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Bedrijfsleningenfonds

ISIN: NL0011280748
  • Unique access to Dutch corporate loans.
  • Expected returns of 100 basis points over comparable public loans.
  • Relatively safe loans to strong Dutch companies.
Assets class
Current price ()
Performance YTD ()
Currency EUR
Total size of fund ()
Dividend payingNo

About this fund

The Fund offers institutional investors unique access to loans provided to Dutch companies with an attractive risk-return profile. This is done in collaboration with the top three Dutch banks: ABN AMRO, ING and Rabobank. The strong position of the banks in the medium-sized corporate segment means that the Fund has easy access to loans and can start with a serious target of around EUR 500 million, which can expand to around the EUR 1 billion mark. The Fund focuses on corporate loans of at least EUR 10 million provided to Dutch companies with significant activities in the Netherlands, supplemented with private placements issued by Dutch companies.

Price development

No performance data available

Price development

Bedrijfsleningenfonds

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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Fund allocation

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Fund Classification

YesNoN/A 
Voting
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ESG integration
Exclusion
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Sustainability Themed Fund

Currency policy

All the fund's investments are in EUR.

Dividend policy

The fund does not pay dividends.

ESG Integration policy

BLF lends to - in general – relatively small companies (e.g. companies that generate revenues between EUR 50-150 250mln per annum). As such, most companies in the portfolio are not covered by any external ESG data provider. However, our relevant sector analyst does have deep industry knowledge on potential ESG-factors that we integrate in every loan analysis and discuss during all credit committees. We also use input from conversations with the borrower and the participating bank. We focus on ESG-risks which could materially and financially alter the investment case. The factors discussed are diverse from Corporate Governance issues, supplier risks, exposure to bribery to reputational issues. The loan documentation also often contains specific clauses regarding environmental issues. Please note that all our partner banks also check ESG-factors in their credit process. Nevertheless, Robeco’s ESG policy is leading in all cases. Please find below a general description of the credit analysis and the place of ESG-factors within our general framework that is also applicable for the BLF credit memos One of the cornerstones of the investment philosophy of Robeco’s Credit team is that avoiding losers is more important than picking every winner. The team believes that integrating ESG factors into its analysis strengthens the ability to assess the downside risk of its credit investments.

Investment policy

The Fund offers institutional investors unique access to loans provided to Dutch companies with an attractive risk-return profile. This is done in collaboration with the top three Dutch banks: ABN AMRO, ING and Rabobank. The strong position of the banks in the medium-sized corporate segment means that the Fund has easy access to loans and can start with a serious target of around EUR 500 million, which can expand to around the EUR 1 billion mark. The Fund focuses on corporate loans of at least EUR 10 million provided to Dutch companies with significant activities in the Netherlands, supplemented with private placements issued by Dutch companies.

Risk policy

Please refer to the prospectus for a description. The prospectus can be downloaded from the fund-facts page.

Erik Hylarides
Erik Hylarides

Erik Hylarides

Mr. Hylarides is a Loan Manager in the Credit team. Prior to joining Robeco, Erik Hylarides was as senior portfolio manager high yield bonds and leveraged loans for three years at Aegon Asset Management. Before that he worked as senior credit analyst at ABN AMRO risk management. At ABN AMRO Erik Hylarides was responsible for the independent assessment of credit and transaction risk of corporate customers. He started his career with four years of industry experience as global custody relationship manager. Mr. Hylarides holds a Master's degree in Financial Economics from the Erasmus University of Rotterdam. Erik has been active in the industry since 2000.

Details

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Management company
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ISINNL0011280748
Bloomberg
Valoren
WKN
Availability
1st quotation date1456358400000
Close financial year31-12
Legal status
Tracking error limit (%)
Reference index

Cost of this fund

Ongoing charges

This fund deducts ongoing charges of
These charges comprise
Management fee
Service fee

Transaction costs

The expected transaction costs are

Performance fee

This fund may also deduct a performance fee of

Extra fees

max entry fee
Max exit fee
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Fiscal product treatment

The fund is established in the Netherlands. The fund is closed for corporate-income tax purposes (fiscally transparent). This means that all results are attributed directly to the participants. As a consequence, the fund is not liable to corporate-income tax and withholds no dividend tax.

Fiscal treatment of investor

Investors who are not subject to (exempt from) Dutch corporate-income tax (e.g. pension funds) are not taxed on the achieved result. Dutch tax-exempt bodies may seek a full refund on the 15% dividend tax withheld on dividends (25% prior to 1 January 2007). Interest income is exempt from tax withheld at source. Investors who are subject to Dutch corporate-income tax can be taxed for the result achieved on their investment in the fund. Dutch bodies that are subject to corporate-income tax are obligated to declare interest and dividend income in their tax return. In principle, Dutch bodies that are subject to corporate-income tax may offset the 15% dividend tax withheld on dividends (25% prior to 1 January 2007) against the corporate-income tax and seek a refund of the excess amount. Investors residing outside the Netherlands are subject to their respective national tax regime applying to foreign investment funds. Shareholders who do not pay tax in the Netherlands and who are resident in countries that have a tax treaty with the Netherlands to prevent double taxation may seek a refund for part of the Dutch dividend tax from the Dutch tax authorities, depending on the treaty. As of 1 January 2007, a pension fund having its registered office in another EU member state is also entitled to a Dutch dividend-tax refund. The above is based on the current fiscal legislation and regulations in the Netherlands. We advise individual 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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