Disclaimer
1. General
Please read this information carefully.
This website is prepared and issued by Robeco Hong Kong Limited ("Robeco"), which is a corporation licensed by the Securities and Futures Commission in Hong Kong to engage in Type 1 (dealing in securities); Type 2 (dealing in futures contracts); Type 4 (advising in securities) and Type 9 (asset management) regulated activities. The Company does not hold client assets and is subject to the licensing condition that it shall seek the SFC’s prior approval before extending services at retail level. This website has not been reviewed by the Securities and Futures Commission or any regulatory authority in Hong Kong.
2. Important risk disclosures
Important risk disclosures Robeco Capital Growth Funds (“the Funds”) are distinguished by their respective specific investment policies or any other specific features. Please read carefully for the risks of the Funds:
Some Funds are subject to investment, market, equities, liquidity, counterparty, securities lending and foreign currency risk and risk associated with investments in small and/or mid-capped companies.
Some Funds are subject to the risks of investing in emerging markets which include political, economic, legal, regulatory, market, settlement, execution, counterparty and currency risks.
Some Funds may invest in China A shares directly through the Qualified Foreign Institutional Investor (“QFII”) scheme and / or RMB Qualified Foreign Institutional Investor (“RQFII”) scheme and / or Stock Connect programmes which may entail additional clearing and settlement, regulatory, operational, counterparty and liquidity risk.
For distributing share classes, some Funds may pay out dividend distributions out of capital. Where distributions are paid out of capital, this amounts to a return or withdrawal of part of your original investment or capital gains attributable to that and may result in an immediate decrease in the net asset value of shares.
Some Funds’ investments maybe concentrated in one region / one country / one sector / around one theme and therefore the value of the Fund may be more volatile and may be subject to concentration risk.
The risk exists that the quantitative techniques used by some Funds may not work and the Funds’ value may be adversely affected.
In addition to investment, market, liquidity, counterparty, securities lending, (reverse) repurchase agreements and foreign currency risk, some Funds are subject to risk associated with fixed income investments like credit risk, interest rate risk, convertible bonds risk, ABS risk and the risk of investments in non-investment grade or unrated securities and the risk of investments made in non-investment grade sovereign securities.
Some Funds can use derivatives extensively. Robeco Global Consumer Trends Equities can use derivatives for hedging and efficient portfolio management. Derivatives exposure may involve higher counterparty, liquidity and valuation risks. In adverse situations, the Funds may suffer significant losses (even a total loss of the Funds’ assets) from its derivative usage.
Robeco European High Yield Bonds is subject to Eurozone risk.
Investors may suffer substantial losses of their investments in the Funds. Investor should not invest in the Funds solely based on the information provided in this document and should read the offering documents (including potential risks involved) for details.
3. Local legal and sales restrictions
The Website is to be accessed by “professional investors” only (as defined in the Securities and Futures Ordinance (Cap.571) and/or the Securities and Futures (Professional Investors) Rules (Cap.571D) under the laws of Hong Kong). The Website is not directed at any person in any jurisdiction where (by reason of that person’s nationality, residence or otherwise) the publication or availability of the Website is prohibited. Persons in respect of whom such prohibitions apply or persons other than those specified above must not access this Website. Persons accessing the Website need to be aware that they are responsible themselves for the compliance with all local rules and regulations. By accessing this Website and any of its pages, you acknowledge your agreement with understanding of the following terms of use and legal information. If you do not agree to the terms and conditions below, do not access this Website or any pages thereof.
The information contained in the Website is being provided for information purposes.
Neither information nor any opinion expressed on the Website constitutes a solicitation, an offer or a recommendation to buy, sell or dispose of any investment, to engage in any other transaction or to provide any investment advice or service. The information contained in the Website does not constitute investment advice or a recommendation and was prepared without regard to the specific objectives, financial situation or needs of any particular person who may receive it. An investment in a Robeco product should only be made after reading the related legal documents such as management regulations, prospectuses, most recent annual and semi-annual reports, which can be all be obtained free of charge at www.robeco.com/hk/en and at the Robeco Hong Kong office.
4. Use of the Website
The information is based on certain assumptions, information and conditions applicable at a certain time and may be subject to change at any time without notice. Robeco aims to provide accurate, complete and up-to-date information, obtained from sources of information believed to be reliable. Persons accessing the Website are responsible for their choice and use of the information.
5. Investment performance
No assurance can be given that the investment objective of any investment products will be achieved. No representation or promise as to the performance of any investment products or the return on an investment is made. The value of your investments may fluctuate. The value of the assets of Robeco investment products may also fluctuate as a result of the investment policy and/or the developments on the financial markets. Results obtained in the past are no guarantee for the future. Past performance, projection, or forecast included in this Website should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied, is made regarding future performance. Fund performance figures are based on the month-end trading prices and are calculated on a total return basis with dividends reinvested. Return figures versus the benchmark show the investment management result before management and/or performance fees; the fund returns are with dividends reinvested and based on net asset values with prices and exchange rates of the valuation moment of the benchmark.
Investments involve risks. Past performance is not a guide to future performance. Potential investors should read the terms and conditions contained in the relevant offering documents and in particular the investment policies and the risk factors before any investment decision is made. Investors should ensure they fully understand the risks associated with the fund and should also consider their own investment objective and risk tolerance level. Investors are reminded that the value and income (if any) from shares of the fund may be volatile and could change substantially within a short period of time, and investors may not get back the amount they have invested in the fund. If in doubt, please seek independent financial and professional advice.
6. Third party websites
This website includes material from third parties or links to websites maintained by third parties some of which is supplied by companies that are not affiliated to Robeco. Following links to any other off-site pages or websites of third parties shall be at the own risk of the person following such link. Robeco has not reviewed any of the websites linked to or referred to by the Website and does not endorse or accept any responsibility for their content nor the products, services or other items offered through them. Robeco shall have no liability for any losses or damages arising from the use of or reliance on the information contained on websites of third parties, including, without limitation, any loss of profit or any other direct or indirect damage. Third party off-site pages or websites are provided for informational purposes only.
7. Limitation of liability
Robeco as well as (possible) other suppliers of information to the Website accept no responsibility for the contents of the Website or the information or recommendations contained herein, which moreover may be changed without notice.
Robeco assumes no responsibility for ensuring, and makes no warranty, that the functioning of the Website will be uninterrupted or error-free. Robeco assumes no responsibility for the consequences of e-mail messages regarding a Robeco (transaction) service, which either cannot be received or sent, are damaged, received or sent incorrectly, or not received or sent on time.
Neither will Robeco be liable for any loss or damage that may result from access to and use of the Website.
8. Intellectual property
All copyrights, patents, intellectual and other property, and licenses regarding the information on the Website are held and obtained by Robeco. These rights will not be passed to persons accessing this information.
9. Privacy
Robeco guarantees that the data of persons accessing the Website will be treated confidentially in accordance with prevailing data protection regulations. Such data will not be made available to third parties without the approval of the persons accessing the Website, unless Robeco is legally obliged to do so. Please find more details in our Privacy and Cookie Policy.
10. Applicable law
The Website shall be governed by and construed in accordance with the laws of Hong Kong. All disputes arising out of or in connection with the Website shall be submitted to the exclusive jurisdiction of the courts of Hong Kong.
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1929: Laying the Foundations
Just weeks after the Wall Street Crash, seven Rotterdam businessmen formed a syndicate to invest peoples’ savings and manage money collectively. They named it the Rotterdamsch Beleggings Consortium, later shortened to Robeco. They thought stocks had hit at a low point, but due to the Great Depression, they lost half their money in the first two years. However, they persevered, laying the foundations for the modern Robeco.
1930s: Creating a global reach
Robeco’s first director, Wim Rauwenhoff, attached great value to research, striving for a scientific approach to investing. The founders also believed in global reach, buying stocks in South America as early as 1930 and expanding into Europe and North America, before listing on the Amsterdam Stock Exchange in 1938.
Wim Rauwenhoff
Robeco's first director (from 1933 to 1960)
“
Every investment strategy should be research-driven
1940s: Emerging from war
During World War II, more than half the portfolio was safely invested in the US, and between 1941 and 1946, Robeco’s assets almost doubled in size. The wartime period also saw Robeco further develop its scientific approach to investing, including a partnership with what became the world-leading Erasmus University in Rotterdam. This dedication to research eventually led to pioneering work in quantitative and sustainability investing.
1950s: Making investing accessible
The 1950s saw further innovation, led in 1953 by the introduction of a share-saving system that allowed people of more modest means to save up to buy Robeco shares, making investing more accessible within the Netherlands. The postwar period also saw steady expansion, and Robeco listed on its first foreign stock market, in Paris, in 1959.
1960s: Swinging ahead overseas
In the ‘Swinging Sixties’, further overseas expansion continued with listings for Robeco on the stock markets in Brussels in 1960 and London in 1962, along with several other European financial centers. In 1963, Robeco became the first European company to enter the Japanese stock market. Two years later, a second investment company, Rolinco, was founded for investors more interested in capital growth than in taxable dividends.
1970s: From bonds to new businesses
Innovation and diversification continued apace, with the establishment of Rorento, Robeco’s first bond fund, as an antidote to the oil crisis which saw share values plummet in 1973. Diversification also took place in a different vein after the Ford Foundation asked Robeco to run part of its portfolio, marking the start of the institutional asset management activities which now account for roughly 50% of assets under management. The 1970s also saw a string of mergers in which Robeco took over many of its main rivals to become the largest fund provider in Europe. Geographical expansion also continued unabated, opening new offices in France, Luxembourg and Switzerland, and listing on stock markets in Hong Kong and Tokyo.
1980s: Turning turmoil into triumph
Robeco’s experience of the first great stock market crash came good when the second occurred in October 1987, when it had learned the lessons of history and developed a crash policy. Minimizing risk through diversification averted panic behavior and led to a milder downfall in assets values compared to that of the Dow Jones.
1990s: Enter quant and sustainability
The 1990s was a key development period in which Robeco pioneered the use of quantitative and sustainable investing. The first quant strategy was launched in 1994, followed by the first sustainable product, the ‘Groencertificaten’ (Green Certificates), created in conjunction with new parent company Rabobank in 1995. Robeco later launched the first sustainable equities fund in the Netherlands.
2000s: New millennium, new milestones
The new millennium brought its own milestones for Robeco Group, with the US initially the focus of expansion as Harbor Capital Advisors and Boston Partners Asset Management joined the growing family. By the early 21st century, total assets under management broke through the EUR 100 billion barrier. Meanwhile, international expansion continued as offices were opened in the Middle East, Europe and Asia, where a joint venture with Canara first tapped the vast Indian market. Robeco Group’s sustainability reach solidified with the purchase of Zurich-based Sustainable Asset Management, later rebranded as RobecoSAM, and now as Robeco Switzerland.
2010s: Global leadership in selected areas
Robeco began the new decade by starting to integrate environmental, social and governance factors into the investment decision-making process. This would provide the bedrock for maintaining Robeco’s dominance in sustainable investing in the years to come. The company began an exciting new chapter when the Japanese financial services group ORIX Corporation acquired Robeco Group in 2013. The deal meant that Robeco became part of an international company with a solid reputation. Robeco increasingly focused on areas where it really stands out and can build true leadership. In 2019, Robeco celebrated its 90th anniversary as a world leader in sustainable investing and quant, and the only asset manager to routinely integrate sustainability factors into its entire range of fundamental equity and fixed income strategies.
2020s: Acting towards net zero carbon ambition
Robeco further extended its sustainable expertise by launching the world’s first climate change global fixed income strategies that are aligned with the Paris Agreement. The company also committed to a net zero carbon ambition making all its assets under management carbon neutral by 2050, in line with the European Union’s own targets. This total commitment to sustainability enabled Robeco to build on its leading positions in quantitative and thematic strategies, credits, and emerging markets investing, as integrated ESG was increasingly demanded by clients across all asset classes.
