European Property Fundamental Index Fund - terminated

Profile

On 28 March 2017 (close of business) Kempen European Property Fundamental Index® Fund was terminated. The Netherlands Authority for the Financial Markets has been requested to remove Kempen European Property Fundamental Index® Fund from the register of registered investment funds. You can find more information about the closure on the web page under section Documents/Other.

Kempen European Property Fundamental Index® Fund (KEPFIF) has the objective to achieve attractive long-term investment results. KEPFIF aims to reflect the result of the index as well as to offer the investors sufficient liquidity. The index is the GPR European Property Fundamental Index®. This index is compiled based on fundamental (financial) factors rather than on the basis of market capitalisation.

These fundamental factors are representative of the economic power of companies. For listed real estate companies, these are rental income, EBITDA and gross dividends.

Management team

Hans Kamminga, Kim Lubbers, Emma Weeder

Performance per 2017-05-31 (rebased)

No chart data available

Performance per 2017-05-31

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  Fund Benchmark
1 month -1.7 % -1.5 %
3 months -2.3 % -2.0 %
This year -2.3 % -2.0 %
2014 19.8 % 20.4 %
2015 12.3 % 12.6 %
2016 -3.0 % -2.7 %
3 years (on annual basis) i 7.1 % 7.6 %
5 years (on annual basis) i 9.3 % 9.7 %
10 years (on annual basis) -1.7 % -1.7 %
Since inception (on annual basis) i 7.1 % 7.1 %
Change of name on 1 September 2011. Before 1 September 2011: Kempen European Property Smart Index. Before 1 June 2010: Kempen Real Estate Securities Index Sampling Fund. Performance is shown after deduction of ongoing charges. 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 79.95 M 2017-03-28
Number of shares
3,144 2017-05-31
Net Asset Value i
EUR 25,427.95 2017-03-28

Fund characteristics per 2017-05-31

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  Fund Benchmark
Dividend yield i 3.78 % 3.78 %
Weighted average market capitalization i EUR 8,448 M EUR 8,445 M
P/E ratio i 10.55 10.55
Active share i 0.05 %
Kempen Capital Management N.V. (KCM) is the management company of Kempen European Property Fundamental Index® Fund (the "Fund"). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. On 28 March 2017 (close of business) Kempen European Property Fundamental Index® Fund was terminated. The Netherlands Authority for the Financial Markets has been requested to remove Kempen European Property Fundamental Index® Fund from the register of registered investment funds.

‘Fundamental Index®’ and/or ‘Research Affiliates Fundamental Index®’ and/or ‘RAFI’ and/or all other RA trademarks, trade names patented and patent-pending concepts are the exclusive property of Research Affiliates, L.L.C.

Market developments per 2017-02-28

The earnings season and markets deciding that political uncertainty was apparently no longer a cause for a reassessment of the risk premium, has caused an inflection point: real estate outperformed general equities. In the UK the numbers have shown that Brexit was arguably excessively priced into London office stocks. Evidence from rental and investment markets shows that if anything, the correction in rents and values is limited. British Land sold the GBP 1.2bn London office landmark Leadenhall at a 27% premium to book to an Asian investor. UK retail stocks also performed strongly as rents and values remained flat (we think not for long) and Australian Westfield bought equity in UK REIT’s INTU and Hammerson. Last time Westfield did this in 2009 not much happened though. After years of deleveraging several European REIT’s now felt comfortable enough to distribute special dividends, such as Gecina, Citycon, Great Portland and Derwent London.
Kempen Capital Management N.V. (KCM) is the management company of Kempen European Property Fundamental Index® Fund (the "Fund"). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. On 28 March 2017 (close of business) Kempen European Property Fundamental Index® Fund was terminated. The Netherlands Authority for the Financial Markets has been requested to remove Kempen European Property Fundamental Index® Fund from the register of registered investment funds.

‘Fundamental Index®’ and/or ‘Research Affiliates Fundamental Index®’ and/or ‘RAFI’ and/or all other RA trademarks, trade names patented and patent-pending concepts are the exclusive property of Research Affiliates, L.L.C.

Performance per 2017-05-31 (rebased)

No chart data available

Performance per 2017-05-31

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  Fund Benchmark
1 month -1.7 % -1.5 %
3 months -2.3 % -2.0 %
This year -2.3 % -2.0 %
2014 19.8 % 20.4 %
2015 12.3 % 12.6 %
2016 -3.0 % -2.7 %
3 years (on annual basis) i 7.1 % 7.6 %
5 years (on annual basis) i 9.3 % 9.7 %
10 years (on annual basis) -1.7 % -1.7 %
Since inception (on annual basis) i 7.1 % 7.1 %
Change of name on 1 September 2011. Before 1 September 2011: Kempen European Property Smart Index. Before 1 June 2010: Kempen Real Estate Securities Index Sampling Fund. Performance is shown after deduction of ongoing charges. The value of your investments may fluctuate. Past performance provides no guarantee for the future.

Dividends

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Distributing
No

Risk analysis (ex post) per 2017-05-31

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  3 years Since inception
Maximum drawdown i -14.12 % -70.97 %
Tracking error i 0.26 % 0.46 %
Information ratio i -1.69 -0.04
Beta i 1.00 1.00
Kempen Capital Management N.V. (KCM) is the management company of Kempen European Property Fundamental Index® Fund (the "Fund"). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. On 28 March 2017 (close of business) Kempen European Property Fundamental Index® Fund was terminated. The Netherlands Authority for the Financial Markets has been requested to remove Kempen European Property Fundamental Index® Fund from the register of registered investment funds.

‘Fundamental Index®’ and/or ‘Research Affiliates Fundamental Index®’ and/or ‘RAFI’ and/or all other RA trademarks, trade names patented and patent-pending concepts are the exclusive property of Research Affiliates, L.L.C.

Geographic allocation (2017-05-31)

100.0 %
Cash
Totaal
100 %

Sector allocation (2017-05-31)

34.6 %
Retail
31.3 %
Diversified
17.0 %
Residential
14.0 %
Offices
3.1 %
Industrials
0.0 %
Other
Totaal
100 %
On basis of 'look through' data. The cash position is included in ‘Other’.
Kempen Capital Management N.V. (KCM) is the management company of Kempen European Property Fundamental Index® Fund (the "Fund"). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. On 28 March 2017 (close of business) Kempen European Property Fundamental Index® Fund was terminated. The Netherlands Authority for the Financial Markets has been requested to remove Kempen European Property Fundamental Index® Fund from the register of registered investment funds.

‘Fundamental Index®’ and/or ‘Research Affiliates Fundamental Index®’ and/or ‘RAFI’ and/or all other RA trademarks, trade names patented and patent-pending concepts are the exclusive property of Research Affiliates, L.L.C.

Ongoing charges

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Management fee i
0.45 %
Service fee i
0.15 %
Expected ongoing charges i
0,6 %
Ongoing charges last financial year i
0.60 %

Other costs

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Upward swing factor i
0.30 %
Downward swing factor i
0.30 %
More about our swing pricing policy
Kempen Capital Management N.V. (KCM) is the management company of Kempen European Property Fundamental Index® Fund (the "Fund"). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. On 28 March 2017 (close of business) Kempen European Property Fundamental Index® Fund was terminated. The Netherlands Authority for the Financial Markets has been requested to remove Kempen European Property Fundamental Index® Fund from the register of registered investment funds.

‘Fundamental Index®’ and/or ‘Research Affiliates Fundamental Index®’ and/or ‘RAFI’ and/or all other RA trademarks, trade names patented and patent-pending concepts are the exclusive property of Research Affiliates, L.L.C.

Share class details

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Investor type
Institutional & Private
Distributing
No
Benchmark i
GPR European Property Fundamental Index®
Investment category
Fundamental Indexation
Universum
European real estate equities
Inception date
2003-06-19
Domicile
The Netherlands
Registered in
The Netherlands
UCITS status i
No
Status
Open-end i
Base currency
EUR
Share class currency
EUR
Depositary
Administratiekantoor Kempen European Property Fundamental Index Fund B.V.
Management company
Kempen Capital Management N.V.
Custodian
BNP Paribas Securities Services S.C.A.

Tradability

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Minimum subscription
Minimal initial subscription and holding amount: €1,000,000
Listed
no
Pricing frequency
Every Wednesday, and in the case this is no business day, on the next business day
ISIN i
NL0009538404
Details
Orders must be received by the transfer agent on the business day before the trading day no later than 10:00 AM Amsterdam time in order to be executed on the dealing day.
Kempen Capital Management N.V. (KCM) is the management company of Kempen European Property Fundamental Index® Fund (the "Fund"). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. On 28 March 2017 (close of business) Kempen European Property Fundamental Index® Fund was terminated. The Netherlands Authority for the Financial Markets has been requested to remove Kempen European Property Fundamental Index® Fund from the register of registered investment funds.

‘Fundamental Index®’ and/or ‘Research Affiliates Fundamental Index®’ and/or ‘RAFI’ and/or all other RA trademarks, trade names patented and patent-pending concepts are the exclusive property of Research Affiliates, L.L.C.
Kempen Capital Management N.V. (KCM) is the management company of Kempen European Property Fundamental Index® Fund (the "Fund"). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. On 28 March 2017 (close of business) Kempen European Property Fundamental Index® Fund was terminated. The Netherlands Authority for the Financial Markets has been requested to remove Kempen European Property Fundamental Index® Fund from the register of registered investment funds.

‘Fundamental Index®’ and/or ‘Research Affiliates Fundamental Index®’ and/or ‘RAFI’ and/or all other RA trademarks, trade names patented and patent-pending concepts are the exclusive property of Research Affiliates, L.L.C.

KCM Vision

Kempen Capital Management is an asset manager with a long-term investment approach. We strongly believe in engaged shareholdership that benefits all stakeholders. As a long-term responsible investor, we firmly believe that active ownership and shareholder engagement contribute to positive change across the board.

Our KCM wide approach to responsible investment

To put our vision into action we engage with our investment targets on a wide array of strategic, financial, environmental, social and governance (ESG) topics. Our long-term investment worldview paired with thorough analysis and an experienced and diverse ESG team allow us to use both voting and engagement as means to consistently encourage positive change. Through this process of constructive engagement, we are able to contribute to the development of principles and standards of corporate responsibility within companies.

Kempen Capital Management N.V. (KCM) is the management company of Kempen European Property Fundamental Index® Fund (the "Fund"). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. On 28 March 2017 (close of business) Kempen European Property Fundamental Index® Fund was terminated. The Netherlands Authority for the Financial Markets has been requested to remove Kempen European Property Fundamental Index® Fund from the register of registered investment funds.

‘Fundamental Index®’ and/or ‘Research Affiliates Fundamental Index®’ and/or ‘RAFI’ and/or all other RA trademarks, trade names patented and patent-pending concepts are the exclusive property of Research Affiliates, L.L.C.