Robeco
Robeco is an originally Dutch asset management firm, since 2013 part of Orix, founded in 1929 as the Rotterdamsch Beleggings Consortium. By year end 2014, the company had €246 billion of assets under management. It was acquired in 2001 by the Rabobank Groep and sold in 2013 to ORIX Corporation.
Robeco offers assets management services to both institutional and private investors. The funds for private investors are available through Robeco itself and other financial institutions.
History
- 1929 A group of prominent distinguished businessmen from Rotterdam founded the Rotterdamsch Beleggings Consortium and the Robeco fund. The portfolio is diversified globally over the Netherlands, other European countries, North and South America, and the Dutch East Indies. The company had a startup capital of almost 2 million guilders, but by mid-1932 less than half was left. But the company managed to survive the 1930s and managed to grow during World War II by heavily investing in the United States.
- 1940-1945 On the eve of WWII, almost half of the portfolio was invested in the US. As a result, Robeco’s assets increased by almost 90% between 1939 and 1946.
- 1953 Robeco introduces a share-saving system, allowing people of more modest means to save up for Robeco shares.
- 1959 New listings in Paris, Brussels, London and numerous other European financial centers. Listings are also obtained in Hong Kong and Tokyo.
- 1963 Robeco is one of the first foreign investors to enter the Japanese stock market.
- 1965 Foundation of Rolinco, a second mutual fund, for investors more interested in capital growth than taxable dividend. Robeco Group is also founded
- 1969 Robeco has become the largest mutual fund in Europe.
- 1974 Foundation of Rorento, Robeco’s first bond fund, as an answer to the oil crisis in 1973.
- 1980s Robeco opens offices in various European countries, including France, Luxembourg and Switzerland.
- 1990 The company starts a close cooperation with the Rabobank, which would eventually lead to the takeover of Robeco by the Rabobank in 2001.
- 1999 Introduction of Robeco DuurzaamAandelen , the first sustainable equity fund launched by a Dutch mainstream asset manager.
- 2000 Robeco North America acquires Urban Shopping Centers
- 2001 - Robeco Group acquires Harbor Capital Advisors, an American provider of investment funds. Harbor selects the most suitable manager for each of its funds externally and outsources portfolio management to it.
- 2002 Robeco North America sells all of its Urban Shopping Center investments
- 2002 Robeco Group acquires a 60% interest in Boston Partners Asset Management, a value-equity manager based in Boston. The remaining shares are acquired in 2003.
- 2002 Robeco Group acquires a 49% interest in Transtrend, a Rotterdam-based managed-futures trader with a track record going back to 1990. The remaining shares are acquired in 2007.
- 2004 Introduction of Robeco Sustainable Private Equity, the first sustainable private-equity fund of funds in the world, developed in cooperation with Rabobank.
- 2005 Robeco opens an office in Tokyo, Japan.
- 2006 Introduction of Robeco Clean Tech Private Equity II, an investment program aimed at clean-tech private-equity funds and co-investments, developed in cooperation with Rabobank.
- 2006 Robeco signs the United Nations’ Principles for Responsible Investment.
- 2006 Robeco joins the Enhanced Analytics Initiative, a group of international asset owners and asset managers who work together to encourage investment research that considers the impact of extra-financial issues on long-term company performance.
- 2006 Acquisition of a 64% stake in Swiss based Sustainable Asset Management. SAM Group and Robeco Group join forces, which gives them a strong position in the market for sustainable investment.
- 2007 For the Belgian market, Robeco Bank Belgium is sold to Kaupthing Bank Luxembourg.
- 2007 - Robeco opens a regional offices in Hong Kong for Mainland China, Hong Kong, Taiwan and Singapore. The office also houses portfolio and sales managers.
- 2009 Roderick Munsters becomes CEO and strengthens the focus on responsible investing.
- 2010 - Robeco implements an integrated sustainable investment policy. In future, factors relating to the environment, society and good corporate governance will be fully taken into account in investment decisions. Robeco also introduces an exclusion policy; no investments will be made in certain companies, such as producers of controversial weapons such as cluster bombs.
- 2012 Rabobank Group is looking into the "strategic options" for its subsidiary Robeco Group as part of a strategic reorientation.
- 2013 In February Rabobank announced the sale of Robeco Group to ORIX Corporation of Japan. ORIX will acquire about 90.01% of the equity in Robeco Group from Rabobank for €1,935 million. Closing of the transaction is subject to legal and regulatory approvals, which are expected to be completed within six months.
- 2016 - ORIX introduces a new organisational structure for Robeco Group. Robeco Group will become a holding entity with various asset management subsidiaries such as Boston Partners, Harbor Capital Advisors, Transtrend, RobecoSAM and Robeco. Makoto Inoue, the Japanese CEO of ORIX, is in charge of the holding company following approval by the regulator. Board member Leni Boeren leads the structural change and leaves Robeco when this process is completed. Gilbert Van Hassel is appointed CEO and Chairman of the Board of Robeco Institutional Asset Management in September.
- 2018 - The name of the financial holding Robeco Group is changed to ORIX Corporation Europe.
| Year | AuM |
| 24 March 1934 | 0.5 |
| 1939 | 6.8 |
| 1949 | 20.9 |
| 1959 | 248.2 |
| 1969 | 2,030 |
| 1978 | 4,629 |
| 1 July 1987 | 15,880 |
| 1999 | 85,400 |
| 2008 | 110,700 |
| 2009 | 134,900 |
| 2010 | 149,600 |
| 2011 | 150,300 |
| 2012 | 189,000 |
| 2013 | 205,000 |
| 2014 | 246,000 |
| 2015 | 268,000 |
| 2016 | 281,000 |
In May 2016, it was decided to separate the activities of the subsidiaries - including Robeco - from those of Robeco Group. The figure below provides an overview of the assets under management of Robeco since 2017:
Performance
The stocks managed by Robeco performed better than the benchmark over the period 2004-2006, beating the benchmark on average with 0.89%. However performance was weaker over 2006 than it was over 2004 and 2005. The bonds managed by Robeco performed below the benchmark. In 2016, 69% of the funds outperformed the benchmark over a three-year period. The comparable figure for 2015 was 74%.In 2017 79%, and in 2018 51% of the funds outperformed the benchmark over a three-year period.
Global presence
Robeco currently has offices in the following countries;- Netherlands International headquarters; Robeco Institutional Asset Management
- Australia Robeco Hong Kong Ltd
- China Robeco Greater China and South East Asia
- France Robeco France
- Germany Robeco Germany
- Japan Robeco Japan clients
- Spain Robeco Spain
- UAE Robeco Middle East
- Switzerland RobecoSAM Switzerland
- United Kingdom Robeco UK
- Robeco Institutional Asset Management U.S.
Headquarters