RobecoSAM Global SDG Credits CH USD
- Contributes actively to the realization of the SDG goals
- Core exposure of portfolio invested in global investment grade credits
- Experienced investment team
About this fund
Performance
Performance
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundPerformances.date,'llll') ]}}| Subject | Fund | Reference index |
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Statistics
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundStatistics.date,'llll') ]}}| Subject | 3 years | 5 years | |
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Dividend paying history
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}| Date | Amount |
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Market development
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}The Global Aggregate Corporate Bond Index returned +0.22% (hedged in euros) this month as credit spreads widened and risk-free rates moved lower. The 10-year US Treasury yield decreased by 10 bps to 2.86%, while the German 10-year yield decreased 12 bps to 0.32%. The credit spread on the Global Corporate Bond Index increased by 5 bps to 1.18%. Geopolitical risks resurfaced in August. Trade negotiations with the US are running and regular tweets by president Trump during the process result in plenty of noise. But also Italy, Argentina and Turkey are making new headlines, causing volatility. The Global Corporate Bond Index delivered a negative excess return of -0.33% versus government bonds. US corporate bonds continue to outperform European corporates with excess returns of -0.38% and -0.44%, respectively. High yield (-1.52%) and emerging market credits (1.41%) underperformed global investment grade markets.
Fund Classification
| Description | Yes | No | N/A | |
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| Voting | ||||
| Engagement | ||||
| ESG integration | ||||
| Exclusion |
| Description | Yes | No | N/A | |
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| Sustainability Themed Fund |
Fund allocation
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundAllocations.date,'llll') ]}}| Name | Sector | Weight |
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Currency policy
All currency risks are hedged.
Derivative policy
The fund fund make use of derivatives for hedging purposes as well as for investment purposes.
Dividend policy
This share class of the fund will distribute dividend.
ESG Integration policy
The prime goal of integrating ESG factors in our analysis is to strengthen our ability to assess the downside risk of our credit investments. Our analysts include RobecoSAM sustainability data and use external sources to make an ESG assessment as a part of the fundamental analysis.
Investment policy
RobecoSAM Global SDG Credits invests in a diversified portfolio of global investment grade corporate bonds. Core of the portfolio is invested in investment grade credits, complemented by best opportunities in High Yield and Emerging Markets The selection of these bonds is based on fundamental analysis. The fund aims to contribute to realizing the UN SDG goals by assessing the SDG score of all companies in the universe. The fund does not invest in companies that do not contribute to these goals. The investment philosophy is based on managing a solid diversified portfolio with a long term view. Companies that don't contribute to the realization of the SDG Goals as set by the UN are excluded from the universe. Top-down beta positioning is based on the outcome of our credit quarterly outlook meeting, which defines the current credit environment and where we are in the credit cycle. This analysis is based on a fundamental, valuation and technical perspective. Bottom-up issuer research is executed by our credit analysts, who undertake the fundamental analysis. Analyst research reports are discussed in approx. 500 credit committees per year. The portfolio managers are responsible for the portfolio construction. A proprietary developed risk management approach avoids high risk concentration in the portfolio. As the investment process is well-structured and proven over time, it contributes to repeatable performance delivery.
Risk policy
Risk management is fully embedded in 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') ]}}We keep the beta position of the portfolio around 1. Our fundamental view on credit markets remains the same; we still believe we are in the last phase of this cycle. We do not, however, see the world economy going into a recession in the medium term. As several markets have repriced, spreads have become attractive again. The emerging credit market is now trading again at almost 1x its long-term median, with substantial dispersion between countries and markets. Credit markets are expected to remain volatile and as such we are cautious in adding too much risk at this stage and keep the beta around 1. The Chinese government backtracked on some of their restrictive policies on providing credit, giving some relief to several companies and sectors. We think the government may further loosen their policies or even go back to stimulating the economy to counter the effects of the trade restrictions imposed by the United States. Geopolitical risks remain a source of uncertainty.
Jan Willem de Moor
Mr. de Moor is a Senior Portfolio Manager and a member of the Credit team. Prior to joining Robeco in 2005, Mr. de Moor was employed by SBA Artsenpensioenfondsen as Senior Portfolio Manager Equities for six years. Before that, he worked at SNS Asset Management holding positions of Portfolio Manager Equities (three years) and Research Analyst (two years). Jan Willem de Moor started his career in the Investment Industry in 1994. He holds a Master's degree in Economics from Tilburg University.
Details
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}| Management company | Robeco Institutional Asset Management B.V |
| Fund capital | |
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| ISIN | LU1811861514 |
| Bloomberg | RGSDGCH LX |
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| WKN | |
| Availability | LU, CH |
| 1st quotation date | 1526428800000 |
| Close financial year | 31-12 |
| Legal status | Investment company with variable capital incorporated under Luxembourg law (SICAV) |
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Cost of this fund
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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.
