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RobecoSAM Global SDG Equities S EUR

Index: MSCI World Index TRN
ISIN: LU2145461161
  • Positive impact – Identification of businesses that generate a competitive advantage by addressing opportunities arising from a transition towards more sustainability
  • Long-term investment returns – Implementation of a disciplined investment process resulting in a concentrated, risk-controlled portfolio of stocks exhibiting strong fundamentals and reasonable valuations
Asset class
Current price ()
Performance YTD ()
Currency EUR
Total size of fund ()
Dividend payingNo

About this fund

The RobecoSAM Global SDG Equities Fund is an actively managed strategy that invests globally in companies that positively contribute to the achievements of the UN Sustainable Development Goals. Its objective is to achieve a better return than the index in the long-term by participating in opportunities but limiting volatility to avoid large drawdowns. Following a fundamental approach, the strategy invests in 40-70 attractively valued, high quality stocks which are broadly diversified over regions and SDGs. A proprietary research framework is applied to assess a company’s impact on the SDGs by analysing its products & services, operational practices and involvement in controversies (more information on www.robeco.com/si).

Price development

No performance data available

Price development

RobecoSAM Global SDG Equities S 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.

Performance explanation

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Based on transaction prices, the fund's return was 3.71%. The strategy achieved a positive result, both in absolute and in relative terms. Life science and analytical company Agilent Technologies, the largest holding in the healthcare sector, reported very strong quarterly results. Across its entire portfolio of laboratory instruments, diagnostic equipment and testing software, the management's growth targets were exceeded. In industrials, Japan-based Daikin Industries outperformed after the management's positive business outlook. The world's No. 1 air-conditioning manufacturer realized market share gains with its latest highly energy-efficient models. Finally, in the materials sector, DSM surprised with strong revenues from products that it delivers to the automotive and industrial sectors. In information technology, the results were mixed. Positive contributions from semiconductor companies Microchip Technology and ON Semiconductor that rebounded after a period of consolidation were offset by IPG Photonics that dropped considerably. Sales for its laser solutions disappointed, causing a harsh market reaction. The miss was likely due to the cyclical slowdown in industrial activity in China, the key market for IPG Photonics.

Statistics

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Market development

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In August, the MSCI World Index increased around 2.5% (USD). However, the economic and political news flow was not all good. In the US, multiple data such as retail sales, pending home sales, orders for durable goods and local manufacturing indices fell below expectation, adding some evidence of a moderation in economic growth (from an elevated level). In China, the manufacturing PMI fell close to 50.1, with new orders even dropping into contraction territory as export declines accelerated. The uncertainty surrounding Chinese internet and technology companies persisted, with the government implementing new regulations, especially around data collection, processing and protection. The positive market sentiment must therefore be explained by dovish comments from central bankers. In his recent speech in Jackson Hole, Fed Chairman Powell refrained from giving a clear timeline regarding the tapering of asset purchases. He also hinted that interest rates will stay near zero for the foreseeable future. Not surprisingly, information technology returned best, with the FAANG+M stocks being the largest performance drivers.

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 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 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.

Investment policy

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 policy

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

Sustainability profile

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Exclusions++

Full ESG Integration

Voting & Engagement

ESG Target

ESG score target Exclusion based on negative screening
↑20% ≥20%

Target Universe

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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ESG Score

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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.

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ESG integration policy

{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}

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.

Expectation of fund manager

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Last month showed again how heavily the capital markets are dependent on monetary policy today. Basically, every economic indicator that is published immediately gets analyzed on its impact on the future policy of central banks, especially that of the Fed. As long as investors can rely on the Fed's dovish position, the stock market will have good support. A modest slowdown in GDP growth, moderate progress on the labor market and sluggish inflation expectations recently played into the Fed's hands, as they delivered the necessary arguments to further postpone the decision to reduce the monthly asset purchases. Nonetheless, we believe that the time for tighter global monetary conditions is nearing. We see the risk increasing that the economy will start to deviate from the Fed's preferred path of moderate growth. On the one hand, the risk of interest rates rising again is far from being averted. US inflation has recently exceeded expectations and many economists expect this trend to last longer. On the other hand, economic growth might fall below expectations as Covid cases (Delta variant) surge and the recovery loses momentum again.

Michiel Plakman, CFA
Michiel Plakman, CFA

Michiel Plakman, CFA

Michiel Plakman is Head of the Sustainable Global Equity Team, which is responsible for managing the Sustainable Global Stars and Global SDG Impact products at Robeco. Michiel is the lead manager for the Sustainable Global Stars and Global SDG Impact portfolios at Robeco. Prior to joining Robeco in 1999, Michiel Plakman worked for two years as a Portfolio Manager Japan at Achmea Global Investors. From 1995 to 1997, he held a position as Portfolio Manager European Equities at KPN Pension Fund. Michiel holds a Master's degree in Econometrics from the Free University of Amsterdam and he is a CFA charter holder.

Details

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Management company
Fund capital
Size of share class
Outstanding shares
ISINLU2145461161
BloombergRSGSESE LX
Valoren55777423
WKNA2QD2P
Availability
1st quotation date1603929600000
Close financial year31-12
Legal status
Tracking error limit (%)
Morningstar
Reference index

Cost of this fund

Ongoing charges

This fund deducts ongoing charges of
These charges comprise
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Transaction costs

The expected transaction costs are

Performance fee

This fund may also deduct a performance fee of

Extra fees

max entry fee
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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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Disclaimer

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