RobecoSAM Sustainable Water Equities I USD
- Forward-looking concept — While water resources are limited, demand for water is increasing fast. Population growth, urbanization and water-intensive dietary changes add to rising industrial water demand. Implementing solutions to these challenges is critical to survival and a pre-requisite for further economic growth. This is one of the major growth opportunities of our times.
- Focus areas — Invests in structural winners along the water value chain. The most interesting and fastest-growing focus areas are wastewater treatment, water analytics and infrastructure.
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
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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 10.42%. Most companies in the RobecoSAM Sustainable Water Equities Fund, except the former Covid-19 winners, performed strongly in November. Hence, the price of the fund increased significantly. Strong returns were found in the construction & materials and capital goods & chemicals clusters. The holdings in Quality & Analytics moved sideways somewhat as a group, while utilities was slightly positive. On a stock level, holdings such as Norma Group, Arcadis, Aalberts Industries, SPX Flow and Sulzer performed best. Underperformers in November were companies such as Danaher, Thermo Fisher Scientific, Asahi Holdings and Halma after investors took profit in these names and moved the money into more cyclical industries. However, year-to-date, the above underperformers showed strong positive contributions, despite recent moves.
Statistics
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Market development
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundInvestmentExplanations.date,'llll') ]}}The global equity markets performed well in November, as did water investments. In general, many cyclical companies negatively impacted by Covid-19 earlier this year rebounded significantly in November, while the Covid-19 winners moved sideways somewhat. This market behavior seemed to be triggered by successful updates from vaccine trials, which seemed to work even better than expected. Although it will take some time to vaccinate the majority of the global population, the trial results show some light at the end of the tunnel, and investors have become more constructive on cyclical exposures.
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 Water Equities strategy invests globally in companies offering products and services that address the challenges related to the quantity, quality and allocation of water. 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
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}Long-term drivers such as population growth, the growing global middle class, urbanization, water pollution, aging infrastructure and climate change are intact, and these trends are expected to generate growth opportunities in the water value chain. The fund is still overweight in suppliers of analytical equipment and suppliers of water treatment solutions, due to their good growth opportunities. Suppliers of water-related engineering services and construction are also overweight. We have recently taken some profits in building materials. As a result, the weight of this sub-cluster moved from slightly overweight to neutral. We still underweight US water utilities, Brazilian water utilities and US waste management. French utilities are overweight due to their cost-saving programs, some planned asset disposals and merger & acquisition activities. Overall, there were no significant changes in the outlook and positioning of the fund.
Dieter Küffer, CFA
Dieter Küffer is Head of Thematic Investing Water/Healthy Living / Circular Economy and Senior Portfolio Manager responsible for managing the RobecoSAM Sustainable Water Equities strategy. Prior to joining Robeco, he led a team responsible for the management of actively managed equity mandates on behalf of Swiss institutional clients at UBS Asset Management in Zurich. He began his career as an investment counsel in the Private Banking Division of UBS. Dieter Küffer holds a federal diploma as Swiss-Certified Banking Expert and is a CFA Charterholder. He joined Robeco in 2001.
Details
{{'fund.detail.general.perDate' | labelize:[ fundDate(fund.fundFacts.date,'llll') ]}}| Management company | |
| Fund capital | |
| Size of share class | |
| Outstanding shares | |
| ISIN | LU2146192534 |
| Bloomberg | ROSWEIU LX |
| Valoren | 55736518 |
| WKN | A2QD3L |
| 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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Performance fee |
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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.
