Robeco Sustainable European Stars Equities D EUR
- A sustainable core allocation strategy — Characteristics of a core strategy with risk benefits in down markets.
- High conviction — Follows a research-driven, performance-oriented investment process reflected in a high active share, low turnover and asset selection as the single main contributor to active risk.
- Improved environmental footprint — Avoids the most polluting companies while not excluding entire industries. Generates a positive impact across GHG emissions, energy usage, water consumption and waste generation.
Robeco Hollands Bezit was merged into Robeco Sustainable European Stars Equities on 29 September 2020.
More information can be found here
About this fund
Price development
Performance
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundPerformances.date,'llll') ]}}| Fund | Reference index | |
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| {{'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.
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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| Green Bonds (%) |
Market development
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}Despite the strong performance of the European equity market in August, the gap between the year-to-date performance of European equities (MSCI Europe Index -11.1% YTD) versus global equities (MSCI World Index -0.8% YTD) has widened further. In addition, the trend of divergence between economic and corporate fundamentals versus stock valuation continues. While the MSCI Europe rose 3% in EUR in the course of the month, the total return of the global counterpart, the MSCI World, was 5.5% in EUR. Performance drivers for European as well as global equities were similar, namely growth focused and more cyclical stocks outperformed. But the much higher weight in the IT sector of the global reference index, which includes heavily weighted growth stocks, explains much of the outperformance. However, with heavily crowded US stocks, such as Tesla, Apple or NVIDIA, shooting up towards valuations that are hard to explain by changes in fundamentals, a geographical convergence of stock performance becomes a more likely scenario going forward.
Fund allocation
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundAllocations.date,'llll') ]}}| Name | Sector | Weight |
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Fund Classification
| Yes | No | N/A | ||
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| Voting | ||||
| Engagement | ||||
| ESG integration | ||||
| Exclusion |
| Yes | No | N/A | ||
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| Screening | ||||
| Integration | ||||
| Sustainability Themed Fund |
Currency policy
To reduce any possibility of large currency deviations relative to the benchmark which heighten the level of risk, the fund may bring exposure into line with the currency weights of the benchmark by carrying out currency forward transactions.
Dividend policy
The fund does not distribute dividend; any income earned is retained, and so the fund's entire performance is reflected in its share price.
ESG Integration policy
Robeco Sustainable European Stars Equities integrates ESG at different stages of the investment process. We use sustainability performance rankings to focus our fundamental analysis on companies that have demonstrated superior sustainability performance compared to their peers. We then analyze the impact of financially material ESG factors to a company’s competitive position and value drivers. We believe that this enhances our ability to understand existing and potential risks and opportunities of a company. If ESG risks and opportunities are significant, the ESG analysis could impact a stock’s fair value and the portfolio allocation decision. Throughout the investment process, we strive for a low environmental impact, as measured by GHG emissions, energy consumption, water use and waste generation, with the aim of realizing 20% better levels than the index. In addition to ESG integration, Robeco conducts proxy voting and engagement activities focused on specific themes, such as climate change, aiming to improve a company’s sustainability profile. Furthermore, the fund will not invest in companies exposed to the following controversial sectors or business practices: military contracting, controversial weapons, fire arms, UN Global Compact breaches, tobacco, palm oil and thermal coal, according to strict revenue thresholds.
Investment policy
Our investment philosophy is grounded in the core belief that the integration of ESG factors into a disciplined, research-driven investment process leads to better-informed investment decisions and better risk-adjusted returns through an economic cycle.
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') ]}}The fund's strategy aims to make investments in high-quality companies with sustainable, differentiated business models taking a full-cycle view. Given that approach, we'd expect the fund to show its full strength when returns of individual stocks start to materially differ due to less overall market support. The fund's positions tend to be less driven by assumptions on general market trends, but much more by company-specific qualities that are likely to endure in both positive and negative environments. Driven by expected business resilience and comparably moderate valuations, our key convictions can give some comfort in volatile times.
Mathias Büeler, CFA, Oliver Girakhou, MBA
Mathias Büeler is the Senior Portfolio Manager responsible for the RobecoSAM Sustainable European Equities Strategy as well as serving as a Senior Equity Analyst covering the Financials and Consumer Discretionary Sector. Prior to joining, Mathias Büeler worked as a sell-side equity analyst at Kepler Capital Markets for more than four years, covering Swiss banks and diversified financials. Previously, he was Head of Product Management Structured Products at Man Investments for two and a half years. Mathias Büeler holds a Master of Arts majoring in Business Administration from the University of Zurich and is a CFA chartholder. He joined RobecoSAM in 2011. Oliver Girakhou is a Portfolio Manager responsible for managing the Robeco Sustainable European Stars Equities Strategy. He covers and leads the research in the Materials, Industrials and Energy industries within the Team. Prior to joining RobecoSAM, he spent 6 years at Credit Agricole – Cheuvreux (later KeplerCheuvreux) as a sell-side equity analyst covering European industrial companies. He also gained first-hand business experience as an business analyst at the BMW Group where he worked in the China Strategy Department. Oliver earned his Master’s degree in Social and Economic Science from Vienna University’s School of Economics and Business Administration, and his MBA from ESCP Europe. He joined RobecoSAM in 2014.
Details
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}| Management company | |
| Fund capital | |
| Size of share class | |
| Outstanding shares | |
| ISIN | LU0187077218 |
| Bloomberg | ROBEURE LX |
| Valoren | 1794388 |
| WKN | A0CATQ |
| Availability | |
| 1st quotation date | 675388800000 |
| 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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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 | ||
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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.
