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Robeco Global Gender Equality D EUR
Strength in equality
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.
D-EUR
D-USD
F-EUR
F-USD
I-EUR
IE-EUR
IE-GBP
Z-EUR
Class and codes
Asset class:
Equities
ISIN:
LU2145458969
Bloomberg:
RSGGIDE LX
Index
MSCI World Index TRN
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 8
Morningstar
Morningstar
Copyright © Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Download The Morningstar Rating for Funds (chapter: The Morningstar Rating: Three-, Five-, and 10-Year) on the Morningstar website.
Rating (31/07)
- Overview
- Performance & costs
- Portfolio
- Sustainability
- Commentary
- Documents
MISSING: fund.detail.tabs.
Key points
- Gender equality, and diversity more broadly, can create both social and financial value
- A company’s true commitment to equality has to go beyond the board: we assess companies’ gender performance across no fewer than 38 criteria, including diversity in key management positions, pay parity, talent retention and work-life balance
- The strategy selects fundamentally attractive companies from a universe of gender equality leaders
About this fund
Robeco Global Gender Equality is an actively managed fund that invests globally in companies that advance gender diversity and gender equality. The selection of these stocks is based on fundamental analysis. The strategy integrates sustainability criteria as part of the stock selection process and through a theme-specific sustainability assessment. The portfolio is built on the basis of an eligible investment universe that includes companies with higher gender scores based on an internally developed gender score methodology. This comprises various criteria, such as board diversity, equal renumeration, talent management and employee well-being. The fund's objective is to achieve a better return than the index.
Key facts
Total size of fund
€ 81,553,518
Size of share class
€ 24,384,824
Inception date share class
29-10-2020
1-year performance
20.01%
Dividend paying
No
Fund manager
![Audrey Kaplan](https://images.ctfassets.net/tl4x668xzide/1IC1WtkUV1tWRArxBM8e9o/834c7d08ada2fea24b163ae9bc22a867/audrey-kaplan-thumb.jpg?fit=fill&w=162&h=162&f=center&fm=webp)
Audrey Kaplan
Nathan Gabai
Audrey Kaplan is Portfolio Manager and member of the Global Equity team. She is responsible for fundamental global equities with a focus on gender-based investing and on consumer staples, as well as portfolio construction. She joined Robeco in 2021. Previously, she was Head of Global Equity Strategy at Wells Fargo Investment Institute (NY). Prior to joining Wells Fargo, she worked as Head of International Equity Team and Senior Portfolio Manager at Federated Investors, Inc. (NY, now known as Federated Hermes). She also held roles in European research at Merrill Lynch International (London) and in Asian research at Salomon Brothers, Inc. (Tokyo) earlier in her career. She holds a Master's in Finance from London Business School and a Bachelor’s in Computer & Systems Engineering from Rensselaer Polytechnic Institute. Nathan Gabai is Co-Portfolio Manager of the Robeco Global Gender Equality strategy and member of the Global Equity team. Within the team, he is responsible for fundamental global equities with a focus on consumer discretionary. He joined Robeco in 2022 and the team in 2023. He holds a Master’s from IÉSEG School of Management, Paris, specialized in risk and asset management.
Performance
Per period
Per annum
- Per period
- Per annum
1 month
1.31%
0.79%
3 months
7.71%
7.18%
YTD
17.35%
16.08%
1 year
20.01%
20.57%
2 years
9.27%
12.49%
3 years
6.26%
10.16%
5 years
8.89%
12.70%
Since inception 09/2015
10.27%
11.79%
2023
11.68%
19.60%
2022
-18.22%
-12.78%
2021
31.66%
31.07%
2020
3.28%
6.33%
2019
28.58%
30.02%
2021-2023
6.34%
10.99%
2019-2023
9.81%
13.58%
Statistics
Statistics
Hit-ratio
- Statistics
- Hit-ratio
Tracking error ex-post (%)
The ex-post tracking error is defined as the volatility of the fund's achieved excess return over the index return. In fund management, most managers are subject to an ex-ante (pre-determined) tracking error, which defines the extent of the additional risk they may take when aspiring to outperform the fund's benchmark. The ex-post tracking error explains the distribution of past fund performances compared to those of its underlying benchmark. With a higher tracking error, the fund's returns deviate more from its index's returns, hence there is a greater chance that the fund may outperform. The wider the spread of returns relative to the benchmark, the more "actively" a fund has been managed. In contrast, a low tracking error indicates more "passive" management.
3.99
3.98
Information ratio
This ratio serves to evaluate the quality of the excess return a fund manager has achieved because it takes the active risk involved into account. The information ratio is defined as the excess return over the benchmark return divided by the fund's tracking error. The higher the information ratio, the better. For example, a fund with a tracking error of 4% and an excess return of 2% over benchmark has an information ratio of 0.5, which is quite good.
-0.56
-0.51
Sharpe ratio
This ratio measures the risk-adjusted performance and allows the performance quality of different investments to be compared. It is calculated by subtracting the risk-free rate from the fund's returns and dividing the result by the fund's standard deviation (risk). So the Sharpe ratio tells us whether a fund's returns are the result of smart investment decisions or stem from taking extra risk. The higher the ratio, the better, meaning that a greater return is achieved per unit of risk. This ratio is named after its inventor, Nobel Laureate, William Sharpe.
0.44
0.67
Alpha (%)
Alpha measures the difference between a portfolio's actual return and its expected performance, given the level of risk, compared to the benchmark. A positive alpha figure indicates that the fund has performed better than expected, given the level of risk. Beta is used to calculate the level of risk compared to the benchmark..
-1.56
-0.95
Beta
Beta is a measure of a portfolio's volatility, or systematic risk, in comparison to the benchmark. A beta of 1 indicates that the portfolio will move with the benchmark. A beta of less than 1 means that the portfolio will be less volatile than the benchmark. A beta of more than 1 indicates that the portfolio will be more volatile than the benchmark. For example, if a portfolio's beta is 1.2 it is theoretically 20% more volatile than the benchmark.
0.94
0.92
Standard deviation
Standard deviation is a measure of the dispersion of a set of data from its mean. The more spread out the data is, the higher the deviation. In finance, standard deviation is applied to the annual rate of return of an investment to measure the investment's volatility (risk).
13.85
14.57
Max. monthly gain (%)
The maximum (i.e. highest) absolute positive monthly performance in the underlying period.
8.26
10.57
Max. monthly loss (%)
The maximum (i.e. highest) absolute negative monthly performance in the underlying period.
-7.24
-11.45
Months out performance
Number of months in which the fund outperformed the benchmark in the underlying period.
19
29
Hit ratio (%)
This percentage indicates the number of months in which the fund outperformed in a given period.
52.8
48.3
Months Bull market
Number of months of positive benchmark performance in the underlying period.
22
38
Months outperformance Bull
Number of months in which the fund outperformed positive benchmark performance in the underlying period.
10
15
Hit ratio Bull (%)
This percentage indicates the number of months the fund outperformed a positive benchmark in an underlying period.
45.5
39.5
Months Bear market
Number of months of negative benchmark performance in the underlying period.
14
22
Months outperformance Bear
Number of months in which the fund outperformed negative benchmark performance in the underlying period.
9
14
Hit ratio Bear (%)
This percentage indicates the number of months the fund outperformed a negative benchmark performance in an underlying period.
64.3
63.6
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.
1.61%
Included management fee
A fee paid by the fund to the asset management company for the professional management of the fund.
1.40%
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.
0.09%
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
Currency
Sector
Top 10
- Asset
- Currency
- Sector
- Top 10
Policies
The fund is allowed to pursue an active currency policy to generate extra returns and can engage in currency hedging transactions.
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.
Robeco Global Gender Equality is an actively managed fund that invests globally in companies that advance gender diversity and gender equality. The selection of these stocks is based on fundamental analysis. The strategy integrates sustainability criteria as part of the stock selection process and through a theme-specific sustainability assessment. The portfolio is built on the basis of an eligible investment universe that includes companies with higher gender scores based on an internally developed gender score methodology. This comprises various criteria, such as board diversity, equal renumeration, talent management and employee well-being. The fund's objective is to achieve a better return than the index. The fund promotes E&S (i.e. Environmental and Social) characteristics within the meaning of Article 8 of the European Sustainable Finance Disclosure Regulation, integrates sustainability risks in the investment process and applies Robeco’s Good Governance policy. The fund applies sustainability indicators, including but not limited to, normative, activity-based and region-based exclusions, proxy voting and engagement. The fund aims to advance societal impact by investing in companies that consciously recognize and promote gender equality by recruiting, nurturing and retaining female talent. The Sub-fund is actively managed. The securities selected for the Sub-fund's investment universe may be components of the Benchmark, but securities outside the Benchmark may be selected too. The investment policy is not constrained by a benchmark but the Sub-fund uses a benchmark for comparison purposes. The Management Company has discretion over the composition of the portfolio subject to the investment objectives. The Sub-fund can deviate substantially from the issuer, country and sector weightings of the benchmark. There are no restrictions on the deviation from the benchmark. The benchmark is a broad market weighted index that is not consistent with the environmental, social and governance characteristics promoted by the Sub-fund.
Risk management is fully integrated into the investment process to ensure that positions always meet predefined guidelines.
Sustainability profile
Exclusion based on negative screening
≥20%
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 incorporates sustainability in the investment process by the means of a target universe definition, exclusions, negative screening, ESG integration, and voting. The fund invests at least two-thirds in companies that have a Gender Equality score of 50 or higher and only invests in companies with positive or neutral SDG scores based on the internally developed SDG Framework. The fund also applies a negative screening to exclude the 20% worst ESG scoring stock issuers from the investable universe and does not invest in stock issuers that are in breach of international norms or where products have been deemed controversial as per Robeco's exclusion policy. Financially material ESG factors are integrated in the bottom-up fundamental investment analysis to assess existing and potential ESG risks and opportunities. In addition, 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 Index TRN.
Market development
Despite the increase in market volatility in July, the global market modestly extended its year-to-date return. Softer inflation data and US labor market data heightened expectations of rate cuts and now the market expects three US rate cuts this year. While AI and chip stocks continued to lead the rally early in the month, a rotation into smaller caps and interest rate-sensitive stocks and asset classes led gains by mid-month. Value outperformed growth and low-volatility, high dividend-yield companies had robust performance. The Q2 earnings season kicked off, with ~30% of companies having reported in the US and in Europe, so far. Despite the positive surprise factor in both the US and Europe, the weekly sell-side earnings revisions are deteriorating again in the main regions. Defensives are coming in stronger in the US and in Europe. Excluding Tech, US Cyclical earnings are lagging Defensives by 10%.
Performance explanation
Based on transaction prices, the fund's return was 1.31%. The portfolio continued its year-to-date positive return (+1.3%), outperforming the MSCI World by 54 bps while maintaining a strong lead to the benchmark year-to-date with +18.3% versus +16.1%. In July, and consistent with year-to-date results, both absolute and relative performance was especially driven by strong stock selection. Ten out of 11 sectors had positive stock-selection attribution led especially by consumer sectors – both consumer staples and consumer discretionary – as well as by financials and real estate. The only sector where stock selection was a detractor was materials.
Expectation of fund manager
![Audrey Kaplan](https://images.ctfassets.net/tl4x668xzide/1IC1WtkUV1tWRArxBM8e9o/834c7d08ada2fea24b163ae9bc22a867/audrey-kaplan-thumb.jpg?fit=fill&w=162&h=162&f=center&fm=webp)
Audrey Kaplan
Nathan Gabai
As we await more earnings results in the coming weeks, any outlook cuts or suggestions of deteriorating operating environments will provide clues whether this fierce rotation can continue to hold. We are not making major changes to the portfolio as a result of the current market rout, since it is already well-diversified and sufficiently defensively positioned. We do however look for opportunities that the current sell-off may offer, including adding some weight to travel and leisure companies and to some high-quality banks with strong profitability. Our investment strategy remains focused on a diverse mix of quality companies with strong operational track records and resilient business models designed to be agnostic to most macroenvironments, so we can confidently look ahead at what comes next.
A provision for exchange rate fluctuation when representations are made in foreign currencies (i.e. Any representations made which are not denominated in HKD/ USD/ EUR) may expose investors to exchange rate fluctuations.
Investment involves risks. Past performance is not indicative of future performance. The information contained in this website is provided for reference only and does not constitute any investment advice. Investors are advised to seek independent advice before making any investment decision. Please refer to the relevant offering documents for details including the risk factors before making any investment decisions. This web page is published by Robeco Hong Kong Limited and has not been reviewed by the Securities and Futures Commission.
Positive distribution yield does not imply positive return. Investors should not make any investment decision solely based on information contained in the table. You should read the relevant offering document (including the key facts statement) of the fund for further details including the risk factors.
Annualized yield is calculated with the following formula: Sum of the monthly dividends over a period of 12 months / average of the applicable prices of the first business day of these 12 months * 100%
Where a reference is made to the frequency of dividend distributions, this frequency is an aim and not a guarantee. The fund may at its discretion pay dividend out from capital. Dividend yield is not guaranteed, and is not indicative the return of the Fund. The yield figure is for reference only. The fund may at its discretion to pay dividend out from capital. Distributions out of capital may result in the reduction of an investor’s original capital invested in the Sub-fund or from any capital gains attributable to that original investment of the Sub-fund. Also, any distributions involving the capital and/or capital gains may result in an immediate reduction of the net asset value per share of the relevant class. Payment of dividends out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. If there is a change of distribution policy of the Sub-fund, the Management Company will seek the prior approval of the Securities and Futures Commission in Hong Kong ('SFC') and provide at least one month’s prior notice to affected Shareholders.