Institutional Investor rates Robeco as the best European high-yield bond manager of 2013. The US financial publisher's rating is based on Robeco’s positive long-term performance and consistent investment process.
Out of a group of several hundred asset managers, Institutional Investor selected the best managers in 20 different investment categories. The winners were chosen on the basis of both the long and short-term returns realized by their funds, their Sharpe ratios and the evaluations made by their European fund distributors.
For Roeland Moraal, fund manager of the Robeco European High Yield Bonds fund, this award is recognition for the consistent manner in which the credit team invests. "We use a top-down approach - riding the phase in the market cycle and capitalizing on thematic risk - combined with the results of thorough bottom-up analysis. For this, a credit team of 12 looks at bond-issuing companies, and studies aspects such as their financial solvency, strategy and sustainability. A significant factor in achieving positive performance in challenging market conditions has been to remain focused on the long term."
The Robeco European High Yield Bonds Fund realized annualized gross returns of 10.2% over the last three years and 19.2% over the last five years. With these returns, the fund has consistently outperformed its benchmark