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RobecoSAM Circular Economy Equities DH EUR

Index: MSCI World Index
ISIN: LU2529316510
  • Invests in leading companies that address the opportunities created by the paradigm shift in traditional production and consumption patterns toward a circular economy.
  • Focus on innovative solutions in the area of redesign inputs, circular use, enabling technologies and loop resources.
  • Diversified strategy enhanced by proprietary ESG risk considerations, appealing to investors with a horizon of three to five years.
Asset class
Current price ()
Performance YTD ()
Currency EUR
Total size of fund ()
Dividend payingNo

About this fund

RobecoSAM Circular Economy Equities is an actively managed fund that invests globally in companies aligned with circular economy principles. The selection of these stocks is based on fundamental analysis. The fund's objective is to achieve a better return than the index. The strategy integrates sustainability criteria as part of the stock selection process and through a theme-specific sustainability assessment. The portfolio is built on the basis of an eligible investment universe that includes companies whose business models contribute to the thematic investment objectives. The assessment regarding relevant SDGs uses an internally developed framework, more information on which can be obtained at www.robeco.com/si.

Price development

No performance data available

Price development

RobecoSAM Circular Economy Equities DH EUR

Performance

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The value of the investments may fluctuate. Past performance is no guarantee of future results.
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
The value of the investments may fluctuate. Past performance is no guarantee of future results.
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

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Market development

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In August, the S&P 500 initially attempted to continue on the positive market trajectory from the previous month and it even tested the 200d-resistance level. However, the summer rally came to an end, probably due to large continued uncertainties surrounding the economy facing an unabating stream of challenges. A plethora of companies' Q2 presentations and another month of fresh macro indicators unfortunately did not make us wiser as to what to expect from the economy in the remainder of the year and in 2023. The Fed has reconfirmed its commitment to beating inflation. And we now know that the Fed is ready for its actions to induce some pain to the economy. What we do not know is whether the economy would still be able to weather what could be described as a perfect storm of geopolitical, growth and inflationary challenges.

Fund allocation

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Name Sector Weight
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Currency policy

The fund is allowed to pursue an active currency policy to generate extra returns.

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

The fund's sustainable investment objective is to finance solutions that support the transition from traditional production and consumption patterns toward a circular economy. Circular economy and sustainability considerations are incorporated in the investment process by the means of a target universe definition, exclusions, ESG integration, and voting. The fund only invests in companies that have a significant thematic fit as per Robeco's thematic universe methodology. Through screening on both Robeco's internally developed SDG Framework and Robeco’s exclusion policy, the fund does not invest in issuers that have a negative impact on the SDGs, are in breach of international norms or where products have been deemed controversial. Financially material ESG factors are integrated in the bottom-up fundamental investment analysis to assess existing and potential ESG risks and opportunities. In addition, where a stock issuer is flagged for breaching international standards in the ongoing monitoring, the issuer will become subject to exclusion. Lastly, the fund makes use of shareholder rights and applies proxy voting in accordance with Robeco's proxy voting policy.

Investment policy

RobecoSAM Circular Economy Equities is an actively managed fund that invests globally in companies aligned with circular economy principles. The selection of these stocks is based on fundamental analysis. The fund has sustainable investment as its objective within the meaning of Article 9 of the European Sustainable Finance Disclosure Regulation. The fund fosters resource-efficient business models for production and consumption of consumer goods, aligned with Circular Economy principles, by investing in companies that advance the following UN Sustainable Development Goals (UN SDGs): Zero Hunger, Good health and well-being, Decent work and economic growth, Industry, innovation and infrastructure, Sustainable cities and communities and Responsible consumption and production. The fund applies sustainability indicators, including but not limited to, integrates E&S (i.e. Environmental and Social) in the investment process, applies normative, activity-based and region-based exclusions, and applies proxy voting. In addition, the fund also aims to achieve a better return than the index. The strategy integrates sustainability criteria as part of the stock selection process and through a theme-specific sustainability assessment. The portfolio is built on the basis of an eligible investment universe that includes companies whose business models contribute to the thematic investment objectives. The assessment regarding relevant SDGs uses an internally developed framework, more information on which can be obtained at www.robeco.com/si. Benchmark: MSCI World Index TRN. The majority of stocks selected will be components of the benchmark, but stocks outside the benchmark may be selected too. While the investment policy is not constrained by a benchmark, the fund may use one for comparison purposes. The fund can deviate substantially from the issuer, country and sector weightings of the benchmark. There are no restrictions on the deviation from the benchmark. The benchmark is a broad market-weighted index that is not consistent with the sustainable objective of the fund.

Risk policy

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

Sustainability profile

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SDG Contribution

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The SDG score shows to what extent the portfolio and the benchmark contribute to the 17 UN Sustainable Developments Goals (SDGs). Scores are assigned to each underlying company using the Robeco SDG Framework, which utilizes a three-step approach to calculate a company’s contribution to the relevant SDGs. The starting point is an assessment of the products offered by a company, followed by the way in which these products are produced, and finally whether the company is exposed to any controversies. The outcome is expressed in a final score which shows the extent to which a company impacts the SDGs on a scale from highly negative (dark red) to highly positive (dark blue). The bar shows the aggregate percentage exposure of the portfolio and the benchmark (shaded) to the different SDG scores. This is then also split out per SDG. As a company can have an impact on several SDGs (or none), the values shown in the report do not sum to 100%. More information on Robeco’s SDG Framework can be found at: https://www.robeco.com/docm/docu-robeco-explanation-sdg-framework.pdf

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CGF CEE_20220831-CGFCEE_20220831-sdgIndividualImpact1_noPoverty.png CGF CEE_20220831-CGFCEE_20220831-sdgIndividualImpact2_zeroHunger.png CGF CEE_20220831-CGFCEE_20220831-sdgIndividualImpact3_goodHealthAndWellBeing.png CGF CEE_20220831-CGFCEE_20220831-sdgIndividualImpact4_qualityEducation.png CGF CEE_20220831-CGFCEE_20220831-sdgIndividualImpact5_genderEquality.png CGF CEE_20220831-CGFCEE_20220831-sdgIndividualImpact6_cleanWaterAndSanitation.png CGF CEE_20220831-CGFCEE_20220831-sdgIndividualImpact7_affordableAndCleanEnergy.png CGF CEE_20220831-CGFCEE_20220831-sdgIndividualImpact8_decentWorkAndEconomicGrowth.png CGF CEE_20220831-CGFCEE_20220831-sdgIndividualImpact9_industryInnovationAndInfrastructure.png CGF CEE_20220831-CGFCEE_20220831-sdgIndividualImpact10_reducedInequalities.png CGF CEE_20220831-CGFCEE_20220831-sdgIndividualImpact11_sustainableCitiesAndCommunities.png CGF CEE_20220831-CGFCEE_20220831-sdgIndividualImpact12_responsibleConsumptionAndProduction.png CGF CEE_20220831-CGFCEE_20220831-sdgIndividualImpact13_climateAction.png CGF CEE_20220831-CGFCEE_20220831-sdgIndividualImpact14_lifeBelowWater.png CGF CEE_20220831-CGFCEE_20220831-sdgIndividualImpact15_lifeOnLand.png CGF CEE_20220831-CGFCEE_20220831-sdgIndividualImpact16_peaceJusticeAndStrongInstitutions.png CGF CEE_20220831-CGFCEE_20220831-sdgIndividualImpact17_partnershipForTheGoals.png

Sustainability

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The fund's sustainable investment objective is to finance solutions that support the transition from traditional production and consumption patterns toward a circular economy. Circular economy and sustainability considerations are incorporated in the investment process by the means of a target universe definition, exclusions, ESG integration, and voting. The fund only invests in companies that have a significant thematic fit as per Robeco's thematic universe methodology. Through screening on both Robeco's internally developed SDG Framework and Robeco’s exclusion policy, the fund does not invest in issuers that have a negative impact on the SDGs, are in breach of international norms or where products have been deemed controversial. Financially material ESG factors are integrated in the bottom-up fundamental investment analysis to assess existing and potential ESG risks and opportunities. In addition, where a stock issuer is flagged for breaching international standards in the ongoing monitoring, the issuer will become subject to exclusion. Lastly, the fund makes use of shareholder rights and applies proxy voting in accordance with Robeco's proxy voting policy.

Expectation of fund manager

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Transparency regarding the underlying economic growth for the rest of 2022 and into 2023 is low. Despite many Q2 company commentaries pointing to an underlying demand that is still strong, visibility into future demand that most companies have is relatively low. In such an environment, we focus on (i) balancing the underlying portfolio risks, (ii) selecting companies that we believe can grow their sales in a mild recessionary environment, (iii) companies that are strongly cash generative and have healthy balance sheets. We continue to see the introduction of the circular economy being supported by many strong secular growth trends. The theme helps to identify and select the winners that enable the ongoing transition from a linear to a circular economic model.

Natalie Falkman
Natalie Falkman

Natalie Falkman

Natalie Falkman is Portfolio Manager of the RobecoSAM Circular Economy Equities strategy. Before joining Robeco in 2022, she was a portfolio manager for Kapitalinvest, a global equity, 5-star rated by Morningstar, fund at Swedbank Robur in Stockholm. Prior to that, she worked as the Head of Emerging Markets research at Carnegie (formerly HQ Bank), covering Eastern Europe and Africa, before shifting her focus to Nordic stocks. She started her career in 2002 as an equity research analyst at Deutsche Bank in Moscow covering utility and shipping sectors. Natalie holds a Master in Finance from Stockholm School of Economics.

Details

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Management company
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ISINLU2529316510
BloombergROCEEDH LX
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WKN
Availability
1st quotation date1663632000000
Close financial year31-12
Legal status
Tracking error limit (%)
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Cost of this fund

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This fund deducts ongoing charges of
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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.

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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).

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