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Responsible investment at Robeco
Responsible investment at Robeco
Developments in responsible investment and responsible business practices
Exclusion policy
Strong increase in assets managed by Robeco
achieved good returns in general. Overall, 69%18 of Robeco's managed assets outperformed
the benchmark for 2012; the three-year historical figure was 64%. The table below shows the
returns delivered by Robeco's main funds in 2012 and compares them to the benchmarks.
Fund
Return
Benchmark
Managed assets
(in billions)
Harbor International
21.8%
17.3%
USD 39.0
Harbor Capital Appreciation
16.4%
15.3%
USD 17.0
Harbor Bond
9.9%
4.2%
USD 7.9
Transtrend Enhanced Risk USD
0.7%
USD 6.8
Robeco US Premium Equities
15.8%
17.5%
USD 5.3
Robeco
16.8%
14.7%
EUR 4.1
Robeco High Yield Bonds
18.2%
16.1%
EUR 3.2
Robeco Lux-o-rente
3.2%
4.1
EUR 2.7
Robeco Emerging Markets Equities
16.3%
16.4%
EUR 2.2
Robeco All Strategy Euro Bonds
12.7%
11.2%
EUR 1.8
Rorento
10.0%
6.0%
EUR 1.6
Rolinco
17.2%
14.3%
EUR 0.6
SAM Sustainable Water
21.0%
14.0%
EUR 0.6
Robeco endeavours to pursue a responsible investment policy based on good governance,
corporate social responsibility and higher shareholder value, placing particular emphasis on
a business's environmental, social and governance (ESG) practices. Robeco strikes up an
active dialogue with the enterprises in which it invests and exercises voting rights in their
shareholders'meetings. In addition, Robeco has an exclusion policy for businesses involved
in the production of, or trade in, controversial weapons such as cluster munitions and anti
personnel mines.
in billions of euros
2012
2011
Assets managed by Robeco Group
189
150
Assets invested in sustainable theme funds
3
4
Assets to which ESG factor integration is applied
100
84
Assets managed on which dialogues with businesses are ongoing19 51 41
Assets managed for which voting rights were exercised20 32 26
Robeco uses its Enhanced Engagement programme to strike up an active dialogue with
businesses acting in contravention of the principles of the UN Global Compact. Late in 2012,
Robeco decided to exclude the first business under this programme for serious environmental
violations. Robeco tweaked its sustainability criteria for investments in government bonds in
2012. In addition, Robeco voted on sustainability issues in shareholders' meetings in 2012 too.
Robeco beefed up its exclusion policy in 2012. Countries subject to arms embargoes by the
European Union, the United States or the United Nations are now being excluded from bond
investment funds. Businesses involved in the arms trade with these countries are also excluded.
Assets managed by Robeco saw a EUR 38.6 billion increase in 2012, growing to EUR 188.9
billion. The Pension Fund for the Transport Sector transferred its plan assets worth about
EUR 13 billion to Robeco, which contributed greatly to the high cash flows of EUR 18.4 (7.6)
billion. Total inflow of assets into the asset management business, including Robeco, was
EUR 16.4 (7.0) billion. Most stock markets had a good year, and shares and bonds delivered
positive returns for clients on average. This resulted in a return on investment for the asset
management business of EUR 23.6 (-16.5) billion on balance. Developments in exchange rates
had a negative currency effect of EUR -1.4 (4.9) billion overall.
Percentages are based on weighted
assets; with the exception of
alternatives (Transtrend),
performance figures include asset
management fees.
Robeco was involved in 302 (471)
dialogues with different businesses
about 22 (23) themes in 2012.
Robeco voted in 2,888 (2,781)
shareholders'meetings in 2012.
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