Robeco
Encyclopedia
Robeco is a Dutch asset management firm founded in 1929 as the Rotterdamsch Beleggings Consortium (Rotterdam Investment Consortium). By year end 2009, the company had over € 130 billion of assets under management
. It was acquired in 2001 by the Rabobank Groep
.
Robeco offers assets management services to both institutional
and private investors. The funds
for private investors are available through Robeco itself and other financial institutions, a number of these funds are also listed on major European stock exchange
s. Since 1981 the company also offers savings account
s through its own savings bank
Roparco.
by heavily investing in United States.
1940-1945 On the eve of WWII, almost half of the portfolio is invested in the US. As a result, Robeco’s assets increase by almost 90% between 1939 and 1946.
1953 Robeco introduces a share-saving system, allowing people of more modest means to save up for Robeco shares.
1959 New listings in Paris (1959), Brussels (1960), London (1962) and numerous other European financial centers. Listings are also obtained in Hong Kong (1971) and Tokyo (1976).
1963 Robeco is one of the first foreign investors to enter the Japanese stock market.
1965 Foundation of Rolinco, a second mutual fund, for investors more interested in capital growth than taxable dividend.
1969 Robeco has become the largest mutual fund in Europe.
1974 Foundation of Rorento, Robeco’s first bond fund, as an answer to the oil crisis in 1973.
1980s Robeco opens offices in various European countries, including France, Luxembourg and Switzerland.
1981 The company opens its own savings bank
Roparco.
1990s The company continued its international strategy in the 1990s by acquiring a number of US based firms.
1990 The company starts a close cooperation with the Rabobank
, which would eventually lead to the takeover of Robeco by the Rabobank in 2001.
1999 Introduction of Robeco DuurzaamAandelen [Sustainable Equities], the first sustainable equity fund launched by a Dutch mainstream asset manager.
2000 Robeco North America acquires Urban Shopping Centers
2002 Robeco North America sells all of its Urban Shopping Center investments
2002 Robeco acquires a 60% interest in Boston Partners Asset Management, a value-equity manager based in Boston. The remaining shares are acquired in 2003.
2002 Robeco acquires a 49% interest in Transtrend, a Rotterdam-based managed-futures trader with a track record going back to 1990. The remaining shares are acquired in 2007.
2004 Introduction of Robeco Sustainable Private Equity, the first sustainable private-equity fund of funds in the world, developed in cooperation with Rabobank.
2006 Introduction of Robeco Clean Tech Private Equity II, an investment program aimed at clean-tech private-equity funds and co-investments, developed in cooperation with Rabobank.
2006 Robeco signs the United Nations’ Principles for Responsible Investment.
2006 Robeco joins the Enhanced Analytics Initiative, a group of international asset owners and asset managers who work together to encourage investment research that considers the impact of extra-financial issues on long-term company performance.
2006 Acquisition of a 64% stake in Swiss based Sustainable Asset Management. SAM Group and Robeco join forces to launch the global number-1 platform for sustainability investments.
2007 For the Belgian market, Robeco decides to focus on third-party distribution; Robeco Bank Belgium is sold to Kaupthing Bank Luxembourg.
The development of the amount of asset under management (AuM) was as follows:
over the period 2004-2006, beating the benchmark on average with 0.89%. However performance was weaker over 2006 than it was over 2004 and 2005. The bonds managed by Robeco performed below the benchmark, however.
The Netherlands International headquarters; Robeco Asset Management; Robeco Alternative Investments; Robeco Direct; IRIS; Transtrend (all in Rotterdam
)
Australia
SAM Group (Sydney
)
Bahrain
Robeco Middle East (Bahrain)
Belgium
Robeco Belgium (Brussels
)
China
Robeco Greater China and South East Asia (Hong Kong
); representative office in Shanghai
France
Robeco France (Paris
)
Germany
Robeco Germany (Frankfurt
)
India
Canara Robeco Asset Management (Mumbai)
Japan
Robeco Japan clients (Tokyo
)
Luxembourg
Robeco Belgium and Luxembourg (Luxembourg
)
Spain
Robeco Spain (Madrid
)
Switzerland
Robeco Switzerland (Zurich
); SAM Group (Zurich); Corestone Investment Managers (Zug
)
UK Robeco Sage (London
)
USA Robeco Investment Management (New York
, Boston
, Greenbrae, Honolulu, Los Angeles
, San Francisco); Harbor Capital Advisors (Chicago
and Boston); SAM Group (New York)
on the corner of the Coolsingel
and Blaak. The building was designed by the architect Wim Quist and was completed in 1992. The building is clad in a polish black granite, which, according to some, gives it a strict and formal appearance , while others call it a "doodsquist" (a pun combining the Dutch word for coffin
and the name of the architect). The building was designed to house approximately 700 employees.
Assets under management
Assets under management is a financial term used denote the market value of funds being managed by a financial instutition on behalf of its clients, investors, depositors, etc. This metric is a sign of size and success against competition...
. It was acquired in 2001 by the Rabobank Groep
Rabobank
Rabobank is a financial services provider with offices worldwide. Their main location is in the Netherlands. They are a global leader in Food and Agri financing and in sustainability-oriented banking...
.
Robeco offers assets management services to both institutional
Institutional investor
Institutional investors are organizations which pool large sums of money and invest those sums in securities, real property and other investment assets...
and private investors. The funds
Collective investment scheme
A collective investment scheme is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group...
for private investors are available through Robeco itself and other financial institutions, a number of these funds are also listed on major European stock exchange
Stock exchange
A stock exchange is an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and...
s. Since 1981 the company also offers savings account
Savings account
Savings accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money . These accounts let customers set aside a portion of their liquid assets while earning a monetary return...
s through its own savings bank
Savings bank
A savings bank is a financial institution whose primary purpose is accepting savings deposits. It may also perform some other functions.In Europe, savings banks originated in the 19th or sometimes even the 18th century. Their original objective was to provide easily accessible savings products to...
Roparco.
History
1929 A group of prominent businessmen from Rotterdam founded the Rotterdamsch Beleggings Consortium (Rotterdam Investment Consortium) and the Robeco fund. The portfolio is diversified globally over the Netherlands, other European countries, North and South America, and the Dutch East Indies. The company had a startup capital of almost 2 million guilders, but by mid-1932 less than half was left. But the company managed to survive the 1930s and managed to grow during World War IIWorld War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
by heavily investing in United States.
1940-1945 On the eve of WWII, almost half of the portfolio is invested in the US. As a result, Robeco’s assets increase by almost 90% between 1939 and 1946.
1953 Robeco introduces a share-saving system, allowing people of more modest means to save up for Robeco shares.
1959 New listings in Paris (1959), Brussels (1960), London (1962) and numerous other European financial centers. Listings are also obtained in Hong Kong (1971) and Tokyo (1976).
1963 Robeco is one of the first foreign investors to enter the Japanese stock market.
1965 Foundation of Rolinco, a second mutual fund, for investors more interested in capital growth than taxable dividend.
1969 Robeco has become the largest mutual fund in Europe.
1974 Foundation of Rorento, Robeco’s first bond fund, as an answer to the oil crisis in 1973.
1980s Robeco opens offices in various European countries, including France, Luxembourg and Switzerland.
1981 The company opens its own savings bank
Savings bank
A savings bank is a financial institution whose primary purpose is accepting savings deposits. It may also perform some other functions.In Europe, savings banks originated in the 19th or sometimes even the 18th century. Their original objective was to provide easily accessible savings products to...
Roparco.
1990s The company continued its international strategy in the 1990s by acquiring a number of US based firms.
1990 The company starts a close cooperation with the Rabobank
Rabobank
Rabobank is a financial services provider with offices worldwide. Their main location is in the Netherlands. They are a global leader in Food and Agri financing and in sustainability-oriented banking...
, which would eventually lead to the takeover of Robeco by the Rabobank in 2001.
1999 Introduction of Robeco DuurzaamAandelen [Sustainable Equities], the first sustainable equity fund launched by a Dutch mainstream asset manager.
2000 Robeco North America acquires Urban Shopping Centers
2002 Robeco North America sells all of its Urban Shopping Center investments
2002 Robeco acquires a 60% interest in Boston Partners Asset Management, a value-equity manager based in Boston. The remaining shares are acquired in 2003.
2002 Robeco acquires a 49% interest in Transtrend, a Rotterdam-based managed-futures trader with a track record going back to 1990. The remaining shares are acquired in 2007.
2004 Introduction of Robeco Sustainable Private Equity, the first sustainable private-equity fund of funds in the world, developed in cooperation with Rabobank.
2006 Introduction of Robeco Clean Tech Private Equity II, an investment program aimed at clean-tech private-equity funds and co-investments, developed in cooperation with Rabobank.
2006 Robeco signs the United Nations’ Principles for Responsible Investment.
2006 Robeco joins the Enhanced Analytics Initiative, a group of international asset owners and asset managers who work together to encourage investment research that considers the impact of extra-financial issues on long-term company performance.
2006 Acquisition of a 64% stake in Swiss based Sustainable Asset Management. SAM Group and Robeco join forces to launch the global number-1 platform for sustainability investments.
2007 For the Belgian market, Robeco decides to focus on third-party distribution; Robeco Bank Belgium is sold to Kaupthing Bank Luxembourg.
The development of the amount of asset under management (AuM) was as follows:
| Year | AuM (in € m) |
|---|---|
| 24 March 1934 | 0.5 |
| 1939 | 6.8 |
| 1949 | 20.9 |
| 1959 | 248.2 |
| 1969 | 2,030 |
| 1978 | 4,629 |
| 1 July 1987 | 15,880 |
| 1999 | 85,400 |
| 2008 | 110,700 |
| 2009 | 134,900 |
Performance
The stocks managed by Robeco performed better than the benchmarkBenchmarking
Benchmarking is the process of comparing one's business processes and performance metrics to industry bests and/or best practices from other industries. Dimensions typically measured are quality, time and cost...
over the period 2004-2006, beating the benchmark on average with 0.89%. However performance was weaker over 2006 than it was over 2004 and 2005. The bonds managed by Robeco performed below the benchmark, however.
Global presence
Robeco currently has activities in the following countries;The Netherlands International headquarters; Robeco Asset Management; Robeco Alternative Investments; Robeco Direct; IRIS; Transtrend (all in Rotterdam
Rotterdam
Rotterdam is the second-largest city in the Netherlands and one of the largest ports in the world. Starting as a dam on the Rotte river, Rotterdam has grown into a major international commercial centre...
)
Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
SAM Group (Sydney
Sydney
Sydney is the most populous city in Australia and the state capital of New South Wales. Sydney is located on Australia's south-east coast of the Tasman Sea. As of June 2010, the greater metropolitan area had an approximate population of 4.6 million people...
)
Bahrain
Bahrain
' , officially the Kingdom of Bahrain , is a small island state near the western shores of the Persian Gulf. It is ruled by the Al Khalifa royal family. The population in 2010 stood at 1,214,705, including 235,108 non-nationals. Formerly an emirate, Bahrain was declared a kingdom in 2002.Bahrain is...
Robeco Middle East (Bahrain)
Belgium
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
Robeco Belgium (Brussels
Brussels
Brussels , officially the Brussels Region or Brussels-Capital Region , is the capital of Belgium and the de facto capital of the European Union...
)
China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
Robeco Greater China and South East Asia (Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
); representative office in Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
Robeco France (Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
)
Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
Robeco Germany (Frankfurt
Frankfurt
Frankfurt am Main , commonly known simply as Frankfurt, is the largest city in the German state of Hesse and the fifth-largest city in Germany, with a 2010 population of 688,249. The urban area had an estimated population of 2,300,000 in 2010...
)
India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
Canara Robeco Asset Management (Mumbai)
Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
Robeco Japan clients (Tokyo
Tokyo
, ; officially , is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of Japan. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family...
)
Luxembourg
Luxembourg
Luxembourg , officially the Grand Duchy of Luxembourg , is a landlocked country in western Europe, bordered by Belgium, France, and Germany. It has two principal regions: the Oesling in the North as part of the Ardennes massif, and the Gutland in the south...
Robeco Belgium and Luxembourg (Luxembourg
Luxembourg
Luxembourg , officially the Grand Duchy of Luxembourg , is a landlocked country in western Europe, bordered by Belgium, France, and Germany. It has two principal regions: the Oesling in the North as part of the Ardennes massif, and the Gutland in the south...
)
Spain
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
Robeco Spain (Madrid
Madrid
Madrid is the capital and largest city of Spain. The population of the city is roughly 3.3 million and the entire population of the Madrid metropolitan area is calculated to be 6.271 million. It is the third largest city in the European Union, after London and Berlin, and its metropolitan...
)
Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
Robeco Switzerland (Zurich
Zürich
Zurich is the largest city in Switzerland and the capital of the canton of Zurich. It is located in central Switzerland at the northwestern tip of Lake Zurich...
); SAM Group (Zurich); Corestone Investment Managers (Zug
Zug
Zug , is a German-speaking city in Switzerland. The name ‘Zug’ originates from fishing vocabulary; in the Middle Ages it referred to the right to ‘pull up’ fishing nets and hence to the right to fish.The city of Zug is located in the Canton of Zug and is its capital...
)
UK Robeco Sage (London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
)
USA Robeco Investment Management (New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
, Boston
Boston
Boston is the capital of and largest city in Massachusetts, and is one of the oldest cities in the United States. The largest city in New England, Boston is regarded as the unofficial "Capital of New England" for its economic and cultural impact on the entire New England region. The city proper had...
, Greenbrae, Honolulu, Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
, San Francisco); Harbor Capital Advisors (Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
and Boston); SAM Group (New York)
Headquarters
Robeco is currently headquartered in the 95 meter tall Robeco toren in RotterdamRotterdam
Rotterdam is the second-largest city in the Netherlands and one of the largest ports in the world. Starting as a dam on the Rotte river, Rotterdam has grown into a major international commercial centre...
on the corner of the Coolsingel
Coolsingel
Coolsingel is one of the best known streets in Rotterdam. The street leads from the Hofplein to the Churchillplein. The Rotterdam City Hall and the Beurs-World Trade Center are located on the Coolsingel.-External links: at Engelfriet.net...
and Blaak. The building was designed by the architect Wim Quist and was completed in 1992. The building is clad in a polish black granite, which, according to some, gives it a strict and formal appearance , while others call it a "doodsquist" (a pun combining the Dutch word for coffin
Coffin
A coffin is a funerary box used in the display and containment of dead people – either for burial or cremation.Contemporary North American English makes a distinction between "coffin", which is generally understood to denote a funerary box having six sides in plan view, and "casket", which...
and the name of the architect). The building was designed to house approximately 700 employees.