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Robeco Multi Asset Growth G EUR

Index: 75% MSCI All Country World Index (EUR) + 25% Bloomberg Global Aggregate (hedged to EUR)
ISIN: LU1387748996
  • Worldwide investments in multiple asset classes
  • Focus on capital growth maximization
  • Flexibility to seek the best risk-return opportunities
Asset class
Current price ()
Performance YTD ()
Currency EUR
Total size of fund ()
Dividend payingYes

About this fund

Robeco Multi Asset Growth is an actively managed global multi asset fund. The fund's objective is to achieve a better return than the index. The fund has a relatively high risk profile and uses asset allocation strategies mainly investing directly in equities and taking exposure to other asset classes such as bonds, deposits and money market instruments. The asset allocation strategy is subject to investments and volatility restrictions. The portfolio management team can also use other investment instruments to enhance the riskreturn profile of the fund.

Price development

No performance data available

Price development

Robeco Multi Asset Growth G EUR

Performance

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Fund 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 2.05%. Multi Asset Growth delivered a more than decent performance in August. The fund closed the month with a return of above 2%. The portfolio benefited from the strong performance of equity markets. After a brief period of weakness, equity markets rebounded sharply and several major indices moved on to reach new all-time highs. For our allocations to government bonds and high-quality corporate bonds it was a difficult month. Both asset classes suffered from the rise in yields. Our tactical tilts added to the overall performance last month. The main contributor to this performance was our decision to hold a lower exposure to government bonds. Our preference for value stocks was a small drag on performance. We made one major adjustment to our portfolio last month. We lowered our exposure to Japanese equities and increased our exposure to US equities. The fund continues to hold a higher exposure to European equities. The best-performing strategies in the portfolio were Robeco Sustainable Emerging Stars Equities and Robeco MegaTrends.

Statistics

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Above mentioned ratios are based on gross of fees returns
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Dividend paying history

Date Amount
Download dividend history

Market development

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The global recovery remains on track, but activity in both the services and manufacturing sectors is cooling down from very elevated levels. Many countries are still struggling with the Delta variant. Even though more breakthrough infections of vaccinated people are reported, the link between cases and hospitalization has clearly weakened. Yet, the surge in the Delta variant and the ending of stimulus payment checks has dented consumer confidence in the US. The number of macro data releases that disappoint is on the rise. The Citi macro-economic surprise indices for China, the Eurozone and the US have entered negative territory. Households are less exuberant and are in a wait-and-see mode, as stimulus checks have expired in the US. Also, supply chain constraints continue to hamper the economy. Currently, financial markets remain very much preconditioned to buy the dips, which propelled equity markets to new highs. Risky fixed income has lagged equity markets, as spreads have widened since the end of June. Global HY (hedged to euros) gained 0.7% in August. Long-term yields in the US drifted modestly upward to the 1.3% level. Commodities have moved sideways in recent months.

Fund allocation

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Name Sector Weight
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Dividend policy

This share class of the fund will distribute dividend.

ESG Integration policy

Robeco Multi Asset Growth primarily invests in Robeco funds. Robeco strives to incorporate ESG issues in investment decisions. For the majority of the investments ESG integration occurs 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 can be selected. Such funds are currently out of the scope of the sustainability screening.

Investment policy

Robeco Multi Asset Growth is an actively managed global multi asset fund. The 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. The fund has a relatively high risk profile and uses asset allocation strategies mainly investing directly in equities and taking exposure to other asset classes such as bonds, deposits and money market instruments. The asset allocation strategy is subject to investments and volatility restrictions. The portfolio management team can also use other investment instruments to enhance the riskreturn profile of the fund. The majority of investment instruments selected through this approach will be components of the Benchmark, but investment instruments outside the Benchmark index may be selected too. The fund can deviate substantially from the weightings of the Benchmark. The investment policy is not constrained by a benchmark but the fund may use a benchmark for comparison purposes. The fund can take a substantial active risk. The fund can deviate substantially from the issuer, country and sector weightings of the Benchmark. There are no restrictions on the deviation from the Benchmark. The Benchmark is a broad market weighted index that is not consistent with the ESG characteristics promoted by the fund.

Risk policy

Risk management is fully integrated in the investment process to ensure that the positions always meet predefined guidelines.

Sustainability profile

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Exclusions

Full ESG Integration

Voting & Engagement

ESG integration policy

{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}

Robeco Multi Asset Growth primarily invests in Robeco funds. Robeco strives to incorporate ESG issues in investment decisions. For the majority of the investments ESG integration occurs 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 can be selected. Such funds are currently out of the scope of the sustainability screening.

Expectation of fund manager

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We find that the so-called 'reflation theme' of above-trend economic growth and rising inflation still has legs. We expect the non-cyclical parts of the core CPI basket to remain elevated due to continuing high input costs. Also, we expect to see a rising contribution from owner equivalent rent in the US CPI numbers towards year-end. The market is more relaxed about inflation, as it expects it to be transitory. We tend to disagree with the market and expect investors to demand a higher inflation compensation for sovereign bond exposure in the medium term. More bond volatility could be underway, as the Fed will face difficulties separating the tapering from the tightening discussion in their market communications. We remain optimistic about risk-bearing assets. Within equities, we look for attractive regions that are relatively cheap and benefit from higher interest rates as economies continue to reopen if the Delta variant proves manageable. We have a portfolio tilt towards value stocks. We favor Europe over US equities. As a result of the historically low spreads on high-quality corporate bonds and their high interest-rate sensitivity, we think this asset class is less attractive.

Ernesto Sanichar
Ernesto Sanichar

Ernesto Sanichar

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
ISINLU1387748996
BloombergRMAGRGE LX
Valoren32029430
WKNA2PQDV
Availability
1st quotation date1473379200000
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.

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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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