Think big, invest in small-caps

The global small-cap equity universe is enormous – it consists of around 6000 stocks. If you choose to stick to large caps, that’s a lot of investment opportunities that you’re passing over. At Kempen we help you gain exposure to the best that the market has to offer through our global small-cap equity strategy.

A small-cap specialist

Investing in small-caps is central to what Kempen does – in fact, we have been investing in small-caps since our set-up in 1991. Over this time we have built up an excellent long-term track record.

Based on our success in European and Dutch small-caps, we launched our global small-cap strategy in 2014. Over this time it has posted returns well in excess of the broad global small-cap market, and achieved a 5* rating from Morningstar.

Kempen Small-cap brochure

Kempen, 27 years in small-caps

Small-Caps Kempen

“For us, a stock is an ownership in a business“
Maarten Vankan
Maarten Vankan Senior Portfolio Manager

We see five great reasons to choose us as your global small-cap equity manager.

1. Our strategy is a great way of diversifying not just a broad investment portfolio, but an existing allocation to global small-caps

Small-caps are subject to different drivers from large caps, making them an excellent diversification tool – and ours is a true small-cap strategy, focusing entirely on smaller companies rather than venturing into the mid-cap universe. What’s more, with its long term value focus, our strategy’s returns have a relatively low correlation with those of other small-cap funds, most of which adopt a growth approach.

2. Ours is one of the few high-quality global small-cap strategies that’s still open to investment

With EUR 327 million of assets under management, it’s currently in the AUM sweet spot – big enough to accommodate large investments without troubling any investors’ holding ratio limits but small enough to have plenty of capacity for new inflows. We will limit capacity in the fund to maintain the investment approach and outcome for our investors in the future.

3. Our strategy has impressive sustainability credentials

Taking into account strict ESG criteria in our investment process and acting as a highly engaged shareholder, several of our clients have commented that our strategy is more sustainable than a specialist sustainability fund. As well as engaging on ESG issues, our portfolio managers use their experience to help the companies they invest in by making recommendations to their management teams, much in the way a private equity manager would.

4. We’ve consistently outperformed the global small-cap universe

The fund has achieved a maximum five-star Morningstar rating. This means the fund ranks among the best top 10% in the global small-cap peer group. In 2018 the fund won the Lipper award for best Global small and mid-cap fund.

5. High-quality service for clients

And if you choose to invest with us, you can be sure you’ll receive a great client-service experience. We have an experienced sales team and provide our institutional clients with tailored reporting. Kempen is a small, but growing, presence in the UK asset management market – and we’re going to be around for the long term. The UK is our company’s second-biggest market outside the Netherlands, and we already look after EUR 5,9 billion of assets for UK clients (31 March 2018).

Our cases

2018, 18 September

Luxfer Holdings

2018, 05 January

Kronos Worldwide

2018, 19 April

Brunswick Corporation


The Team

Our global small-cap equity team consists of four experienced portfolio managers, dedicated to the strategy.

Our four global small-cap portfolio managers have highly complementary sector expertise. The team is fully dedicated to the strategy retaining the nimbleness and team spirit that only a small unit is able to enjoy.

But the team by no means works in isolation. It regularly taps into the sector- and country-specific expertise of our Dutch and European Small-cap teams, our Global Listed Real Estate team and our Global High Dividend team among others.

Our story at a glance

investment case The latest

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Katya Nelyudova
Rutger-Jan Leewens
Loes van der Padt