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RobecoSAM Sustainable Healthy Living Equities I USD

Index: MSCI World Index TRN
ISIN: LU2146190249
  • 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 I 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 -5.38%. The RobecoSAM Sustainable Healthy Living Equities strategy performed roughly flat in April, significantly outperforming the broad global markets and benefiting from its defensive exposure to the consumer and healthcare sectors. On an individual stock level, the biggest positive contributions again came from salmon farming stock Leroy Seafood. The company benefited from rising salmon market prices and a tight global salmon supply situation. Novo Nordisk also performed well, with investors increasingly recognizing the growth opportunities for its most modern (GLP-1) diabetes and obesity drugs and its elevated return on invested capital. The biggest negative contributions came from frozen food company Nomad Foods and Dentsply Sirona. Nomad Food's share price suffered from investor concerns on increasing raw material prices. Dentsply Sirona, on the other hand, reported disappointing first-quarter results, mainly caused by constraints in supplying electronic components for its dental equipment and exchange rate headwinds (weak euro). The unexpected dismissal of its CEO did not help to support investor confidence and pointed to underlying operational difficulties in the quarter.

Statistics

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Market development

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Challenging market conditions continued in April. Markets have recovered from the lows at the beginning of March, but April saw some declines in the broad global markets again. The zero infection policy and lockdowns in China have delayed the normalization of global supply chains in the global economy. Currently, increased costs for supply, energy and logistics are creating challenging operating conditions for companies across many sectors and are making them struggle to protect their margins. This mostly requires companies to pass on increased costs through price increases, which in turn raises concerns that higher prices may negatively impact consumer demand. So far, however, the recent company reporting has shown little evidence that this is already the case. Companies have mostly been reporting robust consumer demand, despite price increases. Therefore, it is not surprising that consumer staples was the best-performing sector in April and also benefited from its defensive qualities, followed by energy. Healthcare also played out its safe haven status and moderately outperformed the broad markets, whereas consumer discretionary continued to underperform.

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 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 lifestyle diseases and increasing healthcare costs, by investing in companies that provide technologies, products or services, medical treatments linked to the prevention of disease and reducing 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, and Clean water and sanitation. The fund integrates ESG (Environmental, Social and Governance) factors in the investment process and applies Robeco’s Good Governance policy. The fund applies sustainability indicators, including but not limited to, normative, activity-based and region-based exclusions, and proxy voting. The fund also aims 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. 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_20220430-CGF HEAL_20220430-sdgIndividualImpact1_noPoverty.png CGF HEAL_20220430-CGF HEAL_20220430-sdgIndividualImpact2_zeroHunger.png CGF HEAL_20220430-CGF HEAL_20220430-sdgIndividualImpact3_goodHealthAndWellBeing.png CGF HEAL_20220430-CGF HEAL_20220430-sdgIndividualImpact4_qualityEducation.png CGF HEAL_20220430-CGF HEAL_20220430-sdgIndividualImpact5_genderEquality.png CGF HEAL_20220430-CGF HEAL_20220430-sdgIndividualImpact6_cleanWaterAndSanitation.png CGF HEAL_20220430-CGF HEAL_20220430-sdgIndividualImpact7_affordableAndCleanEnergy.png CGF HEAL_20220430-CGF HEAL_20220430-sdgIndividualImpact8_decentWorkAndEconomicGrowth.png CGF HEAL_20220430-CGF HEAL_20220430-sdgIndividualImpact9_industryInnovationAndInfrastructure.png CGF HEAL_20220430-CGF HEAL_20220430-sdgIndividualImpact10_reducedInequalities.png CGF HEAL_20220430-CGF HEAL_20220430-sdgIndividualImpact11_sustainableCitiesAndCommunities.png CGF HEAL_20220430-CGF HEAL_20220430-sdgIndividualImpact12_responsibleConsumptionAndProduction.png CGF HEAL_20220430-CGF HEAL_20220430-sdgIndividualImpact13_climateAction.png CGF HEAL_20220430-CGF HEAL_20220430-sdgIndividualImpact14_lifeBelowWater.png CGF HEAL_20220430-CGF HEAL_20220430-sdgIndividualImpact15_lifeOnLand.png CGF HEAL_20220430-CGF HEAL_20220430-sdgIndividualImpact16_peaceJusticeAndStrongInstitutions.png CGF HEAL_20220430-CGF HEAL_20220430-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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The risks to economic growth have increased recently due to inflation, the expected response from central banks, the war in Ukraine and the lockdowns in China. It is not clear how fast inflation numbers will recede again and how long the strong consumer demand in the course of economic normalization after the pandemic will continue. This is creating a market environment with a larger dispersion of equity returns than in the past few years. It will therefore be even more important to focus on solid business fundamentals, pricing power and quality.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 Portfolio Manager of the RobecoSAM Sustainable Healthy Living Equities strategy. He joined Robeco in 2019. 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. He also managed the Demography Health basket certificate for Bank J. Safra Sarasin for a five year period. Prior to this, he was an investment analyst for private biotechnology companies with Schweizerhall Management AG in Zurich. He started his career in finance in 2003 as a Healthcare Analyst at the investment company BT&T after some years in biomedical research. David holds a Master’s in Biochemistry and a PhD in T-cell Immunology, both from ETH Zurich.

Details

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Management company
Fund capital
Size of share class
Outstanding shares
ISINLU2146190249
BloombergRSSHLIU LX
Valoren55753616
WKNA2QD3D
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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