Charity Desk
New sustainable investments launched by Robeco and Sarasin
On 18 May 2010, Robeco introduced its first sustainable fixed-income product: Robeco Euro
Sustainable Credits, which focuses on the selection of leading enterprises in the area of
sustainability and follows the main sector trends in environment, society and good governance.
In June 2010, SAM Private Equity closed the first subscription for the third-generation Clean
Tech Private Equity Fund, at USD 200 million. Robeco SAM Clean Tech Private Equity III is a
hybrid private equity fund that invests in leading global cleantech funds.
In the year under review, Sarasin added several products to its sustainable services: the
Sarasin Sustainable Equity - Global Emerging Markets Fund and the Sarasin Sustainable Equity -
USA Fund.
SAM wins Sustainable Investment Manager Award
In the year under review, SAM won the SRI/Sustainable Investment Manager of the Year Award
at the annual presentation of the Awards for Excellence in Institutional Asset Management -
Europe 2010.
The Charity Desk, which was introduced in 2008, is proving to be highly successful among high
net-worth clients. The Charity Desk helps these clients achieve their social ambitions. It advises
on the fiscal and financial aspects of donating to good causes. It also makes expertise available
from Rabobank's network, such as the Rabobank Foundation, the Bank's own social fund, that
has been engaged in providing micro credits for many years.
Growth in assets managed due to currency effects and positive cash flows
Assets managed and held in custody for clients grew to EUR 270.4 (230.4) billion in 2010 as a
result of currency effects, the inflow of assets at Sarasin and an upward stock exchange trend.
Due in part to anticipated low returns on bonds, more clients opted for investments in equities
with expected higher returns. Assets managed and held in custody can be broken down as
follows among Rabobank Group's subsidiaries:
- Robeco: EUR 149.6 (134.9) billion;
- Sarasin: EUR 82.5 (63.1) billion;
- Schretlen Co: EUR 8.4 (7.3) billion;
- Rabo Real Estate Group: EUR 7.2 (7.0) billion.
The remainder of clients' assets is held by local Rabobanks. Total inflow of assets amounted to
EUR 9.7 billion, which was entirely attributable to Sarasin. As a result of its strategic choices
in 2010, Robeco saw an outflow of EUR 3.4 billion, which mainly involved institutional assets
under management. After their global recovery in 2009, the stock markets continued their
upward trend in 2010, although on a more moderate scale. The lower interest rates had a
beneficial effect on returns on investments in fixed-income funds. These trends resulted in an
increase in investment returns to EUR 15.3 (34.0) billion. The appreciation against the euro of
the US dollar and the Swiss franc resulted in a EUR 16.5 billion increase in managed assets.
Changes in assets under
management and held in
custody for clients
in billions of euros
280
270
±1 <u
=5
a) O
Assets under management and
held in custody for clients by
asset category at year-end 2010
Equities
Fixed income
Mixed
Money market
Alternatives
Real estate
Other
45
Asset management
