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Robeco Emerging Opportunities Equities I EUR

Reference index: MSCI Emerging Markets Index (Net Return, EUR)
ISIN: LU1215391449
  • 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 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.

Statistics

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Above mentioned ratios are based on gross of fees returns
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Market development

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In April, the MSCI Emerging Markets Index increased by 2.3% in euros, lagging the 3.7% increase for developed markets. Best countries were Egypt, South Africa, Qatar, Mexico and the UAE, while Pakistan, Turkey and Colombia were the worst performing countries. South Africa performed well in the run-up to the national elections in May, also reflected by an appreciation of the rand. In Turkey, the opposition did relatively well in local elections, winning the elections in Ankara and Istanbul. In Indonesia, president Joko Widodo has likely won the presidential elections, but the final outcome will only come in May. Economic data from China was broadly positive, with improving growth numbers for industrial production and retail sales, and stable Q1 GDP growth at 6.4%. Oil prices rose further in April to USD73, as the US decided to end exemptions from sanctions for countries still buying Iranian crude.

Fund allocation

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Name Sector Weight
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Fund Classification

YesNoN/A 
Voting
Engagement
ESG integration
Exclusion
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Integration
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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Two important global factors have turned to a positive direction very recently. Fed Chairman Jerome Powell sent a more dovish message on interest rate increases this year, and the headlines on the China-US trade negotiations indicated that a trade deal had become more likely. However, the recent decision by president Trump to increase import tariffs on USD 200 bln of Chinese goods shows tensions between the two parties have risen again, and that the negotiations are now in a critical phase. Emerging markets remain attractively valued at around a 20% to 25% discount to developed markets, while average GDP growth will be around 4% versus 2% in developed markets. Earnings expectations, however, are still coming down, although they are not particularly high with growth estimated at 6%. Finally, sentiment has improved with renewed inflows into the asset class.

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
Size of share class
Outstanding shares
ISINLU1215391449
BloombergRCGREIE LX
Valoren27809232
WKNA14U5M
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
Max exit 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 0.01% 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.

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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Neither information nor any opinion expressed on the website constitutes a solicitation, an offer or a recommendation to buy, sell or dispose of any investment, to engage in any other transaction or to provide any investment advice or service. An investment in a Robeco product should only be made after reading the related legal documents such as management regulations, prospectuses, annual and semi-annual reports, which can be all be obtained free of charge at this website and at the Robeco offices in each country where Robeco has a presence.

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