Henk Grootveld, Executive Vice President, is head of the Trends Investing Equity team. He is manager of Robeco Global Growth Trends since November 2013 and manager of Rolinco since 2009. Henk Grootveld joined Robeco in 2001 and has been head of the Financials team, head of the European team, head of the Consumer Staples team and a member of the North American Equities team. Prior to joining Robeco, Mr. Grootveld was employed by Aegon Asset Management as a portfolio manager European Equities and at ING Barings as an equity strategist. Henk holds a Master¿s degree in Operation Research/ Econometrics From Erasmus University in Rotterdam. Marco van Lent is a member of the Robeco Trends Investing Equity team since December 2010 and since November 2013 portfolio manager of Robeco Global Growth Trends/ Rolinco. Before that he was portfolio manager of Robeco Infrastructure Equities. He joined Robeco in October 2007 to co-manage two European equity funds. He started his investment career in 1985 as a sell-side analyst/strategist. In 1996, he became a portfolio manager at Van Spaendonck Asset Management. This was followed by a position as senior portfolio manager European equities at Philips Investment Management in 1999. Using the high-conviction investment strategy which he had co-developed at Philips Investment Management, he moved on to Van Lanschot Asset Management to manage the Van Lanschot European Equity Fund. After the acquisition of Kempen Capital Management by Van Lanschot, he worked at Kempen Capital Management for 6 months to manage European equity mandates. Marco holds a Master¿s degree in Business Economics and Finance from Tilburg University.
In a world full of uncertainty and low GDP growth potential our aim is to invest in the scarce companies that are able to grow top line and cash flow. Our approach to find these quality companies is to focus on 3-4 long term growth trends that are of secular nature. For instance the digitalization trend and new production technologies are already changing the way we are working and living. In the aging society we are living in, our health is the key asset to possess. Rolinco wants to deliver excellent investment returns by selecting 50-70 quality companies that benefit from these secular growth trends.
It is difficult to say whether the recent change in factor performance, favoring value, is temporary or more persistent. But we continue to believe that we have seen the bottom in global GDP growth and expect modest growth in 2014. Stocks benefiting from the cyclical upturn are attractively valued in a historical context. We believe that we have already started a new era where, thanks to digitization and new technologies, labor productivity will increase sustainably. Stocks that provide the tools and technology to do this will grow their revenues and cash flows much faster than any analyst dares to write down. We believe that a combination of cheap cyclical growth stocks and underestimated structural growth stocks is ideal and will lead to substantial investment performance.