quarter have generally come in better than expected, the outlook for the coming quarters has become more cautious, as inflation is working its way through the value chain and supply chain stress is still very much a challenge in many industries. Is everything going pear-shaped? No, on the bright side, most companies report that demand continues to be strong, as evidenced by rising orders and growing backlogs.

Fund allocation

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Name Sector Weight
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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

The fund incorporates sustainability in the investment process through exclusions, ESG integration, engagement and voting. The fund does not invest in issuers that are in breach of international norms or where activities have been deemed detrimental to society following Robeco's exclusion policy. Financially material ESG factors are integrated in the bottom-up investment analysis to assess existing and potential ESG risks and opportunities. In the stock selection the fund limits exposure to elevated sustainability risks. In addition, where a stock issuer is flagged for breaching international standards in the ongoing monitoring, the issuer will become subject to engagement. Lastly, the fund makes use of shareholder rights and applies proxy voting in accordance with Robeco's proxy voting policy.

Investment policy

Robeco Digital Innovations is an actively managed fund that invests worldwide in equities from developed and emerging countries. The selection of these stocks is based on a fundamental analysis. The fund's objective is to achieve a better return than the index. The fund promotes E&S (i.e. Environmental and Social) characteristics within the meaning of Article 8 of the European Sustainable Finance Disclosure Regulation, integrates sustainability risks in the investment process and applies Robeco’s Good Governance policy. The fund applies sustainability indicators, including but not limited to, normative, activity-based and region-based exclusions, proxy voting and engagement. The fund invests in a number of structural growth trends on the production side of the economy, such as robots and automation, digital enablers and secure digital infrastructure. The fund managers try to select stocks of the structural winners within these trends.The majority of stocks selected will be components of the Benchmark, but stocks outside the Benchmark may be selected too. The investment policy is not constrained by a benchmark but the fund may use a benchmark for comparison purposes. The fund can deviate substantially from the issuer, country and sector weightings of the Benchmark. There are no restrictions on the deviation from the Benchmark. The Benchmark is a broad market weighted index that is not consistent with the ESG characteristics promoted by the fund.

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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Exclusions

ESG Integration

Voting & Engagement

Sustainability

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The fund incorporates sustainability in the investment process through exclusions, ESG integration, engagement and voting. The fund does not invest in issuers that are in breach of international norms or where activities have been deemed detrimental to society following Robeco's exclusion policy. Financially material ESG factors are integrated in the bottom-up investment analysis to assess existing and potential ESG risks and opportunities. In the stock selection the fund limits exposure to elevated sustainability risks. In addition, where a stock issuer is flagged for breaching international standards in the ongoing monitoring, the issuer will become subject to engagement. Lastly, the fund makes use of shareholder rights and applies proxy voting in accordance with Robeco's proxy voting policy.

Expectation of fund manager

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The combination and confluence of increasing connectivity, digitization of products and services and digitization of business processes is providing abundant opportunities to make tremendous progress in these respects across virtually every industry. Robeco Digital Innovations is designed to capture this digital growth trend. We continue to believe that the secular trends outlined above remain valid and, if anything, have been reinforced by the pandemic. In addition to seeking productivity and efficiency gains, minimizing exposure to human vulnerabilities, such as a pandemic, has come to the forefront as a forceful argument to expedite the digital transformation of business. The long-term prospects are very bright, but the short-term outlook has turned a bit murky with the threat of stronger inflationary pressures for longer triggering a monetary policy response that may hold back economic growth. With most of the valuation froth removed after the sharp correction in stock prices and no reason to downgrade the medium and longer-term growth prospects for business, the risk-reward is rapidly becoming attractive again.

Marco van Lent, Steef Bergakker
Marco van Lent, Steef Bergakker

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 MegaTrends/Rolinco and since June 2017 portfolio manager of Robeco Digital Innovations. 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

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Management company
Fund capital
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ISINLU1602110832
BloombergROGIIIE LX
Valoren36473770
WKN
Availability
1st quotation date1495584000000
Close financial year31-12
Legal status
Tracking error limit (%)
Morningstar
Reference index

Cost of this fund

Ongoing charges

This fund deducts ongoing charges of
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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

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