Robeco Multi Asset Income I USD
- Worldwide investments in multiple asset classes
- Focus on investments with attractive and stable sources of income
- Flexibility to seek the best risk-return opportunities
About this fund
Price development
Performance
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundPerformances.date,'llll') ]}}| Fund | Reference 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 5.55%. November was a good month for Multi Asset Income. The fund delivered a monthly return substantially above 2% in November. The fund benefited from the substantial rise in equity markets. Equity markets moved higher on the back of the positive vaccine news. The weight of equities in the portfolio was raised further, at the expense of cash. The portfolio continues to hold a sizable exposure to high yield and emerging market debt. Almost all strategies in the portfolio contributed positively to the overall return. The best-performing strategy in the portfolio was Robeco QI Global Value Equities.
Statistics
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Market development
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}In November, optimism returned to the stock markets. The driver of this optimism was positive news on the development of vaccines. This means there is light at the end of the tunnel following the deepest recession since the 1930s. New stock market records were set in response. Cyclical and value stocks, which have lagged significantly this year, were among the top performers. November was also the month dominated by the US presidential elections. Based on the current projections Biden won, even though President Trump has not conceded he lost the elections. Despite the euphoria on the stock markets, macroeconomic data disappointed. The global economy's recovery will stall in the near-term. The increasing number of infections impacted both consumer and producer confidence and triggered governments to take additional social distancing measures. The slowing of the economy illustrates the fragile nature of the recovery. In the US, new fiscal stimulus continues to be delayed and cracks have started to appear in the collaboration between fiscal and monetary authorities. A positive is the commitment of central banks to continuing to provide ample liquidity.
Fund allocation
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundAllocations.date,'llll') ]}}| Name | Sector | Weight |
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Fund Classification
| Yes | No | N/A | ||
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| Voting | ||||
| Engagement | ||||
| ESG integration | ||||
| Exclusion |
| Yes | No | N/A | ||
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| Sustainability Themed Fund |
Dividend policy
This share class of the fund does not distribute dividend.
ESG Integration policy
Robeco Multi Asset Income primarily invests in Robeco funds. Robeco strives to incorporate ESG issues in investment decisions. For the majority of the investments ESG integration occurs indirectly. The ambition is to have ESG integration for the full composition of the portfolio. Sustainability can be a decisive factor in the fund-selection process. Capabilities from other asset managers can be selected. Such funds are currently out of the scope of the sustainability screening.
Investment policy
Robeco Multi Asset Income is an actively managed global multi-asset fund with a focus on generating stable returns. The fund has a relatively low risk profile and mainly invests in equity and bond funds of Robeco and RobecoSAM. The portfolio management team can also use other investment instruments to enhance the risk/return profile of the fund. The fund is managed by an experienced team of specialists in multi-asset investing with a proven track record of more than 20 years. The investment strategy also relies on the sustainability research of RobecoSAM. RobecoSAM is an investment specialist focused exclusively on Sustainability Investing with more than 20 years of experience in sustainability, thematic and impact investing.
Risk policy
Risk management is fully integrated into the investment process to ensure that positions meet predefined guidelines.
Expectation of fund manager
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}December often delivers an excellent final chord for stock markets, with a 75% chance of an above-average historical monthly return. However, several sentiment indicators (cash holdings of investors has fallen, put/call ratio is high, retail sentiment is very optimistic) indicate that the equity markets are starting to look a bit frothy after the historic November rally. If you look at the recent outperformance of cyclical stocks in comparison to defensive stocks and compare this with other economic growth proxies such as the silver/gold ratio, the performance of cyclical stocks is somewhat ahead of things. The market must steer a course between downside risk in the short term and upside risk in the longer term as a result of positive vaccine-related news. Increasing cases of Covid-19, a difficult transfer of power, the absence of fiscal stimulus in the US, and Brexit could lead to a more rocky path for stock markets in the coming months. We are maintaining our overweight position in equities, with a preference for Europe, Japan and emerging markets. The longer-term perspective for risky investments remains positive.
Jeroen Blokland, Ernesto Sanichar
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. Ernesto Sanichar is Portfolio Manager with a focus on pension fund mandates. His asset specialties are fixed income and FX. He has been part of Robeco's Investment Solutions department since 2005. Previously, he was Treasury Manager for four years. Prior to joining Robeco in 2001, Ernesto worked at ING Barings as a Product controller at the cash equities and derivatives desk for three years. Ernesto started his career in the investment industry in 1998. He holds a Master's in Financial Economics from Erasmus University Rotterdam.
Details
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}| Management company | |
| Fund capital | |
| Size of share class | |
| Outstanding shares | |
| ISIN | LU1629880854 |
| Bloomberg | RMAINIU LX |
| Valoren | 37083070 |
| WKN | |
| Availability | |
| 1st quotation date | 1497484800000 |
| Close financial year | 31-12 |
| Legal status | |
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Cost of this fund
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundCosts.managementFees.date,'llll') ]}}Ongoing charges |
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Transaction costs |
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| The expected transaction costs are |
Performance fee |
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| This fund may also deduct a performance fee of |
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 0.01% 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
Investors who are not subject to (exempt from) Dutch corporate-income tax (e.g. pension funds) are not taxed on the achieved result. 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, as well as capital gains in their tax return. Investors residing outside the Netherlands are subject to their respective national tax regime applying to foreign investment funds. 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.
