- Kempen
- Kempen Lux Global Sustainable Equity Fund - Class AN
Kempen (Lux) Global Sustainable Equity Fund - Class AN
Profile
Investments in the Fund are screened by an independent data provider to assess compliance with environmental, social and governance (ESG) criteria.
The Sub-Fund was known as Kempen (Lux) Global Sustainable Value Creation Fund until February 15, 2021.
Management team
Performance per 2022-03-31 (rebased)
Performance per 2022-03-31
Fund | Benchmark | |
---|---|---|
1 month | 2.0 % | 3.7 % |
3 months | -8.6 % | -3.1 % |
This year | -8.6 % | -3.1 % |
2019 | 33.9 % | 30.0 % |
2020 | 10.3 % | 6.3 % |
2021 | 35.8 % | 31.1 % |
1 year (on annual basis) | 12.5 % | 16.3 % |
3 years (on annual basis) i | 17.2 % | 15.3 % |
Since inception (on annual basis) i | 15.4 % | 13.3 % |
Key figures
Total fund size | EUR 19.14 M 2022-03-31 |
Share class size | EUR 1.85 M 2022-03-31 |
Number of shares | 44,697 2022-03-31 |
Net Asset Value i | EUR 39.29 2022-05-16 |
Fund characteristics per 2022-03-31
Fund | Benchmark | |
---|---|---|
Number of holdings | 41 | |
Dividend yield i | 1.25 % | 1.77 % |
Weighted average market capitalization i | EUR 278,007 M | EUR 405,621 M |
P/E ratio i | 22.59 | |
Active share i | 89.30 % |
The Sub-Fund was known as Kempen (Lux) Global Sustainable Value Creation Fund until February 15, 2021.
The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch, English and several other languages, see website) and the prospectus (available in English). These documents of the Fund are available at the registered office of the Fund located at 60, avenue J.F. Kennedy, L-1855, Luxembourg and on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English.
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.
Developments per 2022-03-31
The healthcare, financial and communication sectors made the largest positive contributions to the return, while the biggest negative contribution came from the IT sector. The allocation and selection effects were negative for the month.
Deere, LHC Group and Thermo Fisher accounted for the largest positive contributions to the result. UnitedHealth announced plans to acquire LHC Group. The company will pay US$170 per share in cash for LHC Group’s ordinary shares and the acquisition is expected to be completed in the second half of 2022, pending approval from LHC Group shareholders, regulatory bodies and under the usual terms and conditions.
Ferguson, Estée Lauder and Kion Group made the biggest negative contributions to the result. Jungheinrich, a direct peer of Kion Group, issued a profit warning. The persisting supply chain issues, which are expected to continue for much longer than originally anticipated, ongoing increases in material and logistics costs and recent Coronavirus lockdowns affecting Asian markets in particular made it impossible to maintain the outlook.
No changes were made to the portfolio in March.
***
What kind of companies do we seek?
We seek profitable companies undergoing structural growth that will create shareholder value in the long term alongside a clear social mandate. The best results are achieved if the interests of all the stakeholders are aligned. This requires not only products and services but also operations to be in line with the wishes and requirements of society (licence to operate). Moreover, the companies need to have sufficient opportunities for growth to be able to invest at an attractive return (innovation and expansion). In order to sustain earnings growth over the long term, companies need to enjoy sustainable competitive advantages compared to existing and new competitors (strong strategic position).
The role of management
We expect management to pursue a long-term strategy in addition to conducting sound day-to-day management. The risks and opportunities relating to ESG need to be clearly incorporated, backed up by sensible investment plans that respond to long-term trends and match the company’s strategic positioning and growth opportunities.
Quality and valuation
We believe the selected companies are above-average quality in terms of strategy and operations and are capable of creating long-term value for all stakeholders. Depending on the absolute valuation of their equities, they could form an interesting long-term addition to the portfolio.
ESG
ESG MSCI ratings
The portfolio has a clear overweight in the leaders (AAA/AA) and does not invest in the laggards (B/CCC).
Source: MSCI
KCM versus Sustainalytics ESG risk rating
The portfolio is not invested in companies with a high or severe ESG risk according to the KCM risk rating.
Source: Sustainalytics. KLGSEF* is according to KCM ESG risk rating, KLGSEF** is according to Sustainalytics ESG risk rating, MSCI World*** is according to ESG risk rating
SDG Solutions Exposure
The SDG Solutions Assessment identifies a product or service category’s contribution or obstruction towards attaining each of 15 individual sustainability objectives. A company has a score between -10 (significant obstruction) and +10 (significant contribution). The SDG Solutions score for the portfolio is 1.8 versus 0.9 for the benchmark.
Source: ISS
The Sub-Fund was known as Kempen (Lux) Global Sustainable Value Creation Fund until February 15, 2021.
The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch, English and several other languages, see website) and the prospectus (available in English). These documents of the Fund are available at the registered office of the Fund located at 60, avenue J.F. Kennedy, L-1855, Luxembourg and on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English.
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.
Performance per 2022-03-31 (rebased)
Performance per 2022-03-31
Fund | Benchmark | |
---|---|---|
1 month | 2.0 % | 3.7 % |
3 months | -8.6 % | -3.1 % |
This year | -8.6 % | -3.1 % |
2019 | 33.9 % | 30.0 % |
2020 | 10.3 % | 6.3 % |
2021 | 35.8 % | 31.1 % |
1 year (on annual basis) | 12.5 % | 16.3 % |
3 years (on annual basis) i | 17.2 % | 15.3 % |
Since inception (on annual basis) i | 15.4 % | 13.3 % |
Dividends
Distributing | No |
Risk analysis (ex post) per 2022-03-31
3 years | Since inception | |
---|---|---|
Maximum drawdown i | -12.57 % | -12.57 % |
Tracking error i | 4.70 % | 4.50 % |
Information ratio i | 0.39 | 0.46 |
Beta i | 1.03 | 1.01 |
The Sub-Fund was known as Kempen (Lux) Global Sustainable Value Creation Fund until February 15, 2021.
The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch, English and several other languages, see website) and the prospectus (available in English). These documents of the Fund are available at the registered office of the Fund located at 60, avenue J.F. Kennedy, L-1855, Luxembourg and on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English.
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.
Geographic allocation (2022-03-31)
Top 10 holdings (2022-03-31)
Sector allocation (2022-03-31)
The Sub-Fund was known as Kempen (Lux) Global Sustainable Value Creation Fund until February 15, 2021.
The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch, English and several other languages, see website) and the prospectus (available in English). These documents of the Fund are available at the registered office of the Fund located at 60, avenue J.F. Kennedy, L-1855, Luxembourg and on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English.
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.
Environmental and/or social characteristics promoted
We commit to the goals of the Paris Agreement. This encompasses short-term objectives (2025), a mid-term ambition (2030) and a long-term commitment to be a net zero investor by 2050. By 2025, we aim to be aligned with a path to achieving the Paris Agreement and Dutch Klimaatakkoord. We follow the pathway in line with the EU Paris Aligned Benchmark. At all times, we want to be below the Paris Aligned Benchmark.
Fund carbon emission targets
ESG Label

ESG Investment process
In the investment process we assess the ESG pro6le of a company. We look at each company on a case-by-case basis, taking into account material risks in a given industry in combination with the company’s respective risk exposure, practices and disclosure. This includes an assessment of good governance practices. The investee companies are rated for governance aspects using external research as well as making internal assessments. Furthermore, we look into the company’s exposure to past controversies and future ESG opportunities. Based on the fundamental ESG analysis we form an opinion on the quality of a company’s ESG pro6le and award a score (1-5). We apply adequate due diligence measures when selecting the assets and such due diligence measures take into account ESG related risks as it could help to enhance long-term risk adjusted returns for investors, in accordance with the investment objectives of the Fund.
Exclusion
Key figures
Kempen criteria | Additional criteria | |
---|---|---|
Business conduct | ||
Human Rights | ||
Labour | ||
Environment | ||
Anti Corruption | ||
Product involvement | ||
Controversial Weapons | ||
Tobacco | ||
Thermal Coal | ||
Tar Sands | ||
Adult Entertainment | ||
Alcohol | ||
Animal Welfare & GMO | ||
Gambling | ||
Power Generation Nuclear | ||
Power Generation Carbon Intensive | ||
(Un)conventional Oil & Gas Extraction | ||
Weaponry |
The Sub-Fund was known as Kempen (Lux) Global Sustainable Value Creation Fund until February 15, 2021.
The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch, English and several other languages, see website) and the prospectus (available in English). These documents of the Fund are available at the registered office of the Fund located at 60, avenue J.F. Kennedy, L-1855, Luxembourg and on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English.
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.
Ongoing charges
Management fee i | 0.750 % |
Service fee i | 0.20 % |
Taxe d'abonnement i | 0.05 % |
Expected ongoing charges i | 1.00% |
The Sub-Fund was known as Kempen (Lux) Global Sustainable Value Creation Fund until February 15, 2021.
The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch, English and several other languages, see website) and the prospectus (available in English). These documents of the Fund are available at the registered office of the Fund located at 60, avenue J.F. Kennedy, L-1855, Luxembourg and on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English.
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.
Share class details
Share class | AN i |
Investor type | Private |
Distributing | No |
Benchmark i | MSCI World Total Return Index Net (calculated in Euro's) |
Investment category | Sustainable Equity |
Universum | Global equity |
Inception date | 2018-09-13 |
Domicile | Luxembourg |
May be offered to all investors in | Belgium, France, Luxembourg, Switzerland, 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. |
Depositary and custodian | BNP Paribas Securities Services S.C.A., Luxembourg branch |
Tradability
Minimum subscription | Eerste inschrijving: € 1 |
Listed | no |
Subscription/Redemption Frequency | Dagelijks |
ISIN i | LU1857108150 |
The Sub-Fund was known as Kempen (Lux) Global Sustainable Value Creation Fund until February 15, 2021.
The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch, English and several other languages, see website) and the prospectus (available in English). These documents of the Fund are available at the registered office of the Fund located at 60, avenue J.F. Kennedy, L-1855, Luxembourg and on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English.
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.
Market update
Factsheets
Annual Reports
Semi- Annual Reports
Key Investor Information
Sustainability related disclosures
Formal documents other
The Sub-Fund was known as Kempen (Lux) Global Sustainable Value Creation Fund until February 15, 2021.
The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch, English and several other languages, see website) and the prospectus (available in English). These documents of the Fund are available at the registered office of the Fund located at 60, avenue J.F. Kennedy, L-1855, Luxembourg and on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English.
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.