Robeco posts positive H1 results and targets LatAm with new Miami office

Dutch asset manager Robeco is to launch a new office in Miami, United States, to strengthen its presence in Latin America where it aims at growing its client base in key emerging markets.

The push towards the new region will be driven by the Madrid office of the company, headed by Javier García de Vinuesa, which already oversees LatAm clients and products.

It is understood that the office will be operational after the summer, with less than five people based in Miami initially.

García de Vinuesa will relocate from Madrid to Miami and will remain in charge of Spain and Latin America, dividing his time from the new office and Madrid.

The base in Miami will help Robeco to strengthen its presence in Latin America. In particular, the office will look to tap into growth opportunity in key markets such as Chile and Colombia.

In the US, Robeco also has offices in Chicago, New York and Boston.

The launch follows the recent opening of an office in Sydney, Australia, focusing on driving institutional sales to Australia’s domestic asset management industry
Meanwhile, the asset manager released today its first-half results.

Assets under management increased to €179bn at the end of June from €150bn at the end of 2011.

Total cash inflow in the first half year was €17bn, with major contributions coming from the Netherlands, as well as Harbor and Robeco Investment Management in the USA.

Net cash inflow from institutional clients was mainly driven from the Netherlands, and increased the proportion of institutional assets to Robeco’s total assets under management to 51% from 46% in the first half of 2011.

In April, Robeco also launched a conservative credits capability, seeking to benefit from a low-risk anomaly in corporate bond markets, and adding to its existing suite of conservative equity products.

“The 19% growth in assets under management in the first half of 2012 is supported by a combination of significant net cash inflows and strong investment performance, giving us confidence in this period in which Robeco is working closely with Rabobank on the strategic review of the business,” said Roderick Munsters, chief executive of Robeco Group.

Munsters added that Robeco’s strong presence in emerging markets provides significant future assets inflow potential.

“Canara-Robeco is ideally positioned to benefit from future growth in India and Robeco has direct access to key Asia-Pacific markets. From a new office in Miami, Robeco will further strengthen its presence in key markets in Latin America,” he said.

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