Asset management and investment
Cash flows in 2009 for Robeco, Sarasin and Schretlen Co totalled
EUR 15.8 billion. Clients' equity investments benefited from the recovery
in the stock markets after the disastrous investment year 2008. In asset
management operations, assets under management and held in custody
for clients increased by 25% to EUR 230.4 billion due to the inflow of assets
and positive investment returns. Net profit amounted to EUR 13 million,
against EUR 162 million in 2008, not including the gain from the sale of
Alex. The decline in profit was mainly due to lower performance-related
commission fees at Robeco's subsidiary Transtrend. Also, interest income
was lower as a result of fierce competition in the Dutch savings market.
For Robeco, a cost reduction programme initiated in 2008 resulted in
lower costs and an outflow of staff. Sustainability was introduced further
into the investment product range. Although Sarasin opened several offices
in Europe and Asia, it slowed down its international strategy for growth in
terms of hiring additional client relationship managers. Robeco expanded
its operations in Asia.
Strategy for asset management and investment
www.robeco.com,www.sarasin.com,www.schretlen.com
Cash flow and investment return both positive
Assets under management and held in custody up 25% to EUR 230.4 billion
- Cash flow of EUR 15.8 billion
- Investment return of EUR 34.0 billion
Net profit at EUR 13 million
Share in Rabobank Group's
net profit for 2009
Asset management
and investment 1%
Rabobank Group strategy
Contribution to group strategy
All-finance market leadership
in the Netherlands
- Offering, through various distribution channels, broad access to investment funds and
asset management services to clients of every kind
- Robeco operating in the Dutch savings market
International food and agri bank
- Offering products in the areas of sustainability and clean technology
Asset managers Robeco, Sarasin and Schretlen Co offer high-quality services to investors
of every kind. The range of innovative products and services will be further broadened and
deepened. Both the distribution network and the institutional sales and asset management
32
Report 2009 Rabobank Group
