Four ways of pursuing better

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The greatest leaps start with the smallest details That takes research. And that takes Robeco.

Since 1929 we have used a cautious, research-driven approach to boost performance with pioneering investment strategies. Today, we are a global, active asset manager with a full range of investment products, each run by a specialist team and offering outperformance potential under different market conditions. As pioneers of both quant and ESG, we are able to integrate quantitative and sustainability techniques into the solutions we offer our clients.

We never stop pursuing better ways of doing Optimize your investment performance with these game-changing strategies

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3 Important Information This statement is intended for professional investors. Robeco Institutional Asset Management B.V. has a license as manager of UCITS and AIFs from the Netherlands Authority for the Financial Markets in Amsterdam. This document is intended to provide general information on Robeco’s specific capabilities, but does not constitute a recommendation or an advice to buy or sell certain securities or investment products. The prospectus and the Key Investor Information Document for the Robeco Funds can all be obtained free of charge at www.robeco.com

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Four ways in which we continue to pursue better in asset management

The winner takes all

Helping to optimize your investment performance with game-changing strategies based on ground-breaking research

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Exploring new possibilities for factor investing PATRICK HOUWELING FUND MANAGER OF THE ROBECO GLOBAL MULTI-FACTOR CREDITS FUND

“ Factor investing is becoming increasingly popular.

Our empirical research tells us that by applying factors such as value, momentum, size and value risk, it’s possible to reap rewards in the financial markets.

Robeco was one of the first to introduce factor solutions. In recent years, large customers such as pension funds and sovereign wealth funds have seen the practical results of this approach in the equity markets. These parties have often asked us whether this mode of investing also works in other markets.

So in 2012 we set up Conservative Credits. This provides access to the low-risk factor within the scope of investment grade corporate bonds. The launch of the Robeco Global Multi-Factor Credits Fund makes us one of the first asset managers in the world to offer a total solution for factor investing in the field of corporate bonds.

On a daily basis, my colleagues and I discuss possible ways of improving our factor strategies. For instance, an important lesson is that the relative risk of a multi-factor portfolio is lower than the risk of the individual factors, while the return premium is retained.”

You can feel the dynamics here ARNOUT VAN RIJN HEAD OF THE ROBECO ASIA PACIFIC TEAM IN HONG KONG

“ Robeco has been investing in Asia since the 1960s and now handles the Asian market from Hong Kong, which is a huge advantage. All the companies from the region come here for presentations.

The contact we have with company directors is much more direct than if we were to follow developments by telephone, email or the internet. By keeping lines short, it’s possible to perform bottom-up stock selection rather than investing top-down, from a distance.

4 JACK NEELE FUND MANAGER OF THE ROBECO GLOBAL CONSUMER TRENDS EQUITIES FUND

“ The most important thing about trend investing is that you have to be able to distinguish clearly between short-term hype and strong, sustained movement. In the first phase of a new trend, this distinction is often difficult to make. We want to be sure of where we stand and therefore only invest in a company after monitoring it for more than a year.

Generally, we will then take a position in a mediumsized enterprise that focuses on one activity in which it genuinely stands out.

One of the things we have learned from our approach is that the most successful companies are market leaders in their niche. We often invest in a select group of leading companies within the most promising segments. Although numbers two and three usually have lower valuations than the market leader, returns are almost always disappointing. This pattern can often be seen among internet companies in particular, as enterprises that are most active within a specific sector will have a big advantage over their competitors.

The winner then takes the biggest share of the market.”

Our proximity also makes it easier for us to incorporate ESG investing, which has become one of Robeco’s investment-policy spearheads. We have genuine ties with companies and can have an open and sincere dialogue about possible conflicts of interest and independent management, for instance.

In periods of increasing uncertainty, maintaining contact with many people locally is another point in your favor. It’s a good way of getting a feel for the market’s dynamics. The Chinese market has also become a corporate-governance minefield in recent years, which makes a local presence a decided advantage.”

For more game-changing strategies that can help you optimize your investment performance, visit www.robeco.com

Sustainable information gives a distinct advantage EDITH SIERMANN CHIEF INVESTMENT OFFICER FOR FIXED INCOME

“ Robeco was one of the first asset managers to make sustainability factors an integral part of its investment process. This was not done for idealistic reasons, but rather because we consider investment information increasingly important. Looking at a company’s and country’s sustainability factors, in addition to its financial numbers, creates a more complete picture of the opportunities and the threats in the environment in which it operates.

More and more providers of sustainable information have become active in recent years. The important part is not so much the quantity of information they provide, but rather the relevance of this information to us as investors. We conduct studies on a regular basis to keep improving our knowledge in this area.

For example, we have analyzed the governance structures of underperforming banks. This has helped us to identify factors that can act as warning signs. We have applied our findings to other players in the sector.

Our experience gives us an advantage in detecting threats and opportunities before other investors.”