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 1.69%. Multi Asset Income delivered a solid return in December. The preference for equities at the expense of fixed income contributed positively to the overall performance. Within fixed income, government bonds were the main losers. The riskier part of the fixed income markets performed reasonably well. High yield delivered an almost equity-like return and corporate bonds a marginally positive return. The main driver of the overall performance was the allocation to equities. All equity funds contributed positively to the performance. In December, the best-performing allocations were emerging market equities and Chinese equities.
Statistics
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Market development
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}December was a very good month for risky assets, as they continued their ascent. The drivers for the rally remained the same: central banks continue to underpin loose financial conditions, geopolitical risks are easing, equity risk premiums are still above the historical average and positioning is unproblematic. While we thought that these drivers were fully priced in by now, they continue to underpin risky assets. Within equities, emerging markets did exceptionally well in December. Emerging markets equities suffered disproportionately from the trade war and the prospects that a phase-one trade deal will be signed triggered a substantial relief rally. While in December almost all boats were lifted, there were a few laggards: mainly assets that have strong links to developed market interest rates.
Fund allocation
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundAllocations.date,'llll') ]}}| Name | Sector | Weight |
|---|---|---|
Fund Classification
| Yes | No | N/A | ||
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| Voting | ||||
| Engagement | ||||
| ESG integration | ||||
| Exclusion |
| Yes | No | N/A | ||
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| Screening | ||||
| Integration | ||||
| Sustainability Themed Fund |
Currency policy
Except for the active currency positions, currency risks are partly hedged to the base currency of the fund (EUR). This share class uses an additional NAV currency hedge to minimize the effects of currency fluctuations between base currency of the fund (EUR) and currency of the share class (USD).
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') ]}}While we lowered the weight of equities in late November, our exposure to the equity market remained above average. Shortly after we lowered the weight of equity in the portfolio, it was announced that China and the US had reached agreement on a phase-one trade deal. This provided a massive boost to market sentiment, as a major risk that haunted the market in 2019 became less of an issue. For us this was a trigger to increase our equity weight once again. Our current weight in equities is lower than the weight over the past 12 months. We see this as temporary as it remains our belief that equities have not reached their peak for this cycle yet. However, we do think that there will be opportunities to buy equities at a better levels.
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
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| Management fee | ||
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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.
