Robeco Asian Stars Equities E EUR

Concentrated and unconstrained investment in Asia's brightest stars

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.

Class and codes

Asset class
Equities
ISIN
LU1143725288
Bloomberg
RASSEEE LX

Asset class

Equities

ISIN

LU1143725288

Bloomberg

RASSEEE LX

Index

MSCI AC Asia ex Japan Index (Net Return, EUR)

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

( 31-08 )

Overview Performance & costs Portfolio Sustainability Commentary Documents

Per period	Fund	Reference index
1 month	-0.79%	-1.14%
3 months	7.88%	6.66%
YTD	0.95%	5.03%
1 year	9.17%	12.50%
2 years	7.96%	12.99%
3 years	3.80%	5.54%
5 years	8.76%	5.18%
10 years	7.12%	7.12%
Since inception 11/2014	6.26%	6.39%

Statistics	3 years	5 Years
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.	5.43	5.55
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.	-0.08	0.93
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.	0.15	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..	-0.10	5.42
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.	0.87	0.88
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).	15.10	13.25
Max. monthly gain (%) The maximum (i.e. highest) absolute positive monthly performance in the underlying period.	10.05	10.05
Max. monthly loss (%) The maximum (i.e. highest) absolute negative monthly performance in the underlying period.	-7.42	-7.42

Date	Amount
23.04.2025	EUR 2.10
24.04.2024	EUR 2.04
27.04.2023	EUR 3.46
28.04.2022	EUR 3.23

Cost of this fund	Percentage
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.	1.50%
Included management fee A fee paid by the fund to the asset management company for the professional management of the fund.	1.25%
Included service fee This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.	0.20%
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.

Profile

Per 31-08-2025

ESG IntegrationVoting & Engagement

Sustainability

Per 31-08-2025

The fund incorporates sustainability in the investment process through exclusions, ESG integration, engagement and voting. The fund does not invest in issuers that are in breach of international norms or where activities have been deemed detrimental to society following Robeco's exclusion policy. Financially material ESG factors are integrated in the bottom-up investment analysis to assess existing and potential ESG risks and opportunities. In the stock selection the fund limits exposure to elevated sustainability risks. In addition, where a stock issuer is flagged for breaching international standards in the ongoing monitoring, the issuer will become subject to engagement. Lastly, the fund makes use of shareholder rights and applies proxy voting in accordance with Robeco's proxy voting policy.For more information please visit the sustainability-related disclosures.The index used for all sustainability visuals is based on MSCI AC Asia ex Japan Index (Net Return, EUR).

Market development

Per 31-08-2025

Asian markets rose 1.3% in August, underperforming versus the S&P500 (+1.9%) as well as the MSCI DM (+2.5%). Among the major developments in August was another 90-day extension of tariffs on China (previously set to expire on 12 August). A-share indices were higher by 10%+ and trading volumes reached record highs. Retail margin balances rose 13%, and fund allocations shifted toward equities. This participation also spilled over to Hong Kong via southbound buying, driving the MSCI China up +5.0% despite lingering deflation concerns. Also helping broader regional/global equities was the increased probability of Fed rate cuts in September, triggered initially by negative payroll revisions and subsequently by a shift in the tone of Fed Chair Powell's speech at Jackson Hole. As a result, the USD was down 2.2% in August. Despite this, though, Asian equity markets generally experienced outflows, particularly India.

Performance explanation

Per 31-08-2025

Based on transaction prices, the fund's return was -0.79%. The portfolio underperformed versus its benchmark, driven by stock selection. Stock picks worked well in Taiwan and Indonesia but detracted in China and India. In terms of sectors, stock selection was positive in financials but detracted in healthcare and utilities.

Expectation of fund manager

Vicki Chi
Joshua Crabb

Equity markets have maintained their strong momentum despite ongoing tariff and geopolitical tensions. Concerns about earnings expectations persist, leading to general downgrades, including in Asia. Despite a more dovish tone post-Jackson Hole, US long yields remain elevated. The trade deal with China is still in progress, but tensions with India have increased due to disagreements over Russian oil amid the ongoing Russia-Ukraine conflict. Despite these challenges, Asian markets remain attractively valued, especially in relative terms. Asian countries still have monetary and fiscal tools at their disposal, with inflation being less of an issue. Once political issues in ASEAN stabilize, long-term fundamentals should support structural growth. Improvement in shareholder returns remains a powerful theme, with Japan leading the way and South Korea's 'Value Up' initiative gaining momentum. Earnings revisions need to be monitored carefully given the moderating macro backdrop. It is crucial to remain calm, focus on the fundamentals, and take advantage of volatility to identify medium-term alpha opportunities.

Total size of fund	EUR 42,450,066.47
Size of share class	EUR 2,333,000.16
Inception date share class	2014-11-26
1-year performance	9.17%
Dividend paying	Yes

Robeco Asian Stars Equities E EUR

Concentrated and unconstrained investment in Asia's brightest stars

Key points

About this fund

Key facts

Fund manager

Performance

Statistics

Dividend paying history

Costs

Fiscal product treatment

Fiscal treatment of investor

Fund allocation

Policies

Profile

Sustainability

Market development

Performance explanation

Expectation of fund manager

Fund documents

Annual and Semi-Annual Reports

Announcements

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