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Robeco ONE Neutraal

ISIN: NL0010220828
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Performance YTD ()
Currency EUR
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Dividend payingNo

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 1.01%. The Multi Asset Sustainable Fund once again delivered a positive performance in June. The fund continues to recoup the losses of the first quarter of the year. It benefited from the tactical allocation decision to tilt the portfolio more towards the riskier part of the bond market. The best performing fund in the portfolio was RobecoSAM Smart Energy Fund. This fund is part of the allocation bucket dedicated to impact investing. The best-performing fixed income fund was RobecoSAM Global SDG Credits.

Statistics

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Market development

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In June, the impact of the easing of lockdown measures started to become visible. The gradual recovery of economic activity started to show in the economic numbers. A wide spectrum of data started to handsomely beat consensus expectations. A sharp increase in global car sales and strong retail sales show that consumers are willing to spend. While encouraging, it must be stressed that uncertainty remains. Capacity utilization rates are near cyclical lows. Employment data remain inconclusive. A positive is that on both sides of the Atlantic consumer and producer confidence is improving. A major risk for the recovery remains the pandemic. Financial markets remain torn between an improving economic backdrop and news on the virus outbreak. Both central banks and governments continued to provide support and as such remain an important backstop. Almost all major asset classes delivered positive returns this month. The exception was hard currency emerging market debt. The best-performing asset classes were emerging market equities and commodities. Oil in particular had a good month.

Fund allocation

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Fund Classification

YesNoN/A 
Voting
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ESG integration
Exclusion
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Screening
Integration
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 primarily invests in funds of the Robeco Group. Robeco is dedicated to sustainability investing and we integrate sustainability aspects into our investment processes wherever possible. The equity funds in the portfolio use the Smart ESG score framework that finds companies with better management of risks and opportunities. Besides that, the Robeco exclusions policy applies in areas of controversial products or business practices. The bond funds in the portfolio also apply to the ESG integration standards, as well as to the exclusions policy, were government bonds issued by controversial countries from the investable universe are excluded. Capabilities from other asset managers might be selected if no comparable Robeco product is available. Such funds are currently out of the scope of the sustainability screening.

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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We have a preference for assets that are priced relatively attractively and either lagged the rally or continued to enjoy some sort of support from central bank buying programs. We consider risky assets that are aggressively priced for a V-shaped economic recovery less appealing. Equity markets appear to have discounted the shortest recession in recent history and seem to be anticipating a strong V-shaped recovery. While a V-shaped recovery is possible, it is not a given. Despite the dampening effect of monetary and fiscal stimulus, the consumption dropout due to very high unemployment may continue for longer. There are currently few signs that positive momentum is weakening. The US-China tension flare-up, US domestic unrest and rising Covid-19 infections in emerging markets all seem to have failed to disturb the equity markets. The strong hands of central banks and governments continue to drive momentum. We maintain a slight underweight in equities. On the other hand, we are overweight in high yield corporate bonds, investment grade corporates and commodities.

Jeroen Blokland
Jeroen Blokland

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.

Details

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Management company
Fund capital
Size of share class
Outstanding shares
ISINNL0010220828
BloombergRBONENE NA
Valoren
WKN
Availability
1st quotation date1349395200000
Close financial year31-12
Legal status
Tracking error limit (%)
Morningstar
Reference index

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