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Robeco Global Growth Trends Equities M2 EUR

Reference index: MSCI All Country World Index (Net Return, EUR)
ISIN: LU1945299706
  • Invests in the structural trends worldwide (e.g. "the digital world" and the Industrial Renaissance)
  • Top-down theme selection and bottom-up stock selection using proprietary valuation models
  • Risk limitation through global diversification
Assets class
Current price ()
Performance YTD ()
Currency EUR
Total size of fund ()
Dividend payingNo

About this fund

Robeco Global Growth Trends Equities invests in stocks in developed and emerging countries across the world. The selection of these stocks is based on fundamental analysis. The fund focuses on growth by primarily making allocations to promising long term growth trends and invests in four different and independent top down trends: Digital World, Emerging Middle Class, Industrial Renaissance and Getting Old & Staying Healthy. Within the identified growth trends, the fund invests dominantly into stocks of companies that have as pure as possible exposure to the trends.

Price development

No performance data available

Price development

Robeco Global Growth Trends Equities M2 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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During September, macroeconomic data continued to disappoint, signaling a persistent slowdown in manufacturing. New issues like the bombing of Saudi oil pumps, tensions in the US repo market and impeachment were added to the global list of geopolitics. The real excitement, however, came from the brutal switch in equity markets that started when growth and momentum stocks were switched into value names. There was no obvious trigger for the switch, but it coincided with the US and Germany starting to talk about looser fiscal policy on the back of slowing growth. If this were to get growth going again, one could argue there is less reason to invest in growth companies. It led to a vicious unwinding of consensus trades like in cybersecurity, software and payment names, with money moving to banks and cyclicals. As a result, the MSCI AC World Growth Index underperformed the Value Index by 3%. The bigger appetite for value drove up the Japanese market by 5.8% in local currencies and kept a lid on Wall Street, which only rose 1.9%. Eurozone markets did pretty well with a rise of 4.3% in EUR.

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 can engage in currency hedging transactions.

Dividend policy

The fund does not distribute dividend. The fund retains any income that is earned, and so its entire performance is reflected in its share price.

ESG Integration policy

Robeco Global Growth Trends Equities integrates ESG factors into its investment process by analyzing the impact of financially material ESG factors to a company’s competitive position and value drivers. We believe that this enhances our ability to understand existing and potential (long-term) risks and opportunities of a company. The impact of material ESG factors can be positive or negative, reflecting risks or opportunities, that ensue from a company’s ESG analysis. If ESG risks and opportunities are significant, the ESG analysis could impact a stock’s fair value and the portfolio allocation decision. In addition to ESG integration, Robeco also has an exclusion policy and conducts proxy voting and engagement activities focused on specific themes, such as climate change, aiming to improve a company’s sustainability profile.

Investment policy

Robeco Global Growth Trends Equities' investment style focuses on growth by primarily making allocations to promising trends. Rolinco invests in minimum three and maximum four different and independent top-down growth trends. The fund then invests directly into stocks of companies that have as pure as possible exposure to one of these trends. The selection of the trends is the first and most important step in the investment process, as they define the investment universe from which stocks are selected. Current trends that Robeco Global Growth Trends Equities has selected are Digitalization', 'The emerging middle-class', 'The Industrial Renaissance' and 'Getting old and staying healthy'. Robeco Global Growth Trends Equities can anticipate currency developments through active currency management. Risk management is fully integrated in the investment process to ensure that positions meet predefined guidelines. The fund can hold a limited cash position. 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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Most economic indicators have been pointing towards a slowdown in economic growth since the start of the year. The industrial side of the world economy is already shrinking and we expect that business spending will continue to be constrained as long as there is no certainty. As consumption is still growing and unemployment levels are record low in most countries, it is not realistic to assume recessions will occur in Western countries in the remainder of this year. In this challenging environment, we prefer companies with a sustainable and secular earnings growth profile and try to find these growth companies by looking at long-term trends from a top-down perspective. In this era, thanks to digitization and new technologies, we will be able to cure most diseases, make financial services cheaper and more accessible to all and increase our labor productivity sustainably. Stocks that provide the tools and technology for this will grow revenues and cash flows much faster than anyone expects.

Henk Grootveld, Marco van Lent & Vera Krückel, CFA
Henk Grootveld, Marco van Lent & Vera Krückel, CFA

Henk Grootveld, Marco van Lent & Vera Krückel, CFA

Henk Grootveld, Executive Vice President, is head of the Trends Investing Equity team. He is manager of Robeco Global Growth Trends since November 2013 and manager of Rolinco since 2009. Henk Grootveld joined Robeco in 2001 and has been head of the Financials team, head of the European team, head of the Consumer Staples team and a member of the North American Equities team. Prior to joining Robeco, Mr. Grootveld was employed by Aegon Asset Management as a portfolio manager European Equities and at ING Barings as an equity strategist. Henk holds a Master's degree in Operation Research/ Econometrics From Erasmus University in Rotterdam. Marco van Lent is a member of the Robeco Trends Investing Equity team since December 2010 and since November 2013 portfolio manager of Robeco Global Growth Trends/ Rolinco. 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. Vera Krückel is a member of the Robeco Trends investing team and portfolio manager of Robeco Global Trends/ Rolinco since July 2019. Since June 2017 Vera Krückel is also trend researcher within Trends Investing. She started at Robeco doing the international trainee program after which she was a global sector specialist for 5 years. Before joining Robeco in 2010, she was employed by Ernst & Young as an Advisor for Financial Performance Improvements. Before that, she worked in the Investment Banking division of BNP Paribas in London. Vera Krückel holds a Master’s degree in Finance from the Università Bocconi in Milan, Italy.

Details

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Management company
Fund capital
Size of share class
Outstanding shares
ISINLU1945299706
BloombergROGGM2E LX
Valoren46618862
WKN
Availability
1st quotation date1550707200000
Close financial year31-12
Legal status
Tracking error limit (%)
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

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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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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