Robeco
The latest research and outlooks in the ProAllocate library
- Fixed Income
Higher bond yields in an era of abundant supply
Rising AI-related capital expenditure is driving a surge in corporate bond issuance from hyperscalers and utilities, converging with elevated sovereign borrowing to end years of bond scarcity. The report argues this growing supply favours active credit selection over reliance on scarcity-driven spread compression.
- Fixed Income
Could French bond stress change the ECB's course?
French bond spreads have widened amid fiscal and political uncertainty ahead of 2027 budget talks and the 2027 presidential election, raising debt sustainability concerns. The piece argues contagion risk to Italian and Greek bonds could force the ECB to pause hikes or deploy its Transmission Protection Instrument.
- ETFs
Enhanced indexing for global equity investing
Robeco argues that market-cap-weighted indices are not neutral and that its 3D Global Equity UCITS ETF uses proprietary, continually refined factor models plus sustainability integration to seek benchmark-aware excess returns. The strategy combines value, quality, momentum, analyst revisions and short-term signals with risk and ESG considerations in portfolio construction.
- Fixed Income
How dynamic high yield responds when spreads widen
With high-yield spreads near historic lows despite macro risks, the article argues investors should stay invested for income and diversification but adopt a dynamic, signal-based approach to adjust exposure as conditions change.
- Equities
What 20 years of defensive equities can teach investors
Robeco argues its Conservative Equities strategies have delivered consistent alpha and downside protection over 20 years despite underperforming during the recent tech-led bull market. It contends rising market concentration makes defensive equity exposure more valuable now, not less.
- Emerging Markets
Emerging markets investing: Why country selection matters
Robeco argues emerging markets should not be treated as a single asset class, since GDP growth rarely converts reliably into equity or bond returns across diverse economies. It contends dispersion in valuations, earnings conversion and policy credibility favours active, country-specific selection over passive EM exposure.
- Sustainability
Physical climate risks are reshaping asset prices and investment strategies
Robeco's sixth annual survey of 300 investors finds most now expect physical climate risks—wildfires, heatwaves, floods—to materially affect asset prices within five to twenty years. Interest splits evenly between climate adaptation/resilience and mitigation solutions, with Lucian Peppelenbos noting resilience assessment is becoming central to security selection.
- Sustainability
Climate stewardship: How systemic engagement can strengthen portfolio resilience
Robeco's Q3 stewardship report details a shift toward 'systemic' climate engagement involving policymakers, alongside new focus areas on ocean health and corporate tax transparency. It also warns that reduced SEC guidance on shareholder proposals is fuelling litigation and an anti-ESG backlash in the US.
- Sustainability
El Niño risks and biodiversity investing in a warming world
Robeco argues that a forecast Super El Niño and accelerating biodiversity loss threaten global growth, food prices and supply chains, creating a multi-trillion-dollar investment opportunity in nature-positive and resource-efficient companies ahead of COP17.