Robeco Indian Equities F EUR

MSCI India (USD) rose 5.1% in February, significantly outperforming its peers MSCI EM (+4.4%) and MSCI APxJ (+3.8%) in the post-budget rally. The INR depreciated by 0.7%, ending the month at 73.47/USD. For the month, utilities, energy and industrials outperformed, while staples and IT were laggards. FIIs recorded monthly inflows of USD 4.1 bln into equities and remained net sellers in debt markets with outflows of USD 868 mln. 20Q4 GDP growth came in at 0.4% YoY, underpinned by weak service sector growth. FY21Q3 corporate results were better than expected; adjusted PAT for the BSE All Cap Index grew 33% YoY in FY21Q3. The RBI kept policy rates on hold, reiterating its accommodative stance. With growth being a priority, the fiscal deficit is now estimated at 6.8% in FY22BE versus consensus estimates of 5.5%. This clearly shows the government's intent to revive economic growth through the investment cycle.

The fund is allowed to pursue an active currency policy to generate extra returns.

The fund does not distribute dividend; any income earned is reinvested.

Robeco Indian 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.

Robeco Indian Equities is an actively managed fund that invests in stocks listed on the major Indian stock exchanges. The selection of these stocks is based on fundamental analysisThe fund's objective is to achieve a better return than the index. The fund promotes ESG (i.e. Environmental, Social and corporate Governance) characteristics within the meaning of Article 8 of the European Sustainable Finance Disclosure Regulation and integrates ESG and sustainability risks in the investment process. In addition, the fund applies an exclusion list on the basis of controversial behavior, products (including controversial weapons, tobacco, palm oil and fossil fuel) and countries, next to voting and engaging. The fund focuses on largecap stocks, supplemented by select high-conviction midcap stocks. Managed by our Asia-Pacific team in Hong Kong, the fund combines the market expertise of local Indian investment adviser Canara Robeco (Mumbai) with Robeco's operational strength as an international asset manager.The majority of stocks selected through this approach will be components of the Benchmark, but stocks outside the Benchmark index may be selected too. The fund can deviate substantially from the weightings of the Benchmark. The fund aims to outperform the Benchmark over the long run, whilst still controlling relative risk through the applications of limits (on countries, currencies and sectors) to the extent of deviation from the Benchmark. This will consequently limit the deviation of the performance relative to the Benchmark. The Benchmark is a broad market weighted index that is not consistent with the ESG characteristics promoted by the fund.

Monitored by an independent department in Rotterdam, risk management is fully integrated into the investment process to ensure that positions always meet predefined guidelines.