Robeco says alternatives are “highly profitable”
NETHERLANDS – Dutch asset manager Robeco Groep says its alternative investments division was “highly profitable” in 2002.
Robeco is part of Rabobank Group and, via its Robeco Asset Management division, manages around 14.7 billion dollars in European pension assets.
It said that the Robeco Alternative Investments unit that was set up in 2001 now has 1.6 billion euros in structured products under management and 2.2 billion euros in hedge funds. The growth was mainly due to inflows from institutional and retail European investors, and its acquisition of a 49% stake in Rotterdam-based hedge fund firm Transtrend.
Its total alternative assets under management at the end of the year rose 17% to 5.4 billion euros, from 4.6 billion at the end of 2001.
Robeco said that it had 58.7 billion euros in institutional assets under management at year-end, and generated 1.1 billion of “positive net cash flow” from institutional clients. Total assets under management fell by 6.4 billion euros to 98.1 billion euros.