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RobecoSAM Sustainable Healthy Living Equities D USD

Index: MSCI World Index TRN
ISIN: LU2146189589
  • Healthy living companies are helping to shape a new consumer
  • Interesting investment return history in a comparatively defensive fund
Asset class
Current price ()
Performance YTD ()
Currency USD
Total size of fund ()
Dividend payingNo

About this fund

RobecoSAM Sustainable Healthy Living Equities is an actively managed fund that invests globally in companies that promote good health and well-being and contribute to an efficient healthcare system. The selection of these stocks is based on fundamental analysis. The fund's objective is to achieve a better return than the index. The strategy integrates sustainability criteria as part of the stock selection process and through a theme-specific sustainability assessment. The portfolio is built on the basis of an eligible investment universe that includes companies whose business models contribute to the thematic investment objectives. The assessment regarding relevant SDGs uses an internally developed framework, more information on which can be obtained at www.robeco.com/si.

Price development

No performance data available

Price development

RobecoSAM Sustainable Healthy Living Equities D USD

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).
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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 6.46%. In December, the RobecoSAM Healthy Living Equities fund registered a solid positive performance, significantly outperforming the broad global markets. The Lifestyle Disease Solutions cluster performed best, followed by Healthy Nutrition and Hygiene & Personal Care. Activity was the only cluster with a negative performance, caused mainly by concerns over higher supply chain costs. On an individual stock level, the biggest positive contribution came from Cerner, following an acquisition offer by Oracle at a premium of about 20% over the last unaffected price. It was followed by CVS Health, which is increasingly getting credit for the merits of its unique combination of pharmacy chain, primary care in-store practices, pharmacy (pharmacy benefit manager) and managed care health insurance services. UnitedHealth Group also performed well. The investor day confirmed its excellent position to grow further in managed care by leveraging the Optum pharmacy benefit business. The biggest negative contribution came from Deckers, which is seeing higher freight costs, port delays and container shortages weighing on its gross margin.

Statistics

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Market development

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In December, the broad markets recovered from the correction towards the end of the previous month, which was triggered by the emergence of the new Omicron coronavirus variant and fears of new lockdowns. The positive performance also occurred against a background of other concerns already looming for several months. These relate to whether or not inflation is more permanent than expected; rising input and labor costs weighing on the margins of companies that cannot hike up prices in time; and central bank tapering of the money supply. Thus after a short period in which pandemic-related stocks such as vaccines and diagnostics were favored, market participants repositioned themselves, mostly for economic normalization again.In the broad global markets, the consumer staples and utilities sectors performed best, followed by materials. Industrials and healthcare performed roughly in line with the broad market, while consumer discretionary was the only sector with a negative performance in the month. In terms of regional segmentation, European markets significantly outperformed the US. Emerging markets and the Asia-Pacific region lagged behind.

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

The fund’s sustainable investment objective is to promote good health and well-being and contributing to an efficient healthcare system. Healthy living and sustainability considerations are incorporated in the investment process by the means of a target universe definition, exclusions, ESG integration, and voting. The fund only invests in companies that have a significant thematic fit as per Robeco's thematic universe methodology. Through screening on both Robeco's internally developed SDG Framework and Robeco’s exclusion policy, the fund does not invest in issuers that have a negative impact on the SDGs, are in breach of international norms or where products have been deemed controversial. Financially material ESG factors are integrated in the bottom-up fundamental investment analysis to assess existing and potential ESG risks and opportunities. In addition, where a stock issuer is flagged for breaching international standards in the ongoing monitoring, the issuer will become subject to exclusion. Lastly, the fund makes use of shareholder rights and applies proxy voting in accordance with Robeco's proxy voting policy.

Investment policy

RobecoSAM Sustainable Healthy Living Equities is an actively managed fund that invests globally in companies that promote good health and well-being and contribute to an efficient healthcare system. 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 aims to mitigate the rising incidence of chronic “lifestyle diseases” and increasing healthcare costs by investing in companies that provide technologies, products or services linked to the prevention of disease through healthy eating habits, regular exercise and the use of hygiene measures to reduce the spread of infectious diseases. This is done by investing in companies that mainly advance the following UN Sustainable Development Goals (UN SDGs): Good health and well-being, Zero hunger, Industry, innovation and infrastructure, and Clean water and sanitation. Alongside proxy voting and engagement, the fund applies Robeco’s Exclusion Policy of excluding investments in companies exposed to controversial behavior and controversial products (including weapons, tobacco, palm oil, fossil fuel, military contracting, firearms, nuclear power, cannabis, alcohol, gambling, adult entertainment and cannabis). The strategy integrates sustainability criteria as part of the stock selection process and through a theme-specific sustainability assessment. The portfolio is built on the basis of an eligible investment universe that includes companies whose business models contribute to the thematic investment objectives. The assessment regarding relevant SDGs uses an internally developed framework, more information on which can be obtained at www.robeco.com/si. Benchmark: MSCI World Index TRN. The majority of stocks selected will be components of the benchmark, but stocks outside the benchmark may be selected too. While the investment policy is not constrained by a benchmark, the fund may use one 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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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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CGF HEAL_20211231-CGF HEAL_20211231-sdgIndividualImpact1_noPoverty.png CGF HEAL_20211231-CGF HEAL_20211231-sdgIndividualImpact2_zeroHunger.png CGF HEAL_20211231-CGF HEAL_20211231-sdgIndividualImpact3_goodHealthAndWellBeing.png CGF HEAL_20211231-CGF HEAL_20211231-sdgIndividualImpact4_qualityEducation.png CGF HEAL_20211231-CGF HEAL_20211231-sdgIndividualImpact5_genderEquality.png CGF HEAL_20211231-CGF HEAL_20211231-sdgIndividualImpact6_cleanWaterAndSanitation.png CGF HEAL_20211231-CGF HEAL_20211231-sdgIndividualImpact7_affordableAndCleanEnergy.png CGF HEAL_20211231-CGF HEAL_20211231-sdgIndividualImpact8_decentWorkAndEconomicGrowth.png CGF HEAL_20211231-CGF HEAL_20211231-sdgIndividualImpact9_industryInnovationAndInfrastructure.png CGF HEAL_20211231-CGF HEAL_20211231-sdgIndividualImpact10_reducedInequalities.png CGF HEAL_20211231-CGF HEAL_20211231-sdgIndividualImpact11_sustainableCitiesAndCommunities.png CGF HEAL_20211231-CGF HEAL_20211231-sdgIndividualImpact12_responsibleConsumptionAndProduction.png CGF HEAL_20211231-CGF HEAL_20211231-sdgIndividualImpact13_climateAction.png CGF HEAL_20211231-CGF HEAL_20211231-sdgIndividualImpact14_lifeBelowWater.png CGF HEAL_20211231-CGF HEAL_20211231-sdgIndividualImpact15_lifeOnLand.png CGF HEAL_20211231-CGF HEAL_20211231-sdgIndividualImpact16_peaceJusticeAndStrongInstitutions.png CGF HEAL_20211231-CGF HEAL_20211231-sdgIndividualImpact17_partnershipForTheGoals.png

Sustainability

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The fund’s sustainable investment objective is to promote good health and well-being and contributing to an efficient healthcare system. Healthy living and sustainability considerations are incorporated in the investment process by the means of a target universe definition, exclusions, ESG integration, and voting. The fund only invests in companies that have a significant thematic fit as per Robeco's thematic universe methodology. Through screening on both Robeco's internally developed SDG Framework and Robeco’s exclusion policy, the fund does not invest in issuers that have a negative impact on the SDGs, are in breach of international norms or where products have been deemed controversial. Financially material ESG factors are integrated in the bottom-up fundamental investment analysis to assess existing and potential ESG risks and opportunities. In addition, where a stock issuer is flagged for breaching international standards in the ongoing monitoring, the issuer will become subject to exclusion. Lastly, the fund makes use of shareholder rights and applies proxy voting in accordance with Robeco's proxy voting policy.

Expectation of fund manager

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In the face of extraordinary demand in the aftermath of pandemic lockdowns, supply chain shortages and inflationary pressures have developed. We expect these to ease in the course of next year when normalizing consumer spending habits should drive growth. The new, still poorly understood Covid variant is an overhang to swift economic normalization. We remain constructive on the mid to long-term potential of the equity markets and are making use of the current market conditions to further solidify our positions in companies that have very strong long-term business prospects. We expect that the pandemic will also offer opportunities to implement changes to build more robust and sustainable economies. This, in turn, will make individuals more inclined to adopt a healthier lifestyle. Therefore, the Healthy Living portfolio of sustainable companies should be well positioned to benefit from these changes in the longer run.

David Kägi, PhD
David Kägi, PhD

David Kägi, PhD

David Kägi is a Portfolio Manager responsible for managing the RobecoSAM Sustainable Healthy Living Equities strategy. He is also the Portfolio Manager a.i. for the RobecoSAM Circular Economy Equities strategy. Previously, he worked as a Buy-Side analyst covering the global healthcare sector for Bank J. Safra Sarasin in Zurich, first for Private Banking, then for Asset Management. In the last five years, he also managed the Demography Health basket certificate for Bank J. Safra Sarasin. After some years in biomedical research, he started his career in finance as a Healthcare Analyst at the investment company BT&T, followed by a position as an Investment Analyst for private biotechnology companies with Schweizerhall Management AG in Zurich. David holds a Master’s degree in Biochemistry and a PhD in T-cell Immunology both from the ETH Zurich. He joined Robeco in 2019.

Details

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Management company
Fund capital
Size of share class
Outstanding shares
ISINLU2146189589
BloombergRSSHLDU LX
Valoren55753615
WKNA2QD3C
Availability
1st quotation date1603929600000
Close financial year31-12
Legal status
Tracking error limit (%)
Morningstar
Reference index

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This fund deducts ongoing charges of
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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

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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