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Robeco Sustainable Asian Stars Equities DL USD

ISIN: LU2133221171
  • Concentrated portfolio
  • Targets the most attractive Asian markets
  • Improved environmental footprint, generates a positive ESG impact.
Asset class
Current price ()
Performance YTD ()
Currency USD
Total size of fund ()
Dividend payingNo

About this fund

Robeco Sustainable Asian Stars Equities is an actively managed fund that invests in stocks of the most attractive companies in Asia. The selection of these stocks is based on fundamental analysis. The fund's focus is on the high-growth developing countries in the region. The fund selects investments based on a combination of top-down country analysis and bottom-up stock ideas. The focus is on companies with a sound business model, solid growth prospects and reasonable valuation. The fund has a concentrated portfolio. Voting, Engagement, ESG Integration and Robeco's exclusion policy are part of the investment policy.

Price development

No performance data available

Price development

Robeco Sustainable Asian Stars Equities DL USD

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)
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.

Statistics

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Market development

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Asian markets rebounded further in June (+7.9%), outperforming global markets (+3%). China led the region (China +8.4%, Hong Kong +10.3%, Taiwan +8.6%). The country successfully overcame a second wave of Covid-19 infections and its economy further normalized. With the malls opening up, retail sales in China further recovered and were down just 2.8% yoy in May while industrial production was already back up 4.4%. The technology sector benefited from positive comments from companies in the supply chain. Korea (+7.8%) performed well as a result. ASEAN markets also rose but lagged the north Asian countries this month. Indian (+6.7%) markets went up despite border skirmishes with neighboring China. Hong Kong saw the promulgation of the National Security Law by Beijing allowing authorities to bring Hong Kong people to justice for subversion. The scope of subversive acts appears to be wider than anticipated, reinforcing fears that ‘One Country, Two Systems’ is dead. Hong Kong as a financial center rejoiced in the IPO and secondary listing of two Nasdaq-listed companies NetEase and JD.com. The US has actively pushed these ADRs away and Hong Kong is happy to see them ‘come home’.

Fund allocation

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Name Sector Weight
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Fund Classification

YesNoN/A 
Voting
Engagement
ESG integration
Exclusion
YesNoN/A 
Screening
Integration
Sustainability Themed Fund

Currency policy

The fund is allowed to pursue an active currency policy to generate extra returns.

Dividend policy

The fund does not distribute dividends

ESG Integration policy

Robeco Sustainable Asian Stars Equities integrates ESG at different stages of the investment process. We use sustainability performance rankings to focus our fundamental analysis on companies that have demonstrated superior sustainability performance compared to their peers. We then analyze the impact of financially material ESG factors to a company’s competitive position and value drivers. We believe that this enhances our ability to understand existing and potential risks and opportunities of a company. If ESG risks and opportunities are significant, the ESG analysis could impact a stock’s fair value and the portfolio allocation decision. Throughout the investment process, we strive for a low environmental impact, as measured by GHG emissions, energy consumption, water use and waste generation, with the aim of realizing 20% better levels than the index. In addition to ESG integration, Robeco conducts proxy voting and engagement activities focused on specific themes, such as climate change, aiming to improve a company’s sustainability profile. Furthermore, the fund will not invest in companies exposed to the following controversial sectors or business practices: military contracting, controversial weapons, fire arms, UN Global Compact breaches, tobacco, palm oil and thermal coal, according to strict revenue thresholds.

Investment policy

Robeco Sustainable Asian Stars: Invest in Asia's best. The focus is on the most attractive investments in an exciting growth region. The fund leverages on Robeco's local resources in China and India. The fund will have a high-conviction, high-alpha portfolio with around 30-60 stocks. The fund aims for a significantly better ESG score than the index and reduced footprints for water use, greenhouse gas emissions, waste and energy. This Sub-fund may invest in China A-shares via the QFII and/or a Stock Connect Programme which may entail additional clearing and settlement, regulatory, operational and counterparty risks.

Risk policy

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

Expectation of fund manager

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We are bullish on Asian markets but realize it is a tug of war between abundant liquidity and weak earnings. Asia has generally handled the health scare well, and corporates have healthy balance sheets to deal with the economic disruption and continue to pay dividends. Earnings estimates have been cut aggressively and may have bottomed. A recovery in earnings can be expected in 2021. We do believe that lower rates and increased fiscal spending will support regional economies and also value stocks. Meanwhile, there are juicy yields to be had in Asian equity. Valuations remain low and are over 30% cheaper than global markets. The Chinese government will increase investments in both old and new infrastructure (semiconductors, healthcare and other technologies). We still see many pockets of attractive investment opportunities there. We still see many pockets of attractive investment opportunities there. We focus on bottom-up stock picking and on companies with a good sustainability profile, solid cash flow generation, trading at a good price and having a positive momentum.

Vicki Chi, Arnout van Rijn
Vicki Chi, Arnout van Rijn

Vicki Chi, Arnout van Rijn

Vicki Chi is Portfolio Manager in the Asia Pacific team with a focus on Taiwan and China. Prior to joining this team in 2014, she was an Analyst in the Robeco Emerging Markets team where she covered Chinese stocks in the telecom and banking sector. Vicki started her career in 2006 at Robeco. She is a native speaker of Mandarin Chinese and holds a Master’s in Business Administration from Erasmus University Rotterdam. She also is a CFA® charterholder. Mr. van Rijn is CIO Asia-Pacific, Co-Head of the Asia-Pacific team and Lead Portfolio Manager of Robeco Asia-Pacific Equities. From 2003 to 2007 he was the Lead Portfolio Manager of Rolinco, one of Robeco's flagship equity products. Before that Arnout held several positions within the Robeco Equity department covering European, Asian and American markets. From its inception in 1994 until 2000, he was Portfolio Manager of Robeco's Emerging Markets Equities fund. From 2000 to 2002, Arnout worked in Hong Kong as head of the Fund Desk at Rabo Investment Management. He started his career in the investment industry in 1990. Arnout van Rijn holds a Master's degree in Business Economics from Erasmus University Rotterdam.

Details

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Management company
Fund capital
Size of share class
Outstanding shares
ISINLU2133221171
BloombergROASEDU LX
Valoren53610007
WKNA2P63L
Availability
1st quotation date1585526400000
Close financial year31-12
Legal status
Tracking error limit (%)
Reference index

Cost of this fund

Ongoing charges

This fund deducts ongoing charges of
These charges comprise
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Transaction costs

The expected transaction costs are

Performance fee

This fund may also deduct a performance fee of

Extra fees

max entry 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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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.

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