- Kempen
- Van Lanschot Mandaatfonds Developed European Equity - Class ZJ
Van Lanschot Kempen Mandaatfonds Developed European Equity - Class ZJ
Profile
Van Lanschot Kempen Mandaatfonds Developed European Equity aims to achieve a structurally better long-term result than the benchmark. The benchmark is the MSCI Europe Net Total Return Index. The Fund is actively managed. The manager has the freedom to deviate significantly from the benchmark.
Van Lanschot Kempen Mandaatfonds Developed European Equity is primarily for long-term investors seeking capital growth and a diversified portfolio of European companies. To achieve the stated investment objective, a bottom-up fundamental value investment process is used to build a well-diversified portfolio. The Fund invests in listed companies that are included in the benchmark and are screened by independent data providers for ESG criteria. Investments can be made in all sectors. The Fund contains a minimum of 25 stocks in a minimum of 10 different sectors. The Fund may hold cash and deposits denominated in euros and foreign currencies. In addition, the Fund may also use techniques, structures or derivatives such as options, warrants and futures for hedging purposes and efficient portfolio management. These instruments will be used to a limited extent Participations in the ZJ Class are only available to parties and / or Distributors who register on behalf of their clients, who have been approved by the Management Company.
Van Lanschot Kempen Mandaatfonds Developed European Equity is primarily for long-term investors seeking capital growth and a diversified portfolio of European companies. To achieve the stated investment objective, a bottom-up fundamental value investment process is used to build a well-diversified portfolio. The Fund invests in listed companies that are included in the benchmark and are screened by independent data providers for ESG criteria. Investments can be made in all sectors. The Fund contains a minimum of 25 stocks in a minimum of 10 different sectors. The Fund may hold cash and deposits denominated in euros and foreign currencies. In addition, the Fund may also use techniques, structures or derivatives such as options, warrants and futures for hedging purposes and efficient portfolio management. These instruments will be used to a limited extent Participations in the ZJ Class are only available to parties and / or Distributors who register on behalf of their clients, who have been approved by the Management Company.
Management team
Ivo Kuiper, Herman Kleeven, Richard Klijnstra, Mark Oud, Martijn Kleinbussink, Raoul Martin
Performance per 2022-12-31 (rebased)
Performance per 2022-12-31
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| Fund | Benchmark | |
|---|---|---|
| 1 month | -4.1 % | -3.5 % |
| 3 months | 9.2 % | 9.5 % |
| This year | -15.2 % | -9.5 % |
| 2021 | 4.1 % | 6.0 % |
| 1 year (on annual basis) | -15.2 % | -9.5 % |
| Since inception (on annual basis) i | -8.8 % | -3.2 % |
Performance is shown after deduction of ongoing charges and including the reinvestment of dividend that has been paid out. The value of your investments may fluctuate. Past performance provides no guarantee for the future.
More information can be found on the documents page of this fund
Key figures
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| Total fund size | EUR 519.10 M 2022-12-31 |
| Share class size | EUR 519.10 M 2022-12-31 |
| Number of shares | 587,949 2022-12-31 |
| Net Asset Value i | EUR 948.50 2023-02-01 |
| Transaction price i | EUR 951.68 2023-01-30 |
Fund characteristics per 2022-12-31
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| Fund | Benchmark | |
|---|---|---|
| Number of holdings | 45 |
Van Lanschot Kempen Mandaatfonds Developed European Equity (the “Sub-Fundâ€) is a sub-fund of Van Lanschot Kempen Mandaatfondsen (the “Fundâ€). Van Lanschot Kempen Investment Management NV is the management company of the Fund. Van Lanschot Kempen Investment Management NV is authorised as a management company and regulated by the Dutch Authority for the Financial Markets (AFM). The Sub-Fund is registered under the license of Van Lanschot Kempen Investment Management NV at the Dutch Authority for the Financial Markets (AFM).
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in English). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in English). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
Van Lanschot Kempen Mandaatfonds Developed European Equity (the “Sub-Fundâ€) is a sub-fund of Van Lanschot Kempen Mandaatfondsen (the “Fundâ€). Van Lanschot Kempen Investment Management NV is the management company of the Fund. Van Lanschot Kempen Investment Management NV is authorised as a management company and regulated by the Dutch Authority for the Financial Markets (AFM). The Sub-Fund is registered under the license of Van Lanschot Kempen Investment Management NV at the Dutch Authority for the Financial Markets (AFM).
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in English). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in English). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
Performance per 2022-12-31 (rebased)
Performance per 2022-12-31
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| Fund | Benchmark | |
|---|---|---|
| 1 month | -4.1 % | -3.5 % |
| 3 months | 9.2 % | 9.5 % |
| This year | -15.2 % | -9.5 % |
| 2021 | 4.1 % | 6.0 % |
| 1 year (on annual basis) | -15.2 % | -9.5 % |
| Since inception (on annual basis) i | -8.8 % | -3.2 % |
Performance is shown after deduction of ongoing charges and including the reinvestment of dividend that has been paid out. The value of your investments may fluctuate. Past performance provides no guarantee for the future.
Dividends
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| Distributing | Yes |
| Number of distributions per year | 1 |
| Dividend calendar |
The fund pays the received dividends and interest income to the participants within eight months after the end of the financial year. The first financial year ends on 30 September 2022, which means that a first dividend payment can take place in the period October 2022 - May 2023. The amount of the dividend payment can vary per year and can be zero in any year.
Van Lanschot Kempen Mandaatfonds Developed European Equity (the “Sub-Fundâ€) is a sub-fund of Van Lanschot Kempen Mandaatfondsen (the “Fundâ€). Van Lanschot Kempen Investment Management NV is the management company of the Fund. Van Lanschot Kempen Investment Management NV is authorised as a management company and regulated by the Dutch Authority for the Financial Markets (AFM). The Sub-Fund is registered under the license of Van Lanschot Kempen Investment Management NV at the Dutch Authority for the Financial Markets (AFM).
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in English). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in English). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
Geographic allocation (2022-12-31)
26.7 %
United Kingdom
16.4 %
France
15.7 %
Germany
9.3 %
Netherlands
8.2 %
Switzerland
7.0 %
Norway
6.4 %
Denmark
6.0 %
Sweden
2.2 %
Ireland
2.1 %
Italy
0.1 %
Cash
Total
100 %
Top 10 holdings (2022-12-31)
4.4 %
ASML
4.1 %
SAP
4.1 %
Mowi
3.7 %
Assa Abloy
3.3 %
Allianz
3.3 %
RELX
3.3 %
Novo Nordisk
3.3 %
EssilorLuxottica
3.3 %
Croda
3.1 %
AstraZeneca
Total
35.9 %
Sector allocation (2022-12-31)
12.4 %
Industrial Goods & Services
11.8 %
Health Care
9.8 %
Food & Beverage
9.8 %
Technology
8.2 %
Insurance
6.9 %
Utilities
6.5 %
Personal & Household Goods
5.9 %
Chemicals
5.0 %
Banks
4.7 %
Oil & Gas
4.3 %
Automobiles & Parts
3.5 %
Retail
3.3 %
Basic Resources
2.7 %
Financial Services
2.3 %
Telecommunications
1.5 %
Real Estate
1.5 %
Travel & Leisure
0.1 %
Other
Total
100 %
Van Lanschot Kempen Mandaatfonds Developed European Equity (the “Sub-Fundâ€) is a sub-fund of Van Lanschot Kempen Mandaatfondsen (the “Fundâ€). Van Lanschot Kempen Investment Management NV is the management company of the Fund. Van Lanschot Kempen Investment Management NV is authorised as a management company and regulated by the Dutch Authority for the Financial Markets (AFM). The Sub-Fund is registered under the license of Van Lanschot Kempen Investment Management NV at the Dutch Authority for the Financial Markets (AFM).
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in English). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in English). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
Ongoing charges
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| Service fee i | 0.05 % |
| Expected ongoing charges i | 0.05 % |
Van Lanschot Kempen Mandaatfonds Developed European Equity (the “Sub-Fundâ€) is a sub-fund of Van Lanschot Kempen Mandaatfondsen (the “Fundâ€). Van Lanschot Kempen Investment Management NV is the management company of the Fund. Van Lanschot Kempen Investment Management NV is authorised as a management company and regulated by the Dutch Authority for the Financial Markets (AFM). The Sub-Fund is registered under the license of Van Lanschot Kempen Investment Management NV at the Dutch Authority for the Financial Markets (AFM).
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in English). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in English). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
Share class details
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| Share class | ZJ |
| Investor type | Institutional |
| Distributing | Yes |
| Benchmark i | MSCI Europe Net Total Return Index in euro |
| Investment category | Sustainable Equity |
| Universe | European equity |
| Inception date | 2021-09-24 |
| Domicile | Netherlands |
| May be offered to all investors in | Netherlands |
| UCITS status i | Yes |
| Status | Open-end i |
| Base currency | EUR |
| Share class currency | EUR |
| Administration Office | Juridisch Eigenaar BestSelect BV |
| Administrator | BNP Paribas S.A., Netherlands Branch |
| Auditor | PricewaterhouseCoopers Accountants NV |
| Transfer agent | Van Lanschot Kempen NV |
| Management company | Van Lanschot Kempen Investment Management NV |
| Depositary and custodian | BNP Paribas S.A., Netherlands Branch |
Participations in the ZJ Class are only available to parties and / or Distributors who register on behalf of their clients, who have been approved by the Management Company.
Tradability
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| Listed | no |
| Subscription/Redemption Frequency | Daily |
| ISIN i | NL0015000CM0 |
This fund is only available for orders submitted via the Transfer Agent platform of Van Lanschot Kempen NV.
Van Lanschot Kempen Mandaatfonds Developed European Equity (the “Sub-Fundâ€) is a sub-fund of Van Lanschot Kempen Mandaatfondsen (the “Fundâ€). Van Lanschot Kempen Investment Management NV is the management company of the Fund. Van Lanschot Kempen Investment Management NV is authorised as a management company and regulated by the Dutch Authority for the Financial Markets (AFM). The Sub-Fund is registered under the license of Van Lanschot Kempen Investment Management NV at the Dutch Authority for the Financial Markets (AFM).
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in English). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in English). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
No sustainable investment objective
The Van Lanschot Mandaatfonds Developed Europe Equity (the “Fundâ€) Falls under the scope of article 8 of the SFDR, indicating that the fund promotes environmental and/or social characteristics. While it does not have as its objective a sustainable investment, it will have a minimum proportion of 10% of sustainable investments. The Fund considers principle adverse impact on sustainability factors.
The Fund excludes companies through the application of strict exclusion criteria. These take into account international standards, such as the UN Global Compact framework, the OECD Guidelines for Multinational Enterprises, the UN Guiding Principles for Business and Human Rights, and our Principles for Responsible Investment commitments. The Fund applies additional exclusion criteria based on product involvement and business conduct.
The Fund excludes companies through the application of strict exclusion criteria. These take into account international standards, such as the UN Global Compact framework, the OECD Guidelines for Multinational Enterprises, the UN Guiding Principles for Business and Human Rights, and our Principles for Responsible Investment commitments. The Fund applies additional exclusion criteria based on product involvement and business conduct.
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Environmental or social characteristics of the financial product
The Fund promotes environmental characteristics related to:
• Climate change mitigation and climate change adaptation in line with the Paris Climate Agreement; Â
• The protection of biodiversity and ecosystems; Â
• The transition to a circular economy.Â
The Fund promotes social characteristics related to:Â
• Decent work;Â
• Adequate living standards and wellbeing for end-users; Â
• Other social topics such as gender equality and broader diversity matters. Â
 Â
The environmental characteristics promoted by the Sub-Fund seek to contribute to achievement of the climate goals of the Paris Agreement and the National Climate Agreement of the Netherlands (‘Klimaatakkoord’). This decarbonization pathway encompasses short-term (2025) objectives, a mid-term (2030) ambition and a long-term commitment to be net zero by 2050. Although there has been no index designated as a reference benchmark, by 2025 the Sub-Fund aims to have a carbon intensity that is below the 7% reduction pathway. Â
• Climate change mitigation and climate change adaptation in line with the Paris Climate Agreement; Â
• The protection of biodiversity and ecosystems; Â
• The transition to a circular economy.Â
The Fund promotes social characteristics related to:Â
• Decent work;Â
• Adequate living standards and wellbeing for end-users; Â
• Other social topics such as gender equality and broader diversity matters. Â
 Â
The environmental characteristics promoted by the Sub-Fund seek to contribute to achievement of the climate goals of the Paris Agreement and the National Climate Agreement of the Netherlands (‘Klimaatakkoord’). This decarbonization pathway encompasses short-term (2025) objectives, a mid-term (2030) ambition and a long-term commitment to be net zero by 2050. Although there has been no index designated as a reference benchmark, by 2025 the Sub-Fund aims to have a carbon intensity that is below the 7% reduction pathway. Â
Investment strategy
The investment objective of the Fund is to achieve long-term capital growth. In addition, the Sub-Fund seeks to outperform the MSCI Europe Net Total Return Index in euro comprising capital gains or losses plus net dividend. Our ESG-policy, described in the ESG Policy & Process document, is aimed at the promotion of environmental and/or social characteristics. This ESG policy is implemented in our strategy’s investment process across four pillars: Exclusion, ESG Integration, Active ownership and Positive impact.Â
Before and after selecting the asset, we apply adequate (ESG) due diligence measures. This can help to enhance long-term risk adjusted returns for investors, in accordance with the investment objectives of the Fund. We look at each company on a case-by-case basis, taking into account both material risks in a given industry and the company’s respective risk exposure, practices and disclosure. This includes:Â
- an assessment of good governance practices. The investee companies are rated for governance aspects using external research and internal assessments .Â
- the company’s exposure to past controversies and future ESG opportunities
Based on fundamental ESG analysis we form an opinion on the quality of a company’s ESG profile and award a score (1-5).Â
Before and after selecting the asset, we apply adequate (ESG) due diligence measures. This can help to enhance long-term risk adjusted returns for investors, in accordance with the investment objectives of the Fund. We look at each company on a case-by-case basis, taking into account both material risks in a given industry and the company’s respective risk exposure, practices and disclosure. This includes:Â
- an assessment of good governance practices. The investee companies are rated for governance aspects using external research and internal assessments .Â
- the company’s exposure to past controversies and future ESG opportunities
Based on fundamental ESG analysis we form an opinion on the quality of a company’s ESG profile and award a score (1-5).Â
Proportion of investments
Information about the proportion of investments with environmental or social characteristics is available in the annex II of this product. Â
Monitoring of environmental or social characteristics
The holdings are screened quarterly for compliance with Kempen’s ESG criteria. The screening process allows Kempen to monitor the ESG performance of all companies in the fund. It also encourages engagement on potential issues identified. Furthermore, the results of the screening feeds into quarterly challenging sessions between ESG specialists and portfolio managers. These sessions are used to assess whether ESG risks and opportunities are sufficiently reflected in the investment decision making process of Kempen.
Methodologies
Principal Adverse Impact Indicators are monitored at individual holding level and at the portfolio level.Â
Kempen ESG Score serves as input throughout the investment process (exclusion, integration in the valuation models, engagement). Scores are based on 21 ESG risk factors, which are selected based on their materiality per industry.Â
Carbon emission intensity is used as the key carbon metric. We calculate carbon intensity based on revenues (weighted average carbon intensity), which we use for our commitment, ambition and objectives.Â
EU Taxonomy alignment is measured by turnover, for which we use a combination of actual data from investee companies and estimates on EU Taxonomy alignment made by a third party provider.Â
Engagement Milestones are used in order to measure engagement success. All engagement contacts are recorded and classified: Milestone 1 (company is informed), Milestone 2 (company acknowledges request), Milestone 3 (company commits to improve), up until Milestone 4 (proof of improvement).
Kempen ESG Score serves as input throughout the investment process (exclusion, integration in the valuation models, engagement). Scores are based on 21 ESG risk factors, which are selected based on their materiality per industry.Â
Carbon emission intensity is used as the key carbon metric. We calculate carbon intensity based on revenues (weighted average carbon intensity), which we use for our commitment, ambition and objectives.Â
EU Taxonomy alignment is measured by turnover, for which we use a combination of actual data from investee companies and estimates on EU Taxonomy alignment made by a third party provider.Â
Engagement Milestones are used in order to measure engagement success. All engagement contacts are recorded and classified: Milestone 1 (company is informed), Milestone 2 (company acknowledges request), Milestone 3 (company commits to improve), up until Milestone 4 (proof of improvement).
Data sources and processing
External data providers include (but are not limited to)Â
- Institutional Shareholder Services (ISS), used for proxy voting, governance research, carbon data and Sustainable Development Goals data;Â
- MSCI ESG Research: used for company ESG Ratings, product involvement data, principal adverse indicators and to assess the degree to which the investments are in environmentally sustainable economic activities under the EU Taxonomy, measured by turnover;Â
- Sustainalytics: used for ESG Risk Ratings and product involvement data.Â
Internal as well as external data is collected and processed in several data analytics (including FactSet, PowerBI, Tableau) and internal compliance systems (including ThinkFolio).
- Institutional Shareholder Services (ISS), used for proxy voting, governance research, carbon data and Sustainable Development Goals data;Â
- MSCI ESG Research: used for company ESG Ratings, product involvement data, principal adverse indicators and to assess the degree to which the investments are in environmentally sustainable economic activities under the EU Taxonomy, measured by turnover;Â
- Sustainalytics: used for ESG Risk Ratings and product involvement data.Â
Internal as well as external data is collected and processed in several data analytics (including FactSet, PowerBI, Tableau) and internal compliance systems (including ThinkFolio).
Limitations to methodologies and data
Externally provided ESG data is far from perfect. Therefore we conduct rigorous due diligence of the data used in our ESG processes to ensure the limitations will not affect the environmental and social characteristics. To ensure data quality we regularly engage with portfolio companies and third party vendors. Limitations include, but are not limited to discrepancies between company reported data and data provided by third parties, inconsistencies across data vendors, market cap bias and modelling assumptions.
Due diligence
Before a company is invested in, Portfolio Managers perform a due diligence on potential ESG risks and principal adverse impact indicators, opportunities, as well as potential past controversies. ESG due diligence is integrated in the different stages of the investment process (screening of the investable universe, fundamental research & portfolio management). ESG specialists challenge the portfolio managers on the implementation of the ESG process on a quarterly basis.
Van Lanschot Kempen Mandaatfonds Developed European Equity (the “Sub-Fundâ€) is a sub-fund of Van Lanschot Kempen Mandaatfondsen (the “Fundâ€). Van Lanschot Kempen Investment Management NV is the management company of the Fund. Van Lanschot Kempen Investment Management NV is authorised as a management company and regulated by the Dutch Authority for the Financial Markets (AFM). The Sub-Fund is registered under the license of Van Lanschot Kempen Investment Management NV at the Dutch Authority for the Financial Markets (AFM).
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in English). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in English). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
Read more information about Van Lanschot Kempen Investment Management N.V. on this site and find also more information on BNP Paribas S.A., Netherlands Branch.
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Van Lanschot Kempen Mandaatfonds Developed European Equity (the “Sub-Fundâ€) is a sub-fund of Van Lanschot Kempen Mandaatfondsen (the “Fundâ€). Van Lanschot Kempen Investment Management NV is the management company of the Fund. Van Lanschot Kempen Investment Management NV is authorised as a management company and regulated by the Dutch Authority for the Financial Markets (AFM). The Sub-Fund is registered under the license of Van Lanschot Kempen Investment Management NV at the Dutch Authority for the Financial Markets (AFM).
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in English). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in English). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The value of your investment may fluctuate. Past performance provides no guarantee for the future.