Canara Robeco Mutual Fund

Canara Robeco Mutual Fund

Canara Robeco Asset Management Company Ltd. (CRAMC) or Canara Robeco Mutual Fund is a joint venture between the now defunct Canbank Mutual Fund and Robeco Group N.V.

Canbank Mutual Fund

Established in 1987, Canbank Mutual Fund was the asset management company (AMC) of Canara Bank. It is the second oldest mutual fund in India.

Robeco Groep N.V.

Robeco Groep N.V. is a multinational asset management company established back in 1929. It was initially the asset management arm of Rabobank, a Dutch multinational banking and financial services company. Cooperation between the two firms began as early as 1990. Rabobank eventually acquired Robeco in 2001.

In 2013, Orix Europe, bought 90.01% shares of Robeco from Rabobank at an estimated $2.7 billion. The former purchased the remaining 9.99% shares in 2016. Orix Europe is part of Orix Corporation, a Japanese financial services group.

Robeco Groep N.V. currently has 15 offices globally and employs more than 900 individuals. As of March 2019, it manages an AuM of €179 billion.

In the year FY 2017-18, Robeco Groep N.V. has a net revenue of €582.6 million, an profit before tax of €109.9 million, and a profit after tax of €87.5 million.

Canara Robeco Asset Management Company Ltd. (CRAMC)

In 2007, Canbank Mutual Fund offloaded 49% of its stake to Netherlands-based investment management firm Robeco Groep N.V. for Rs. 115 Crore to form the Canara Robeco Asset Management Company Ltd. (CRAMC).

The company offers a wide range of investment options like hybrid and monthly income funds, numerous debt and treasury funds, and thematic and diversified equity schemes.

As of FY 2017-18 the AMC has a net income of Rs. 10915.37 Lakh, a profit before tax of Rs. 3240.56 Lakh and a profit after tax of Rs. 2270.50 Lakh.

The AMC has 22 branches throughout India. As of May 2022, it has an asset under the management of Rs. 47955.87 crores.