Rotterdam, 20 April 2017 – Robeco announced today that Mark Glazener will be stepping down as lead portfolio manager of Robeco Global Stars Equities Fund N.V. with effect from 1 May. Jan Keuppens, currently co-portfolio manager, will take over his tasks and responsibilities. Together with the Global Equity team, Jan Keuppens is currently responsible for managing Robeco Global Stars Equities Fund N.V., (formerly Robeco N.V.) and Robeco Global Stars Equities, the Luxembourg variant.
Robeco Global Stars Equities Fund N.V., with around EUR 2.8 billion under management as at the end of March, announced last year that the fund would pursue a more concentrated investment policy, reducing the number of positions in portfolio to around 30 to 40 names. With the approval of its shareholders, the fund’s name has also been changed from Robeco N.V. to Robeco Global Stars Equities Fund N.V. to more closely reflect the fund’s high conviction strategy. After intense involvement in this process, Mark Glazener considers this is the right time to take up a new challenge at Robeco. Subject to approval from the relevant supervisor, he will join the board of directors of Robeco Luxembourg.
Jan Keuppens started his career in the investment industry in 1997. He has held final responsibility for Robeco Global Stars Equities since 2008, and has a proven track record in concentrated investments. This has led to an average performance of 14.87% over the last five years (compared to 14.27% for the reference index, the MSCI World Index (Net Return)) and a five-star rating from Morningstar for the Luxembourg version of the fund.*
The investment philosophy of Robeco Global Stars Equities Fund N.V. will remain unchanged, with a focus on stocks with good free cash flows and good returns on invested capital. Sustainability criteria will continue to play an important part in stock selection.
Mark Glazener explains: “I have hugely enjoyed working to achieve the best possible returns for the shareholders of the fund over the past 13 years. The fund has a four-star rating from Morningstar and thus scores above average in its category. I want to thank the shareholders for the trust they have placed in myself and the team over many years. After being closely involved in the transition to fewer positions, I think it is time to hand the baton over to Jan Keuppens and his team. I would like to thank the Global Equity team for their efforts and penetrating analyses. I wish Jan and the team every success in continuing the good performance.”
* Robeco Global Stars Equities F EUR, as of the end of March 2017.