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RobecoSAM Sustainable Food Equities G EUR

Reference index: MSCI World Index TRN
ISIN: LU1736383370
  • 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 payingYes

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.

Performance

No performance data available

Performance

RobecoSAM Sustainable Food Equities G EUR

Performance

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Statistics

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Subject 3 years 5 years
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Dividend paying history

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Market development

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Stock markets were up in August. The fund performed better than the market and was ahead of thematic indices. Investors favored US equities, which outperformed other developed markets like Japan and Europe. Emerging market currencies traded lower amid concerns over US trade tariffs. The retail space is trading on a more positive footing this year, with even brick and mortar stores showing the strongest acceleration of 3.8% (year-on-year) since 2011. Although deflation remains a challenge for retailers, companies are citing a much more rational pricing environment compared to the broad-based deflation witnessed in 2016. Given the pressure to reinvent, demand for in-store technology like scanning and mobile computing solutions is showing mid- to high-single digit growth rates. The extraordinary hot summer in Europe is expected to influence various parts of the food sector. Although too early to assess the net impact after special government aids and changing market prices, recent data reveals a significant step-up in herd reduction by dairy farmers compared to last year. The output for grains, from wheat and barley to rapeseed, is expected to be down, with wheat as low as minus 20%.

Fund Classification

DescriptionYesNoN/A 
Voting
Engagement
ESG integration
Exclusion
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Screening
Integration
Sustainability Themed Fund

Fund allocation

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Currency policy

The fund is allowed to pursue an active currency policy to generate extra returns.

Dividend policy

The fund distributes a dividend on an annual basis.

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 may 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 companyRobeco Luxembourg S.A.
Fund capital
Outstanding shares
ISINLU1736383370
BloombergROBSAEG LX
Valoren39530027
WKN
AvailabilityBE, LU, SG, CH
1st quotation date1513209600000
Close financial year31-12
Legal statusInvestment company with variable capital incorporated under Luxembourg law (SICAV)
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

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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.

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