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Zurich-based sustainable investment firm SAM has taken over the management of two sustainable funds from parent firm Robeco.
This, combined with further fund transfers planned for next month, will give SAM an immediate €800m injection in assets under management. As at June 30 last year, SAM had CHF14.8bn (€11.5bn) in AUM.
The moves are the first significant development since the appointment of former Credit Suisse Asset Management executive Michael Baldinger as SAM’s chief executive last month. He took over the role vacated by former CEO Sander van Eijkern, who quit almost a year ago in a dispute over strategy. Baldinger has a specific brief to explore closer collaboration between SAM and Robeco.
And the changes are part of the wider shake-up of Robeco under CEO Roderick Munsters, the former chief investment officer at Dutch pension giant APG who took the helm in 2009.
Munsters had told Responsible-Investor.com last year that he saw SAM as a “centre of expertise” on ESG within the group.
SAM assumed responsibility for the Robeco Agribusiness Equities Fund and the Robeco European Equities Fund as of January 15.
The former, with €145m in assets, has become the SAM Agribusiness Equities Fund managed by Martin Jochum. The latter, worth €440m, is renamed the SAM Sustainable European Equities Fund, run by Kai Fachinger.
In addition, the €22m Robeco European Stars Fund and the €142m Robeco European Midcaps Fund will be merged into the SAM Sustainable European Equities Fund from February 18.