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Robeco Net Zero 2050 Climate Equities S USD
High conviction fund seeking companies that enable the low carbon transition
Share classes
Share classes
Every share class of a product invests in the same portfolio of securities and has the same investment objectives and policies. However, their parameters might deviate. For instance and amongst others, their distribution type, currency exposure or fees and expenses might differ. The most common share classes at Robeco are:
a) D/DH shares, which are regular shares and available for all Investors;
b) I/IH shares, for institutional investors as defined from time to time by the Luxembourg supervisory authority.
For more information on share classes please go to the prospectus.
S-USD
D-EUR
D-USD
DCo-EUR
F-EUR
F-USD
FCo-EUR
I-EUR
I-USD
ICo-EUR
S-EUR
Z-EUR
Z-GBP
Class and codes
Asset class:
Equities
ISIN:
LU2496630000
Bloomberg:
RBS50SU LX
Index
MSCI World Climate Change Index (Net Return, USD)
Sustainability-related information
Sustainability-related information
Under the EU Sustainable Finance Disclosure Regulation, products can be labelled as either Article 6, 8 or 9 fund.
Article 6 - The fund is not in scope of enhanced sustainability disclosures compared to Article 8 and 9.
Article 8 - The fund does not have a sustainable investment objective but promotes environmental or social characteristics and is subject to enhanced sustainability disclosures.
Article 9 - The fund has a sustainable investment objective and is subject to enhanced sustainability disclosures.
Regardless of Article 8 or 9, the companies in which investments are made must follow good governance practices, and sustainable investments must not do any significant harm.
Article 9
- Overview
- Performance & costs
- Portfolio
- Sustainability
- Commentary
- Documents
MISSING: fund.detail.tabs.
Key points
- Investing in companies enabling the transition to Net Zero
- High Conviction strategy using a fundamental, bottom-up research-based investment process
- Aiming for both real world impact while at the same time enabling and a fair transition and minimizing negative social impacts
About this fund
Robeco Net Zero 2050 Climate Equities is an actively managed fund that invests in stocks in developed countries across the world with a goal of decarbonization towards Net Zero. The selection of these stocks is based on fundamental analysis. The fund has sustainable investment as its objective, within the meaning of Article 9 of the Regulation (EU) 2019/2088 of 27 November 2019 on Sustainability-related disclosures in the financial sector. The fund aims to reduce the carbon footprint of the portfolio and thereby contribute towards the goals of the Paris agreement to keep the maximum global temperature rise well-below 2◦C. The fund also aims to achieve a better return than the index.
Key facts
Total size of fund
$ 149,339,086
Size of share class
$ 37,005
Inception date share class
15-07-2022
1-year performance
17.78%
Dividend paying
No
Fund manager
![Chris Berkouwer](https://images.ctfassets.net/tl4x668xzide/7DBsQM992SolwvNOu11dtm/46385b7b23aa496f10f07058e3e60c97/chris-berkouwer-500px.jpg?fit=fill&w=162&h=162&f=center&fm=webp)
Chris Berkouwer
![Yanxin Liu](https://images.ctfassets.net/tl4x668xzide/3gjNln12xOwXLGgkRiCh5w/9145549c480b8ae0c0335956ac5d35bd/yanxin-liu-500px.jpg?fit=fill&w=162&h=162&f=center&fm=webp)
Yanxin Liu
Chris Berkouwer is Portfolio Manager and member of the Global Equity team. He is also Deputy Lead Portfolio Manager. He is responsible for fundamental global equities with a focus on the low-carbon transition and on companies in the energy, materials and industrials sectors, as well as portfolio construction. He joined Robeco in 2010. Prior to that, he worked as an analyst for the The Hague Centre for Strategic Studies. He conducted country, industry and company research for various equity teams prior to joining the Global Equity team. He a holds Master's in Business Administration and International Public Management from the Erasmus University Rotterdam and is a CFA® Charterholder. Yanxin Liu is Portfolio Manager and member of the Global Equity team. She is responsible for fundamental global equities with a focus on information technology as well as portfolio construction. Yanxin spent 11 years with our Emerging Markets Equity team, prior to joining the Global Equity team in 2022. Within the Emerging Markets team her focus was on all sectors in Greater China. Prior to that, Yanxin worked for DSM Pension Services in the Netherlands as an analyst focusing on US large-cap equities. Yanxin has a Master’s in Finance from the Erasmus University Rotterdam and a Bachelor’s in Financial Accounting from Nankai University in Tianjin, China. She became a CFA® Charterholder in 2015 and is a native Mandarin speaker.
Performance
Per period
Per annum
- Per period
- Per annum
1 month
3.44%
1.91%
3 months
10.36%
11.00%
YTD
16.95%
16.78%
1 year
17.78%
22.01%
2 years
14.80%
18.58%
Since inception 07/2022
21.13%
22.33%
2023
22.76%
31.25%
Costs
Ongoing charges
Indication of annual charges that are deducted for this fund. This indication is based on the costs over the last calendar year and may vary from year to year. Transaction costs incurred by the fund, any performance fees and other one-off costs are not included in the ongoing charges.
1.01%
Included management fee
A fee paid by the fund to the asset management company for the professional management of the fund.
0.80%
Included service fee
This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.
0.16%
Transaction costs
The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.
0.07%
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.
Fund allocation
Asset
Country
Sector
Top 10
- Asset
- Country
- Sector
- Top 10
Policies
The fund is allowed to pursue an active currency policy to generate extra returns.
The fund does not distribute dividend. The fund retains any income that is earned and so its entire performance is reflected in its share price.
Robeco Net Zero 2050 Climate Equities is an actively managed fund that invests in stocks in developed countries across the world with a goal of decarbonization towards Net Zero. The selection of these stocks is based on fundamental analysis. The fund has sustainable investment as its objective, within the meaning of Article 9 of the Regulation (EU) 2019/2088 of 27 November 2019 on Sustainability-related disclosures in the financial sector. The fund aims to reduce the carbon footprint of the portfolio and thereby contribute towards the goals of the Paris agreement to keep the maximum global temperature rise well-below 2◦C. The fund also aims to achieve a better return than the index. The fund has sustainable investment as its objective within the meaning of Article 9 of the European Sustainable Finance Disclosure Regulation. The fund aims to reduce the carbon footprint of the portfolio and thereby contribute towards the goals of the Paris agreement to keep the maximum global temperature rise well-below 2◦C. The fund integrates ESG (Environmental, Social and Governance) factors in the investment process and applies Robeco’s Good Governance policy. The fund also actively invests in companies that have set Net Zero goals by 2050. The fund applies sustainability indicators, including but not limited to, normative, and activity-based exclusions in line with Article 12 of the EU regulation on Climate Transition Benchmarks, and proxy voting. The Sub-fund is managed against a Benchmark that is consistent with the sustainable investment objectives pursued by the Sub-fund. It aims to align with the Climate Transition requirements on greenhouse gas emission reduction. The Benchmark aims to represent the performance of an investment strategy that is aligned with the technical standards for Climate Transitions Benchmarks in areas such as exclusions and carbon reduction objectives. The Benchmark differs from a broad market index in that the latter does not take into account in its methodology any criteria for alignment with the Climate Transition on greenhouse gas emission reduction and related exclusions. The methodology used for the calculation of the index can be found on the website of the index administrator (MSCI).The Sub-fund is actively managed and uses the Benchmark for asset allocation purposes. However, although securities may be components of the Benchmark, securities outside the Benchmark may be selected too. The Sub-fund can deviate substantially from the weightings of the Benchmark. The Management Company has discretion over the composition of the portfolio subject to the investment objectives. The Sub-fund aims to outperform the Benchmark over the long run, whilst still controlling relative risk through the applications of limits (on countries, currencies and sectors) to the extent of deviation from the Benchmark. This will consequently limit the deviation of the performance relative to the Benchmark.
Risk management is fully embedded in the investment process to ensure that positions always meet predefined guidelines
Sustainability profile
ESG Important Information
The sustainability information below can help investors integrate sustainability considerations in their process. This information is for informational purposes only. The reported sustainability information may not at all be used in relation to binding elements for this fund. A decision to invest should take into account all characteristics or objectives of the fund as described in the prospectus.
Sustainability
The fund’s sustainable investment objective is to contribute to keeping global temperature rise well-below 2°C by reducing the carbon footprint of the fund. Climate change and sustainability considerations are incorporated in the investment process via exclusions, ESG integration, as well as voting. Firstly, the fund does not invest in stock issuers that are in breach of international norms or where activities have been deemed detrimental to society following Robeco's exclusion policy. This includes activity-based exclusions of Article 12 of the EU regulation on Climate Transition Benchmarks, EU Paris-aligned Benchmarks and sustainability-related disclosures for benchmarks as applicable. Secondly, the fund focuses on investing in companies that have set Net Zero goals by 2050 and examines other financially material ESG factors in the portfolio construction. Thirdly, by restricting the GHG emissions, the carbon footprint of the fund is made lower than that of the Climate transition benchmark to ensure alignment with the desired decarbonization trajectory of 7% year on year. Further, where a stock issuer is flagged for breaching international standards in the ongoing monitoring, the issuer will become subject to exclusion. Lastly, the fund makes use of shareholder rights and applies proxy voting in accordance with Robeco's proxy voting policy.The following sections display the ESG-metrics for this fund along with short descriptions. For more information please visit the sustainability-related disclosures.The index used for all sustainability visuals is based on MSCI World Climate Change Index (Net Return, USD).
Performance explanation
Based on transaction prices, the fund's return was 3.44%. Even though June was a decent month from an absolute return perspective, July was a strong month for our strategy both from an absolute return perspective and relative to the benchmark (+2.7% versus +0.9%, respectively). Sector-wise, the main contributors were consumer discretionary, staples and healthcare, while our positioning in technology lagged. In terms of stock selection, the most positive performance contribution came from building insulation company TopBuild, where management continues to flag a strong setup for the year, driven by high activity levels across its residential and commercial customer base, but also sees room for further price increase to help margins expand further. On the back of a very strong earnings report, shares of Sprouts Farmers Market jumped. Higher same stores sales growth, continued store expansion, higher margins and an overall higher conviction of Sprout's turnaround strategy was rewarded by the market. On the flip side, our main detractor proved to be Qualcomm as the AI PC narrative seems to be fizzling out and concerns are creeping in that a recovery in smartphones might be too premature.
Expectation of fund manager
![Chris Berkouwer](https://images.ctfassets.net/tl4x668xzide/7DBsQM992SolwvNOu11dtm/46385b7b23aa496f10f07058e3e60c97/chris-berkouwer-500px.jpg?fit=fill&w=162&h=162&f=center&fm=webp)
Chris Berkouwer
![Yanxin Liu](https://images.ctfassets.net/tl4x668xzide/3gjNln12xOwXLGgkRiCh5w/9145549c480b8ae0c0335956ac5d35bd/yanxin-liu-500px.jpg?fit=fill&w=162&h=162&f=center&fm=webp)
Yanxin Liu
The question of how elections will impact climate policy continues to dominate stock behavior. Interestingly, in most campaigns climate policy has played only a minor role, even in the US, despite noise around a potential IRA repeal. Even now clean tech protectionism is escalating on both sides of the Atlantic and across to the Pacific, the overall outlook for clean energy growth remains positive. The only change we expect to take place is a mix shift from a particular set of climate solutions (e.g., wind, solar) to other areas that seem to have bipartisan support (e.g., nuclear, power infrastructure). The weak performance across the climate equity universe for the most part of the year obviously implies that not a lot of positive expectations are being priced in. However, that is exactly the opportunity in case more climate-friendly leadership comes to power, hence we retain our view that against a solid fundamental backdrop, cleansed valuations provide a much better setup for climate-related stocks from here. However, we should not chase everything that colors green, but remain disciplined and stick to our core quality approach in the search for alpha.