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RobecoSAM Sustainable Food Equities D EUR

Reference index: MSCI World Index TRN
ISIN: LU0374106754
  • Invest in companies that play an integral role in the long-term provision of food security
  • Strong long-term track record vs. both peers and the underlying crop complex
Assets class
Current price ()
Performance YTD ()
Currency EUR
Total size of fund ()
Dividend payingNo

About this fund

RobecoSAM Sustainable Food Equities invests in stocks in developed and emerging countries across the world. The selection of these stocks is based on fundamental analysis. The Fund focuses on investment opportunities arising from the ongoing food sector transformation. The management team aims to identify and invest in market leaders, which offer sustainable solutions for food quality and security, automation and processing, resource utilization, and consumer demand shifts. By combining RobecoSAM thematic research expertise with sustainability analysis, ESG criteria are fully integrated along the investment process across key sustainable food areas.

Price development

No performance data available

Price development

RobecoSAM Sustainable Food Equities D 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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Equity markets moved slightly higher in September, with healthcare and energy outperforming. The food sector performed slightly better, as did the fund. Energy price inflation continued, with Brent rising 7% and Natural Gas 2%, partly contributing to firmer nutrient prices. Global crop inventories are projected to gradually tighten, driven by corn and wheat, after peaking in 2016. Tariff talk calls future trade between the US and China into question and an increasing number of reported swine-fever incidents in China have pushed local pork prices higher. Global producers could benefit if local supply becomes constrained and the consumer’s preference for non-domestic products increases. The crop protection market is expecting a solid upcoming season in South America, given the local premium for soy. However, the renewed controversy around glyphosate adds uncertainty to future cash flows from key players and is one reason why we maintain our conservative stance. The consumer shift towards clean label food products was again underpinned this month by large suppliers of ingredients and this is expected to drive 7-9% growth rates for small and private label producers compared to 5% for big food clean labels.

Fund allocation

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Name Sector Weight
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Fund Classification

YesNoN/A 
Voting
Engagement
ESG integration
Exclusion
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Screening
Integration
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

For RobecoSAM Sustainable Food Equities, the initial universe consists of companies that offer products and services related to the global food sector. By combining RobecoSAM thematic research expertise with sustainability analysis, ESG criteria are fully integrated along the investment process across key sustainable food areas. Specialized sustainability screens for the food sector that assess extra-financial data (e.g. animal welfare, plant protection chemicals, forestry certification etc.) are applied as part of the due diligence process. In addition, voting and engagement practices form an integral part of the strategy’s investment process. By collaborating closely with internal engagement specialists, the investment management team places emphasis on having constructive dialogues with food companies to encourage sustainable business practices.

Investment policy

Allocation to thematic strategies that are based on long-term trends offer possibilities of outperforming the broader market over a 3-5 year investment horizon. This theme fund invests in companies in the food industries worldwide that benefit most from the selected long-term trends Demographic changes and the shortage of resources are the main long-term trends that form the basis of our thematic strategies. The structured investment process adopted by the fund aims to invest in the most attractive companies in the universe of international equities along the entire food value chain. The first step in this process is to perform a macroeconomic analysis to pick out those trends which have a significant influence on the food industry. The process subsequently identifies all companies that demonstrate a clear correlation to the investment theme and stand to benefit most from the trends and developments highlighted. RobecoSAM evaluates the absolute and relative attractiveness of individual companies in terms of investment and growth potential on the basis of systematic analysis using a discounted cash flow (DCF) model and a quantitative assessment of financial and sustainability criteria. The composition of the portfolio is then defined taking into account risk-specific criteria.

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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Concerns about more trade tariffs and their impact on global economic growth are likely to continue to weigh on the stock markets. If contained, the fund management remains confident that the global economy will follow a fairly benign growth path, with only limited inflationary pressure building up. This should be supportive for the stock markets. The focus of our stock selection remains on companies with differentiated business models, high barriers to entry, able to sustainably generate superior long-term returns. We consider providers of mechanization and digitization solutions on the farm and in food production and logistics to be the major beneficiaries. Furthermore, we expect the ongoing consumer shift towards more conscious eating to have a profound effect on the entire food supply chain.

Holger Frey, CAIA
Holger Frey, CAIA

Holger Frey, CAIA

Holger Frey is Senior Portfolio Manager responsible for managing the RobecoSAM Sustainable Food strategy. Additionally, he is the Deputy Portfolio Manager for the RobecoSAM Sustainable Water strategy. Prior to joining, Holger worked for 10 years as a Portfolio Manager and Analyst for Sustainable Equities at Deutsche Asset & Wealth Management. In this role he was the Lead Portfolio Manager of the DWS Agriculture Index and the DWS Water Sustainability Fund. Previously, he worked for 2 years as a financial services consultant for KMPG Consulting/Bearing Point in the Asset Wealth Management Practice Group. Before that he worked at CompuNet/German Stock Exchange and as a graduand at KfW Bankengruppe. He holds a Bachelor's degree in Computer Science and Media from the University of Applied Sciences in Fulda, a Bachelor's of Arts degree in Musicology from the Johann Wolfgang Goethe University in Frankfurt and is a Chartered Alternative Investment Analyst (CAIA) Charterholder.

Details

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Management company
Fund capital
Outstanding shares
ISINLU0374106754
BloombergROBAGED LX
Valoren4366560
WKNA0RB5R
Availability
1st quotation date1219968000000
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

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This fund may also deduct a performance fee of

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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.

Disclaimer

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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