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Robeco Multi Asset Income E EUR

ISIN: LU1387747915
  • Worldwide investments in multiple asset classes
  • Focus on investments with attractive and stable sources of income
  • 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 Income is an actively managed global multi asset fund with a focus on generating stable returns. The fund has a relatively low risk profile and uses asset allocation strategies mainly investing directly in bonds and taking exposure to other asset classes such as equities. The asset allocation strategy is subject to investments and volatility restrictions. The portfolio management team can also use other investment instruments to enhance the risk-return profile of the fund. The fund aims to outperform the benchmark over the long run.

Price development

No performance data available

Price development

Robeco Multi Asset Income E EUR

Performance

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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 0.53%. 2020 was a good year for Multi Asset Income. Over the full year, the fund delivered a performance of more than 3%. In December, the fund added more than 0.5% to the year-to-date performance. Towards the end of the month, the risk profile of the fund was lowered. While the tilt in the fund remains procyclical, we have become a bit more risk averse. We lowered risk in the portfolio through lowering the equity exposure of the fund. The portfolio continues to hold a sizable exposure to high yield and emerging market debt. Also, we maintained our position in commodities, as we continue to think that this asset class has lagged the current cycle. Government bonds remain our least preferred asset class, as they offer a low yield and we expect some upward pressure on rates. Almost all strategies in the portfolio contributed positively to the overall return. The best-performing strategy in the portfolio was Robeco Sustainable Emerging Stars Equities.

Statistics

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Dividend paying history

Date Amount
Download dividend history

Market development

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In December 2020, the economy's positive growth momentum became more uneven as a result of the varying government responses to increasing Covid-19 cases since early October. Nonetheless, the leading ISM indicator picked up further in December to 60.7. In the Eurozone, the growth momentum decelerated after the number of lockdowns started to increase again. China also saw slower activity in the services sector, though overall economic activity levels there already exceeded end-of-2019 levels in the fourth quarter. The development of effective vaccines and the start of vaccination were game-changing. The prospect that in a not too distant future we will return to some sort of normality, continues to be the main tailwind for equity markets and other risky assets.In addition to the second wave of Covid-19, last month saw a number of other significant events. Despite a high level of bipartisan sentiment, Congress managed to pass a USD 900 bln stimulus bill and on Christmas Eve, the EU and the UK finally reached a trade deal.

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

Dividend policy

This share class of the fund will distribute dividend.

ESG Integration policy

Robeco Multi Asset Income 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 Income is an actively managed global multi-asset fund with a focus on generating stable returns. The fund has a relatively low risk profile and mainly invests in equity and bond funds of Robeco and RobecoSAM. The portfolio management team can also use other investment instruments to enhance the risk/return profile of the fund. The fund is managed by an experienced team of specialists in multi-asset investing with a proven track record of more than 20 years. The investment strategy also relies on the sustainability research of RobecoSAM. RobecoSAM is an investment specialist focused exclusively on Sustainability Investing with more than 20 years of experience in sustainability, thematic and impact investing.

Risk policy

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

Expectation of fund manager

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In our view, the economic recovery that has occurred over the past period may level off in the next few months due to the current intensification of the virus outbreak and the subsequent lockdowns. Towards the second half of 2021, we expect herd immunity to take hold. This is in line with market expectations and in our view has been fully discounted. Any hiccup (for instance issues with rolling out the vaccines, public resistance to vaccination, etc.) that could slow down the trajectory towards herd immunity may have a negative impact on the markets. Currently, market sentiment is very optimistic, according to various sentiment indicators. That's why we are currently giving equities a neutral weight in the portfolios. Within equities, we tilted the portfolio towards Europe and Japan at the expense of US equities. In response to increasing industrial demand, supply shortages and more fiscal stimulus ahead (potentially linked to infrastructure spending in the US), we continue to hold on to our exposure to commodities.We also think that government bond yields will experience some upward pressure over time, given the signs of inflationary pressures in the US.

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
ISINLU1387747915
BloombergRMAINEE LX
Valoren32029409
WKNA2AQ7J
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
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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.

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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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