Robeco BP Global Premium Equities F GBP
- Award winning unconstrained Global equity strategy
- Managed by a highly experienced team of bottom-up value investment professionals
- Focus on 'characteristics that work': Valuation, Fundamentals and Momentum
About this fund
Price development
Performance
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundPerformances.date,'llll') ]}}| Fund | Index | |
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| {{'fund.detail.performance.period.sinceInception' | labelize:[ fundDate(fund.fundPerformances.sinceStart.startDate,'MM-YYYY') ]}} |
Annualized (for periods longer than one year)
Initial charges or eventual custody charges which intermediaries might apply are not included.
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 | |
|---|---|---|
Annualized (for periods longer than one year)
Initial charges or eventual custody charges which intermediaries might apply are not included.
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
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}Based on transaction prices, the fund's return was 1.26%. Robeco BP Global Premium Equities trailed the MSCI World Index in October, impacted by stock selection in consumer discretionary, industrials and technology. In consumer discretionary, Honda Motor and not owning Tesla in the automobile industry caused most the impact, while in the industrials sector, Airbus and a collection of industrial conglomerates lagged, including Siemens, Melrose Industries and Hitachi. Within technology, avoiding Microsoft and NVIDIA, for valuation reasons, were the main detractors as well as fund holding Samsung, which declined over 4%. On a positive note, stock selection was strong in healthcare, aided by holdings Anthem and Merck & Co and avoiding some of the more expensive biotech names. Underweight exposure to communication services and consumer staples was additive, while underweight exposure to technology was the largest detractor. Regionally, North America and Europe hurt the relative performance the most.
Statistics
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Market development
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}Global equity markets as measured by the core MSCI World Index had a strong October, rising 5.66% (net/USD), outperforming the MSCI World Value Index, which gained 4.54% (net/USD). All sectors were in positive territory for the month, led by consumer discretionary, energy and information technology.
Fund allocation
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundAllocations.date,'llll') ]}}| Name | Sector | Weight |
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Currency policy
The fund does not apply an active currency policy, currency exposure is driven by security selection.
Dividend policy
The fund aims to achieve optimum return on investments within predetermined risk limits.There is no active dividend policy.
Investment policy
Robeco BP Global Premium Equities invests across the globe in stocks that meet our Three Circles criteria. We seek out attractive valuation, quality businesses, and positive business momentum. The portfolio will always exhibit these characteristics as the portfolio manager can invest in the largest possible universe. Robeco BP Global Premium Equities's management is taken care of by Robeco Boston Partners. This wholly-owned U.S. Robeco subsidiary specializes in value-biased equity investing and boasts an excellent reputation. Boston Partners' investment policy is well known for its unique combination of value-oriented investing, thorough internal research and careful risk management. Wealth preservation comes first. Fund manager Christopher Hart and his team select stocks with a large market capitalization that show good value. The company's fundamentals must be sound. In the stock selection process, carefully developed models are used. Meetings with the companies' management and assessment of corporate data are other essential elements of the selection process.
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.
Sustainability profile
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}The fund does not promote any environmental or social characteristics and is classified under Article 6 of SFDR.
Expectation of fund manager
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}Global equity markets made a strong comeback in October, after a negative previous month. The US market continued to narrow as the cap-weighted S&P 500 outperformed the equal-weighted by 1.7% in the month, while the yield curve (10-year - 2-year) flattened. There are several items coming up in November, with the COP26 summit, the FOMC meeting and the release of other market indicators that will all drive headlines. The earnings season will wrap up and the market will start to look forward to the holiday season, with a focus on consumer spending and supply chain impacts. We will continue to focus at a company-by-company level and as always, the fund remains well positioned with holdings that reflect Boston Partners' three circle characteristics – attractive valuations, solid business fundamentals and identifiable catalysts.
Joshua Jones & Christopher Hart, CFA
Mr. Hart is a senior portfolio manager for Boston Partners Global Equity and International Equity products. Prior to this, he was the portfolio manager for the Boston Partners International Small Cap Value product and before that, an assistant portfolio manager for the Boston Partners Small Cap Value products for three years. Previously, he was a research analyst and specialized in conglomerates, engineering and construction, building, machinery, aerospace & defense, and REITs sectors of the equity market. He joined the firm from Fidelity Investments where he was a research analyst. Mr. Hart holds a B.S. degree in finance, with a concentration in corporate finance from Clemson University. He holds the Chartered Financial Analyst® designation. He has more than 25 years of investment experience. Mr. Jones is a portfolio manager on Boston Partners Global and International products. Prior to this role, he was a research analyst specializing in the energy, metals and mining sectors of the equity market and was a global generalist. He joined the firm from Cambridge Associates where he was a consulting associate specializing in hedge fund clients. Mr. Jones holds a B.A. degree in economics from Bowdoin College. He holds the Chartered Financial Analyst® designation. He has eleven years of investment experience.
Details
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}| Management company | |
| Fund capital | |
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| ISIN | LU1362999218 |
| Bloomberg | ROGFGBP LX |
| Valoren | 31454150 |
| WKN | |
| Availability | |
| 1st quotation date | 1455753600000 |
| Close financial year | 31-12 |
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Cost of this fund
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Extra fees
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Fiscal product treatment
The fund is established in Luxembourg and is subject to the Luxembourg tax laws and regulations. The fund is not liable to pay any corporation, income, dividend or capital gains tax in Luxembourg. The fund is subject to an annual subscription tax ('tax d'abonnement') in Luxembourg, which amounts to 0.05% of the net asset value of the fund. This tax is included in the net asset value of the fund. The fund can in principle use the Luxembourg treaty network to partially recover any withholding tax on its income.
Fiscal treatment of investor
The fiscal consequences of investing in this fund depend on the investor's personal situation. For private investors in the Netherlands real interest and dividend income or capital gains received on their investments are not relevant for tax purposes. Each year investors pay income tax on the value of their net assets as at 1 January if and inasmuch as such net assets exceed the investor’s tax-free allowance. Any amount invested in the fund forms part of the investor's net assets. Private investors who are resident outside the Netherlands will not be taxed in the Netherlands on their investments in the fund. However, such investors may be taxed in their country of residence on any income from an investment in this fund based on the applicable national fiscal laws. Other fiscal rules apply to legal entities or professional investors. We advise 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.
