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Robeco ONE Offensief

ISIN: NL0010220836
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Currency EUR
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About this fund

Robeco ONE Offensief 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 high risk-return profile. A large part of the portfolio will be invested in equity funds and a limited part in 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 Offensief

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 2.27%. Most risky asset classes performed well in September, with global equities leading the pack. The exception was high yield bonds which realized a small negative return for the month. As in previous months, global high yield bonds were the biggest underweight in the portfolio. Equities were slightly overweight, which attributed positively to the overall performance.

Statistics

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Market development

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The economic picture remains unclear. Globally, manufacturing data keeps disappointing and this makes people cautious. On the other hand, the services sector still seems pretty healthy although some slowing seems to be taking place. Overall, the consumer side and the labor markets remain in good shape. Financial markets have difficulty digesting these conflicting signals about the economy, and are jittery. On top of this, the trade dispute and Brexit linger on. Geopolitical tensions also remained high due to the situation in Hong Kong and the attack on a Saudi oil facility. A comfort for the markets is that several central banks across the globe have eased monetary policy. The central bank put is still very much alive. Given these challenging circumstances, financial markets and particularly the more risky segments, like equity markets, did not do too badly this month.

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

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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In September, we increased the risk profile of the portfolios by increasing the equity weights. Although economic data remains inconclusive and geopolitical tensions increased, trade tensions eased. Trade tensions remain a big driver of current market sentiment and as long as that is the case any easing of tension tends to be positive for equity markets. Another positive for the markets is that it is evident that central banks are willing to provide support. Our current positioning is more in line with our long-term view that we are not heading into an immediate recession. We are however in the later stages of the cycle, a phase in which normally equities tend to do quite well.

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
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Outstanding shares
ISINNL0010220836
BloombergRBONEOF NA
Valoren
WKN
Availability
1st quotation date1349395200000
Close financial year31-12
Legal status
Tracking error limit (%)
Morningstar
Reference index

Cost of this fund

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