RobecoSAM Global Gender Equality Impact Equities D EUR
- Investing in gender equality creates positive impact—Delivers positive long-term shareholder returns by selecting companies with a strong competitive advantage from recognizing and acting on the strategic importance of improving gender equality.
- Contribution to the UN Sustainable Development Goals —Supports the achievement of the Sustainable Development Goals by investing in companies that exhibit strength in the retention of female talent, equal remuneration and employee well-being.
Effective October 29th 2020, selected RobecoSAM equity funds were merged onto the RCGF SICAV platform and received new inception dates, share classes, and ISIN codes.
More information
About this fund
Price development
Performance
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundPerformances.date,'llll') ]}}| Fund | 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.
Performance explanation
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}Based on transaction prices, the fund's return was -3.72%. Over the last month, the fund underperformed the MSCI World based on transaction prices. Our zero exposure in energy was responsible for almost half of the negative contribution. Nike was among the biggest detractors, suffering from increasing concerns related to continuing supply chain issues such as delayed shipping and the impact of Vietnam factory closures because of new Covid outbreaks. Similar to its closest peers, Charter's shares struggled on the back of Comcast's CFO's comments during a broker's conference that subscriber additions in Q3 will lag those of 19Q3. Furthermore, after having performed superbly till the end of August, Zebra Technologies took a breather in September in light of tapering discussions and expected interest rate increases that weigh most negatively on technology stocks. One of the biggest positive contributors was Thermo Fisher, as it announced very attractive long-term guidance (2023-2025) during its investor's day mid-September, well ahead of consensus estimates.
Statistics
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Market development
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}In September, the MSCI World Index decreased by -4.1% (USD), as the economic environment and news flow have materially worsened. From a sector perspective, energy was the only sector experiencing positive returns, while materials and utilities were the worst-performing ones. In China, the country's main growth engine, real estate, started to suffer, as the highly indebted property developer Evergrande has missed several interest payments. Meanwhile, market participants are wondering how the Chinese government will handle the situation and what potential spillover effects this might entail. On the monetary front, the Fed is expected to announce the start of the tapering during its next meeting in November. On the political front, the discussion on the US government debt ceiling was the major topic. Experts warn that failing to increase the ceiling could lead to a credit default of the US government. Although a stopgap funding measure was signed to avoid an immediate shutdown for parts of the government's operations as of 1 October, the issue is not off the table.
Fund allocation
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundAllocations.date,'llll') ]}}| Name | Sector | Weight |
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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
In principle the fund does not intend to distribute dividend and so both the income earned by the fund and its overall performance are reflected in its share price.
ESG Integration policy
RobecoSAM Gender Equality Impact Equities invest in companies that are leading with regard to the promotion of gender equality. 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 fund-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
RobecoSAM Global Gender Equality Impact Equities Strategy is an actively managed fund that invests globally in companies that are leaders in promoting gender diversity and equality. The selection of these stocks is based on fundamental analysis. The fund's objective is to achieve a better return than the index. The fund has sustainable investment as its objective within the meaning of Article 9 of the European Sustainable Finance Disclosure Regulation. The fund aims to create a positive societal impact by investing in companies that exhibit a high degree of gender equality and that actively promote gender equality. The fund integrates ESG (i.e. Environmental, Social and corporate Governance) in the investment process, applies an exclusion list basis controversial behavior, products (including controversial weapons, tobacco, palm oil and fossil fuel) while avoiding investment in thermal coal, weapons, military contracting and companies that severely violate labor conditions, next to voting and engaging.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 the eligible investment universe that includes companies with superior Gender Scores. The internally developed Gender Score comprises various criteria, such as board diversity, equal renumeration, talent management or employee well-being. Companies that exhibit an inferior overall ESG assessment are exluced from the investent universe.The majority of stocks selected will be components of the Benchmark, but stocks outside the Benchmark may be selected too. The investment policy is not constrained by a benchmark but the fund may use a benchmark 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
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}
| Footprint target | Exclusion based on negative screening |
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| ↓20% | ≥20% |
Gender Equality
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}The Gender Equality score displays the portfolio's scores for a subset of questions covering the topic of gender equality from multiple angles (from board diversity through executive compensation to workforce diversity). The Total Gender Score is comprised of these question scores and is provided at the center of the chart. If an index has been selected, additional alerts appear below the question name to highlight relative performance with respect to gender equality.
ESG Score
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}The portfolio ESG score (and E,S and G score) is calculated by multiplying the RobecoSAM Smart ESG Score of each holding by its respective portfolio or index weight. The same methodology is applied in calculating the key ESG Criterion scores. The scores of the portfolio are provided alongside the scores of the index, highlighting the portfolio’s relative sustainability. The colors indicate the score of the portfolio, whilst the shading shows the index.
Environmental Footprint
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}The RobecoSAM footprint ownership of the portfolio expresses the total resource consumption the portfolio finances. Each company's footprint is calculated by normalizing resources consumed by the company's enterprise value. Multiplying these values by the dollar amount invested in each company yields the aggregate footprint ownership figures. The selected index's footprint (for an equivalent $ amount invested in corporates) is provided alongside. The portfolios score is shown in blue and the index in grey.
ESG integration policy
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}RobecoSAM Gender Equality Impact Equities invest in companies that are leading with regard to the promotion of gender equality. 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 fund-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.
Expectation of fund manager
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}Despite the signed stopgap measure by the US government, the risk of the country defaulting still looms over the financial markets. Beyond that, the Fed indicated plans to start tapering towards the end of 2021. Other central banks have indicated similar plans, while countries such as South Korea and Norway have already started to increase interest rates. Overall, macro risks are increasing and the probability of a near-term correction has risen. Next to the overarching concerns related to inflation and tapering, the fears are centered on a potential collapse of China's real estate segment, generally high debt levels, excessive valuations in the US stock market, global supply chain issues and new Covid outbreaks. Nevertheless, the corporate side leaves room for a more positive period ahead, as earnings forecasts remain attractive.In this difficult environment, we remain confident in our bottom-up approach that focuses on picking companies with strong over-the-cycle fundamentals and resilient business models. Short-term price gyrations that are irrelevant to the companies' true prospects and intrinsic values may present us with opportunities to add strong players to the portfolio.
Audrey Kaplan
Audrey Kaplan is Portfolio Manager for Robeco's Sustainable Global Stars Equities strategy, where she is focusing on financials, consumer staples and portfolio construction, as well as for the RobecoSAM Global Gender Equality Impact Equities strategy. She joined Robeco in 2021. Previously, she was Head of Global Equity Strategy at Wells Fargo Investment Institute (NY). Prior to joining Wells Fargo, she worked as Head of International Equity Team and Senior Portfolio Manager at Federated Investors, Inc. (NY, now known as Federated Hermes). She also held roles in European research at Merrill Lynch International (London) and in Asian research at Salomon Brothers, Inc. (Tokyo) earlier in her career. She started her career in 1989. She holds a Master's in Finance from London Business School and a Bachelor's in Computer & Systems Engineering from Rensselaer Polytechnic Institute.
Details
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}| Management company | |
| Fund capital | |
| Size of share class | |
| Outstanding shares | |
| ISIN | LU2145458969 |
| Bloomberg | RSGGIDE LX |
| Valoren | 55666694 |
| WKN | A2QD2G |
| Availability | |
| 1st quotation date | 1603929600000 |
| Close financial year | 31-12 |
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Cost of this fund
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Transaction costs |
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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 0.05% 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.
