Impairment losses EUR 42 million
The turbulence in the financial markets resulted at Sarasin in a few write-offs on financial institutions.
As a result, the item 'value adjustments' increased by EUR 41 million to EUR 42 (1) million.
Outlook
The decrease in assets under management in 2008 is expected to have a negative impact on the
development of asset management fees in 2009.
It is anticipated that Robeco's efforts towards more cost-efficient operations will entail further staff
reductions. To Robeco, a strong investment performance remains a key element. It intends to reach
more clients by expanding its distribution network. In addition, Robeco aims to attract new clients
by developing innovative investment products and services. Robeco believes that sustainable and
responsible investments will gain importance and for that reason, it will expand its services in this
area even further. Also, it will selectively expand its Asian presence.
Sarasin will continue the development of its growth initiatives. It will expand its position in its present
markets and will start activities in the Netherlands and selected Central European markets, as a result of
which a larger proportion of its income should come from countries outside Switzerland.
Schretlen Co intends to grow its customer base by anticipating even better on the wishes of high
net-worth clients. It will intensify and improve its collaboration with the local Rabobanks further, while
increasing its efforts focused on non-Rabobank clients.
44
Rabobank Group Annual Report 2008
