ROBECO BP ALL-CAP VALUE FUND (First Prospectus Summary) | ROBECO BP ALL-CAP VALUE FUND

SUMMARY SECTION

Investment Objective

The Fund seeks to provide long-term growth of capital primarily through

investment in equity securities. Current income is a secondary objective.

Expenses and Fees

This table describes the fees and expenses that you may pay if you buy and hold

Institutional Class shares of the Fund.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees	ROBECO BP ALL-CAP VALUE FUND INSTITUTIONAL
Maximum sales charge (load) imposed on purchases (as a percentage of offering price)	none
Maximum deferred sales charge (load)	none
Maximum sales charge (load) imposed on reinvested dividends	none
Redemption fee (as a percentage of amount redeemed on shares held for less than one year, if applicable)	none
Exchange fee (as a percentage of amount exchanged on shares held for less than one year, if applicable)	none

Annual Fund Operating Expenses* (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses		ROBECO BP ALL-CAP VALUE FUND INSTITUTIONAL
Management fees		0.80%
Distribution (12b-1) fees		none
Other expenses		0.23%
Total annual Fund operating expenses		1.03%
Fee waivers and expense reimbursements	[1]	(0.33%)
Net expenses		0.70%

Example

This Example is intended to help you compare the cost of investing in the Fund

with the cost of investing in other mutual funds. The Example assumes that you

invest $10,000 in the Fund for the time periods indicated and that you sell all

of your shares at the end of the period. The Example also assumes that your

investment has a 5% return each year and that the operating expenses of the Fund

remain the same. Although your actual costs may be higher or lower, based on

these assumptions your costs would be:

Expense Example (USD $)	Expense Example, With Redemption, 1 Year	Expense Example, With Redemption, 3 Years	Expense Example, With Redemption, 5 Years	Expense Example, With Redemption, 10 Years
ROBECO BP ALL-CAP VALUE FUND INSTITUTIONAL	72	295	537	1,230

Portfolio Turnover

The Fund pays transaction costs, such as commissions, when it buys and sells

securities (or "turns over" its portfolio). A higher portfolio turnover rate may

indicate higher transaction costs and may result in higher taxes when Fund

shares are held in a taxable account. These costs, which are not reflected in

Total Annual Fund Operating Expenses or in the Example, affect the Fund's

performance. During the fiscal year ended August 31, 2011, the portfolio

turnover rate for the Fund was 47%.

Summary of Principal Investment Strategies

The Fund pursues its objective by investing, under normal circumstances, at

least 80% of its net assets (including borrowings for investment purposes) in a

diversified portfolio consisting primarily of equity securities, such as common

stocks of issuers across the capitalization spectrum and identified by Robeco as

having value characteristics.



Robeco examines various factors in determining the value characteristics of such

issuers including price to book value ratios and price to earnings ratios. These

value characteristics are examined in the context of the issuer's operating and

financial fundamentals, such as return on equity and earnings growth and cash

flow. Robeco selects securities for the Fund based on a continuous study of

trends in industries and companies, earnings power and growth and other

investment criteria.



The Fund may also invest up to 20% of its total assets in non U.S.

dollar-denominated securities.



The Fund may invest up to 15% of its net assets in illiquid securities,

including securities that are illiquid by virtue of the absence of a readily

available market or legal or contractual restrictions on resale.



The Fund may participate as a purchaser in initial public offerings of

securities ("IPO"). An IPO is a company's first offering of stock to the public.



The Fund may invest up to 10% of its net assets in securities that can be

converted into common stock, such as certain debt securities and preferred

stock.



The Fund may hedge overall portfolio exposure up to 40% of its net assets

through the purchase and sale of index and individual put and call options.



In general, the Fund's investments are broadly diversified over a number of

industries and, as a matter of policy, the Fund is limited to investing less

than 25% of its total assets in any one industry.



While Robeco intends to fully invest the Fund's assets at all times in

accordance with the above-mentioned policies, the Fund reserves the right to

hold up to 100% of its assets, as a temporary defensive measure, in cash and

eligible U.S. dollar-denominated money market instruments. Robeco will determine

when market conditions warrant temporary defensive measures.

Summary of Principal Risks

o Management Risk. The Fund is subject to the risk of poor stock selection. In

other words, the individual stocks in the Fund may not perform as well as

expected, and/or the Fund's portfolio management practices do not work to

achieve their desired result.



o Market Risk. The net asset value ("NAV") of the Fund will change with changes

in the market value of its portfolio positions. Investors may lose money.

Although the Fund will invest in stocks Robeco believes to be undervalued, there

is no guarantee that the prices of these stocks will not move even lower.



o Foreign Securities Risk. International investing is subject to special risks,

including, but not limited to, currency exchange rate volatility, political,

social or economic instability, and differences in taxation, auditing and other

financial practices.



o Small/Mid Cap Companies Risk. Investing in securities of companies with micro,

small or mid-sized capitalizations tends to be riskier than investing in

securities of companies with large capitalizations. Securities of companies with

micro, small and mid-sized capitalizations tend to be more volatile than those of

large cap companies and, on occasion, may fluctuate in the opposite direction of

large cap company securities or the broader stock market averages.



The small capitalization equity securities in which the Fund invests may be

traded only in the over-the-counter market or on a regional securities exchange,

may be listed only in the quotation service commonly known as the "pink sheets,"

and may not be traded every day or in the volume typical of trading on a

national securities exchange. These securities may also be subject to wide

fluctuations in market value. The trading market for any given small

capitalization equity security may be sufficiently small as to make it difficult

for the Fund to dispose of a substantial block of such securities. The sale by

the Fund of portfolio securities to meet redemptions may require the Fund to

sell its small capitalization securities at a discount from market prices or

during periods when, in Robeco's judgment, such sale is not desirable. Moreover,

the lack of an efficient market for these securities may make them difficult to

value.



o Convertible Securities Risk. Securities that can be converted into common

stock, such as certain securities and preferred stock, are subject to the usual

risks associated with fixed income investments, such as interest rate risk and

credit risk. In addition, because they react to changes in the value of the

equity securities into which they will convert, convertible securities are also

subject to the risks associated with equity securities.



o Portfolio Turnover Risk. If the Fund frequently trades its portfolio

securities, the Fund will incur higher brokerage commissions and transaction

costs, which could lower the Fund's performance. In addition to lower

performance, high portfolio turnover could result in taxable capital gains. The

annual portfolio turnover rate for the Fund is not expected to exceed 125%;

however, it may be higher if Robeco believes it will improve the Fund's

performance.



o Options Risk. An option is a type of derivative instrument that gives the

holder the right (but not the obligation) to buy (a "call") or sell (a "put") an

asset in the near future at an agreed upon price prior to the expiration date of

the option. The Fund may "cover" a call option by owning the security underlying

the option or through other means. The value of options can be highly volatile,

and their use can result in loss if Robeco is incorrect in its expectation of

price fluctuations.



o Illiquid Securities Risk. Investing in illiquid securities is subject to

certain risks, such as limitations on resale and uncertainty in determining

valuation. Limitations on resale may adversely affect the marketability of

portfolio securities and the Fund might be unable to dispose of restricted or

other illiquid securities promptly or at reasonable prices and might thereby

experience difficulty satisfying redemptions within seven days. The Fund might,

in order to dispose of restricted securities, have to register securities

resulting in additional expense and delay. Adverse market conditions could

impede such a public offering of such securities.



o IPO Risk. IPO risk is the risk that the market value of IPO shares will

fluctuate considerably due to certain factors, such as the absence of a prior

public market, unseasoned trading, the small number of shares available for

trading and limited information about the issuer. The purchase of IPO shares may

involve high transaction costs. IPO shares are subject to market risk and

liquidity risk. When the Fund's asset base is small, a significant portion of

the Fund's performance could be attributable to investments in IPOs, because

such investments would have a magnified impact on the Fund. As the Fund's assets

grow, the effect of the Fund's investments in IPOs on the Fund's performance

probably will decline, which could reduce the Fund's performance. Because of the

price volatility of IPO shares, the Fund may choose to hold IPO shares for a

very short period of time. This may increase the turnover of the Fund's

portfolio and may lead to increased expenses to the Fund, such as commissions

and transaction costs. In addition, Robeco cannot guarantee continued access to

IPOs.

Performance Information

The chart below illustrates the long-term performance of the Robeco Boston

Partners All-Cap Value Fund's Institutional Class. The information shows you how

the Fund's performance has varied year by year and provides some indication of

the risks of investing in the Fund. The chart assumes reinvestment of dividends

and distributions. As with all such investments, past performance (before and

after taxes) is not an indication of future results. Performance reflects fee

waivers in effect. If fee waivers were not in place, the Fund's performance

would be reduced. Updated performance information is available at

www.robecoinvest.com or 1-888-261-4073.

Total Returns for the Calendar Years Ended December 31

Best and Worst Quarterly Performance (for the periods reflected in the chart

above):



Best Quarter: 18.60% (quarter ended June 30, 2009)



Worst Quarter: (14.92)% (quarter ended December 31, 2008)



Year-to-date total return for the nine months ended September 30, 2011: (12.91)%

Average Annual Total Returns

The table below compares the average annual total returns for the Fund's

Institutional Class both before and after taxes for the past calendar year, past

five calendar years and since inception to the average annual total returns of a

broad-based securities market index for the same periods.

Average Annual Total Returns for the Periods Ended December 31, 2010

Average Annual Total Returns ROBECO BP ALL-CAP VALUE FUND	Average Annual Returns, Label		Average Annual Returns, 1 Year	Average Annual Returns, 5 Years	Average Annual Returns, Since Inception
INSTITUTIONAL	Return Before Taxes		13.42%	5.22%	9.46%	[1]
INSTITUTIONAL After Taxes on Distributions	Return After Taxes on Distributions	[2]	12.73%	4.09%	8.46%	[1]
INSTITUTIONAL After Taxes on Distributions and Sales	Return After Taxes on Distributions and Sale of Fund Shares		8.79%	4.02%	7.95%	[1]
Russell 3000® Value Index	Russell 3000® Value Index (reflects no deduction for fees, expenses or taxes)	[3]	16.23%	1.45%	5.32%	[1]

[1] The Fund's investment adviser, Robeco Investment Management, Inc. ("Robeco"), has contractually agreed to waive all or a portion of its advisory fee and/or reimburse expenses in an aggregate amount equal to the amount by which the Total Annual Fund Operating Expenses (excluding certain items discussed below) for the Fund's Institutional Class shares exceeds 0.70% of the average daily net assets attributable to the Fund's Institutional Class shares. In determining Robeco's obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account and could cause net Total Annual Fund Operating Expenses to exceed 0.70%: acquired fund fees and expenses, short sale dividend expenses, brokerage commissions, extraordinary items, interest or taxes. This contractual limitation is in effect until December 31, 2012 and may not be terminated without the approval of the Board of Directors of The RBB Fund, Inc. Robeco may not recoup any of its waived investment advisory fees.

[1] Commenced operations on July 1, 2002.

[2] After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.

[3] The Russell 3000® Value Index is an unmanaged index that measures the performance of those Russell 3000® Index companies that typically display lower price-to-book ratios and lower forecasted growth values. The stocks in this index are also members of either the Russell 1000® Value or the Russell 2000® Value indices. The Russell 3000® Index measures the performance of the 3,000 largest U.S. companies based on total market capitalization, which represents approximately 98% of the investable U.S. equity market. As of November 30, 2011, the median market capitalization of the companies in the Russell 3000® Value Index is $911 million and the largest stock is $396 billion. Please note that this range is as of a particular point in time and is subject to change. The Russell 3000® Value Index is a registered trademark of the Frank Russell Corporation.