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Robeco Group delivers strong results in first half of 2012

14-08-2012 | Press release

Rotterdam, 14 August 2012 - Robeco Group announces strong results for the first half of 2012.  Net cash inflows were EUR 17bn and assets under management (AUM) increased to EUR 179bn at 30 June 2012.

Highlights:

  • Net cash inflows of EUR 17bn (EUR 7.6bn for the entire year 2011)
  • AUM grew to EUR 179bn at 30 June 2012 (EUR 150bn at the end of 2011)
  • Net profit of EUR 97m (first half year 2011: EUR 105m) 
  • Institutional assets under management increased to 51% of total AUM at 30 June 2012 
  • EUR 44bn of assets under engagement at 30 June 2012 (first half year 2011: EUR43bn)
  • Total average excess return on all capabilities of 1.15% (gross of fees) for the first half year.
  • 68% of the assets have outperformed their benchmarks in the first half of 2012.

Commenting on the half year results, Roderick Munsters, Chief Executive Officer of Robeco Group said:

 “Underpinned by an excellent first quarter, I am pleased to announce a strong first half of 2012, with good visibility of future inflows for the second half. The 19% growth in assets under management in the first half of 2012 is supported by a combination of significant net cash inflows and strong investment performance, giving us confidence in this period in which Robeco is working closely with Rabobank on the strategic review of the business.

Good progress has been made in delivery of Robeco's 2010-2014 strategic plan. Our focus remains on generating outstanding returns for our clients, building our institutional client base and securing a strong reputation for our pensions offering.

 Looking forward, Robeco’s pensions offering is well positioned to benefit from the opportunity in selected European pension markets. DNB licensed Robeco to run a PPI (“Premie Pensioen Instelling”) which is geared to expansion in Europe. 

Robeco continues to leverage SAM's 17 year track record to capture future market potential and achieve a leadership position in the field of sustainability investing, with SAM offering unique insight and connections to the Fortune 500 CEO level.

Robeco’s strong presence in emerging markets provides significant future assets inflow potential. Canara-Robeco is ideally positioned to benefit from future growth in India and Robeco has direct access to key Asia-Pacific markets. Robeco recently opened an office in Sydney, Australia, focusing on driving institutional sales to Australia's domestic asset management industry. From a new office in Miami, Robeco will further strengthen its presence in key markets in Latin America.” 
 
Assets under management

Assets under management grew to EUR 179bn at 30 June 2012, having been EUR 150bn at the end of 2011. Net cash inflow from institutional clients was strong, deriving particularly from the Netherlands and increasing the proportion of institutional assets to Robeco’s total assets under management to 51% from 46% in the first half of 2011. 
Total cash inflow in the first half year was EUR 17bn, with major contributions coming from the Netherlands, as well as Harbor and Robeco Investment Management in the USA.

In April 2012, Robeco launched a Conservative Credits capability, seeking to benefit from a low-risk anomaly in corporate bond markets, and adding to its existing suite of Conservative Equity products. Conservative Credits is currently only offered via mandates and has already seen inflows of EUR 1.65bn across multiple clients.

Investment performance

Positive investment results were realized during the first half of 2012. Robeco achieved total average excess returns on all capabilities of 1.15% (gross of fees) over the first half of 2012; while 68% of assets outperformed their benchmark. The 3-year average excess return as of 30 June 2012 is 1.26% with 63% of assets outperforming (July 2009-June 2012). All asset classes contributed positively to these results.  Absolute returns are also positive throughout the product range.

Sustainability investing

As a pioneer in sustainability investing Robeco integrates environmental, social and governance factors into its investment processes. Assets under Engagement (AUE) comprise the activities related to voting at shareholders meetings and / or dialogues with companies worldwide. This strategy continues to be effective. The AUE increased to EUR 44bn in the first half year of 2012 from EUR 43bn in the first half year of 2011. 
 
Robeco France

Following the announcement of 6 February 2012, Robeco has transformed its French subsidiary, Robeco Gestions, into a sales office as of 1 July, fully dedicated to the distribution of funds and Robeco’s expertise to the French market.

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