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Robeco Emerging Opportunities Equities D EUR

Reference index: MSCI Emerging Markets Index (Net Return, EUR)
ISIN: LU1215397057
  • Invests in emerging and frontier markets equities.
  • Allows for exposure to large, mid and small caps.
  • Aim for higher returns.
Assets class
Current price ()
Performance YTD ()
Currency EUR
Total size of fund ()
Dividend payingNo

About this fund

Robeco Emerging Opportunities Equities invests in stocks in emerging and frontier markets across the world. The selection of these stocks is based on fundamental analysis. The fund aims to achieve higher returns by investing flexibly in the most promising countries independently from the reference index. The fund manager combines a top-down country allocation process with bottom-up stock selection, where stock selection is based on a unique blend of fundamental and quantitative proprietary research. Its flexible portfolio construction allows for exposure not only to large companies but also to mid and small caps when attractive opportunities arise. The fund has a diversified portfolio.

Price development

No performance data available

Price development

Robeco Emerging Opportunities Equities D 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.

Statistics

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Market development

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Emerging markets experienced a significant drop of 6.4% in euros in October, performing slightly worse than the 5.0% decline for developed markets. Key reasons for the weak global markets in October were negative headlines on the US-China trade conflict, fears that the US economy is becoming late-cyclical, and a relatively weak global earnings season. Brazil stood out in these weak markets with a 21% rally in euros due to the victory of Jair Bolsonaro in the presidential elections. Although Bolsonaro has made controversial comments on several issues, he has teamed up with well-respected economist Paulo Guedes, supports the much-needed pension reform and in general favors privatizations. Also Qatar and the United Arab Emirates performed relatively well. The worst performing market was Mexico, as the market reacted negatively to the decision of president-elect López Obrador to abandon the development of the partly built new Mexico City airport. Korea, Taiwan and China also performed relatively poorly, impacted by the worries on the US-China trade conflict and global growth. In response to the trade worries, the Chinese government announced several measures to support the economy and market sentiment.

Fund allocation

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Name Sector Weight
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Fund Classification

YesNoN/A 
Voting
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ESG integration
Exclusion
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Sustainability Themed Fund

Currency policy

The fund is allowed to pursue an active currency policy to generate extra returns.Currency risk can be hedged but the portfolio manager is mindful of the costs versus rewards of such hedges and might find hedging via country allocation and stock selection more beneficial to performance.

Dividend policy

This share class of the fund does not distribute dividend. This share class of the fund retains any income that is earned and so its entire performance is reflected in its share price.

ESG Integration policy

For Robeco Emerging Opportunities Fund, 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 Opportunities Equities invests worldwide in stocks of the most promising emerging economies as well as frontier economies. These economies are at an earlier stage of development versus developed countries, offering more opportunity for company returns to grow. The fund aims to outperform broader emerging markets as represented by the MSCI Emerging Markets Index over a full market cycle. The fund has the freedom to seek higher returns by investing flexibly in the most promising stocks and countries independently from the reference index. Its flexible portfolio construction allows for exposure not only to large companies but also to mid and small caps when attractive opportunities arise. The portfolio is well-diversified consisting of 70 to 100 stocks. Investing in emerging markets is one of the core capabilities of Robeco's equity investments. The investment team consists of specialists with many years of experience in applying both fundamental and quantitative analysis in emerging markets. The fund manager combines a top-down country allocation process with bottom-up stock selection, where stock selection is based on a unique blend of fundamental and quantitative proprietary research.

Risk policy

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

Expectation of fund manager

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At the beginning of the year, the global outlook was quite sunny, with some clouds on the horizon. Now, these clouds have developed into several serious thunderstorms. The Trump government has not backed down on the China trade dispute and rising US interest rates have further hurt emerging sentiment, with several countries seeing significant currency depreciation. At the same time, the economic numbers are still pretty good, with relatively stable growth and low inflation in most emerging countries. And with the market correction, more negative scenarios are already priced in, leaving room for upside if the actual outcome is better than expected. For now, we think it is still too early to become strongly positive. We have yet to see the impact of the US import tariffs on China, and both earnings trend and investor sentiment are not very supportive either. However, given the continued robust growth, attractive valuations and low expectations, we would also caution against being too negative.

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, Wim-Hein Pals, Dimitri Chatzoudis

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. 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.

Details

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Management company
Fund capital
Outstanding shares
ISINLU1215397057
BloombergRCGREDE LX
Valoren27809252
WKN
Availability
1st quotation date1430265600000
Close financial year31-12
Legal status
Tracking error limit (%)
Morningstar
Reference index

Cost of this fund

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

Extra fees

max entry fee
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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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