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 | |
|---|---|---|
| 1 month | ||
| 3 months | ||
| YTD | ||
| 1 year | ||
| 2 years | ||
| 3 years | ||
| 5 years | ||
| 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 1.42%. The Robeco Pension Return Portfolio realized a positive return of almost 2% in July, the second month in a row with a good performance. Again, equities were the best-performing asset class. Developed market equities realized a solid return, even though they struggled towards the end of the month, and they outperformed emerging markets equities. As in June, other risky assets such as high yield bonds and emerging debt also realized strong returns in July.
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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| Max. monthly loss (%) |
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| 3 years | 5 years | ||
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| Hit ratio Bull (%) | |||
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| Months outperformance Bull |
| Fund | Reference index | ||
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| Option Adjusted Modified Duration (years) | |||
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| Rating | |||
| Yield to Worst (%) |
Market development
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}In July it was all about the major central banks. Both the ECB and the Fed indicated in their previous meetings that they were willing and ready to act. It was therefore not a big surprise that, awaiting the central bank meetings of July, market expectations were high. Although Powell and Draghi did their best to convince the markets of their determination, the general feeling was that both underdelivered.Confidence was also dented by the economic numbers, which remained on the weak side in general. While the service side of most economies continues to be resilient, the manufacturing sector continues to weaken.In the beginning of the month, it seemed trade negotiations were at least not deteriorating. Add to this that second quarter earnings were not as bad as expected and an opportunity opened up for equities to move higher, which in fact they did. The Standard & Poor's 500 Index (an equity index that represents performance for the 500 largest US companies) even touched a new all-time high. Failure from the US Federal Reserve to fully live up to market expectations dented market confidence and downward pressure started to build. This was felt in both rates and equities.
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') ]}}Confidence is dented by the fact that economic numbers remain on the weak side in general. While the service side of most economies continues to be resilient, the manufacturing sector continues to weaken. The weakening of global trade and this loss of confidence is eating away at the manufacturing sector globally. This will continue as long as the trade dispute is not resolved.
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 (%) | |
| Morningstar |
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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 |
| These charges comprise | ||
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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 | ||
| 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 0.01% 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.
