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Robeco Life Cycle Fund 2040 F EUR

ISIN: LU0966309568
  • Capital accumulation towards a set end date
  • Gradual reduction of risk as the end date approaches
  • Professional asset management within one investment fund
Assets class
Current price ()
Performance YTD ()
Currency EUR
Total size of fund ()
Dividend payingNo

About this fund

Robeco Life Cycle Fund 2040 F EUR is an actively managed fund that invests in a global mix of asset classes like equity, bonds and cash. As the maturity date of the fund approaches, the mix is adjusted in order to provide a gradual investment risk reduction. This eliminates the need for investors to switch to another fund with an appropriate short term risk profile.

Price development

No performance data available

Price development

Robeco Life Cycle Fund 2040 F EUR

Performance

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Fund Reference index
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YTD
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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.

Performance explanation

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Based on transaction prices, the fund's return was -5.22%. May was the first month so far this year with negative returns on the equity markets. The allocation to bonds, which generated positive returns in May, could not offset these losses. The funds with a shorter tenor, which are mostly allocated to bonds, had relatively small negative returns. The funds with a longer tenor, which have a higher allocation to equities, had a more difficult month. We reduced the weight of emerging markets, which contributed negatively to the portfolio as the performance of emerging markets was even worse than the performance of developed markets. Robeco Euro Government Bonds returned 1.1% last month, which is relatively high for a fund like this.

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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Equities dropped sharply in May, after four months of rising equity markets. The broad MSCI World Index declined 5.2%. Although the perception might be different, equity markets still have gained around 10% so far this year. The main topic on the financial markets was the escalation of the trade war between the US and China. Investors were shocked when US President Trump blew up the negotiations with a series of tweets and they immediately turned to the usual safe haven: government bonds. The financial markets also turned their eyes to the Fed to see if it would give a signal that it was willing to cut interest rates in due time to counter the negative effects of the trade war. It is unclear yet what effect the trade war will have on economic growth, but investors did not wait for that and sold their equities right away. Emerging markets and especially China and other Asian markets declined even more than developed markets. As interest yields declined both in the US and in Europe, government bonds posted solid gains.

Fund allocation

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Name Sector Weight
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Fund Classification

YesNoN/A 
Voting
Engagement
ESG integration
Exclusion
YesNoN/A 
Screening
Integration
Sustainability Themed Fund

Currency policy

Currency risks are hedged to the base currency of the fund (EUR).

Dividend policy

This share class of the fund does not distribute dividend.

ESG Integration policy

The Robeco Life Cycle Fund primarily invests in funds of the Robeco Group. Robeco strives to incorporate ESG issues in investment decisions. For the vast majority of the investments we apply ESG integration indirectly. The ambition is to have ESG integration for the full composition of the portfolio. Sustainability can be a decisive factor in the fund-selection process. Capabilities from other asset managers might be selected if no comparable Robeco product is available. Such funds are currently out of the scope of the sustainability screening.

Investment policy

A well-diversified portfolio consists of a combination of equities, bonds and cash. The proportion between these three asset categories is mainly determined by the maturity date of the fund. The Life Cycle Funds mainly invest in Robeco funds, benefiting on a broad front from Robeco's expertise in investing. The fund's mix of investments means it has a very favorable risk/return profile. The aim is to maintain a risk profile matching the remaining maturity using an active mix policy.

Risk policy

Active. Risk-management systems continually monitor the portfolio's divergence from the benchmark, thereby avoiding extreme positions.

Expectation of fund manager

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We have an above average equity weight in the portfolios, with an accent on developed markets. As we believe the market has been overshooting in the last weeks, we acted contrary and increased our equity weight in the portfolios. On a regional level, the portfolios are less heavily tilted towards the US, and we rose the weight of emerging markets. We remain negative on most bond categories.

Jeroen Blokland, Ernesto Sanichar
Jeroen Blokland, Ernesto Sanichar

Jeroen Blokland, Ernesto Sanichar

Mr. Jeroen Blokland is Portfolio Manager with Robeco within the Robeco Global Allocation team. Jeroen is portfolio manager of the Robeco Pension Return Portfolio since the launch in March 2012. Prior to joining the Robeco Global Allocation team, he was employed by IRIS, the independent Institute for Research and Investment Services of Robeco and Rabobank, as an Investment strategist since 2005. He started his career at Interpolis in 2002, where he held a position as asset manager and investment strategist. Jeroen holds a Master's degree in Economics from Erasmus University, Rotterdam. Ernesto Sanichar is Portfolio Manager with a focus on pension fund mandates. His asset specialties are fixed income and FX. He has been part of Robeco's Investment Solutions department since 2005. Previously, he was Treasury Manager for four years. Prior to joining Robeco in 2001, Ernesto worked at ING Barings as a Product controller at the cash equities and derivatives desk for three years. Ernesto started his career in the investment industry in 1998. He holds a Master's in Financial Economics from Erasmus University Rotterdam.

Details

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Management company
Fund capital
Size of share class
Outstanding shares
ISINLU0966309568
BloombergRLC40FE LX
Valoren22205000
WKNA1XBLB
Availability
1st quotation date1384905600000
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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Max switch fee

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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