Robeco Pension Return Portfolio I EUR
- Equity-like return at lower risk
- Well-diversified portfolio
- Customized retirement investing
About this fund
Price development
Performance
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundPerformances.date,'llll') ]}}| Fund | Reference index | |
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| 1 month | ||
| 3 months | ||
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| 1 year | ||
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| 3 years | ||
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| 10 years | ||
| {{'fund.detail.performance.period.sinceInception' | labelize:[ fundDate(fund.fundPerformances.sinceStart.startDate,'MM-YYYY') ]}} |
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 | |
|---|---|---|
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
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}Based on transaction prices, the fund's return was 3.11%. Most risky asset classes performed well in September, with global equities leading the pack. The exception was high yield bonds which realized a small negative return for the month. Value equities outperformed other equity styles. As in previous months, global high yield bonds were underweight in the portfolio. Equities were slightly overweight, which attributed positively to the overall performance.
Statistics
{{'fund.detail.general.perDate' | labelize:[ fundDate( (fund.fundStatistics.date?fund.fundStatistics.date:fund.fundCharacteristics.date) ,'llll') ]}}| 3 years | 5 years | ||
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| Hit ratio (%) | |||
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| Hit ratio Bull (%) | |||
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| Hit ratio Bear (%) |
| Fund | Reference index | ||
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| Rating | |||
| Option Adjusted Modified Duration (years) | |||
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| Yield to Worst (%) |
Market development
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}The economic picture remains unclear. Globally, manufacturing data keeps disappointing and this makes people cautious. On the other hand, the services sector still seems pretty healthy although some slowing seems to be taking place. Overall, the consumer side and the labor markets remain in good shape. Financial markets have difficulty digesting these conflicting signals about the economy, and are jittery. On top of this, the trade dispute and Brexit linger on. Geopolitical tensions also remained high due to the situation in Hong Kong and the attack on a Saudi oil facility. A comfort for the markets is that several central banks across the globe have eased monetary policy. The central bank put is still very much alive. Given these challenging circumstances, financial markets and particularly the more risky segments, like equity markets, did not do too badly this month.
Fund allocation
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundAllocations.date,'llll') ]}}| Name | Sector | Weight |
|---|---|---|
Fund Classification
| Yes | No | N/A | ||
|---|---|---|---|---|
| Voting | ||||
| Engagement | ||||
| ESG integration | ||||
| Exclusion |
| Yes | No | N/A | ||
|---|---|---|---|---|
| Screening | ||||
| Integration | ||||
| Sustainability Themed Fund |
Currency policy
The fund may use derivatives for currency risk hedging and for actively taking positions in currencies in order to generate additional returns.
Dividend policy
The fund does not distribute dividend.
ESG Integration policy
The Robeco Pension Return Portfolio fund mainly invests in Robeco funds. Robeco strives to incorporate ESG issues in investment decisions. For the vast majority of the investments ESG integration applies 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. Such funds are currently out of scope of the sustainability screening.
Investment policy
The Robeco Pension Return Portfolio is aimed at achieving a better risk-reward ratio than an ordinary equity portfolio. To this end, the investments are diversified across various asset classes, which can also include high yield corporate bonds and bonds from emerging markets, with the goal of achieving a risk-reward ratio that is better than the benchmark index, the MSCI World, in the long run. The portfolio is allocated to an optimally diversified mix of passive funds, Robeco funds and/or funds of external asset managers. In the process, the allocation over the asset classes, the selection of funds and composition of this well-diversified portfolio are actively managed, whereby the current vision with regard to future return opportunities is integrated in the portfolio. The Robeco Pension Matching Portfolio can be used in combination with the Robeco Pension Return Portfolio to reduce exposure to investment risk up until retirement. Initially, more money is invested in the Robeco Pension Return Portfolio. As the retirement date draws closer, more and more is invested in the Robeco Pension Matching Portfolio. This one is geared more to stabilizing the future (actual) benefit, by adjusting the interest rate risk of the portfolio to the interest rate risk of a future pension annuity benefit. With these two portfolios, it is possible to take customized approach during the period of pension accrual.
Risk policy
Risk management is fully integrated into the investment process to ensure that positions always meet predefined guidelines.
Expectation of fund manager
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}In September, we increased the risk profile of the portfolios by increasing the equity weights. Although economic data remains inconclusive and geopolitical tensions increased, trade tensions eased. Trade tensions remain a big driver of current market sentiment and as long as that is the case any easing of tension tends to be positive for equity markets. Another positive for the markets is that it is evident that central banks are willing to provide support. Our current positioning is more in line with our long-term view that we are not heading into an immediate recession. We are however in the later stages of the cycle, a phase in which normally equities tend to do quite well.
Jeroen Blokland
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.
Details
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}| Management company | |
| Fund capital | |
| Size of share class | |
| Outstanding shares | |
| ISIN | LU0743697152 |
| Bloomberg | ROBPRPI LX |
| Valoren | 14937893 |
| WKN | |
| Availability | |
| 1st quotation date | 1331596800000 |
| Close financial year | 31-12 |
| Legal status | |
| Tracking error limit (%) | |
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| Reference index |
Cost of this fund
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundCosts.managementFees.date,'llll') ]}}Ongoing charges |
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| This fund deducts ongoing charges of |
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| Management fee | ||
| Service fee | ||
Transaction costs |
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| The expected transaction costs are |
Performance fee |
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| 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 0.01% 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
Investors who are not subject to (exempt from) Dutch corporate-income tax (e.g. pension funds) are not taxed on the achieved result. Investors who are subject to Dutch corporate-income tax can be taxed for the result achieved on their investment in the fund. Dutch bodies that are subject to corporate-income tax are obligated to declare interest and dividend income, as well as capital gains in their tax return. Investors residing outside the Netherlands are subject to their respective national tax regime applying to foreign investment funds. We advise individual 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.
