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Robeco ONE Neutraal

ISIN: NL0010220828
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Currency EUR
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About this fund

Robeco ONE Neutraal is an actively managed portfolio providing a worldwide exposure to a mix of investment categories, such as equity, bond and cash. It mainly invests in Robeco funds. The mix of investment categories reflects a fairly high risk-return profile. A considerable part of the portfolio will be invested in equity funds and bond funds. The allocation can be adjusted to market circumstances, to meet return expectations within the limits of the risk-return profile.

Price development

No performance data available

Price development

Robeco ONE Neutraal

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.

Performance explanation

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Based on transaction prices, the fund's return was 2.42%. For the fourth consecutive month, the performances of the Robeco ONE portfolios were positive. This was mainly due to rising stock markets, with some of them setting new records. There were no changes in the asset mix in April, where equities had a slightly higher-than-average weight in the portfolio. This contributed positively to the performance. It was partly offset by the negative stance towards credits and high yield bonds.

Statistics

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Market development

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The most important equity markets have risen between 15% and 20% so far this year. The US markets set a new record high, and the broad MSCI World Index in EUR also rose to an all-time high. But these returns were only half the performance of the oil index during the same period (+39%). The earnings season took center stage in April, where a majority of the companies reported better-than-expected earnings over the first quarter. In the US, the macroeconomic figures were better than expected, fueling the positive sentiment. In fixed income, the best returns were seen in the riskier segments. US Treasuries and German bunds yielded negatively. Given the meager developments in the European economy combined with a European Central Bank that stands on the sideline, we do not expect yields to move fast forward or backward. Credits and high yield benefited from the declining risk premium, but by now these categories are 'stretched' to say the least, with greater chances of a spread widening versus a further tightening.

Fund allocation

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Fund Classification

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Sustainability Themed Fund

Currency policy

The fund has an active currency policy, as part of which the currency risk can be hedged to the euro. This process takes into account the currency policy of the funds and instruments in which the fund invests.

Dividend policy

In principle, the fund distributes its annual fiscal earnings as dividend. The fund's policy aims at realizing as the maximum possible capital growth within the pre-set risk limits. A high dividend return therefore is not a separate objective.

ESG Integration policy

Robeco ONE Neutraal mainly invests in other funds. Therefore ESG integration might apply indirectly.

Investment policy

A well-diversified portfolio consists of a combination of equities, bonds and cash. The proportion between these three asset categories is mainly determined by the investor's target risk profile. The Mix funds mainly invest in Robeco funds, benefiting on a broad front from Robeco's expertise in investing. The fund's mix of investments means it has a very favorable risk/return profile. The aim is to achieve the target return using an active mix policy. The Mix funds mainly invest in Robeco funds, benefiting on a broad front from Robeco's expertise in investing. The fund's mix of investments means it has a very favorable risk/return profile. The aim is to achieve a higher return than the benchmark using an active mix policy.

Risk policy

Risk management is fully embedded in the investment process to ensure that the fund's positions remain within set limits at all times.

Expectation of fund manager

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In April, we did not make any changes to our portfolios. The overweight positions in both developed and emerging markets were already lowered to only minor overweights, as we expected equity markets to drift slightly higher, but market prices already include most good news according to our view. As high yield and credits are underweight, the portfolio in fact has a slightly positive risk profile. After the series of tweets of President Trump early May regarding the trade war between the US and China, we immediately reduced these weights to neutral across the portfolios.

Ruud van Suijdam, Jeroen Blokland
Ruud van Suijdam, Jeroen Blokland

Ruud van Suijdam, Jeroen Blokland

Mr. Jeroen Blokland is Portfolio Manager with Robeco within the Robeco Global Allocation team. Jeroen is portfolio manager of the Robeco Pension Return Portfolio since the launch in March 2012. Prior to joining the Robeco Global Allocation team, he was employed by IRIS, the independent Institute for Research and Investment Services of Robeco and Rabobank, as an Investment strategist since 2005. He started his career at Interpolis in 2002, where he held a position as asset manager and investment strategist. Jeroen holds a Master's degree in Economics from Erasmus University, Rotterdam. Mr. Ruud van Suijdam is Portfolio Manager Global Allocations at Robeco since June 2011. From October 2007 to June 2011, Ruud worked for Rabobank Nederland as an Analyst/ Product manager for Investment funds. Previous affiliations include a position as Investment Analyst at IRIS and a position as Investment Advisor at Rabobank. Ruud holds a Master's degree in Financial Economics from the University of Groningen.

Details

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ISINNL0010220828
BloombergRBONENE NA
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WKN
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1st quotation date1349395200000
Close financial year31-12
Legal status
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Morningstar
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