![]() ![]() The Fed paused its hiking cycle in June, but markets expect that more tightening will be needed as the economy shows few signs of cooling. In emerging markets, the CEMBI spread declined 34 bps to 3.44%. Global High Yield Index spreads tightened 63 bps to 4.91% and spreads on the Bloomberg Global Aggregate-Corporates Index tightened 12 bps to 1.39%. June turned out to be a strong month for credit markets, with spread tightening across different market segments. Lastly, where a credit issuer is flagged for breaching international standards in the ongoing monitoring, the issuer will become subject to exclusion. Furthermore, the fund invests at least 5% in green, social, sustainable, and/or sustainability-linked bonds. ESG factors are integrated in the bottom-up security analysis to assess the impact of financially material ESG risk on the issuer's fundamental credit quality. ![]() In addition, the fund does not invest in credit issuers that are in breach of international norms or where activities have been deemed detrimental to society following Robeco's exclusion policy. The outcome is a quantified contribution expressed as an SDG score, considering both the contribution to the SDGs (positive, neutral or negative) and the extent of this contribution (high, medium or low). The impact of issuers on the SDGs is determined by applying Robeco's internally developed three-step SDG Framework. The fund solely invests in credits issued by companies with a positive or neutral impact on the SDGs. Sustainability is incorporated in the investment process by the means of a target universe, exclusions, ESG integration, and a minimum allocation to ESG-labeled bonds. Holdings mapped as corporates and/or sovereign are included in the figures. If an index has been selected, the same figures are also provided for the index. If the data set does not cover the full portfolio, the figures shown above each impact level sum to the coverage level to reflect the data coverage of the portfolio, with minimal deviations that reflect rounding. This results in a 7-step scale from -3 to +3. The score ranges from positive to negative impact alignment with levels from high, medium or low impact alignment. The frameworks, which utilizes a three-step approach to assess a company’s impact alignment with the relevant SDGs, provides a methodology for assigning companies with an SDG score. ![]() This distribution across SDG scores shows the portfolio weight allocated to companies with a positive, negative and neutral impact alignment with the Sustainable Development Goals (SDG) based on Robeco’s SDG Framework. The portfolio is built on the basis of the eligible investment universe and the relevant SDGs using an internally developed framework about which more information can be obtained via the website The investment policy of the fund is not constrained by a benchmark. The fund will invest in a broad array of fixed income sectors and utilize income efficient implementation strategies. The fund's objective is also to maximize current income. The fund takes explicitly into account the contribution of a company to the UN SDGs. The fund applies sustainability indicators, including but not limited to normative, activity-based and region-based exclusions. ![]() The fund integrates ESG (Environmental, Social and Governance) factors in the investment process, applies Robeco’s Good Governance policy. The fund advances the UN Sustainable Development Goals (SDGs) by investing in companies whose business models and operational practices are aligned with targets defined by the 17 UN SDGs. The fund has sustainable investment as its objective within the meaning of Article 9 of the European Sustainable Finance Disclosure Regulation. The selection of these bonds is based on fundamental analysis. RobecoSAM SDG Credit Income is an actively managed fund that invests in companies that contribute to realizing the UN Sustainable Development Goals (SDGs). ![]()
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