Robeco to Exit Bond Business
February 29, 2008
The asset management arm of the Robeco Group—Robeco Investment Management (RIM)--has announced that it is exiting the U.S. fixed-income business. RIM’s accounts in the asset class will be transitioned to Morgan Stanley Investment Management, subject to client approval.
The firm’s U.S. bond business has roughly $7.8 billion in assets under management, which is currently managed by Robeco Weiss, Peck, and Greer.
According to a statement issued by the firm, RIM is closing the doors on the division because “sufficient scale was not achieved to provide a platform for significant long-term growth.”
Meanwhile, the firm will continue its fixed-income business in Europe, which boasts more than $60 billion in assets.
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