Asset management and investment
Strategy and targets
Net profit: strong performance with limited cash flow
In 2007, Rabobank Group's asset management activities - Robeco, Sarasin,
Schretlen Co and Alex - realised a 62% increase in net profit, to EUR 362
(223) million. This favourable development was the result of the expansion of
the Group's interests in Sarasin and in Transtrend, in combination with the
divestments by Sarasin and the strong investment performance of Transtrend's
Diversified Trend Program.
Besides the expansion of the Group's interest in Transtrend to 100%, Robeco
acquired a 64% interest in the Sustainable Asset Management Group, another
leading Swiss-based global player in sustainable investments besides Sarasin.
Alex is sold to BinckBank and as from 2008 ceased to be part of Rabobank Group.
In 2007, the inflow of assets at Sarasin and the positive investment results
made together an important contribution to the 6% growth, to EUR 232 (219)
billion, in assets managed and held in custody for clients.
Share in Rabobank Group's net profit
in
Asset management
and investment
14%
Rabobank Group's asset management and investment activities are
handled by Robeco, an asset manager with global operations, as
well as by the Swiss private bank Sarasin and by Schretlen Co,
the Dutch private bank for high net-worth clients. Rabobank
Group has a 46% shareholding in Sarasin and a voting share of
69%. From 2008, Alex has ceased to be part of Rabobank Group,
after its sale to BinckBank. In all, more than 3,600 people are
employed in Rabobank Group's asset management and investment
activities. Total assets managed and held in custody for clients
amounted to EUR 232 billion.
www.robeco.com
www.sarasin.com
www.schretlen.com
Assets managed and held in custody up 6% to EUR 232 billion
- Cash flow EUR 7 billion
- Investment performance of Robeco fixed income funds under pressure
Number of orders handled in the Netherlands up 8% to 8.2 million
Net profit up 62% to EUR 362 million
- Income up 77% to EUR 1,479 million
- Operating expenses up 80% to EUR 991 million
- To offer high-quality services to all categories of investment clients.
- To strengthen Rabobank Group's position in the market for high net-worth individuals
and institutional investors, pension funds in particular.
- To maintain and grow the positions in the Netherlands and Switzerland, with selective
expansion elsewhere of the distribution network and the institutional sale and asset
management activities, based in part on a sound strategy for international growth.
- To broaden and improve the range of innovative products and services.
- Annual net profit growth of 10 to 15%.
57
Report of the Executive Board
