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Robeco Emerging Markets Equities M USD

Index: MSCI Emerging Markets Index (Net Return, USD)
ISIN: LU1408526785
  • Invests in emerging markets such as Korea, Taiwan, Poland and Brazil
  • Selects companies with the best earnings potential within the most promising countries
  • Prospect of higher returns, but also higher risks than mature markets
Assets class
Current price ()
Performance YTD ()
Currency USD
Total size of fund ()
Dividend payingNo

About this fund

Robeco Emerging Markets Equities invests in stocks in emerging countries across the world. The selection of these stocks is based on fundamental analysis. In general, emerging economies are growing faster than developed countries and have stronger balance sheets for governments, companies and households. Common risks in emerging economies are political and governance risks. The fund selects investments based on top-down country analysis and bottom-up stock ideas. The focus is on companies with a sound business model, solid growth prospects and reasonable valuation.

Performance

No performance data available

Performance

Robeco Emerging Markets Equities M USD

Performance

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Statistics

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Subject 3 years 5 years
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Market development

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In August, emerging markets declined by 2.16%, lagging developed markets which were up 1.81%.US sanctions, trade tariffs and risk of contagion in emerging markets occupied the headlines, souring investor sentiment. A basket of EM currencies fell 2%. Barring the Thai baht and the Korean won, all EM currencies were down, with five of them falling in excess of 5% (Turkish lira, South African rand, Russian ruble, Brazilian real, Chilean peso). Energy prices picked up: Brent crude was up 4.4%. Precious metals and soft commodities mostly fell, while industrial metals were mixed: aluminum up 2%, copper down 5%. Worst markets were Argentina, Turkey and Brazil. Brazilian equities plunged in the wake of political uncertainty. Turkish equities reflected the depreciation of the lira, as the markets suffered from the imposition of sanctions and trade tariffs by the US. Russian equities were dragged down by losses on the ruble, as investors took cognizance of rising risks of further US sanctions.China continued its downtrend as the US upped the ante in the Sino-US trade conflict. The central banks of India, Indonesia and the Philippines raised interest rates to arrest the slide in their currencies.

Fund Classification

DescriptionYesNoN/A 
Voting
Engagement
ESG integration
Exclusion
DescriptionYesNoN/A 
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Sustainability Themed Fund

Fund allocation

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Name Sector Weight
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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 income earned by the fund is reflected in its share price. The fund's entire result is thus reflected in its share price development.

ESG Integration policy

For Robeco Emerging Markets Equities, ESG factors are incorporated in the investment and decision-making process. A proprietary bi-annual corporate governance questionnaire is an integral part of the fundamental framework. The team assesses shareholder, board, management, government, social and environmental factors where appropriate. The team also includes ESG considerations in their country allocation process. ESG-based considerations impact the stock valuation analysis. Relevant ESG issues are discussed with company management on a case by case basis. Input from RobecoSAM Sustainability analysts is used to further enhance ESG integration in the investment process.

Investment policy

Robeco Emerging Markets Equities invests globally in emerging economies. The focus is on companies which combine a sound business model and solid growth prospects with a reasonable valuation. The first step in portfolio composition is the top-down country selection, as research shows that country specific factors drive stock returns in emerging markets. The second step is in-depth fundamental analysis of companies and serves to identify stocks with the ability to outperform in the long run. Key items of our fundamental analysis are: growth prospects of sector, position of company within sector, competitive strength, financial health and strategy, corporate governance and management quality. We screen stocks with our proprietary quantitative model for attractive characteristics. Key items of our fundamental analysis are: growth prospects of sector, position of company within sector, competitive strength, financial health and strategy, corporate governance and management quality. We screen stocks with our proprietary quantitative model for attractive characteristics. 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

Risk management is fully integrated in the investment process to ensure that positions always meet predefined guidelines.

Expectation of fund manager

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We consider the global environment to be supportive for emerging markets. Global growth is doing well, and the monetary policy is still accommodative in Europe and Japan, while the Fed is only gradually hiking interest rates. Politics in developed markets is still a risk factor and also protectionism has recently become a more pronounced risk. Growth in emerging markets still considerably exceeds that of developed markets. Although growth for commodity exporting countries such as South Africa, Russia and Brazil remains low, it has now moved into positive territory. Inflation is by and large stable, and Brazil and Russia are now able to cut interest rates, which are coming from a high base. The main risk factor remains political, which is the case for most emerging countries, and high and rising debt levels in China. Growth in China has been strong this year, but the credit policy has been tightened recently. Valuations are still attractive as emerging markets trade at more than 25% discount to their developed peers and global emerging markets equity funds are seeing inflows again.

Wim-Hein Pals, Dimitri Chatzoudis, Jaap van der Hart, Fabiana Fedeli
Wim-Hein Pals, Dimitri Chatzoudis, Jaap van der Hart, Fabiana Fedeli

Wim-Hein Pals, Dimitri Chatzoudis, Jaap van der Hart, Fabiana Fedeli

Mr. Pals, Executive Vice President, is Head of Emerging Markets Equities with Robeco. He also is the Fund Manager for the Robeco CGF Emerging Markets Equities. From 1998 to 2001 Wim-Hein was Senior Portfolio Manager in emerging European and African equities. Prior to this assignment, he was a Senior Portfolio Manager in emerging Asian equities. Wim-Hein Pals has been working as a Fund Manager since 1992. He holds a master of Science in Industrial Engineering and Management Sciences from the Eindhoven University of Technology as well as a master's degree in Business Economics from Tilburg University. Wim-Hein is registered with the Dutch Securities Institute. Mr. Dimitri Chatzoudis, Senior Portfolio Manager. Dimitiri is a Senior Portfolio Manager with Robeco and a member of the Emerging Markets Equities team since June 2008. He is responsible for the team's investments in Central Europe and South Africa. He started his career at ABN AMRO in 1993 as a buy side analyst, responsible for the IT sector. He transitioned to the Emerging Markets team at ABN AMRO in 2000, where he was responsible for the Eastern Europe Fund as the lead portfolio manager and from 2005 to May 2008 as the lead portfolio manager of the Global Emerging Market portfolios. Dimitri holds a Master's degree in Industrial Engineering from the Eindhoven University of Technology and became a VBA charter holder in 1997. He is registered with the Dutch Securities Institute. Mr. van der Hart, Vice President, is a Senior Portfolio Manager with Robeco and member of the Emerging Markets Team. Previously, he was a Portfolio Manager Robeco Eastern European Equities Fund. Before that, he held a position as a Senior Portfolio Manager Latin American Equities with Robeco. He is a graduate from the Erasmus University Rotterdam and holds a Master's degree in Econometrics. Fabiana Fedeli is Head of Global Fundamental Equities and Portfolio Manager in the Emerging Markets Equities team where she is responsible for portfo

Details

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Management companyRobeco Luxembourg S.A.
Fund capital
Outstanding shares
ISINLU1408526785
BloombergRGEMEMU LX
Valoren32535680
WKN
AvailabilityLU, SG, CH, TW
1st quotation date1463616000000
Close financial year31-12
Legal statusInvestment company with variable capital incorporated under Luxembourg law (SICAV)
Reference index

Cost of this fund

Ongoing charges

This fund deducts ongoing charges of
These charges comprise
Management fee
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Transaction costs

The expected transaction costs are

Performance fee

This fund may also deduct a performance fee of

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.

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).

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