The Dutch investment house Robeco has acquired a 40 per cent stake in the Belgian systematic currency trading company Analytic Investment Management.
AIM, established in 1990, is one of Europe's pioneers in the field of alternative investments, and specializes in systematic intra-day currency trading (USD, EUR, GBP and CHF). AIM's investment strategy is based solely on quantitative models. AIM exclusively manages institutional accounts (mostly for pension funds and hedge funds), which amount to more than USD 200 million.
For this purpose, AIM executes currency transactions in the professional interbank market for more than USD 6 billion per month on average. AIM's net average performance since it started trading currencies in June 1998 is 6.8% per year. Moreover, AIM's currency program came first in a risk-weighted return ranking by MARHedge, a leading firm in hedge-fund-performance analysis (end of June 2006).
George Möller, Robeco's CEO, said : 'This participating interest fits in with our policy of investing in complementary investment strategies with proven qualities'.
There is a possibility that this interest will be expanded to a majority interest in the future. No further details were provided.
Luc van Hof, AIM's CEO, said: 'Our strategic cooperation with one of Europe's most prestigious asset managers allows AIM to focus entirely on further developing and optimizing our trading models. Add Robeco's distribution strength and structuring know-how, and you have a winning formula for innovative and successful investment products'.
Robeco is the center for asset management within the Rabobank Group and has full operational independence. Robeco provides discretionary asset-management products and services, as well as a complete range of mutual funds to a large number of institutional and retail clients worldwide. Robeco's product range encompasses fixed-income and equity investments, as well as balanced accounts, money-market funds and alternative investments.
Robeco distributes its funds for the retail market directly, and through other financial institutions. Several of its mutual funds, including the flagship Robeco N.V., are listed on major European stock exchanges such as Amsterdam, Paris, Frankfurt and London.
Robeco services its clients not only from its head office in Rotterdam but also from its European offices in Belgium, France, Germany, Spain and Switzerland. In the United States, Robeco has offices in New York, Boston, Chicago, San Francisco and Toledo (Harbor Capital Advisors). Robeco also has an office in Bahrain and an office in Japan