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Robeco Global Stars Equities F EUR

Reference index: MSCI World Index (Net Return, EUR)
ISIN: LU0940004913
  • Concentrated portfolio
  • Focuses on companies with a high return on invested capital
  • Applies a disciplined approach to valuating companies
Assets class
Current price ()
Performance YTD ()
Currency EUR
Total size of fund ()
Dividend payingNo

About this fund

Robeco Global Stars Equities invests in stocks in developed countries across the world. The selection of these stocks is based on fundamental analysis. The fund has a concentrated portfolio of stocks with the highest potential value growth. Stocks are selected on the basis of high free cash flow, an attractive return on invested capital and a constructive sustainability profile.

Performance

No performance data available

Performance

Robeco Global Stars Equities F EUR

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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Global equity markets posted another strong month in August, despite concerns about elevated valuations, US-Chinese trade tensions and the turmoil in Turkey. The MSCI World Index had a total return of 1.8% last month, with especially the European financial sector feeling the brunt of the Turkish crisis. The materials sector also showed a weak performance, as the escalating trade rift between the US and China has led to a roll-over in commodity prices. Consumer discretionary and IT stocks were again among the best performing sectors, driven by the continued strength in the US internet and technology giants. Apple rose around 20% in August, making it the first US company to surpass the USD 1 trillion dollar market value mark. After having risen 13%, Internet giant Amazon, still classified under consumer discretionary, is not far behind.

Fund Classification

DescriptionYesNoN/A 
Voting
Engagement
ESG integration
Exclusion
DescriptionYesNoN/A 
Screening
Integration
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 and 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

An implementation milestone for the fund, is the successful translation of ESG value drivers into the target price of the analysed stocks. Material ESG factors are fully integrated in the valuation model and can in- or decrease the expected stock price. The key criterion to assess the value driver impact is how the ESG factors affect the company's competitive position. The method was developed over 2013 in collaboration with the Sustainable Investing team in Zurich, which offers proprietary ESG data and an intense dialogue to our equity analysts. From January 2014 onwards, all analyst are required to use this method in their investment cases, which has deepened our discussion and understanding of ESG issues.

Investment policy

Robeco Global Stars Equities uses a disciplined and rigorous selection process to find interesting stocks. Stocks are purchased mainly for their potential to increase in value. Fundamental analysis is carried out using a disciplined approach. The fund will not be constrained by its benchmark and stocks will be bought for their capital-appreciation potential. The fund can anticipate currency developments through active currency management. Risk management is fully integrated into the investment process to ensure that positions always meet predefined guidelines.

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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We are still relatively upbeat about the outlook for global equity markets for the coming year. Economic growth among the major developed economic blocks will continue to gather steam, while inflationary pressures are starting to appear in the US. We expect the Federal Reserve to continue tightening monetary policy, with at least three rate hikes in 2018 and further balance sheet reduction. Global stock markets can continue to perform reasonably well in such an environment, as long as the rate hikes are properly announced to the market and are aligned with a further pick-up in economic growth. We also think that the earnings environment remains largely positive, as we expect the domestic US economy to remain relatively robust in the wake of Trump’s tax restructuring, and that international economic growth remains supportive as well. Valuations in general seem more stretched in the US relative to international markets and, given the interest rate environment, we do not see much room for further multiple expansion.

Jan Keuppens, Michiel Plakman, CFA
Jan Keuppens, Michiel Plakman, CFA

Jan Keuppens, Michiel Plakman, CFA

Jan Keuppens, Executive Director, is the Head of the Global Equities team. Prior to joining Robeco in 2005, he worked as a Portfolio Manager for Quest Management, AXA IM and Corluy & CO. Jan Keuppens started his career in the investment industry in 1997. He holds a Master's degree in Applied Economic Sciences from the University of Leuven. Michiel Plakman is Portfolio Manager of Robeco Global Stars Equities Fund NV. Michiel Plakman is co-PM for the Global Stars fund. Previously, he was responsible for managing the Robeco IT Equities fund within the TMT team. Prior to joining Robeco in 1999, Michiel Plakman worked for two years as a Portfolio Manager Japan at Achmea Global Investors (PVF Pensioenen). From 1995 to 1997, he held a position as Portfolio Manager European Equities at KPN Pension Fund. Michiel holds a Master's degree in Econometrics from the Free University of Amsterdam and he is a CFA charter holder.

Details

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Management companyRobeco Luxembourg S.A.
Fund capital
Outstanding shares
ISINLU0940004913
BloombergROBGSFE LX
Valoren21528114
WKN
AvailabilityBE, LU, NL, ES, CH
1st quotation date1378252800000
Close financial year31-12
Legal statusInvestment company with variable capital incorporated under Luxembourg law (SICAV)
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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