RobecoSAM Sustainable Healthy Living Equities F EUR
- Healthy living companies are helping to shape a new consumer
- Interesting investment return history in a comparatively defensive fund
Effective October 29th 2020, selected RobecoSAM equity funds were merged onto the RCGF SICAV platform and received new inception dates, share classes, and ISIN codes.
More information
About this fund
Price development
Performance
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundPerformances.date,'llll') ]}}| Fund | Reference index | |
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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 4.95%. Sustainable Healthy Living Equities advanced solidly in November, as many stocks that had suffered from pandemic restrictions bounced back from their lows, with the increased probability that a number of vaccines will be available in due time. However, due to its defensiveness, the fund could not quite keep up with the performance of the broader market. All four clusters closed the month with a positive performance. The Activity cluster performed best, with VF Corp and Nike benefiting from the expected normalization of foot traffic in their brick and mortar stores. All three holdings in the Hygiene cluster performed well. Healthy Nutrition advanced as stocks such as Leroy Seafood, Danone, SGS and Bakkafrost rebounded significantly from their lows. Lifescience Disease Solutions was driven by positive performance of CVS, Smith Group, Agilent and Medtronic. CVS benefited from the important role the company will play in the delivery of coronavirus vaccines, which will start this month.
Statistics
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Market development
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}In November 2020, global equity markets reacted very positively to two main events during the month; on the one hand, three producers of SARS-CoV-2 vaccines reported positive data of their Phase 3 trials, which rightly support the expectation that the pandemic will be largely brought under control in the course of the next year and that public life and economic activity will normalize. On the other hand, the outcome of the US elections also created a Goldilocks political outlook in the US for the next four years, in which Joe Biden as president will stand for more predictability and rationality, and a divided Senate at the same time makes more extreme activism as proposed by the left wing of the Democratic party unlikely. However, the latter is still not completely granted, as the results of Georgia's Senate elections are still outstanding. The result of these two events was a quite pronounced rotation away from perceived pandemic winners into stocks that had underperformed this year. In our universe, discretionary and medtech stocks outperformed, while analytical equipment, pharma, food ingredients, packaged food and stockpiling names were left behind.
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 | ||||
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| ESG integration | ||||
| Exclusion |
| Yes | No | N/A | ||
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| Sustainability Themed Fund |
Currency policy
The fund is allowed to pursue an active currency policy to generate extra returns and can engage in currency hedging transactions.
Dividend policy
In principle the fund does not intend to distribute dividend and so both the income earned by the fund and its overall performance are reflected in its share price.
ESG Integration policy
The RobecoSAM Sustainable Healthy Living Equities strategy invests in companies that benefit from secular sociodemographic and technological trends that address the dual sustainability challenges of increasing chronic disease and health care costs. 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.
Risk policy
Risk management is fully integrated into the investment process to ensure that positions always meet predefined guidelines.
Expectation of fund manager
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}The prospect of a Covid-19 vaccine starting to get approved in December is propelling the markets. We expect the positive momentum to continue for the time being, also because monetary support remains high. Meanwhile, we would still caution that the economic consequences of the pandemic are severe, with a more sustained economic recovery likely 1-2 quarters out. We remain constructive on the mid-term to long-term potential of the equity markets, and make use of the current market conditions to further solidify our positions in companies that have very strong long-term business perspectives.We expect that the pandemic will also offer opportunities to implement changes towards building more robust and sustainable economies. This will also strengthen the desire of individuals to adopt a healthier lifestyle. Therefore, the Healthy Living portfolio of sustainable companies should be well positioned to benefit from these changes in the longer run.
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
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}| Management company | |
| Fund capital | |
| Size of share class | |
| Outstanding shares | |
| ISIN | LU2146189746 |
| Bloomberg | RSSHLFE LX |
| Valoren | 55753625 |
| WKN | A2QD3F |
| Availability | |
| 1st quotation date | 1603929600000 |
| Close financial year | 31-12 |
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Cost of this fund
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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 0.05% 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.
