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Rolinco

Reference index: MSCI All Country World Index (Net Return, EUR)
ISIN: NL0000289817
  • Invests in the structural trends worldwide (e.g. "the digital world" and the Industrial Renaissance)
  • Top-down theme selection and bottom-up stock selection using proprietary valuation models
  • Risk limitation through global diversification
Asset class
Current price ()
Performance YTD ()
Currency EUR
Total size of fund ()
Dividend payingYes

About this fund

Rolinco is an actively managed fund that invests in equities from developed and emerging countries around the world. The selection of these stocks is based on a fundamental analysis. The fund's objective is to provide long term capital growth.The fund focuses on growth by investing primarily in promising trends. The Fund invests in a minimum of three and a maximum of four different growth trends. Therefore, the fund invests directly in shares of companies that have the purest possible exposure to any of these trends.

Price development

No performance data available

Price development

Rolinco

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.

Performance explanation

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Based on transaction prices, the fund's return was 7.08%. Three trends did better than the overall index, with only Digital World lagging substantially. The best-performing trend was Healthy Aging; all but one of our holdings (HOYA) were up for the month. Connected Enterprise was a good second, with Microsoft and Teradyne being part of this trend. Emerging Middleclass finally found some stronger footing with the help of China. Year-to-date, the fund is up, with three trends delivering a positive absolute return: Healthy Aging, Connected Enterprise and Digital World. Emerging Middleclass, with its strong exposure towards China, is the only trend to show a negative return, despite the small recovery last month. The top-three stocks in October were Microsoft, Teradyne and KKR. The bottom-three stocks were PayPal, Chegg and HOYA.

Statistics

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Dividend paying history

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Market development

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What a month! In October, global equities rebounded sharply from the September blues, with the MSCI All Country World Index up 5.3%, setting several new all-time highs during the month. It was the best monthly performance so far this year. Japan was the exception to the rule, down on the election of a new PM. Going into the quarter, the focus for investors was around the severity of cost inflation, supply chain issues and labor shortages, and how it would affect bottom lines for companies. The battle of 'transitory' versus 'not-transitory' also continued to rage on, with investors slowly leaning more hawkish, it felt. But companies in general commented that demand is strong across the board and so are orders. Although many are indeed facing issues to fulfill this demand due to the problems listed above, with Amazon being a case in point. Pricing power is quite good though and companies can pass on the price increases, which means that the outlooks are generally better than expected.

Fund allocation

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Name Sector Weight
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Currency policy

The fund can engage in currency hedging transactions.

Dividend policy

The fund distributes a dividend on an annual basis.

ESG Integration policy

Rolinco integrates ESG factors into its investment process by analyzing 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 (long-term) risks and opportunities of a company. The impact of material ESG factors can be positive or negative, reflecting risks or opportunities, that ensue from a company’s ESG analysis. If ESG risks and opportunities are significant, the ESG analysis could impact a stock’s fair value and the portfolio allocation decision. In addition to ESG integration, Robeco also has an exclusion policy and conducts proxy voting and engagement activities focused on specific themes, such as climate change, aiming to improve a company’s sustainability profile.

Investment policy

Rolinco is an actively managed fund that invests in equities from developed and emerging countries around the world. The selection of these stocks is based on a fundamental analysis. The fund's objective is to provide long term capital growth.The fund focuses on growth by investing primarily in promising trends. The Fund invests in a minimum of three and a maximum of four different growth trends. Therefore, the fund invests directly in shares of companies that have the purest possible exposure to any of these trends.

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 integration policy

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Rolinco integrates ESG factors into its investment process by analyzing 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 (long-term) risks and opportunities of a company. The impact of material ESG factors can be positive or negative, reflecting risks or opportunities, that ensue from a company’s ESG analysis. If ESG risks and opportunities are significant, the ESG analysis could impact a stock’s fair value and the portfolio allocation decision. In addition to ESG integration, Robeco also has an exclusion policy and conducts proxy voting and engagement activities focused on specific themes, such as climate change, aiming to improve a company’s sustainability profile.

Expectation of fund manager

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Since the start of the year, investors have been focusing on improving economic fundamentals by switching to cyclicals and so-called reopening trades. Corporates are currently seeing the best margins, with continued demand as the world reopens, and the macro picture continues to improve and broaden. However, equity valuations have come down, as 2021 consensus earnings have once more been revised higher, and there have even been upward revisions for 2022. Markets do discount that we are setting ourselves up for a good economic recovery. With our trends approach, we continue to focus on long-term secular trends that should drive sustainable and secular earnings growth for the companies that are exposed to them. We consider the four trends we have selected as relevant or even strengthened under current circumstances. We remain in an era in which we will be able to cure most diseases at lower costs, make financial services cheaper and more accessible to all and on top of that increase our labor productivity sustainably. Stocks that provide the tools and technology for this will grow revenues and cash flows faster and for longer than the market expects.

Marco van Lent, Steef Bergakker
Marco van Lent, Steef Bergakker

Marco van Lent, Steef Bergakker

Marco van Lent is a member of the Robeco Trends Investing Equity team since December 2010 and since November 2013 portfolio manager of Robeco MegaTrends/Rolinco and since June 2017 portfolio manager of Robeco Digital Innovations. Before that he was portfolio manager of Robeco Infrastructure Equities. He joined Robeco in October 2007 to co-manage two European equity funds. He started his investment career in 1985 as a sell-side analyst/strategist. In 1996, he became a portfolio manager at Van Spaendonck Asset Management. This was followed by a position as senior portfolio manager European equities at Philips Investment Management in 1999. Using the high-conviction investment strategy which he had co-developed at Philips Investment Management, he moved on to Van Lanschot Asset Management to manage the Van Lanschot European Equity Fund. After the acquisition of Kempen Capital Management by Van Lanschot, he worked at Kempen Capital Management for 6 months to manage European equity mandates. Marco holds a Master’s degree in Business Economics and Finance from Tilburg University. Steef Bergakker is a member of the Robeco Trends Investing team and portfolio manager of Robeco Hollands Bezit. Before he was the portfolio manager of Robeco Infrastructure Equities. Prior to rejoining Robeco in 2008, Steef held different functions at IRIS (Institute for Research and Investment Services), the former research joint venture of Robeco and Rabobank. From 1998 through 2008 he served as head of IRIS Equity Research, and before that he worked as equity analyst for 8 years. Steef started his career in the investment industry at Robeco in 1990, as a junior analyst. He holds a Master¿s degree in Monetary Economics and Finance and Investments from Erasmus University, Rotterdam.

Details

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Management company
Fund capital
Size of share class
Outstanding shares
ISINNL0000289817
BloombergROLA NA
Valoren1237663
WKN970254
Availability
1st quotation date-129945600000
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
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Transaction costs

The expected transaction costs are

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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 the Netherlands. The fund is managed as a 'naamloze vennootschap' (public limited company). The fund has the status of 'fiscal investment institution' in the sense of article 28 of the Dutch Corporate-Income Tax Act 1969, and, as such, is taxed at a corporate-income tax rate of 0%.The fund is obliged to pay out the realized current income in the form of dividend within 8 months after the end of the financial year. From 1 January 2007 the fund withholds Dutch dividend tax at a rate of 15% from these dividend payments. The fund can in principle use the Dutch treaty network to partially recover any withholding tax on its income.

Fiscal treatment of investor

For private investors residing in the Netherlands real interest and dividend income or capital gains received on their investments are not relevant for tax purposes. Participating units held by private investors who are taxpayers in the Netherlands belong in Box 3. If and insofar as an investor's net assets exceed the net wealth exemption limit, said investor is liable from 1 January to pay 1.2% annually on the balance of his or her net assets. Investors residing in the Netherlands may offset the Dutch dividend tax withheld (15% as at 1 January 2007) against their income-tax payment. Investors who are not subject to (exempt from) Dutch corporate-income tax (e.g. pension funds) are not taxed on the achieved result. Dutch tax-exempt bodies may seek a full refund on the 15% dividend tax withheld on dividends (25% prior to 1 January 2007). Interest income is exempt from tax withheld at source. 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 in their tax return. In principle, Dutch bodies that are subject to corporate-income tax may offset the 15% dividend tax withheld on dividends (25% prior to 1 January 2007) against the corporate-income tax and seek a refund of the excess amount. Investors residing outside the Netherlands are subject to their respective national tax regime applying to foreign investment funds. Shareholders who do not pay tax in the Netherlands and who are resident in countries that have a tax treaty with the Netherlands to prevent double taxation, may seek a refund for part of the Dutch dividend tax from the Dutch tax authorities, depending on the treaty. As of 1 January 2007, a pension fund having its registered office in another EU member state is also entitled to a dividend-tax refund in the Netherlands. The above is based on the current fiscal legislation and regulation.

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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.

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