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RobecoSAM Circular Economy Equities F EUR

Index: MSCI World Index TRN
ISIN: LU2092758999
  • Invests in leading companies that address the opportunities created by the paradigm shift in traditional production and consumption patterns toward a circular economy.
  • Focus on innovative solutions in the area of redesign inputs, circular use, enabling technologies and loop resources.
  • Diversified strategy enhanced by proprietary ESG risk considerations, appealing to investors with a horizon of three to five years.
Asset class
Current price ()
Performance YTD ()
Currency EUR
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Dividend payingNo

About this fund

RobecoSAM Circular Economy Equities is an actively managed fund. The fund aims to outperform the benchmark over the long run. The fund invests in stocks in developed and emerging countries across the world. The selection of these stocks is based on fundamental analysis. The fund invests in companies that foster resource-efficient business models with regard to the production and consumption of consumer goods. The investment team identifies companies that are offering superior solutions regarding the development and redesign of production inputs that can be reused or recycled, that manage circular logistics and waste management systems or promote a social and eco-friendly nutrition and lifestyle. By combining RobecoSAM thematic research expertise with sustainability analysis, ESG criteria are fully integrated into the investment process.

Price development

No performance data available

Price development

RobecoSAM Circular Economy Equities F EUR

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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Stock markets continued their upward trend and with that posted an attractive return for the full year, which is remarkable given the stark pessimism that prevailed in March. The Circular Economy strategy outperformed the broader market in December as well, which translates into a comfortable double-digit outperformance since its launch in January. The EU agreement on a green recovery and the forthcoming US policy change in favor of climate change awareness accelerated a significant shift in investors' allocations towards related sectors. The corresponding consumer shift has already been visible for quite some time in the areas of sustainable apparel, nutrition, the sharing economy and consumer packaging. With the accelerating market share gains for renewable energy and electric vehicles witnessed this year, the importance of circular solutions for the energy storage solutions required rises as well. Given the possible lithium supply shortages as soon as in 2025, breaking out of linear use models is required urgently. The European Battery Alliance is targeting better recycling and reuse models, which could unlock an estimated EUR 250 bln growth market by 2025 – relevant for forward-looking investors.

Fund allocation

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Name Sector Weight
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Fund Classification

YesNoN/A 
Voting
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ESG integration
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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 dividend; any income earned is retained, and so the fund's entire performance is reflected in its share price.

ESG Integration policy

The RobecoSAM Circular Economy Equities strategy invests in global companies providing circular solutions that create value in loops via reuse, redesign, repair, responsible consumption. It employs systematic, bottom-up stock selection that combines proprietary Environmental, Social & Governance (ESG) data and research throughout the investment process. ESG criteria for exclusions and theme-specific suitability are applied during universe construction. An in-house Sustainability Investing (SI) research team integrates financially-material sector and company-specific sustainability analysis into investment cases. A dedicated thematic equity team incorporate SI research within fundamental analysis and stock valuations. Impact assessments of controversial incidences affecting portfolio holdings provide additional risk management. An active ownership and engagement team interacts directly with company management of fund holdings, offering additional channels for sustainable impact.

Investment policy

Our investment philosophy is grounded in the core belief that the integration of ESG factors into a disciplined, research-driven investment process leads to better-informed investment decisions and better risk-adjusted returns through an economic cycle. Building on our proprietary data and research, we identify companies that generate a competitive advantage through sound business practices, efficiency improvements, and the creation of new solutions for the myriad challenges facing society over the coming decades. Taking a long-term investment perspective, we analyze companies’ business models, market positioning and growth potential, and evaluate their financial performance and valuation. Based on this fundamental assessment, we seek to uncover attractive investment opportunities and implement them in concentrated, conviction-based equity portfolios.

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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The start of Covid-19 vaccination programs and the effects of cumulative USD 22 tln of policy stimulus announced since the beginning of the pandemic, continue to support stock markets. We expect the positive momentum to persist for the time being, supported by low interest rates and strong savings deposits in major economies. Although strict lockdown measures, high hospitalization rates and the new Covid-19 variant discovered in the UK paint a bleak near-term picture, we maintain our constructive stance on equity markets. We are excited about the inherent opportunities created by the transition towards the circular economy, which in our view is creating an additional layer of growth opportunities. Companies exposed to this, are set to benefit from sometimes drastically changing consumer preferences for sustainable consumer packaging, better logistics and waste management systems or the full digitization of legacy business models through digital collaboration platforms. The secular growth opportunities stemming from the transition have in our view not only withstood the current pandemic crisis, but are well positioned to have a head start in the imminent economic recovery.

David Kägi, PhD
David Kägi, PhD

David Kägi, PhD

David Kägi is a Portfolio Manager responsible for managing the RobecoSAM Sustainable Healthy Living Equities strategy. Previously, he worked as a Buy-Side analyst covering the global healthcare sector for Bank J. Safra Sarasin in Zurich, first for Private Banking, then for Asset Management. In the last five years, he also managed the Demography Health basket certificate for Bank J. Safra Sarasin. After some years in biomedical research, he started his career in finance as a Healthcare Analyst at the investment company BT&T, followed by a position as an Investment Analyst for private biotechnology companies with Schweizerhall Management AG in Zurich. David holds a Master’s degree in Biochemistry and a PhD in T-cell Immunology both from the ETH Zürich. He joined Robeco in 2019.

Details

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Management company
Fund capital
Size of share class
Outstanding shares
ISINLU2092758999
BloombergROCEEFE LX
Valoren52333289
WKNA2P0DQ
Availability
1st quotation date1579737600000
Close financial year31-12
Legal status
Tracking error limit (%)
Reference index

Cost of this fund

Ongoing charges

This fund deducts ongoing charges of
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The expected transaction costs are

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This fund may also deduct a performance fee of

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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.

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