NETHERLANDS - Robeco, the asset management arm of Rabobank, plans to offer manager selection for institutional investors this year.
It said: "In 2007, Robeco expects to expand its institutional proposition to include manager selection and will then be able to offer its institutional clients all services in the area of fiduciary asset management."
The disclosure came as the firm said that its assets under management rose by €10.1bn in 2006 to €141.7bn. Net profit for the year rose €41m to €193m.
"The inflow of new money from clients totalled €5.8bn, making 2006 one of the best years that Robeco has ever experienced in terms of cash flow," it said in a statement.
The inflow was "evenly spread" between Europe and the US and private and institutional investors.
Robeco added that it won two large institutional mandates in North America - worth a combined $1bn - for the emerging markets strategy managed out of Rotterdam.
Institutional investors now account for €71.5bn of total AUM, against €70.2bn for private investors.
Following its recent joint ventures in India and entry into Egypt, Robeco said it would "look further for investment capabilities to enable it to strengthen its product supply, both in Europe and the US".