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.
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Green Bonds (%) |
The rise in yields for long-term US government bonds remained the dominant theme on the capital markets. After the 10-year US Treasuries exceeded the mark of 1.7%, investors desperately tried to interpret what this means for the equity market. Is it a warning sign of surging inflation or rather an expression of long-lasting economic recovery? Some indicators such as a steep acceleration in freight rates, higher commodity prices and disruption in supply chains hint towards higher production costs, increasing the risk for declining corporate margins and higher consumer prices. On the other hand, Fed Chairman Powell tried to calm investors, reiterating that "inflation will be neither particularly large nor persistent". After some initial volatile days, the stock recovered gradually and reached a new all-time on 17 March. The rotation from technology into cyclical sectors continued. Towards month-end, however, defensive quality sectors such as consumer staples began to catch up, while pressure on risky, unprofitable technology companies intensified.
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Sustainability Themed Fund |
The fund is allowed to pursue an active currency policy to generate extra returns and can engage in currency hedging transactions.
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.
RobecoSAM Global SDG Equities invest in companies whose products and services create a positive impact on the SDGs. 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 incorporates 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.
RobecoSAM Global SDG Equities Strategy is an actively managed fund that intentionally invests globally in companies that positiviely contribute to the achievements of the UN Sustainable Development Goals. 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 advances the UN Sustainable Development Goals (SDGs) by investing in companies whose business models and operational practices are aligned with targets defined by the 17 UN SDGs. 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 along the different steps of the investment process. It uses as an interanally developed framework (about which more information can be obtained via the website www.robeco.com/si) to identifiy companies whose produts & services create a material positive impact on the the SDGs. 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 management is fully integrated into the investment process to ensure that positions always meet predefined guidelines.
ESG score target | Exclusion based on negative screening |
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↑20% | ≥20% |
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 theshading shows the index.
RobecoSAM Global SDG Equities invest in companies whose products and services create a positive impact on the SDGs. 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 incorporates 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.
In his latest press conference, US President Joe Biden declared that there will be enough supply of coronavirus vaccines "for every adult in America" by the end of May. Hence, economists predict a strong GDP acceleration in the coming months. The reopening of the economy will boost investments and foster job creation. In addition, the government will invest trillions in the modernization of infrastructure. As long as the yields for the 10-year Treasuries stabilize at levels where they were before Covid and central banks are given sufficient time to slowly adapt their monetary policy, equity markets should continue to perform well. Economically sensitive sectors will likely continue to outperform, while growth stocks will find it harder to exceed prior-year levels. We assume that with increasing valuations of global equities, investors will begin to allocate their portfolios more toward high-quality companies. Nevertheless, investors will monitor interest rates and inflation very closely. Should they unexpectedly soar, volatility is likely to increase again. An overheating economy, forcing central banks to act fast and erratically, presents the biggest risk at the moment.
Rainer Baumann is Head of Investments and a Member of the Executive Committee at Robeco Switzerland Ltd. He oversees and manages a team of investment professionals consisting of Portfolio Managers and Equity Analysts. In addition to his management role, he acts as a Portfolio Manager for the Global SDG Equities strategy. Prior to joining the firm, Rainer spent three years with UBS Wealth Management as a Portfolio Manager responsible for large private asset management mandates and as a member of the local investment committee. He began his career in Financial Audit at PricewaterhouseCoopers. Rainer holds a Master's degree in Business Administration from the University of Zurich and is a CFA Charter-holder. He joined Robeco in 2002.
Management company | |
Fund capital | |
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ISIN | LU2145460510 |
Bloomberg | RSGSEFE LX |
Valoren | 55777315 |
WKN | A2QD2N |
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1st quotation date | 1603929600000 |
Close financial year | 31-12 |
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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.
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.
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).
The funds shown on this website may not be available in your country. Please select your country website (top right corner) to view the products that are available in your country.
Neither information nor any opinion expressed on the website constitutes a solicitation, an offer or a recommendation to buy, sell or dispose of any investment, to engage in any other transaction or to provide any investment advice or service. An investment in a Robeco product should only be made after reading the related legal documents such as management regulations, prospectuses, annual and semi-annual reports, which can be all be obtained free of charge at this website and at the Robeco offices in each country where Robeco has a presence.
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