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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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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 -5.18%. The performances of the Robeco Life Cycle funds were negative last month due to the negative sentiment on both the equity and bond markets. Equities already had an overweight position in the portfolios at the start of the month. In the last days of the month, the stock markets rose, but that could not offset the earlier losses. We have a strategic bias to emerging markets in the portfolios. So the life cycle funds with a longer tenor and more exposure to emerging markets suffered from the sharp decline in emerging markets. We have a neutral weight for bonds, with a lower than average weight for government bonds. This contributed negatively as investors sought safe havens last month. Most bond categories had a tough month and this also added to the negative portfolio returns, especially for the funds with a shorter tenor.

Statistics

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Above mentioned ratios are based on gross of fees returns
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Above mentioned ratios are based on gross of fees returns
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Market development

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Although equity markets rose towards the end of the month, the damage was already done. All equity markets declined sharply. The turmoil was mainly caused by the quarterly results, which were not as good as expected. In Europe, the discussions around Brexit and the Italian budget added to the turbulence. And also interest rates rose further. But all in all, things did not really change economically. The US economy is still doing fine and there are no signs of a recession. Emerging markets also declined, despite the soaring Brazilian market. Asian equity markets suffer from the trade war between China and the US. The oil price also declined, by nearly 10%. The main reason was that supplies turned out to be not as tight as expected earlier. Investors turned to safe havens like German Bunds and French government bonds. Corporate bonds fell as risk premiums rose. Gold suddenly was an attractive asset class, after having been ignored for a long time.

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. On a regional level, we have a slight preference for US equities at this moment. As we think most 'bad news' is already reflected in their current market prices, we lifted the weight of emerging markets to neutral last month. Regarding bonds, we are neutral on most categories, however not on high yield bonds. Although we have an underweight position, we do see some signs of improvement, but it is too early to move to a more positive stance.

Ruud van Suijdam
Ruud van Suijdam

Ruud van Suijdam

Mr. Ruud van Suijdam is Portfolio Manager Global Allocations at Robeco since June 2011. From October 2007 to June 2011, Ruud worked for Rabobank Nederland as an Analyst/ Product manager for Investment funds. Previous affiliations include a position as Investment Analyst at IRIS and a position as Investment Advisor at Rabobank. Ruud holds a Master's degree in Financial Economics from the University of Groningen.

Details

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Management company
Fund capital
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
Max sub fee
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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