Evert Giesen is Portfolio Manager Investment Grade in the Credit team. Previously, he was an Analyst, responsible for covering the Automotive sector within the Credit team. Prior to joining Robeco in 2001, Evert worked at AEGON Asset Management for four years as a Fixed Income Portfolio Manager. He has been active in the industry since 1997 and holds a Master's in Econometrics from Tilburg University. Joost Breeuwsma is Portfolio Manager Investment Grade in the Credit team. He has a focus on European investment grade portfolios and global green bond portfolios. Prior to starting his career and joining Robeco in 2017 as a credit analyst, he obtained a Master’s with Distinction in Financial Mathematics from King’s College London.

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.

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.

The fund’s sustainable investment objective is to invest in green bonds. Green bonds are bonds that are recognized as such by external sources and which proceeds are used to finance or refinance in part or in full new and/or existing environmentally-friendly projects. The green bond selection is based on external data or an internally developed five-step Green bond framework. The five-step framework states that the issuer's green bond framework must be aligned with market standards related to green bonds such as such as the ICMA Green Bond Principles. Next, the allocation of the investment proceeds must contribute to at least one of the six objectives of the EU Taxonomy nor do any significant harm to the other five. The six objectives of the EU Taxonomy Regulation are climate change mitigation and adaptation, sustainable use and protection of water and marine resources, the transition to a circular economy, pollution prevention and control, and the protection of healthy ecosystems. The third and fourth steps require that the bond issuer reports on the use of proceeds and that the issuance aligns with the wider sustainability strategy of the issuer. The fifth and last step states that the issuer must respect international norms related to conduct such as international labor rights, human rights and the UN Global Compact. In addition, the investment process also takes into account exclusions following Robeco's exclusion policy and integrates financially material ESG factors in the bottom-up issuer analysis to assess the impact on the issuer's fundamentals.

March was turbulent for credit markets, as trade tensions escalated and economic data weakened. Uncertainty over US tariffs, elevated inflation expectations, and declining consumer confidence weighed heavily on sentiment. Key indicators, such as the University of Michigan and Conference Board surveys, pointed to growing consumer pessimism, while a raft of cautious corporate guidance and mounting policy uncertainty pushed recession probabilities higher. Risk assets sold off: the S&P 500 dropped 5.6%, and both high yield and investment grade credit widened. US Treasuries were mixed but with a clear curve steepening trend. Europe diverged, with a major fiscal shift toward defense spending, driving longer German yields sharply higher – March saw the largest Bund yield jump since reunification. Meanwhile, the ECB cut rates again, in contrast to a steady Fed. This widening policy gap supported flows into European credit and underpinned its resilience, reinforcing investor preference for high-quality assets in an increasingly fragile environment.

March was turbulent for credit markets, as trade tensions escalated and economic data weakened. Uncertainty over US tariffs, elevated inflation expectations, and declining consumer confidence weighed heavily on sentiment. Key indicators, such as the University of Michigan and Conference Board surveys, pointed to growing consumer pessimism, while a raft of cautious corporate guidance and mounting policy uncertainty pushed recession probabilities higher. Risk assets sold off: the S&P 500 dropped 5.6%, and both high yield and investment grade credit widened. US Treasuries were mixed but with a clear curve steepening trend. Europe diverged, with a major fiscal shift toward defense spending, driving longer German yields sharply higher – March saw the largest Bund yield jump since reunification. Meanwhile, the ECB cut rates again, in contrast to a steady Fed. This widening policy gap supported flows into European credit and underpinned its resilience, reinforcing investor preference for high-quality assets in an increasingly fragile environment.