Four senior executives from Goldman Sachs founded fund of funds firm Sage Capital Management in 1994 with $20 million. In 2002, the firm was acquired by the Dutch asset management conglomerate Robeco Group. The firm now manages 65 times its original capital, with the renamed Robeco-Sage managing $1.3 billion as of July 31, making it an important part of the overall business at Robeco Group, which manages $194 billion.Robeco-Sage Capital, the firm’s flagship global multistrategy fund of funds, was launched in January 1994 and has produced a net annualized return of 8.3% from inception through July 2010. The fund has been up for 13 of the past 16 years, producing minor losses of 1.07% in 1994 and 0.91% in 1998. In 2008, it dropped 22.29%. Last year, the fund rose 11.33% and it is up 52 basis points through July. Altogether, the firm manages seven funds of funds. Under the...