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Robeco Next Digital Billion S CHF

Index: MSCI Emerging Markets Index
ISIN: LU2400458936
  • This new strategy is a combination of our Emerging Markets and our Trends Investing capabilities and it is the world’s first Emerging Market Technology trend fund that focuses on a new generation of internet users
  • Identifies companies that have the potential to be long-term winners in trends like payments, ecommerce, software solutions, fintech, etc
  • Evident focus on information technology and consumer discretionary
Asset class
Current price ()
Performance YTD ()
Currency CHF
Total size of fund ()
Dividend payingNo

About this fund

Robeco Next Digital Billion is an actively managed fund that invests in companies in emerging markets. The selection of these stocks is based on fundamental analysis. The fund's objective is to achieve a better return than that of the index.The fund selects companies with high growth potential that aim to cater to the previous and next billion internet users. Many of the targeted emerging countries now have a critical mass in internet penetration and coupled with the absence of traditional economic infrastructure, this can lead to the emergence of the next wave of technology companies and value creation.

Price development

No performance data available

Price development

Robeco Next Digital Billion S CHF

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.

Statistics

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Market development

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October was very much a tale of diverging markets. On the weak end, Brazil is the story of October. The MSCI Brazil Index was down, registering one of its sharpest monthly declines for the year. The overall macroeconomic climate in Brazil is delicate at the moment, resulting from a combination of factors including political unrest and an upcoming election, coupled with elevated inflation pressures, which has caused domestic interest rates to rise while the economy is still impacted by the Covid pandemic. In October, the Brazilian central bank implemented the largest interest rate hike since 2002, with a further hike expected for December. On an optimistic note, underlying trends remain strong, and we expect our companies will work through the macro headwinds. We also think that the current correction has created attractive valuations, given the growth outlook. The strongest markets for October were India and Russia. The Russian market behaved similarly to that of India in October in terms of intra-month movements.

Fund allocation

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Name Sector Weight
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Currency policy

The fund can engage in currency hedging transactions. Typically currency hedging is not applied.

Dividend policy

The fund does not distribute dividend. The fund retains any income that is earned and so its entire performance is reflected in its share price.

ESG Integration policy

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 proxy voting and engagement.

Investment policy

Robeco Next Digital Billion is an actively managed fund that invests in companies in emerging markets. The selection of these stocks is based on fundamental analysis. 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, next to proxy voting and engagement. The fund selects companies with high growth potential that aim to cater to the previous and next billion internet users by improving access to technology and innovating with digital solutions in local communities.

Risk policy

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

Sustainability profile

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Exclusions

Full ESG Integration

Voting & Engagement

ESG Target

ESG score target Footprint target
↑Above Index ↓Below Index

ESG Score

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The portfolio ESG score (and E,S and G score) is calculated by multiplying the RobecoSAM Smart ESG Score of each holding by its respective portfolio or index weight. The same methodology is applied in calculating the key ESG Criterion scores. The scores of the portfolio are provided alongside the scores of the index, highlighting the portfolio’s relative sustainability. The colors indicate the score of the portfolio, whilst the shading shows the index.

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Environmental Footprint

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The RobecoSAM footprint ownership of the portfolio expresses the total resource consumption the portfolio finances. Each company's footprint is calculated by normalizing resources consumed by the company's enterprise value. Multiplying these values by the dollar amount invested in each company yields the aggregate footprint ownership figures. The selected index's footprint (for an equivalent $ amount invested in corporates) is provided alongside. The portfolios score is shown in blue and the index in grey.

CGF NDB_20211031-CGFNDB_20211031-footprintOwnershipCo2.png
Robeco data based on Trucost data. *
CGF NDB_20211031-CGFNDB_20211031-footprintOwnershipWaste.png
Source: Data based on RobecoSAM impact data.
CGF NDB_20211031-CGFNDB_20211031-footprintOwnershipWater.png
Source: Data based on RobecoSAM impact data.
* Source: S&P Trucost Limited © Trucost 2021. All rights in the Trucost data and reports vest in Trucost and/or its licensors. Neither Trucost, not its affliates, nor its licensors accept any liability for any errors, omissions, or interruptions in the Trucost data and/or reports. No further distribution of the Data and/or Reports is permitted without Trucost's express written consent.

ESG integration policy

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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 proxy voting and engagement.

Expectation of fund manager

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As we enter the earnings season, we are optimistic about the potential portfolio performance through the end of the year. For the portfolio positions which have already reported earnings, most have not only beat expectations but also revised guidance upwards through year-end and sometimes through FY22 and beyond. In some cases, companies have issued preliminary earnings previews to investors in light of stock price pressure caused (i) by macro factors and regulation or (ii) other non-correlated market factors that investors mistakenly link with portfolio holdings (e.g. real estate developer defaults in China). We consider the positive numbers already reported by our holdings to not only be indications of potential strong earnings results for similar companies in our portfolio who have yet to report, but more broadly a powerful sign of the underlying demand for the products/services created by companies catering to the next billion.

Michiel van Voorst, CFA, Bryan Satterly
Michiel van Voorst, CFA, Bryan Satterly

Michiel van Voorst, CFA, Bryan Satterly

Michiel van Voorst is Co-Portfolio Manager Robeco New World Financials and member of the Trends Equities team. He is also Portfolio Manager Robeco FinTech and Robeco Next Digital Billion. In 2019, Michiel rejoined Robeco from Union Bancaire Privée in Hong Kong where he was CIO Asian Equities. Besides this role, Michiel is a Board member of a Hong Kong based Fintech startup offering regulated software services (SaaS) for Independent financial advisors globally. Prior to that, Michiel spent 12 years at Robeco in several senior positions including senior portfolio manager Rolinco Global Growth fund and Robeco Asian Stars. Prior to joining Robeco in 2005, Michiel was Portfolio Manager US Equity at PGGM and Economist with Rabobank Netherlands. Michiel started his career in the investment industry in 1996. Michiel van Voorst holds a Master’s in Economics from University of Utrecht and is a CFA® charterholder. Bryan Satterly is Portfolio Manager and a member of the Robeco Trends Equities team. Prior to this role, Bryan was an investment manager for Robeco’s Private Equity group where he was responsible for group exposures in emerging markets, venture capital and co-investments. He joined Robeco in 2018. Before that he was an investment analyst in Washington D.C. for the Venture Capital Group at IFC, the World Bank Group’s private sector investment arm, investing into technology companies across emerging markets. He started his career in 2013 as an investment banking analyst at BMO Capital Markets in New York, working on a variety of equity, debt and M&A transactions in the Healthcare and Real Estate sectors. Bryan holds a Bachelor’s degree in Foreign Service from Georgetown University in Washington D.C.

Details

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Management company
Fund capital
Size of share class
Outstanding shares
ISINLU2400458936
BloombergRONDBSC LX
Valoren
WKN
Availability
1st quotation date1635206400000
Close financial year31-12
Legal status
Tracking error limit (%)
Reference index

Cost of this fund

Ongoing charges

This fund deducts ongoing charges of
These charges comprise
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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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