FIRM DESCRIPTION AND PRINCIPAL OWNERS
Robeco Institutional Asset Management US Inc. (“RIAM US”) currently provides
investment advice primarily in global equity securities to US institutional investors on a
fully discretionary basis. Investment strategies are offered through separate accounts or via
sub-advisory agreements with institutional clients. RIAM US is a wholly owned subsidiary
of ORIX Corporation Europe NV (“ORIX Europe”), a Dutch holding company based in
Rotterdam, the Netherlands.
ORIX Europe is 100% owned by ORIX Corporation (“ORIX”), a global financial services
company based in Tokyo, Japan. ORIX provides a range of financial services to corporate
and retail customers around the world, including financing, leasing, real estate and
investment banking services. The stock of ORIX trades publicly on both the New York
(through American Depositary Receipts) and Tokyo Stock Exchanges.
By virtue of its being under the common control of ORIX Europe, RIAM US is affiliated
with a number of entities, including, but not limited to:
Robeco Nederland B.V. (“Robeco BV”), which provides administrative and
other services to ORIX Europe subsidiaries.
Robeco Institutional Asset Management B.V. (“RIAM BV”), a licensed
manager of Undertakings for Collective Investment in Transferable Securities
(“UCITS”) and Alternative Investment Funds (“AIFs”) with the Dutch
Authority for the Financial Markets in Amsterdam. Both Robeco BV and
RIAM BV are Dutch companies based in Rotterdam, the Netherlands.
Robeco Hong Kong Limited (“Robeco HK”) a licensed manager under the
Securities and Futures Commission of Hong Kong for carrying out Type 1,
Type 4 and Type 9 regulated activities. Robeco HK is based in Hong Kong.
Robeco Overseas Investment Fund Management (Shanghai) Limited Company
(“Robeco SH”) is registered with the Asset Management Association of China
and the State Administration of Foreign Exchange. Robeco SH is based in
Shanghai, PRC.
Robeco Schweiz AG, headquartered in Switzerland, which provides ESG data
as input for RIAM BV’s investment process.
Robeco Miami, B.V., is registered a limited liability company incorporated in
the Netherlands. Robeco Miami, B.V. is headquartered in Miami, Florida.
However, beginning 1 Janaury 2024, Robeco Miami, B.V. began efforts to
consolidate its operations in Robeco Institutional Asset Management US, Inc’s
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New York City offices with the intention of being incorporated into Robeco
Institutional Asset Management US, Inc’s operations under a one-Americas hub
for Roebco.
Boston Partners Global Investors, Inc. (“BP”), a registered investment adviser
headquartered in New York City.
Boston Partners Securities L.L.C., (“BP Securities”) a limited purpose broker-
dealer and BP subsidiary.
Boston Partners Trust Company (the “Trust”), a New Hampshire non-
depository trust company which is wholly owned by BP, that provides trust
management services through collective investment trusts.
Boston Partners (UK) Limited (“BP UK”), a UK private limited company,
which is wholly owned by BP, that provides sales and client services to
institutional clients in Europe.
Harbor Capital Advisors, Inc. (“Harbor”) is a corporation formed under the laws
of the State of Delaware. Harbor is a registered investment adviser based in
Chicago, Illinois.
Harbor Trust Company, Inc. (“Harbor Trust”) is a corporation formed under the
laws of the State of New Hampshire.
Robeco BV, RIAM BV, Robeco HK, Robeco Miami BV and Robeco SH have agreed
to provide various services including: trading, administrative, portfolio management
and research services to RIAM US. The employees of Robeco BV who provide
services to RIAM US are known as “Shared Personnel.” RIAM US’ Chief
Compliance Officer (“CCO”) maintains a listing of all such Shared Personnel. Shared
Personnel primarily provide investment management and trading for RIAM US’
client accounts. RIAM US has determined that these arrangements promote more
efficient use of internal resources and are in the best interests of its clients on an
overall basis.
RIAM US is responsible for ensuring Shared Personnel
comply with RIAM US’
policies and procedures while acting on behalf of RIAM US’ client accounts. When
providing investment advisory services to RIAM US clients, Shared Personnel will
be acting solely in their capacity as associated persons of RIAM US.
BP assists in marketing the investment advisory services of RIAM US to US clients.
Where BP is the adviser and RIAM US the subadviser, both BP and RIAM US claim
the assets as part of their respective assets under management in marketing materials.
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BP retains revenue for the servicing of certain RIAM US portfolios and remits the
remainder of client fees to RIAM US.
Types of Advisory Services
RIAM US provides investment advice primarily in global equity securities on a
discretionary basis to institutional investors. RIAM US’ investment advice is generally
tailored to client-specified guidelines. Investment strategies are offered through
separate accounts. RIAM US also sub-advises institutional clients who offer pooled
equity investment vehicles to their clients pursuant to the Investment Company Act of
1940.
The types of investments RIAM US undertakes for its clients include equities (stocks),
fixed income (bonds), and may include warrants, corporate debt securities, and trading
in derivative instruments for select strategies. Initial public offerings (IPOs) are
available to RIAM US clients in certain circumstances. RIAM US offers advice on a
wide-range of equity securities including, but not limited to: convertible securities,
preferred stock, convertible preferred stock with fixed or adjustable rates, privately
placed securities, depository receipts, and common stock issued by foreign issuers,
foreign currencies and currency hedges, short-term notes and various money market
instruments, repurchase and reverse repurchase agreements collateralized by U.S.
Government securities, forward contracts, exchange traded funds or unit investment
trusts, structured notes. RIAM US may on occasion utilize various derivative or
hybrid securities and investment techniques, including but not limited to futures,
options, and swaps where it may be deemed appropriate as being in the client’s best
interests for hedging purposes.
RIAM US may on occasion seed accounts to develop and implement new investment
strategies prior to offering such strategies to clients.
At or about 1 Janaury 2024, Robeco Miami B.V., with offices in Miami, Florida began
efforts to consolidate its operations within Robeco Institutional Asset Management US, Inc.
Robeco Miami, B.V. will move its US offshore and LATAM distribution business into a
one-Americas hub based in Robeco Institutional Asset Management US, Inc.’s New York
Offices. As part of the Robeco Miami B.V. consolidation, Robeco contracted with
LarrainVial to expand their existing partnership to outsource Robeco’s US offshore and
LATAM distribution activities to LarrainVial. Robeco Institutional Asset Management US,
Inc. will continue to focus its business operations on soliciting investment from US and
Canadian institutional clients which is not expected to intersect with Robeco Miami B.V.’s
legacy business.
TAILORED RELATIONSHIPS
Clients select RIAM US to manage money in a particular strategy or category and have
undertaken their own asset allocation decisions and due diligence on managers and
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products. All investment management assignments are governed by client guidelines, either
standard RIAM US guidelines adopted by the client, or guidelines submitted by the client.
Clients may impose reasonable restrictions on the types of investments made by RIAM US.
RIAM US will assess those restrictions and discuss with the client the potential effect on
the portfolio of restrictions that RIAM US deems material. RIAM US will reject client
guideline restriction proposals if they are materially inconsistent with RIAM US’
investment strategies.
Client Assets
As of December 31, 2023, RIAM US had approximately $ 4,377,665,899. billion dollars in
regulatory assets under management. All assets were managed on a discretionary basis.
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