Robeco Global FinTech Equities FH CHF
- Invests in stocks of companies all over the world which benefit from the increasing digitization of the financial sector
- 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
Performance
Performance
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundPerformances.date,'llll') ]}}| Subject | Fund | Reference index |
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| {{'fund.detail.performance.period.sinceInception' | labelize:[ fundDate(fund.fundFacts.inceptionDate,'LL') ]}} |
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{{fund.fundPerformancePeriods.returnType}} (value of holdings in the fund at which they are traded)
Statistics
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundStatistics.date,'llll') ]}}| Subject | 3 years | 5 years | |
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Market development
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}Both absolute and relative performances were positive, leading to a very strong result for the month of August. In our previous portfolio management update we already indicated that, from a fundamental perspective, the quarterly numbers look good and seem on track versus our long-term outlook. Most companies in our portfolio reported second quarter earnings. Close to 93 percent of our holdings exceeded projected revenues and 98 percent exceeded projected earnings. Average sales growth for all our holdings was close to 15%, with earnings growing 42%. Earnings growth tends to be a bit distorted due to the US, though. Tax decreases, repatriation and stock-repurchasing are inflating earnings throughout the sectors. Most of these effects are only temporary and we expect clearer differentiation in earnings growth once undistorted earnings expectations are reported again. A suggestion could be to compare top-line growth versus valuation for the time being. Global sales growth was roughly 8% for the quarter versus 15% for our FinTech portfolio.
Fund Classification
| Description | Yes | No | N/A | |
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| ESG integration | ||||
| Exclusion |
| Description | Yes | No | N/A | |
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| Sustainability Themed Fund |
Fund allocation
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundAllocations.date,'llll') ]}}| Name | Sector | Weight |
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Currency policy
All currency risks are hedged.
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
For Robeco Global FinTech Equities, we combine fundamental analysis with proprietary Robeco quantitative models and sustainability data from RobecoSAM and Sustainalytics, with a particular focus on governance issues.
Investment policy
Robeco Global FinTech Equities invests in stocks of companies all over the world which benefit from the increasing digitization of the financial sector. The selection of these stocks is based on fundamental analysis. Proprietary valuation models are used to select stocks with good earnings prospects and a reasonable valuation. Companies are individually assessed on the basis of industry trend analysis, in-depth discussions with corporate management, analysts and industry experts. Fintech comprises of several very strong underlying trends, which we believe will drive strong growth in an industry which has changed substantially since the global financial crisis. We believe this is reflected in the following trends: online payments will become mainstream, cash the exception; financial inclusion drives Asia to become the largest fintech hub; software is a key building block for the digitization of the financial sector.
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') ]}}M&A in payments continues, as scale is still the name of the game in payments. And that mantra is global. Interest rates are generally expected to increase in 2018. It is not a question of if, but a question of when, and how fast. FinTech provides a natural hedge in the interest rate discussion. If interest rates are rising and volatility returns to the equity markets, our investments in exchanges and ETF market makers, for example, work as a natural hedge. One of our core beliefs is that Asia (especially China, Singapore and India) will become the FinTech center of the world in terms of latest technologies and highest adoption levels. We expect to increase our position in Asian FinTech companies in 2018 and beyond.
Patrick Lemmens, Jeroen van Oerle
Mr. Patrick Lemmens is a Senior Portfolio Manager. He is the Lead Portfolio Manager of Robeco New World Financials Equities fund. He has been responsible for this fund since October 2008. Prior to joining Robeco in 2008, Patrick was employed at ABN AMRO Asset Management as a Senior Portfolio Manager for 5 years and 9 years as a Senior Investment Analyst, both in Global Financials. He managed the ABN AMRO Financials Fund between October 2003 and December 2007. Patrick started his career in the investment industry in 1993. He holds a Master's degree in Business Economics from the Erasmus University Rotterdam and is a CEFA holder since 1995. He is registered with the Dutch Securities Institute. Jeroen van Oerle is Portfolio Manager Fintech Equities in the Trends Investing team at Robeco. Previously, he was a Trend Analyst, researching investment related trends in the financial sector. Jeroen has been active in the industry since 2013, the year he joined Robeco. He holds a Master’s degree in Financial Economics from Erasmus University Rotterdam and is a CFA charter holder.
Details
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}| Management company | Robeco Luxembourg S.A. |
| Fund capital | |
| Outstanding shares | |
| ISIN | LU1857098252 |
| Bloomberg | RGFEFHC LX |
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| WKN | |
| Availability | LU |
| 1st quotation date | 1533168000000 |
| Close financial year | 31-12 |
| Legal status | Investment company with variable capital incorporated under Luxembourg law (SICAV) |
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Cost of this fund
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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.
