Dublin, Ireland (PRWEB) February 23, 2008
RaboDirect, Europe's largest online bank, has announced the launch of three new investment funds, the Robeco Telecom Services Equities Fund, the Robeco Food & Agri Equities Fund and a Euro (€) version of the BlackRock Merrill Lynch (MLIIF) Global Allocation Fund.
The Robeco Telecom Services Equities fund invests worldwide in large companies in the telecommunication services sector, typically combining a sound business model, solid growth prospects and a reasonable valuation. It has a 4 star rating from Morningstar and invests in an average of 40 companies, primarily across Europe, America, the Far East and Africa. Launched in May 2004, the fund achieved an annual performance figure of 9.3% (1) to the end of December 2007, outperforming its benchmark. The largest proportion of the Robeco Telecom Services Equities fund is invested in Diversified Telecom Services (60.1%), followed by Wireless Telecommunication Services (31.6%) and Internet Software & Services (4.6%).
The Robeco Food & Agri Equities fund invests globally in leading companies in the food & agri sector, which includes the food industry, tobacco, household & personal care products and food supermarkets. On average, this fund invests in 50 companies worldwide and has 3 star rating from Morningstar. Launched in May 2004, the fund achieved an annual performance figure of 8.2% (2) to the end of December 2007 and outperformed its benchmark. The largest proportion of the Robeco Food and Agri Equities fund is invested in Food Products (23.5%), followed by Beverages (22.5%), Food & Drug Retailing (21.0%), Personal Products (10.9%) and Tobacco (10.8%).
The MLIIF Global Allocation fund seeks to maximize total return in Euros by investing globally in equity, debt and short-term securities, of both corporate and governmental issuers, with no prescribed limits. In normal market conditions this fund will invest in at least 70% of its total net assets in the securities of corporate and governmental issuers. Launched in April 2005, the fund achieved an annual performance figure of 23.2% to the end of December 2007 (3). The largest proportion of the MLIFF Global Allocation fund is invested in Industrial Materials (19.11%), followed by the Financial Services (18.83), Energy (14.43%), Consumer Goods (9.18%) and Healthcare (7.64%).
As with all RaboDirect investment funds, the minimum investment is only €100. Entry fees and exit fees are 0.75% and investors can exit the fund partially or in full any time they like, as there are no additional early encashment penalties or switching costs. A fund provider's management fee of 1.5% per annum will be included in the daily fund price for each of these new funds.
The Robeco Food & Agri Equities fund is RaboDirect's Fund of the Month for March and is available at the reduced entry fee of only 0.25%.
Note for Editors
Rabobank Group is based in the Netherlands and has over 58,000 employees worldwide. Internationally the group has 235 offices in 35 countries. Rabobank Ireland plc is a wholly owned subsidiary of Rabobank Nederland, one of the world's largest banks and is AAA rated by the main rating agencies. Rabobank Ireland plc commenced operations in the IFSC in 1994 and has grown to become the second largest foreign owned bank in Ireland in terms of assets. Rabobank Group acquired ACCBank in 2002.
(1) Robeco Telecom Services Equities fund December 2007 Factsheet
(2) Robeco Food & Agri Equities fund December 2007 Factsheet
(3) Morningstar Fund Report January 2008