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Robeco QI Global Diversified Carry F EUR

ISIN: LU1241711487
  • Aims to generate income from equities, fixed income and currencies in developed markets.
  • Opportunity to diversify ones portfolio from traditional equities and bonds.
  • Liquid, transparant and systematic investment approach.
Assets class
Current price ()
Performance YTD ()
Currency EUR
Total size of fund ()
Dividend payingNo

About this fund

Robeco QI Global Diversified Carry invests in equity indices, fixed income markets and currencies throughout the world, such as Australia, Japan, Germany, UK and US. The aim is to continuously select the equity markets that will pay the highest dividends, the fixed income markets with the highest coupon payments, and the currencies with the highest short-term interest rates.

Performance

No performance data available

Performance

Robeco QI Global Diversified Carry F EUR

Performance

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Statistics

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Subject 3 years 5 years
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Market development

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Geopolitical risks in the form of Trump’s war rhetoric, Italy’s populist government, Erdogan’s hard stance in Turkey, resigning ministers in Australia and ongoing Brexit negotiations pushed markets down and drove investors into safer instruments.

Fund Classification

DescriptionYesNoN/A 
Voting
Engagement
ESG integration
Exclusion
DescriptionYesNoN/A 
Screening
Integration
Sustainability Themed Fund

Fund allocation

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Name Sector Weight
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Currency policy

Except for the active currency positions, currency risks are hedged to the base currency of the fund (EUR).

Dividend policy

This share class of the fund does not distribute dividend.

ESG Integration policy

ESG stands at the core of the fund and is integral to Robeco’s overall strategy. Environment, Social and Governance (ESG) aspects are systematically integrated in our highly disciplined investment process in several ways. Firstly, the portfolio’s ESG score is substantially better than the reference index (market for MFAR). This score is developed by sustainability expert RobecoSAM and covers approximately 4,500 companies. Also, the environmental footprint of greenhouse gas emissions, energy consumption, water use and waste generation is substantially lower than the reference index (market for MFAR). Furthermore, we exclude Controversial Weapons, companies with Controversial Behavior and Tobacco from the investable universe and we continuously monitor our universe for companies with corporate governance issues, with major litigations or regulatory risk. Finally, we conduct proxy voting and engagement activities to improve companies’ behavior on ESG themes. All the above results in an ESG profile of the fund that is, on average, substantially better than that of its peers.

Investment policy

Robeco QI Global Diversified Carry invests in equity indices, fixed income markets and currencies throughout the world, such as Australia, Japan, Germany, UK and US. The aim is to continuously select the equity markets that will pay the highest dividends, the fixed income markets with the highest coupon payments, and the currencies with the highest short-term interest rates. The fund is an absolute return fund based on quantitative models with the primary aim to generate income with limited net market exposure. This is done through long/short investing in equity indices, fixed income markets and currencies in developed markets throughout the world.

Risk policy

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

Expectation of fund manager

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For September, the fund is positioned to harvest 26 bps of carry, 3.21% on an annualized basis. Major position changes for equities include an overall reduction in long positions, as we have now gone short Sweden and the Netherlands, mainly because the Dutch dividend season has come to an end. Conversely, our stance on Italy has become more positive, in anticipation of the upcoming dividend payouts. The US position remains the largest short, as the short-term interest rate remains high and dividends are spread over the year, reducing returns over cash and creating minimal carry price pressure. As far as currencies are concerned, we retain a significant overall short position in the US dollar, albeit a smaller one than we had in August. This is because we have cut our short position in the Swiss franc by a third, and increased our long position in the Australian dollar. For fixed income, we have increased our overall long duration exposure, mostly by increasing our long position in the UK and by switching our short in the US into a small long position.

Guido Baltussen, Shengsheng Zhang, CFA, Klaas Smits, Thibault Lair, CFA, Lodewijk van der Linden
Guido Baltussen, Shengsheng Zhang, CFA, Klaas Smits, Thibault Lair, CFA, Lodewijk van der Linden

Guido Baltussen, Shengsheng Zhang, CFA, Klaas Smits, Thibault Lair, CFA, Lodewijk van der Linden

Guido Baltussen is Head of the Quant Allocation team and Lead Portfolio Manager Liquid Alternatives and Multi Asset strategies. He also holds a position as Associate Professor at Erasmus University Rotterdam. Before joining Robeco in 2017, Guido was Head of Fixed Income and Multi Asset Research at NN Investment Partners. He started his career in the investment industry in 2004 and has published in highly ranked academic journals such as the American Economic Review, Management Science and the Journal of Financial and Quantitative Analyses. Guido holds a PhD and a Master's (cum laude) in Financial and Business Economics from Erasmus University Rotterdam. Ms. Shengsheng Zhang is Portfolio Manager Global Allocations with Robeco since September 2012. Prior to joining Robeco, Shengsheng was employed by Delta Lloyd Asset Management for 6 years where she first held the position of Quantitative Analyst and later of Quantitative Portfolio Manager. She holds a Master's degree in Financial Engineering from the University of Twente and she is CFA charterholder. Mr. Smits is responsible for the management and development of Robeco's Multi Asset Quant capabilities and part of the Investment Solutions team. Prior he was responsible for developing Robeco's FamdA capabilities in both listed and private equity. Before that he worked for Robeco in New York managing the Fixed Income Allocation team. From 2000 to 2007 he was Head of the Robeco's Investment Grade and High Yield team.  Prior to joining Robeco, he worked for Interpolis, as Senior Fixed Income Portfolio Manager.  Mr. Smits began his investment career with Assicurazioni Generali in 1991. Mr. Smits holds a Bachelor's degree from the Institute for Business Administration and Economics, Groningen, the Netherlands. Thibault Lair is Portfolio Manager Quant Multi Asset products in the Quant Allocation team. His areas of expertise include the development and review of directional and relative value systematic strategies across asse

Details

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Management companyRobeco Luxembourg S.A.
Fund capital
Outstanding shares
ISINLU1241711487
BloombergRGDFEUR LX
Valoren28419474
WKNA2AHFJ
AvailabilityAT, FR, DE, IE, LU, NL, CH, GB
1st quotation date1440460800000
Close financial year31-12
Legal statusInvestment company with variable capital incorporated under Luxembourg law (SICAV)
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
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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.

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).

The funds shown on this website may not be available in your country. Please select your country website (top right corner) to view the products that are available in your country.

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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