Biodiversity Equities I USD - LU2539441704

Key points

Thematic investment opportunities in solutions and companies that sustainably use or help to restore nature’s resources
Strong tailwinds from regulation to better protect nature and changing consumer behavior to benefit biodiversity-aligned companies
Driving change through active engagement with companies on biodiversity topics

About this fund

Robeco Biodiversity Equities is an actively managed fund that invests in stocks of companies in countries globally which support the sustainable use of natural resources and ecosystem services to help reduce Biodiversity loss. 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 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 whose business models contribute to the thematic investment objectives. The assessment regarding relevant SDGs uses an internally developed framework, more information on which can be obtained at www.robeco.com/si. The fund also aims to achieve a better return than the index.

Key facts

Per 31-08-2025

Total size of fund	USD 8,227,287.14
Size of share class	USD 34,090.09
Inception date share class	2022-10-31
1-year performance	6.80%
Dividend paying	No

Fund manager

David Thomas

David Thomas is Portfolio Manager of the Robeco Biodiversity Equities strategy and member of the Thematic Investing team. Prior to joining Robeco in 2022, he was a portfolio manager at Ellerston Capital, managing multiple strategies, including a fund for one of the world’s largest sovereign wealth asset owners. David brings 29 years of experience in financial markets having worked for global corporations, including Price Waterhouse Coopers, Macquarie Bank, Morgan Stanley and CLSA. His expertise in equity markets with special focus on the consumer and IT sectors has been honed over multiple roles, both in Sydney and London. David holds a Bachelor of Business from Swinburne University and successfully completed the leadership program at Harvard Business School.

Per period	Fund	Reference index
1 month	3.38%	2.61%
3 months	4.38%	8.41%
YTD	13.30%	13.78%
1 year	6.80%	15.68%
2 years	11.96%	19.98%
Since inception 11/2022	11.73%	20.89%

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.	0.98%
Included management fee A fee paid by the fund to the asset management company for the professional management of the fund.	0.85%
Included service fee This fee is intended to cover official fees, such as the cost of annual reports, annual shareholders' meetings and price publications.	0.12%
Transaction costs The transaction costs shown are the average annual transaction costs over the last three years calculated in accordance with European regulations.	0.06%

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 0.01% 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

Investors who are not subject to (exempt from) Dutch corporate-income tax (e.g. pension funds) are not taxed on the achieved result. Investors who are subject to Dutch corporate-income tax can be taxed for the result achieved on their investment in the fund. Dutch bodies that are subject to corporate-income tax are obligated to declare interest and dividend income, as well as capital gains in their tax return. Investors residing outside the Netherlands are subject to their respective national tax regime applying to foreign investment funds. We advise individual 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.

Policies

Per 31-08-2025

Profile

Per 31-08-2025

ESG IntegrationVotingTarget Universe

Sustainability

Per 31-08-2025

The fund's sustainable investment objective is to support the sustainable use of natural resources and ecosystem services that help to reduce Biodiversity threats or restore natural habitats. This is achieved by incorporating sustainability considerations in the investment process by the means of a target universe definition, exclusions, ESG integration, and voting. The fund only invests in companies that have a significant thematic fit as per Robeco's thematic universe methodology. Through screening on both Robeco's internally developed SDG Framework and Robeco’s exclusion policy, the fund does not invest in issuers that have a negative impact on the SDGs, are in breach of international norms or where products have been deemed controversial. 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 policyFor more information please visit the sustainability-related disclosures.The index used for all sustainability visuals is based on MSCI World Index TRN.

Market development

Per 31-08-2025

Global markets extended their rally in August, with most major indices posting positive returns. Records continue to be broken despite geopolitical turmoil dominating headlines and growing concerns about the financial returns of AI investment. Nonetheless, the Nasdaq rose more than 1.5%, while the broader S&P 500 gained 2%. In Europe, performance was more subdued, with France once again the laggard, falling -0.9% as political uncertainty around proposed budget cuts weighed on confidence. Asian markets joined the rally, with Japan's Nikkei rising 4% and China's CSI posting an impressive 10% gain, supported by positive economic news and a renewed push for domestic tech.

Performance explanation

Per 31-08-2025

Based on transaction prices, the fund's return was 3.38%. The fund outperformed the broader market in August and was marginally ahead of the investable universe. Key drivers of performance this quarter included Montrose Environmental Group, VF Corp, and Lowe's, all of which responded positively to strong quarterly results. Montrose was a standout, surging 37% after beating earnings expectations by nearly 50% and raising full-year guidance. On the other hand, Beiersdorf, Zebra Technologies, and Veolia Environnement weighed on performance. Beiersdorf came under pressure after downgrading FY25 guidance, citing a more challenging US consumer environment. While we remain confident in the group's medium to long-term prospects, we acknowledge that it may take time to rebuild investor confidence. Zebra also sold off following its results, primarily due to market skepticism surrounding the acquisition of Elo Touch Solutions

Expectation of fund manager

David Thomas

As we move further into the second half of 2025, geopolitical concerns will remain on high alert and will require foresight and patience to navigate. We continue to pursue investments that meet our long-term criteria of having a defendable and sustainable competitive advantage with prudent financial exposure. Now that the tariffs have come into effect, the scale of the impact on global trade and corporate profitability will set the tone for the market.

Robeco Biodiversity Equities I USD

Investing in companies that benefit from the transition to a nature-positive world

Key points

About this fund

Key facts

Fund manager

Performance

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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