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RobecoSAM Circular Economy Equities I EUR

Index: MSCI World Index TRN
ISIN: LU2092759021
  • 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. The fund aims to outperform the benchmark over the long run. The fund invests in stocks in developed and emerging countries across the world. The selection of these stocks is based on fundamental analysis. The fund invests in companies that foster resource-efficient business models with regard to the production and consumption of consumer goods. The investment team identifies companies that are offering superior solutions regarding the development and redesign of production inputs that can be reused or recycled, that manage circular logistics and waste management systems or promote a social and eco-friendly nutrition and lifestyle. By combining RobecoSAM thematic research expertise with sustainability analysis, ESG criteria are fully integrated into the investment process.

Price development

No performance data available

Price development

RobecoSAM Circular Economy Equities I 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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The global equity market started very strongly into the new year despite the implementation of stricter measures to control the spread of the new coronavirus in many countries taken in response to the appearance of new virus variants. As a result of this partly liquidity-driven performance, some pockets of irrational frothiness started to form in the markets. However, given that the cumulative output loss during the pandemic has been manageable so far and is going to be lower than during the financial crisis of 2008, and given that vaccination strategies will gain momentum during the first half of 2021, investors are anticipating that economic activities will start to normalize in the summer. While cyclical and smaller cap stocks benefited from this view in January, this was not the case on a broader front for stocks that lagged during the earlier phases of the pandemic. Towards the end of the month, volatility increased despite mostly solid company results, and broader market setbacks largely neutralized the positive performance of the first three weeks of the year.

Fund allocation

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Name Sector Weight
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Fund Classification

YesNoN/A 
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ESG integration
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Sustainability Themed Fund

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 RobecoSAM Circular Economy Equities strategy invests in global companies providing circular solutions that create value in loops via reuse, redesign, repair, responsible consumption. It employs systematic, bottom-up stock selection that combines proprietary Environmental, Social & Governance (ESG) data and research throughout the investment process. ESG criteria for exclusions and theme-specific suitability are applied during universe construction. An in-house Sustainability Investing (SI) research team integrates financially-material sector and company-specific sustainability analysis into investment cases. A dedicated thematic equity team incorporate SI research within fundamental analysis and stock valuations. Impact assessments of controversial incidences affecting portfolio holdings provide additional risk management. An active ownership and engagement team interacts directly with company management of fund holdings, offering additional channels for sustainable impact.

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. Building on our proprietary data and research, we identify companies that generate a competitive advantage through sound business practices, efficiency improvements, and the creation of new solutions for the myriad challenges facing society over the coming decades. Taking a long-term investment perspective, we analyze companies’ business models, market positioning and growth potential, and evaluate their financial performance and valuation. Based on this fundamental assessment, we seek to uncover attractive investment opportunities and implement them in concentrated, conviction-based equity portfolios.

Risk policy

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

Expectation of fund manager

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Stock market volatility is likely to remain elevated as retail trader speculations in the US create pockets of asset bubbles. On the macro level, the economic outlook continues to be uncertain at best, given the slow rollout of Covid-19 vaccines. Overall, fund management remains constructive on the markets as the Fed will maintain its ultra-easy monetary policy and inflation remains moderate. We are excited about the inherent opportunities created by the transition towards the circular economy. Companies exposed to this are set to benefit from changing consumer preferences for sustainable consumer packaging, better logistics and waste management systems and/or from the full digitization of legacy business models through digital collaboration platforms. Further examples can also be found in the modernization of global waste and recycling systems, sharing platforms, and the switch to circular building products. The secular growth opportunities stemming from the transition to the circular economy in our view have not only withstood the current pandemic crisis, but are well positioned to have a head start in the imminent economic recovery.

David Kägi, PhD
David Kägi, PhD

David Kägi, PhD

David Kägi is a Portfolio Manager responsible for managing the RobecoSAM Sustainable Healthy Living Equities strategy. He is also the Portfolio Manager a.i. for the RobecoSAM Circular Economy Equities strategy. Previously, he worked as a Buy-Side analyst covering the global healthcare sector for Bank J. Safra Sarasin in Zurich, first for Private Banking, then for Asset Management. In the last five years, he also managed the Demography Health basket certificate for Bank J. Safra Sarasin. After some years in biomedical research, he started his career in finance as a Healthcare Analyst at the investment company BT&T, followed by a position as an Investment Analyst for private biotechnology companies with Schweizerhall Management AG in Zurich. David holds a Master’s degree in Biochemistry and a PhD in T-cell Immunology both from the ETH Zurich. He joined Robeco in 2019.

Details

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Management company
Fund capital
Size of share class
Outstanding shares
ISINLU2092759021
BloombergROCEEIE LX
Valoren52333291
WKNA2P0DP
Availability
1st quotation date1579737600000
Close financial year31-12
Legal status
Tracking error limit (%)
Reference index

Cost of this fund

Ongoing charges

This fund deducts ongoing charges of
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This fund may also deduct a performance fee of

Extra fees

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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 0.01% 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.

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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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