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Robeco Boston Partners International Equity Fund (Prospectus Summary) | Robeco Boston Partners International Equity Fund
SUMMARY SECTION
Investment Objective
The Fund seeks to provide long-term capital growth.
Expenses and Fees
This table describes the fees and expenses that you may pay if you buy and hold
Investor Class shares of the Fund.
Shareholder Fees (fees paid directly from your investment)
Shareholder Fees
Robeco Boston Partners International Equity Fund
Investor Class
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) none
Maximum deferred sales charge (load) none
Maximum sales charge (load) imposed on reinvested dividends none
Redemption fee (as a percentage of amount redeemed on shares held for less than 60 days, if applicable) 1.00%
Exchange fee (as a percentage of amount exchanged on shares held for less than 60 days, if applicable) 1.00%
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Robeco Boston Partners International Equity Fund
Investor Class
Management fees 0.90%
Distribution and servicing (12b-1) fees 0.25%
Other expenses 2.87%
Total annual Fund operating expenses 4.02%
Less Fee Waivers and Expense Reimbursements [1] (2.47%)
Net expenses 1.55%
[1] The Fund's investment adviser, Robeco Investment Management, Inc. ("Robeco"), has contractually agreed to waive all or a portion of its advisory fee and/or reimburse expenses in an aggregate amount equal to the amount by which the Total annual Fund operating expenses (excluding certain items discussed below) for the Fund's Investor Class shares exceeds 1.55% of the average daily net assets attributable to the Fund's Investor Class shares. In determining Robeco's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account and could cause net Total Annual Fund Operating Expenses to exceed 1.55%: acquired fund fees and expenses, short sale dividend expenses, brokerage commissions, extraordinary items, interest or taxes. This contractual limitation is in effect until December 31, 2013 and may not be terminated without the approval of the Board of Directors of The RBB Fund, Inc. If at any time during the first three years the Fund's Advisory Agreement with Robeco is in effect, the Fund's Total annual Fund operating expenses for that year are less than 1.55%, Robeco is entitled to reimbursement by the Fund of the advisory fees waived and other payments remitted by Robeco to the Fund during such three-year period.
Example
This Example is intended to help you compare the cost of investing in the Fund
with the cost of investing in other mutual funds. The Example assumes that you
invest $10,000 in the Fund for the time periods indicated and that you sell all
of your shares at the end of the period. The Example also assumes that your
investment has a 5% return each year and that the operating expenses of the Fund
remain the same. Although your actual costs may be higher or lower, based on
these assumptions your costs would be:
Expense Example (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Robeco Boston Partners International Equity Fund Investor Class
158 998 1,854 4,070
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate may
indicate higher transaction costs and may result in higher taxes when Fund
shares are held in a taxable account. These costs, which are not reflected in
Total annual Fund operating expenses or in the Example, affect the Fund's
performance. During the fiscal year ended August 31, 2012, the portfolio
turnover rate for the Fund was 81%.
Summary of Principal Investment Strategies
The Fund pursues its objective by investing, under normal circumstances, at
least 80% of its net assets (including borrowings for investment purposes)
in a non-diversified portfolio of equity and equity-related securities issued
by non-U.S. companies of any capitalization size. The Fund may invest in all
types of equity and equity-related securities, including without limitation
exchange-traded and over-the-counter common and preferred stocks, warrants,
options, rights, convertible securities, sponsored and unsponsored depositary
receipts and shares, trust certificates, participatory notes, limited
partnership interests, shares of other investment companies (including
exchanged-traded funds ("ETFs")), real estate investment trusts ("REITs"), and
equity participations. An equity participation is a type of loan that gives the
lender a portion of equity ownership in a property, in addition to principal and
interest payments. A convertible security is a bond, debenture, note, preferred
stock or other security that may be converted into or exchanged for a prescribed
amount of common stock of the same or a different issuer within a particular
period of time at a specified price or formula.

The Fund defines non-U.S. companies as companies (i) that are organized under
the laws of a foreign country; (ii) whose principal trading market is in a
foreign country; or (iii) that have a majority of their assets, or that derive
a significant portion of their revenue or profits from businesses, investments
or sales, outside of the United States. The Fund principally will be invested
in issuers located in countries with developed securities markets, but may also
invest in issuers located in emerging markets.

The Fund generally invests in the equity securities of issuers believed by
Robeco to be undervalued in the marketplace, focusing on issuers that combine
attractive valuations with catalysts for change. Robeco applies a bottom-up
stock selection process (i.e., one that focuses primarily on issuer-specific
factors) in managing the Fund, using a combination of fundamental and
quantitative analysis. In selecting investments for the Fund, Robeco considers
various factors such as price-to-book value, price-to-sales and earnings ratios,
dividend yields, strength of management, and cash flow to identify securities
that are trading at a price that appears to be lower than the issuer's inherent
value.

Robeco will sell a stock when it no longer meets one or more investment criteria,
either through obtaining target value or due to an adverse change in fundamentals
or business momentum. Each holding has a target valuation established at purchase,
which Robeco constantly monitors and adjusts as appropriate.

The Fund may (but is not required to) invest in derivatives, including put and
call options, futures, forward contracts and swaps, in lieu of investing directly
in a security, currency or instrument, for hedging and non-hedging purposes.

The Fund may invest up to 15% of its net assets in illiquid securities, including
securities that are illiquid by virtue of the absence of a readily available market
or legal or contractual restrictions on resale.

The Fund may participate as a purchaser in initial public offerings of securities
("IPO"). An IPO is a company's first offering of stock to the public. The Fund may
also seek to increase its income by lending portfolio securities.

While Robeco intends to fully invest the Fund's assets at all times in accordance
with the above-mentioned policies, the Fund reserves the right to hold up to 100%
of its assets, as a temporary defensive measure, in cash and eligible U.S.
dollar-denominated money market instruments. Robeco will determine when market
conditions warrant temporary defensive measures.
Summary of Principal Risks
• Management Risk. The Fund is subject to the risk of poor stock selection. In
other words, the individual stocks in the Fund may not perform as well as
expected, and/or the Fund's portfolio management practices do not work to
achieve their desired result.

• Market Risk. The net asset value ("NAV") of the Fund will change with changes
in the market value of its portfolio positions. Investors may lose money.
Although the Fund will invest in stocks Robeco believes to be undervalued, there
is no guarantee that the prices of these stocks will not move even lower.

• Foreign Securities Risk. International investing is subject to special risks,
including, but not limited to, currency exchange rate volatility, political,
social or economic instability, and differences in taxation, auditing and other
financial practices. The Fund may invest in securities of foreign issuers either
directly or through depositary receipts. Depositary receipts may be available
through "sponsored" or "unsponsored" facilities. Holders of unsponsored
depositary receipts generally bear all of the costs of the unsponsored facility.
The depository of an unsponsored facility is frequently under no obligation to
distribute shareholder communications received from the issuer of the deposited
security or to pass through, to the holders of the receipts, voting rights with
respect to the deposited securities. The depository of unsponsored depositary
receipts may provide less information to receipt holders. Participatory notes
("P-notes") are equity access products structured as debt obligations and used
by investors to take positions in certain foreign securities. P-notes present
similar risks to investing directly in such securities and also expose investors
to counterparty risk.

• Emerging Markets Risk. Investment in emerging market securities involves
greater risk than that associated with investment in securities of issuers in
developed foreign countries. These risks include volatile currency exchange
rates, periods of high inflation, increased risk of default, greater social,
economic and political uncertainty and instability, less governmental
supervision and regulation of securities markets, weaker auditing and financial
reporting standards, lack of liquidity in the markets, and the significantly
smaller market capitalizations of emerging market issuers.

• Currency Risk. Investment in foreign securities also involves currency risk
associated with securities that trade or are denominated in currencies other
than the U.S. dollar and which may be affected by fluctuations in currency
exchange rates. An increase in the strength of the U.S. dollar relative to a
foreign currency may cause the U.S. dollar value of an investment in that
country to decline. Foreign currencies also are subject to risks caused by
inflation, interest rates, budget deficits and low savings rates, political
factors and government controls.

• Convertible Securities Risk. Securities that can be converted into common
stock, such as certain securities and preferred stock, are subject to the usual
risks associated with fixed income investments, such as interest rate risk and
credit risk. In addition, because they react to changes in the value of the
equity securities into which they will convert, convertible securities are also
subject to the risks associated with equity securities.

• Options Risk. An option is a type of derivative instrument that gives the
holder the right (but not the obligation) to buy (a "call") or sell (a "put")
an asset in the near future at an agreed upon price prior to the expiration
date of the option. The Fund may "cover" a call option by owning the security
underlying the option or through other means. The value of options can be
highly volatile, and their use can result in loss if Robeco is incorrect in
its expectation of price fluctuations.

• Derivatives Risk. The Fund's investments in derivative instruments, which
include futures and options on securities, securities indices or currencies,
options on these futures, forward foreign currency contracts and interest rate
or currency swaps, may be leveraged and result in losses exceeding the amounts
invested.

• REITs Risk. REITs may be affected by economic forces and other factors related
to the real estate industry. Investing in REITs may involve risks similar to
those associated with investing in small capitalization companies. REITs may
have limited financial resources, may trade less frequently and in a limited
volume and may be subject to more abrupt or erratic price movements than larger
company securities. Historically, small capitalization stocks, such as REITs,
have been more volatile in price than the larger capitalization stocks included
in the S&P 500® Index.

• Small/Mid-Cap Companies Risk. Investing in securities of companies with micro,
small or mid-sized capitalizations tends to be riskier than investing in
securities of companies with large capitalizations. Securities of companies with
micro, small and mid-sized capitalizations tend to be more volatile than those
of large cap companies and, on occasion, may fluctuate in the opposite direction
of large cap company securities or the broader stock market averages. The small
capitalization equity securities in which the Fund invests may be traded only in
the over-the-counter market or on a regional securities exchange, may be listed
only in the quotation service commonly known as the "pink sheets," and may not
be traded every day or in the volume typical of trading on a national securities
exchange. These securities may also be subject to wide fluctuations in market
value. The trading market for any given small capitalization equity security may
be sufficiently small as to make it difficult for the Fund to dispose of a
substantial block of such securities. Redemptions may require the Fund to sell
its small capitalization securities at a discount from market prices or during
periods when, in Robeco's judgment, such sale is not desirable. Moreover, the
lack of an efficient market for these securities may make them difficult to
value.

• Securities Lending Risk. The Fund may lend portfolio securities to institutions,
such as certain broker-dealers. The Fund may experience a loss or delay in the
recovery of its securities if the borrowing institution breaches its agreement
with the Fund.

• Exchange Traded Fund Risk. Exchange traded funds ("ETFs") are a type of
investment company bought and sold on a securities exchange. An ETF represents a
fixed portfolio of securities designed to track a particular market index. The
risks of owning an ETF generally reflect the risks of owning the underlying
securities that they are designed to track, although lack of liquidity in an ETF
could result in its being more volatile. The Fund may incur brokerage fees in
connection with its purchase of ETF shares.

• Illiquid Securities Risk. Investing in illiquid securities is subject to
certain risks, such as limitations on resale and uncertainty in determining
valuation. Limitations on resale may adversely affect the marketability of
portfolio securities and the Fund might be unable to dispose of restricted or
other illiquid securities promptly or at reasonable prices and might thereby
experience difficulty satisfying redemptions within seven days. The Fund might,
in order to dispose of restricted securities, have to register securities
resulting in additional expense and delay. Adverse market conditions could
impede such a public offering of such securities.

• IPO Risk. IPO risk is the risk that the market value of IPO shares will
fluctuate considerably due to certain factors, such as the absence of a prior
public market, unseasoned trading, the small number of shares available for
trading and limited information about the issuer. The purchase of IPO shares
may involve high transaction costs. IPO shares are subject to market risk and
liquidity risk. When the Fund's asset base is small, a significant portion of
the Fund's performance could be attributable to investments in IPOs, because
such investments would have a magnified impact on the Fund. As the Fund's assets
grow, the effect of the Fund's investments in IPOs on the Fund's performance
probably will decline, which could reduce the Fund's performance. Because of the
price volatility of IPO shares, the Fund may choose to hold IPO shares for a
very short period of time. This may increase the turnover of the Fund's
portfolio and may lead to increased expenses to the Fund, such as commissions
and transaction costs. In addition, Robeco cannot guarantee continued access to
IPOs.

• Non-Diversification Risk. The Fund is non-diversified. Compared to other
funds, the Fund may invest more of its assets in a smaller number of companies.
Gains or losses on a single stock may have greater impact on the Fund.
Performance Information
No performance information is available for the Fund because it has not yet been
in operation for a full calendar year. The performance information, when available,
will provide some indication of the risks of investing in the Fund. The Fund intends
to evaluate its performance as compared to that of the MSCI® EAFE Index. Updated
performance information will be available at www.robecoinvest.com or 1-888-261-4073.