Robeco Sustainable Global Stars Equities D EUR
- Concentrated portfolio
- Focuses on companies with a high return on invested capital
- Applies a disciplined approach to valuating companies
Robeco Digital Explore 16 July,
Live Event
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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| 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.
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 strong rally we witnessed in April continued last month, with the MSCI World Index rising 3.2%. The prospect of easing the lockdowns in the developed world were the main drivers. This overshadowed the comments by Fed Chairman Powell about significant downside risks, the rhetoric about the US/China relationship and comments by high-profile investors about peak valuations. However, under the hood of the equity benchmarks, we saw significant changes. High-quality defensive growth names substantially underperformed their cyclical/value counterparts. On the positive side, this movement increased the breadth of the equity market recovery. Up to April, the recovery was driven by around 25% of the stocks, and the cyclical rally broadened this. As several economic indicators have been improving strongly, from a very low base, this recovery could have legs. The unprecedented monetary and fiscal stimulus is having its effect on the economy.
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 is allowed to pursue an active currency policy to generate extra returns and can engage in currency hedging transactions.
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
Robeco Sustainable Global 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
Robeco Sustainable Global Stars Equities uses a disciplined and rigorous selection process to find interesting stocks. Stocks are purchased mainly for their potential to increase in value. Fundamental analysis is carried out using a disciplined approach. The fund will not be constrained by its benchmark and stocks will be bought for their capital-appreciation potential. The fund can anticipate currency developments through active currency management. Risk management is fully integrated into the investment process to ensure that positions always meet predefined guidelines.
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') ]}}. GDP numbers in the US are likely to continue to be downgraded, with numbers as high as 35% for Q2. This recession is not just about an inventory correction in the manufacturing sector, but more importantly the services sector is badly impacted. We are seeing that consumer spending is stalling across the globe. The million dollar question however remains what the recovery will look like. Therefore, we must figure out the duration of the virus. Various regions are in different stages of the disease cycle and this will impact their economic recovery differently. If the US infections peak in the coming weeks and assuming a lag of roughly two months between peak new cases and the start of a normalization of our daily lives (as in China), we could see a ‘restart’ of the US economy by the end of the second quarter. China can provide a template to guestimate the magnitude of the recovery.The top-down earnings estimate for the S&P 500 Index has been downgraded to roughly USD 125. This is a cut of 25% and a cut of around 30% for Europe. This assumes a rather smooth transition back to normal towards the summer. If that is not the case, the market lows will be tested again.
Jan Keuppens, Michiel Plakman, CFA
Jan Keuppens, Executive Director, is the Head of the Global Equities team. Prior to joining Robeco in 2005, he worked as a Portfolio Manager for Quest Management, AXA IM and Corluy & CO. Jan Keuppens started his career in the investment industry in 1997. He holds a Master's degree in Applied Economic Sciences from the University of Leuven. Michiel Plakman is Portfolio Manager of Robeco Global Stars Equities Fund NV. Michiel Plakman is co-PM for the Global Stars fund. Previously, he was responsible for managing the Robeco IT Equities fund within the TMT team. Prior to joining Robeco in 1999, Michiel Plakman worked for two years as a Portfolio Manager Japan at Achmea Global Investors (PVF Pensioenen). From 1995 to 1997, he held a position as Portfolio Manager European Equities at KPN Pension Fund. Michiel holds a Master's degree in Econometrics from the Free University of Amsterdam and he is a CFA charter holder.
Details
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}| Management company | |
| Fund capital | |
| Size of share class | |
| Outstanding shares | |
| ISIN | LU0387754996 |
| Bloomberg | ROBGESD LX |
| Valoren | 4577283 |
| WKN | A0YFGU |
| Availability | |
| 1st quotation date | 1226275200000 |
| 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 0.05% 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.
