Last week Robeco Groep N.V. announced its results for the full year ended 31 December 2014. 2014 has been a year of records for Robeco. During the year Robeco’s assets under management increased by EUR 40.8 billion, resulting in an all-time high of EUR 246 billion of which 48% was institutional business. This increase was driven by a strong positive investment result of EUR 35.1 billion, which provided clients with attractive returns. The increase was also supported by strong positive net cash flows. The investment result includes a EUR 18.4 billion gain as a result of the appreciation of the US dollar.
In 2014 the net cash flow of Robeco amounted to EUR 6.2 billion (2013: EUR 1.5 billion). The US, European and Asian equity capabilities in particular attracted a lot of investor interest, equally spread across retail and institutional clients. Harbor International Fund continued to be Robeco’s largest mutual fund, with EUR 39 billion in assets under management at the end of 2014.
Robeco generated an all-time high net profit of EUR 228 million, a significant increase compared to the net profit of EUR 123 million in the previous year. Performance fees were an important driver of the increase in income, which was a direct result of strong investment returns for our clients of our performance fee-related products. Recurring management fees also increased and contributed well, on account of the solid growth in assets under management. The operating result for 2014 was EUR 330 million, a very strong improvement of EUR 165 million compared to 2013 (Robeco).