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Robeco QI European Conservative Equities C GBP

Index: MSCI Europe Index (Net Return, GBP)
ISIN: LU1321401629
  • Aims for European equity returns with lower downside risk
  • Target stable equity returns and high income
  • Low-risk stocks with attractive valuation and positive momentum
Asset class
Current price ()
Performance YTD ()
Currency GBP
Total size of fund ()
Dividend payingYes

About this fund

Robeco QI European Conservative Equities is an actively managed fund that invests in low-volatility stocks in European countries. The selection of these stocks is based on a quantitative model. The fund's objective is to achieve a better return than the index. The fund will take exposure of at least two-thirds of its total assets to equities of companies incorporated or exercising a preponderant part of their economic activities in Europe. The fund will focus on investing in equities that show lower volatility than average European equity. Conservative stands for the focus on equity with low volatility.

Price development

No performance data available

Price development

Robeco QI European Conservative Equities C GBP

Performance

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Fund Index
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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)
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
The value of the investments may fluctuate. Past performance is no guarantee of future results.
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

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Based on transaction prices, the fund's return was 1.27%. The conservative equities that the fund typically selects as part of its investment strategy, lagged the market last month. From a factor perspective, the low-risk and value factors detracted from performance, while momentum had a positive impact. Negative effects were mainly due to holding stable telecom stocks such as Deutsche Telekom, Swisscom, Telenor and Telia. Moreover, holding postal companies such as PostNL and Deutsche Post detracted from performance. Holding luxury concern Hermès International, which rose to an all-time high after a weak September month, was the most positive contributor.

Statistics

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3 years 5 years
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Above mentioned ratios are based on gross of fees returns.
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Above mentioned ratios are based on gross of fees returns.
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Dividend paying history

Date Amount

Fund allocation

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Name Sector Weight
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Currency policy

Currency risk will not be hedged. Exchange-rate fluctuations will therefore directly affect the fund's share price.

Dividend policy

The fund aims to distribute a dividend of 4% (1% quarterly)

ESG Integration policy

Environmental, Social and Governance (ESG) factors are systematically integrated in the highly disciplined investment process, by using ESG scores based on the S&P Global Corporate Sustainability Assessment. The ESG integration aims for a total ESG score of the portfolio higher than the index. This ensures that stocks with higher ESG scores are more likely to be included in the portfolio while stocks of companies that have very poor ESG scores are more likely to be divested from the portfolio. With these portfolio construction rules we aim for an ESG profile of the fund that is above average compared to its peers. In addition, stocks with corporate governance issues or stocks that have major litigation or regulatory risk may be excluded from the investable universe. Moreover, the environmental footprint of the fund is improved by restricting the GHG emissions, water use and waste generation, aiming for lower levels than the index. As a result stocks with relatively low footprints have a higher probability of being selected in the portfolio compared to stocks with poor environmental footprints. Next to ESG integration, Robeco has an exclusion policy and conducts proxy voting and engagement activities.

Investment policy

Robeco QI European Conservative Equities is an actively managed fund that invests in low-volatility stocks in European countries. The selection of these stocks is based on a quantitative model. The fund's objective is to achieve a better return than the index. The fund aims for a better sustainability profile compared to the Benchmark by promoting certain ESG (i.e. Environmental, Social and corporate Governance) characteristics within the meaning of Article 8 of the European Sustainable Finance Disclosure Regulation and integrating ESG and sustainability risks in the investment process. In addition, the fund applies an exclusion list on the basis of controversial behavior, products (including controversial weapons, tobacco, palm oil and fossil fuel) and countries, next to voting and engaging. The fund will take exposure of at least two-thirds of its total assets to equities of companies incorporated or exercising a preponderant part of their economic activities in Europe. The fund will focus on investing in equities that show lower volatility than average European equity. Conservative stands for the focus on equity with low volatility. The majority of stocks selected will be components of the Benchmark, but stocks outside the Benchmark may be selected too. The fund can deviate substantially from the weightings of the Benchmark. The fund aims to outperform the Benchmark over the long run, whilst still controlling relative risk through the applications of limits (on countries and sectors) to the extent of deviation from the Benchmark. This will consequently limit the deviation of the performance relative to the Benchmark. The Benchmark is a broad market weighted index that is not consistent with the ESG characteristics promoted by the fund.

Risk policy

Risk management is fully integrated in the investment process to ensure that positions always meet predefined guidelines.

Sustainability profile

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Exclusions

Full ESG Integration

Voting & Engagement

ESG Target

ESG score target Footprint target
↑Above Index ↓Below Index

ESG Score

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The portfolio ESG score (and E,S and G score) is calculated by multiplying the RobecoSAM Smart ESG Score of each holding by its respective portfolio or index weight. The same methodology is applied in calculating the key ESG Criterion scores. The scores of the portfolio are provided alongside the scores of the index, highlighting the portfolio’s relative sustainability. The colors indicate the score of the portfolio, whilst the shading shows the index.

CGF ECE_20211031-CGFREUCE_20211031-smartESGScoreTotal.png

Environmental Footprint

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The RobecoSAM footprint ownership of the portfolio expresses the total resource consumption the portfolio finances. Each company's footprint is calculated by normalizing resources consumed by the company's enterprise value. Multiplying these values by the dollar amount invested in each company yields the aggregate footprint ownership figures. The selected index's footprint (for an equivalent $ amount invested in corporates) is provided alongside. The portfolios score is shown in blue and the index in grey.

CGF ECE_20211031-CGFREUCE_20211031-footprintOwnershipCo2.png
Robeco data based on Trucost data. *
CGF ECE_20211031-CGFREUCE_20211031-footprintOwnershipWaste.png
Source: Data based on RobecoSAM impact data.
CGF ECE_20211031-CGFREUCE_20211031-footprintOwnershipWater.png
Source: Data based on RobecoSAM impact data.
* Source: S&P Trucost Limited © Trucost 2021. All rights in the Trucost data and reports vest in Trucost and/or its licensors. Neither Trucost, not its affliates, nor its licensors accept any liability for any errors, omissions, or interruptions in the Trucost data and/or reports. No further distribution of the Data and/or Reports is permitted without Trucost's express written consent.

ESG integration policy

{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}

Environmental, Social and Governance (ESG) factors are systematically integrated in the highly disciplined investment process, by using ESG scores based on the S&P Global Corporate Sustainability Assessment. The ESG integration aims for a total ESG score of the portfolio higher than the index. This ensures that stocks with higher ESG scores are more likely to be included in the portfolio while stocks of companies that have very poor ESG scores are more likely to be divested from the portfolio. With these portfolio construction rules we aim for an ESG profile of the fund that is above average compared to its peers. In addition, stocks with corporate governance issues or stocks that have major litigation or regulatory risk may be excluded from the investable universe. Moreover, the environmental footprint of the fund is improved by restricting the GHG emissions, water use and waste generation, aiming for lower levels than the index. As a result stocks with relatively low footprints have a higher probability of being selected in the portfolio compared to stocks with poor environmental footprints. Next to ESG integration, Robeco has an exclusion policy and conducts proxy voting and engagement activities.

Expectation of fund manager

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The European Conservative Equities Fund invests in low volatility stocks with lower expected downside risk and good upside potential. The more stable stocks tend to be overlooked by investors, though they offer relatively high returns given their risk profile. We expect the fund to do particularly well during down markets and volatile market conditions. In a very bullish environment, the fund could lag the overall market, yet still deliver good absolute returns. In the long term, we expect stable equity returns and high income with considerably lower downside risk.

Pim van Vliet, Arlette van Ditshuizen, Maarten Polfliet, Jan Sytze Mosselaar, Arnoud Klep
Pim van Vliet, Arlette van Ditshuizen, Maarten Polfliet, Jan Sytze Mosselaar, Arnoud Klep

Pim van Vliet, Arlette van Ditshuizen, Maarten Polfliet, Jan Sytze Mosselaar, Arnoud Klep

Mr. Van Vliet is the head of the Conservative Equities team. Pim joined Robeco in 2005 as a Quantitative Researcher. He has published academic research in the Journal of Banking and Finance, Management Science, the Journal of Portfolio Management and other journals. He is a guest lecturer at several universities, advocates low-volatility investing at international seminars and is author of the book High Returns from Low Risk. Pim holds a PhD and an MSc (cum laude) in Financial and Business Economics from Erasmus University Rotterdam. Ms. Van Ditshuizen is a Portfolio Manager within the Conservative Equities team. Previously, Arlette was Risk Manager with Robeco and held a position as Portfolio Manager and Head of Derivatives Structures with Robeco. She started her career in 1997 at Robeco after graduating from Erasmus University Rotterdam with a Master's degree in Econometrics. Mr. Polfliet is a Portfolio Manager within the Conservative Equities team. Maarten joined Robeco in 2005. Previously, he was Client Portfolio Manager Quantitative Equities with Robeco. He started his career as portfolio manager at SNS Bank in 1999 after graduating from Tilburg University with a Master’s degree in Financial Economics. Mr. Mosselaar is a Portfolio Manager within the Conservative Equities team. Previously, Jan-Sytze was Portfolio Manager in the Robeco Asset Allocation department, managing multi-asset allocation funds, quant allocation funds and fiduciary pension mandates. He started his career at Robeco in 2004 after graduating from the University of Groningen with a Master’s degree in Business Economics. Mr. Klep is a Portfolio Manager within the Conservative Equities team. Previously, Arnoud was Head of Structured Investments with Robeco, managing various quantitative investment strategies. He started his career in the Robeco Quantitative Research department in 2001 after graduating from Tilburg University with a Master’s degree in Econometrics.

Details

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Management company
Fund capital
Size of share class
Outstanding shares
ISINLU1321401629
BloombergROECCGB LX
Valoren30405909
WKN
Availability
1st quotation date1447891200000
Close financial year31-12
Legal status
Tracking error limit (%)
Morningstar
Reference index

Cost of this fund

Ongoing charges

This fund deducts ongoing charges of
These charges comprise
Management fee
Service fee

Transaction costs

The expected transaction costs are

Performance fee

This fund may also deduct a performance fee of

Extra fees

max entry fee
Max exit fee
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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.

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Disclaimer

Please read this important information before proceeding further. It contains legal and regulatory notices relevant to the information contained on this website.

The information contained in the Website is NOT FOR RETAIL CLIENTS - The information contained in the Website is solely intended for professional investors, defined as investors which (1) qualify as professional clients within the meaning of the Markets in Financial Instruments Directive (MiFID), (2) have requested to be treated as professional clients within the meaning of the MiFID or (3) are authorized to receive such information under any other applicable laws. The value of the investments may fluctuate. Past performance is no guarantee of future results. Investors may not get back the amount originally invested. Neither Robeco Institutional Asset Management B.V. nor any of its affiliates guarantees the performance or the future returns of any investments. If the currency in which the past performance is displayed differs from the currency of the country in which you reside, then you should be aware that due to exchange rate fluctuations the performance shown may increase or decrease if converted into your local currency.

In the UK, Robeco Institutional Asset Management B.V. (“ROBECO”) only markets its funds to institutional clients and professional investors. Private investors seeking information about ROBECO should visit our corporate website www.robeco.com or contact their financial adviser. ROBECO will not be liable for any damages or losses suffered by private investors accessing these areas.

In the UK, ROBECO Funds has marketing approval for the funds listed on this website, all of which are UCITS funds. ROBECO is authorized by the AFM and subject to limited regulation by the Financial Conduct Authority. Details about the extent of our regulation by the Financial Conduct Authority are available from us on request.

Many of the protections provided by the United Kingdom regulatory framework may not apply to investments in ROBECO Funds, including access to the Financial Services Compensation Scheme and the Financial Ombudsman Service. No representation, warranty or undertaking is given as to the accuracy or completeness of the information on this website.

If you are not an institutional client or professional investor you should therefore not proceed. By proceeding please note that we will be treating you as a professional client for regulatory purposes and you agree to be bound by our terms and conditions.

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