Global Small-caps

Our bottom-up investment philosophy is based on long-term value. We believe that the stock market generally is too much focused on the short-term. Stock prices regularly over and undershoot. Valuations, particularly of small-cap stocks, often do not reflect the intrinsic value of the companies. As long term, engaged shareholders we focus primarily on the fundamentals of the businesses we invest in. Our in-depth stock specific analysis combined with our long term investment horizon allows us to take advantage of mispricings in the market. We do not shy away from taking contrarian views. The end result is a well-diversified portfolio of 60-90 companies spread across sectors and regions.

Bottom-up investment philosophy based on long term value:

Philosophy KGSCF

Below you find a city view image which depicts more than half of our portfolio companies. With this city view we try to show that in your daily life you are surrounded by the companies we invest in. Also, the image demonstrates our portfolio companies have very diverse activities.

Read more in our Quarterly newsletter with more insight on our team, business cases and latest numbers:

Quarterly The latest

In this Quarterly we tell you more about the potential value creation in Japanese companies we invest in. We applaud the trend towards more and better corporate governance, convinced as we are that strong management and solid governance lead to better decision making when it comes to small caps. For our investment case the spotlight is on Luxfer, a strong player in specific niches. We are encouraged by the management’s transformation strategy and happy to join the company on this journey.

Brunswick Corporation

Looking back at Kronos Worldwide

First Solar

Other Small-cap strategies:

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Our team

News & Knowledge

2019, 21 May

Asset Allocation update May

For most of last month, markets continued the rally started at the beginning of this year. The positive sentiment was carried on by an earnings season which was much stronger than expected, though actual numbers were not very solid.

2019, 20 May

Kempen names new heads real assets team

Amsterdam – 20 May 2019 Starting from 1 August 2019, Jorrit Arissen and Egbert Nijmeijer will assume responsibility for the Real Assets team of Kempen Capital Management. They will succeed Matthijs Storm, who has accepted a position on the board of directors of a real estate company.