Kempen Lux Global Sovereign Fundamental Index Fund Class BN

Profile

Kempen International Funds SICAV – Kempen (Lux) Global Sovereign Fundamental Index Fund (the Fund) aims to track its benchmark, the Citi RAFI Global Sovereign Fundamental Index.

Research Affiliates (RAFI) together with Citi Index have established a benchmark that values and weighs countries based on their economic footprint rather than the amount of their debt. Most of today’s indices and passive funds invest the heaviest in countries most deeply in debt. In contrast, the fundamentals used by Citi/RAFI assess the long term capacity of a country to repay their debt.

The fundamentals which determine the individual country weighting are GDP, Land Area, Population and Energy. The Citi RAFI Index provides a more diversified investment than traditional indices. The Fund invests closely aligned to its benchmark in global government bonds issued by investment grade countries.

Management team

Hans Kamminga, Kim Lubbers, Emma Weeder

Performance per 2017-08-31 (rebased)

No chart data available

Performance per 2017-08-31

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  Fund Benchmark
1 month 0.1 % 0.1 %
3 months -2.0 % -1.9 %
This year -3.6 % -3.4 %
2014 13.4 % 14.0 %
2015 5.2 % 5.4 %
2016 3.9 % 4.2 %
3 years (on annual basis) i 3.0 % 3.3 %
5 years (on annual basis) i 2.0 % 2.3 %
Since inception (on annual basis) i 2.5 % 2.8 %
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. As of 31 May 2015 a deviating Net Asset Value (NAV) is used for the calculation of the performance figures. This NAV is calculated based on closing prices of the Fund investments thereby deviating from the NAV which was originally issued and partly calculated based on snapshots (Asia & Pacific investments). The deviating NAV is used to make a better comparison with the benchmark, which is also solely based on closing prices of the investments.
More information can be found on the documents page of this fund

Key figures

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Total fund size
EUR 57.69 M 2017-08-31
Number of shares
873,814 2017-08-31
Net Asset Value i
EUR 49.73 2017-09-21
Morningstar rating â„¢

Fund characteristics per 2017-08-31

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  Fund Benchmark
Number of holdings 188 1010
Duration i 7.2 7.2
Yield to maturity 1.1 % 1.1 %
Kempen (Lux) Global Sovereign Fundamental Index Fund (the “Sub-Fund”) is a sub-fund of Kempen International Funds SICAV (the “Fund”), is domiciled in Luxembourg. This Fund is authorised in Luxembourg and is regulated by the Commission de Surveillance du Secteur Financier. Kempen Capital Management N.V. (KCM) is the management company of the Fund. KCM is authorised as management company and regulated by The Netherlands Authority for the Financial Markets. The Sub-Fund is registered with The Netherlands Authority for the Financial Markets under the license of the Fund.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents of the Fund are available at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg and on the website of KCM (www.kempen.com/investmentfunds).

The Sub-Fund is registered for offering in a limited number of countries. The countries where the Sub-Fund is registered can be found on the website. The value of your investment may fluctuate. Past performance provides no guarantee for the future.

Citigroup Index LLC is a trademark and service mark of Citigroup Inc. or its affiliates, is used and registered throughout the world, and is used under license for certain purposes by Kempen Capital Management N.V. as (investment) manager. Kempen (Lux) Global Sovereign Fundamental Index® Fund is not sponsored, endorsed, sold or promoted by Citigroup Index LLC (“Citi”), and Citi makes no representation to the prospective owners of shares of the Fund regarding the advisability of investing in securities generally or the Fund particularly. Citi does not guarantee the accuracy, adequacy, completeness or availability of any index data and information and in no event shall Citi have any liability in connection with any use of such data and information. CITI GIVES NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. The trade names Fundamental Index®, RAFI®, the RAFI logo, and the Research Affiliates corporate name and logo are the exclusive intellectual property of Research Affiliates, LLC and are registered trademarks in the United States and other countries. The prospectus contains additional disclaimers which apply to Citigroup and Research Affilliates.

Market developments per 2017-08-31

For much of August, the market was focused on the rising tensions between North Korea and the US. Geopolitical risk increased as the leaders of the two countries periodically exchanged threats. Besides this there are increasing struggles within the US administration, and the challenge of the re-emerging debt ceiling debate.

The market was looking for any monetary policy hints at Jackson Hole, but the speeches of Draghi and Yellen provided no explicit comments about the future path of monetary policy. Draghi remained silent on EUR strength, and the EUR rallied further after this speech. It did eventually break 1.20, hitting a 31-month high. The market took Yellen’s speech as a dovish outcome versus expectations and yields fell.

Also supportive for the euro was the better than expected economic- and inflation data in the Eurozone. The inflation rate in the Euro area increased slightly from 1.3% to 1.5% in August, and the euro-area economic confidence rose to the highest level in a decade. Economic data in the US were a bit more mixed. The US CPI was lower than expected, but there is a positive sentiment in surveys for consumers, homebuilders and the manufacturing sector.

Markets expect Draghi to bring more clarity on the form and timing of the tapering of the ECB’s Asset Purchase Program in autumn. Question is how concerned the ECB is about the euro appreciation, and what impact this will have on the future monetary policy of the ECB.

In August the Fundamental Index had an absolute performance of 0.1%. Among the worst performers were several Asian countries as well as New Zealand and Australia with a performance of -4.74% and -1.55% respectively in Euro terms. European countries contributed with positive performance as well as the Nordic countries and Switzerland.
Kempen (Lux) Global Sovereign Fundamental Index Fund (the “Sub-Fund”) is a sub-fund of Kempen International Funds SICAV (the “Fund”), is domiciled in Luxembourg. This Fund is authorised in Luxembourg and is regulated by the Commission de Surveillance du Secteur Financier. Kempen Capital Management N.V. (KCM) is the management company of the Fund. KCM is authorised as management company and regulated by The Netherlands Authority for the Financial Markets. The Sub-Fund is registered with The Netherlands Authority for the Financial Markets under the license of the Fund.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents of the Fund are available at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg and on the website of KCM (www.kempen.com/investmentfunds).

The Sub-Fund is registered for offering in a limited number of countries. The countries where the Sub-Fund is registered can be found on the website. The value of your investment may fluctuate. Past performance provides no guarantee for the future.

Citigroup Index LLC is a trademark and service mark of Citigroup Inc. or its affiliates, is used and registered throughout the world, and is used under license for certain purposes by Kempen Capital Management N.V. as (investment) manager. Kempen (Lux) Global Sovereign Fundamental Index® Fund is not sponsored, endorsed, sold or promoted by Citigroup Index LLC (“Citi”), and Citi makes no representation to the prospective owners of shares of the Fund regarding the advisability of investing in securities generally or the Fund particularly. Citi does not guarantee the accuracy, adequacy, completeness or availability of any index data and information and in no event shall Citi have any liability in connection with any use of such data and information. CITI GIVES NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. The trade names Fundamental Index®, RAFI®, the RAFI logo, and the Research Affiliates corporate name and logo are the exclusive intellectual property of Research Affiliates, LLC and are registered trademarks in the United States and other countries. The prospectus contains additional disclaimers which apply to Citigroup and Research Affilliates.

Performance per 2017-08-31 (rebased)

No chart data available

Performance per 2017-08-31

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  Fund Benchmark
1 month 0.1 % 0.1 %
3 months -2.0 % -1.9 %
This year -3.6 % -3.4 %
2014 13.4 % 14.0 %
2015 5.2 % 5.4 %
2016 3.9 % 4.2 %
3 years (on annual basis) i 3.0 % 3.3 %
5 years (on annual basis) i 2.0 % 2.3 %
Since inception (on annual basis) i 2.5 % 2.8 %
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. As of 31 May 2015 a deviating Net Asset Value (NAV) is used for the calculation of the performance figures. This NAV is calculated based on closing prices of the Fund investments thereby deviating from the NAV which was originally issued and partly calculated based on snapshots (Asia & Pacific investments). The deviating NAV is used to make a better comparison with the benchmark, which is also solely based on closing prices of the investments.

Dividends

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Distributing
Yes
Last dividend
EUR 1.10
Ex-date last dividend
2017-07-10
Number of distributions per year
2
Dividend calendar
Kempen (Lux) Global Sovereign Fundamental Index Fund (the “Sub-Fund”) is a sub-fund of Kempen International Funds SICAV (the “Fund”), is domiciled in Luxembourg. This Fund is authorised in Luxembourg and is regulated by the Commission de Surveillance du Secteur Financier. Kempen Capital Management N.V. (KCM) is the management company of the Fund. KCM is authorised as management company and regulated by The Netherlands Authority for the Financial Markets. The Sub-Fund is registered with The Netherlands Authority for the Financial Markets under the license of the Fund.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents of the Fund are available at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg and on the website of KCM (www.kempen.com/investmentfunds).

The Sub-Fund is registered for offering in a limited number of countries. The countries where the Sub-Fund is registered can be found on the website. The value of your investment may fluctuate. Past performance provides no guarantee for the future.

Citigroup Index LLC is a trademark and service mark of Citigroup Inc. or its affiliates, is used and registered throughout the world, and is used under license for certain purposes by Kempen Capital Management N.V. as (investment) manager. Kempen (Lux) Global Sovereign Fundamental Index® Fund is not sponsored, endorsed, sold or promoted by Citigroup Index LLC (“Citi”), and Citi makes no representation to the prospective owners of shares of the Fund regarding the advisability of investing in securities generally or the Fund particularly. Citi does not guarantee the accuracy, adequacy, completeness or availability of any index data and information and in no event shall Citi have any liability in connection with any use of such data and information. CITI GIVES NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. The trade names Fundamental Index®, RAFI®, the RAFI logo, and the Research Affiliates corporate name and logo are the exclusive intellectual property of Research Affiliates, LLC and are registered trademarks in the United States and other countries. The prospectus contains additional disclaimers which apply to Citigroup and Research Affilliates.

Maturity profile (2017-08-31)

Fund
Benchmark
24.2 %
0-3 year
25.3 %
20.3 %
3-5 year
19.6 %
10.8 %
5-7 year
13.5 %
18.5 %
7-10 year
14.7 %
25.8 %
> 10 year
27.0 %
0.5 %
Cash
0.0 %
Totaal
100 %
100 %

Top 10 holdings (2017-08-31)

3.1 %
2.000% US Treasury 2012-22
2.9 %
2.625% US Treasury 2010-20
2.5 %
3.125% US Treasury 2014-44
2.1 %
1.625% US Treasury 2014-19
1.9 %
2.000% US Treasury 2011-21
1.7 %
1.500% US Treasury 2011-18
1.6 %
1.500% Japan 2014-34
1.6 %
4.750% Australie 2011-27
1.5 %
4.250% Engeland 2005-55
1.4 %
6.500% US Treasury 1997-26
Totaal
20.5 %

Geographic allocation (2017-08-31)

21.2 %
The United States
7.7 %
Japan
7.7 %
Canada
6.9 %
Germany
6.3 %
Australia
6.0 %
France
5.2 %
United Kingdom
5.2 %
Italy
4.6 %
Spain
4.5 %
Korea Republic Of
2.7 %
Sweden
2.5 %
The Netherlands
2.3 %
Norway
2.0 %
Czech Republic
2.0 %
Finland
1.9 %
Belgium
1.9 %
Austria
1.8 %
New Zealand
1.6 %
Switzerland
1.5 %
Singapore
1.5 %
Israel
1.4 %
Ireland
1.4 %
Denmark
0.5 %
Cash
Totaal
100 %
Kempen (Lux) Global Sovereign Fundamental Index Fund (the “Sub-Fund”) is a sub-fund of Kempen International Funds SICAV (the “Fund”), is domiciled in Luxembourg. This Fund is authorised in Luxembourg and is regulated by the Commission de Surveillance du Secteur Financier. Kempen Capital Management N.V. (KCM) is the management company of the Fund. KCM is authorised as management company and regulated by The Netherlands Authority for the Financial Markets. The Sub-Fund is registered with The Netherlands Authority for the Financial Markets under the license of the Fund.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents of the Fund are available at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg and on the website of KCM (www.kempen.com/investmentfunds).

The Sub-Fund is registered for offering in a limited number of countries. The countries where the Sub-Fund is registered can be found on the website. The value of your investment may fluctuate. Past performance provides no guarantee for the future.

Citigroup Index LLC is a trademark and service mark of Citigroup Inc. or its affiliates, is used and registered throughout the world, and is used under license for certain purposes by Kempen Capital Management N.V. as (investment) manager. Kempen (Lux) Global Sovereign Fundamental Index® Fund is not sponsored, endorsed, sold or promoted by Citigroup Index LLC (“Citi”), and Citi makes no representation to the prospective owners of shares of the Fund regarding the advisability of investing in securities generally or the Fund particularly. Citi does not guarantee the accuracy, adequacy, completeness or availability of any index data and information and in no event shall Citi have any liability in connection with any use of such data and information. CITI GIVES NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. The trade names Fundamental Index®, RAFI®, the RAFI logo, and the Research Affiliates corporate name and logo are the exclusive intellectual property of Research Affiliates, LLC and are registered trademarks in the United States and other countries. The prospectus contains additional disclaimers which apply to Citigroup and Research Affilliates.

Ongoing charges

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Management fee i
0.20 %
Service fee i
0.10 %
Expected ongoing charges i
0,3 %

Other costs

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Upward swing factor i
0.10 %
Downward swing factor i
0.10 %
More about our swing pricing policy
Kempen (Lux) Global Sovereign Fundamental Index Fund (the “Sub-Fund”) is a sub-fund of Kempen International Funds SICAV (the “Fund”), is domiciled in Luxembourg. This Fund is authorised in Luxembourg and is regulated by the Commission de Surveillance du Secteur Financier. Kempen Capital Management N.V. (KCM) is the management company of the Fund. KCM is authorised as management company and regulated by The Netherlands Authority for the Financial Markets. The Sub-Fund is registered with The Netherlands Authority for the Financial Markets under the license of the Fund.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents of the Fund are available at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg and on the website of KCM (www.kempen.com/investmentfunds).

The Sub-Fund is registered for offering in a limited number of countries. The countries where the Sub-Fund is registered can be found on the website. The value of your investment may fluctuate. Past performance provides no guarantee for the future.

Citigroup Index LLC is a trademark and service mark of Citigroup Inc. or its affiliates, is used and registered throughout the world, and is used under license for certain purposes by Kempen Capital Management N.V. as (investment) manager. Kempen (Lux) Global Sovereign Fundamental Index® Fund is not sponsored, endorsed, sold or promoted by Citigroup Index LLC (“Citi”), and Citi makes no representation to the prospective owners of shares of the Fund regarding the advisability of investing in securities generally or the Fund particularly. Citi does not guarantee the accuracy, adequacy, completeness or availability of any index data and information and in no event shall Citi have any liability in connection with any use of such data and information. CITI GIVES NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. The trade names Fundamental Index®, RAFI®, the RAFI logo, and the Research Affiliates corporate name and logo are the exclusive intellectual property of Research Affiliates, LLC and are registered trademarks in the United States and other countries. The prospectus contains additional disclaimers which apply to Citigroup and Research Affilliates.

Share class details

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Share class
BN i
Investor type
Private
Distributing
Yes
Benchmark i
Citi RAFI Sovereign Developed Markets Bond Index Master
Duration hedged
No
Investment category
Fundamental Indexation
Universum
Global government bonds
Inception date
2012-06-20
Domicile
Luxembourg
May be offered to all investors in
Belgium, Finland, Germany, Luxembourg, Sweden, The Netherlands, United Kingdom
UCITS status i
Yes
Status
Open-end i
Base currency
EUR
Share class currency
EUR
Management company
Kempen Capital Management N.V.
Custodian
J.P. Morgan Bank Luxembourg S.A.
Morningstar rating â„¢

Tradability

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Minimum subscription
Initial subscription €1,000
Listed
yes, listed on the Luxembourg Stock Exchange
Pricing frequency
Daily
ISIN i
LU0772265244
Kempen (Lux) Global Sovereign Fundamental Index Fund (the “Sub-Fund”) is a sub-fund of Kempen International Funds SICAV (the “Fund”), is domiciled in Luxembourg. This Fund is authorised in Luxembourg and is regulated by the Commission de Surveillance du Secteur Financier. Kempen Capital Management N.V. (KCM) is the management company of the Fund. KCM is authorised as management company and regulated by The Netherlands Authority for the Financial Markets. The Sub-Fund is registered with The Netherlands Authority for the Financial Markets under the license of the Fund.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents of the Fund are available at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg and on the website of KCM (www.kempen.com/investmentfunds).

The Sub-Fund is registered for offering in a limited number of countries. The countries where the Sub-Fund is registered can be found on the website. The value of your investment may fluctuate. Past performance provides no guarantee for the future.

Citigroup Index LLC is a trademark and service mark of Citigroup Inc. or its affiliates, is used and registered throughout the world, and is used under license for certain purposes by Kempen Capital Management N.V. as (investment) manager. Kempen (Lux) Global Sovereign Fundamental Index® Fund is not sponsored, endorsed, sold or promoted by Citigroup Index LLC (“Citi”), and Citi makes no representation to the prospective owners of shares of the Fund regarding the advisability of investing in securities generally or the Fund particularly. Citi does not guarantee the accuracy, adequacy, completeness or availability of any index data and information and in no event shall Citi have any liability in connection with any use of such data and information. CITI GIVES NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. The trade names Fundamental Index®, RAFI®, the RAFI logo, and the Research Affiliates corporate name and logo are the exclusive intellectual property of Research Affiliates, LLC and are registered trademarks in the United States and other countries. The prospectus contains additional disclaimers which apply to Citigroup and Research Affilliates.
Kempen (Lux) Global Sovereign Fundamental Index Fund (the “Sub-Fund”) is a sub-fund of Kempen International Funds SICAV (the “Fund”), is domiciled in Luxembourg. This Fund is authorised in Luxembourg and is regulated by the Commission de Surveillance du Secteur Financier. Kempen Capital Management N.V. (KCM) is the management company of the Fund. KCM is authorised as management company and regulated by The Netherlands Authority for the Financial Markets. The Sub-Fund is registered with The Netherlands Authority for the Financial Markets under the license of the Fund.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents of the Fund are available at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg and on the website of KCM (www.kempen.com/investmentfunds).

The Sub-Fund is registered for offering in a limited number of countries. The countries where the Sub-Fund is registered can be found on the website. The value of your investment may fluctuate. Past performance provides no guarantee for the future.

Citigroup Index LLC is a trademark and service mark of Citigroup Inc. or its affiliates, is used and registered throughout the world, and is used under license for certain purposes by Kempen Capital Management N.V. as (investment) manager. Kempen (Lux) Global Sovereign Fundamental Index® Fund is not sponsored, endorsed, sold or promoted by Citigroup Index LLC (“Citi”), and Citi makes no representation to the prospective owners of shares of the Fund regarding the advisability of investing in securities generally or the Fund particularly. Citi does not guarantee the accuracy, adequacy, completeness or availability of any index data and information and in no event shall Citi have any liability in connection with any use of such data and information. CITI GIVES NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. The trade names Fundamental Index®, RAFI®, the RAFI logo, and the Research Affiliates corporate name and logo are the exclusive intellectual property of Research Affiliates, LLC and are registered trademarks in the United States and other countries. The prospectus contains additional disclaimers which apply to Citigroup and Research Affilliates.

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.

Fund approach to Responsible Investment

In addition to the fundamental factors, the fund also applies two Environmental, Social and Governance (ESG) criteria. The first criterion eliminates companies from the universe, which structurally violate fundamental ESG criteria, as established by the UN Global Compact (see more information about the UN Global Compact here). We build this factor on the knowledge and long-standing expertise of our external ESG data provider MSCI ESG Research, which allocates companies into "Pass", "Watch List" and "Fail" categories. We exclude all "Fail" companies out of our universe.

In addition, companies lagging behind the sector in their managing of ESG risks, are also excluded. Based on the MSCI ESG Research, we exclude companies with a CCC rating (on the AAA-CCC scale, AAA being the best-performing companies, and CCC being the worst performers).

This approach allows us to create an effective tilt towards the better ESG performers, which is in line with our belief that in the long-term companies with good ESG practices in places outperform the laggards.

Kempen (Lux) Global Sovereign Fundamental Index Fund (the “Sub-Fund”) is a sub-fund of Kempen International Funds SICAV (the “Fund”), is domiciled in Luxembourg. This Fund is authorised in Luxembourg and is regulated by the Commission de Surveillance du Secteur Financier. Kempen Capital Management N.V. (KCM) is the management company of the Fund. KCM is authorised as management company and regulated by The Netherlands Authority for the Financial Markets. The Sub-Fund is registered with The Netherlands Authority for the Financial Markets under the license of the Fund.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents of the Fund are available at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg and on the website of KCM (www.kempen.com/investmentfunds).

The Sub-Fund is registered for offering in a limited number of countries. The countries where the Sub-Fund is registered can be found on the website. The value of your investment may fluctuate. Past performance provides no guarantee for the future.

Citigroup Index LLC is a trademark and service mark of Citigroup Inc. or its affiliates, is used and registered throughout the world, and is used under license for certain purposes by Kempen Capital Management N.V. as (investment) manager. Kempen (Lux) Global Sovereign Fundamental Index® Fund is not sponsored, endorsed, sold or promoted by Citigroup Index LLC (“Citi”), and Citi makes no representation to the prospective owners of shares of the Fund regarding the advisability of investing in securities generally or the Fund particularly. Citi does not guarantee the accuracy, adequacy, completeness or availability of any index data and information and in no event shall Citi have any liability in connection with any use of such data and information. CITI GIVES NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. The trade names Fundamental Index®, RAFI®, the RAFI logo, and the Research Affiliates corporate name and logo are the exclusive intellectual property of Research Affiliates, LLC and are registered trademarks in the United States and other countries. The prospectus contains additional disclaimers which apply to Citigroup and Research Affilliates.