IRIS - QUALITY RESEARCH AND ANALYSIS IN THE BANK WHAT'S NewS Issue 12 December 1996 Robeco special 9 offering which is easy to onderstand and h'ery easy to monitor. Our funds are listed xm stock exchanges around the world, so the cliënt can keep abreast of what is happening with his or her investment. Actually, you could call it private banking at a distance, not least because our funds tend to be longer-term products, so there is no need tor continual calls suggesting buys or sells. Many clients see that as an asset.' INSTITUTIONAL DRIVE But Switzerland's activities are not only concentrated on the private investor. The team's second area of focus is institutionals. 'In that respect we are following France's development and an enhanced drive by our people in Rotterdam who are pushing strongly into this market. In early 1995, we set up a dedicated institutional service which is ^pecifically geared to the Swiss market. This includes pension funds, insurance companies. In other words, those institutions which manage funds on behalf of clients. This playing field is wide open here in Switzerland, not least because a change in pension legislation in the mid- 1980s led to the creation of a corpora te pension market. This has become an enourmous segment in investment and asset management business in this country - over SFR 300 billion. Obviously, we work closely with our colleagues in Rotterdam in every area. But I would go so far as to say that our links with institutional colleagues in Rotterdam are perhaps even stronger. I'm happy to report that we have grown that business, we have won Swiss clients and our long-term ^rospects look very good indeed.' RELATIONSHIP FOCUS Among the reasons for this success is - again - that basic Robeco philosophy - a clear product offering. 'Institutionals are also bombarded with literature and with ever-more competitive offers from just about everybody,' Kilp says. 'Our approach has very definitely been relationship-oriented. We're not running around with sales books. But rather, we try to understand cliënt needs. In this business, whether you're serving private or institutional clients, you must have and demonstrate long-term commitment. Obviously, the Robeco name is very important because we have quite some reputation and also the solid foundation of the expertise in Rotterdam that is increasingly recognized in this business. I think our ongoing growth in a highly competitive market shows that.' GROWING BUSINESS While Rotterdams support role for its network is clearly of major significance, it shouldn't be forgotten that it is from the head-office that all the Robeco funds are managed. It is the hub, the nerve centre of Robeco and the place where strategies for the further development of the Group are defined. Over the next few years, Robeco is looking to doublé its assets under management and the institutional department in Rotterdam has an ambitious role to play in achieving that result. 'You IRIS, which serves both Robeco and Rabobank, is made up of four departments - asset management, marketing and support for local Rabobanks, product will have heard we are moving strongly into Swiss and French institutional markets,' says Peter Budde, head of business development. 'At present, around one-third of our overall business is institutional. We want to grow that share significantly and the first step is an enhanced professionalization of our team. Currently, the bulk of our institutional clients is Dutch - that's not really surprising, considering that this is the fourth largest market world wide so this market is enormous. But we certainly want to expand, also internationally. Yet, I would say we see this as a long-term venture.' OPEN OPTIONS By long-term, Robeco appears to mean they will take the time necessary to develop sound relationships with institutional investors, not only in the Netherlands, but increasingly in the developed world. 'There is a clear trend towards massive growth in private pension and social security products in the mature world,' says Budde. 'And the developing world will be catching up on that trend. Essentially, as our investment and asset management approach is by definition long-term, this is clearly a very attractive market for us. We're in the process of developing a strategy for the millenium. Institutionals are obviously one potential growth area, but we're also looking for expansion in retail or private clients and on the domestic market here - in fact, all our options are wide open.' development, and research. The latter, research and its related units, is probably of most practical interest to Rabobank International staff. 'IRIS has been carrying It is hard to avoid the 'marriage' metaphor, especially when you look at the joint venture, the Institute for Research and Investment Services, IRIS, established by Robeco and Rabobank in 1990. You could say that after a fairly long engagement, both are more than satisfied with this special relationship and are looking to do even more together in this field. DE ROBECO INTERNATIONALS Het kantoor in Parijs, onder leiding van Gilbert Hardy, heeft speciale producten ontwikkeld voor de Franse markt, ook op het k gebied van levensverzekeringen en pensioenen worden producten aangeboden. Het kantoor behaalt slechts 20% van de Rikomsten met de Robecofondsen die ook in Nederland worden aangeboden. In Genève en Luxemburg, een dochter van Robeco Bank Genève, hanteert men uiteraard ook het'Robeco-systeem'. De aangeboden fondsen staan wereldwijd op de beurzen genoteerd. Volgens general manager Wilfried Kilp stelt dit de klanten in staat om op eenvoudige wijze hun beleggingen in de gaten te houden. De kantoren richten zich niet alleen op particulieren, maar ook op institutionele beleggers. Een snel groeiende markt die grote perspectieven biedt.

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