- Kempen
- Kempen Lux Sustainable European Small Cap Fund Class I GBP
Kempen Lux Sustainable European Small-Cap Fund - Class I - GBP
Profile
Kempen International Funds SICAV – the Kempen (Lux) European Small-cap Fund (the Fund) manages a bottom-up investment process to a concentrated portfolio containing relatively high-quality, small European businesses, with the aim of earning an attractive return in the long term. Quality companies have a proven and sustainable competitive edge that expresses itself in a high return on the invested capital and above-average earnings growth, and the fund manager believes that consistent investment results can be achieved via an investment philosophy that focuses on these aspects.
The Fund only invests when risk and reward are asymmetrically related. The Fund ontly invests in companies that adhere to strict sustainability criteria integrating environmental, ethical, and social standards. This shareclass (I-GBP) is not active yet.
The Fund only invests when risk and reward are asymmetrically related. The Fund ontly invests in companies that adhere to strict sustainability criteria integrating environmental, ethical, and social standards. This shareclass (I-GBP) is not active yet.
Management team
Michiel van Dijk, Erwin Dut, Sander van Oort; Ingmar Schaefer
Performance per 2019-01-31 (rebased)
Performance per 2019-01-31
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| Fund | Benchmark | |
|---|---|---|
| 1 month | 3.8 % | 5.9 % |
| 3 months | -2.2 % | -3.1 % |
| This year | 3.8 % | 5.9 % |
| 2016 | 15.1 % | 19.5 % |
| 2017 | 16.6 % | 23.8 % |
| 2018 | -17.4 % | -14.9 % |
| 1 year (on annual basis) | -13.5 % | -10.4 % |
| 3 years (on annual basis) i | 6.8 % | 11.8 % |
| 5 years (on annual basis) i | 6.2 % | 9.4 % |
| Since inception (on annual basis) i | 12.8 % | 12.0 % |
On 23 October 2013 Kempen SeNSe Fund (KSF) was merged with Kempen (Lux) Sustainable European Small-cap Fund (the Fund). In June 2011 the first institutional class of the Fund was launched. The results shown of the periods before June 2011 are those of KSF. KSF had a similar investment structure, a higher cost structure and a different tax regime that could have influenced the returns shown. Until 28 February 2017 the benchmark of the Fund was the MSCI Europe Small Cap Total Return Index, of which the constituents are adjusted by reducing the UK component by 50%. 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 209.17 M 2019-01-31 |
| Share class size | GBP 0.04 M 2019-01-31 |
| Number of shares | 32 2019-01-31 |
| Net Asset Value i | GBP 1,278.19 2019-02-19 |
| Morningstar rating â„¢ | |
Fund characteristics per 2019-01-31
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| Fund | Benchmark | |
|---|---|---|
| Number of holdings | 36 | 997 |
| Dividend yield i | 2.96 % | 2.75 % |
| Weighted average market capitalization i | EUR 2,002 M | EUR 2,622 M |
| P/E ratio i | 15.92 | 14.04 |
| Active share i | 96.10 % |
Kempen (Lux) Sustainable European Small-cap Fund (the “Sub-Fundâ€) is a sub-fund of Kempen International Funds SICAV (the “Fundâ€), 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.
Paying agent and representative in Switzerland is RBC Investor Services Bank S.A., Bleicherweg 7, CH-8027 Zurich, Switzerland. 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 as well as annual report, semi-annual report and the articles of incorporation of the Fund are available free of charge at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg, at the offices of the representative in Switzerland 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. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units.
Paying agent and representative in Switzerland is RBC Investor Services Bank S.A., Bleicherweg 7, CH-8027 Zurich, Switzerland. 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 as well as annual report, semi-annual report and the articles of incorporation of the Fund are available free of charge at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg, at the offices of the representative in Switzerland 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. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units.
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Market developments per 2019-01-31
The Fund has increased in value by 6.9% in January underperforming the benchmark by 2.1% attributed to stock selection.
Portfolio developments per 2019-01-31
In December we have expanded our portfolio with three new names: Fabege, Beazley and Coats Group. During January we increased the weight of these three names and added another new name to our portfolio which is relatively small. There were no complete sales during January.
The best performing companies were Greggs, Dunelm and Safestore. Greggs (+26%) reported a stronger than expected like-for-like sales growth acceleration to 4.2% in 2H18 from 1.5% in 1H18 in its January trading update. A strong 5.2% like-for-like sales growth for December shows that sales momentum following earlier marketing and product investments is paying off and triggers further earnings upgrades. Dunelm (+38%) reported a much stronger than expected acceleration in like-for-like store sales growth to +5.7% versus +1.3% in the previous quarter in its January trading update suggesting that increased focus on its core Dunelm proposition is paying off. Safestore (+17%) released its annual report and gave a trading update. Safestore has indicated towards a strong beginning of their 2018/19 financial year with the first two months to December already seeing +6.4% like-for-like revenue growth.
Weakest performers were Mekonomen, Sweco and Gym group. Mekonomen (-23%) experienced slow trading in all regions during the fourth quarter, which lead to a pre-announcement in January. Although the weak results were largely anticipated by the market, the lower earnings continue to put pressure on the financial debt ratios, despite the equity raise that was completed a few months ago. Sweco (-8%) announced the departure of CFO Jonas Dahlberg. Mr Dahlberg was appointed in 2012, and he was one of the architects of the successful acquisition and integration of Grontmij, Sweco’s largest acquisition in history. No successor has been appointed yet. Gym group (-20%) reported a weaker than expected membership growth due to back-end loaded club openings and downtime due to site conversions following earlier M&A. Management is optimistic about future growth prospects and guides for 15-20 new club openings for FY19.
ESG commentary: with the Shareholder Rights Directive becoming legally binding in the EU members states in 2019, investors continue to promote the importance of transparency along the investment value chain. Transparency has always been a key driver of our sustainability scoring. One of our portfolio companies, Ascom Holding AG, improved its score from a provisional to a pass, due to its increased disclosure around environmental policies and certifications. Following on from the recent engagements related to data protection, the company recently put in place a data protection officer to improve compliance in this area.
The best performing companies were Greggs, Dunelm and Safestore. Greggs (+26%) reported a stronger than expected like-for-like sales growth acceleration to 4.2% in 2H18 from 1.5% in 1H18 in its January trading update. A strong 5.2% like-for-like sales growth for December shows that sales momentum following earlier marketing and product investments is paying off and triggers further earnings upgrades. Dunelm (+38%) reported a much stronger than expected acceleration in like-for-like store sales growth to +5.7% versus +1.3% in the previous quarter in its January trading update suggesting that increased focus on its core Dunelm proposition is paying off. Safestore (+17%) released its annual report and gave a trading update. Safestore has indicated towards a strong beginning of their 2018/19 financial year with the first two months to December already seeing +6.4% like-for-like revenue growth.
Weakest performers were Mekonomen, Sweco and Gym group. Mekonomen (-23%) experienced slow trading in all regions during the fourth quarter, which lead to a pre-announcement in January. Although the weak results were largely anticipated by the market, the lower earnings continue to put pressure on the financial debt ratios, despite the equity raise that was completed a few months ago. Sweco (-8%) announced the departure of CFO Jonas Dahlberg. Mr Dahlberg was appointed in 2012, and he was one of the architects of the successful acquisition and integration of Grontmij, Sweco’s largest acquisition in history. No successor has been appointed yet. Gym group (-20%) reported a weaker than expected membership growth due to back-end loaded club openings and downtime due to site conversions following earlier M&A. Management is optimistic about future growth prospects and guides for 15-20 new club openings for FY19.
ESG commentary: with the Shareholder Rights Directive becoming legally binding in the EU members states in 2019, investors continue to promote the importance of transparency along the investment value chain. Transparency has always been a key driver of our sustainability scoring. One of our portfolio companies, Ascom Holding AG, improved its score from a provisional to a pass, due to its increased disclosure around environmental policies and certifications. Following on from the recent engagements related to data protection, the company recently put in place a data protection officer to improve compliance in this area.
Kempen (Lux) Sustainable European Small-cap Fund (the “Sub-Fundâ€) is a sub-fund of Kempen International Funds SICAV (the “Fundâ€), 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.
Paying agent and representative in Switzerland is RBC Investor Services Bank S.A., Bleicherweg 7, CH-8027 Zurich, Switzerland. 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 as well as annual report, semi-annual report and the articles of incorporation of the Fund are available free of charge at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg, at the offices of the representative in Switzerland 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. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units.
Paying agent and representative in Switzerland is RBC Investor Services Bank S.A., Bleicherweg 7, CH-8027 Zurich, Switzerland. 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 as well as annual report, semi-annual report and the articles of incorporation of the Fund are available free of charge at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg, at the offices of the representative in Switzerland 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. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units.
More information?
Performance per 2019-01-31 (rebased)
Performance per 2019-01-31
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| Fund | Benchmark | |
|---|---|---|
| 1 month | 3.8 % | 5.9 % |
| 3 months | -2.2 % | -3.1 % |
| This year | 3.8 % | 5.9 % |
| 2016 | 15.1 % | 19.5 % |
| 2017 | 16.6 % | 23.8 % |
| 2018 | -17.4 % | -14.9 % |
| 1 year (on annual basis) | -13.5 % | -10.4 % |
| 3 years (on annual basis) i | 6.8 % | 11.8 % |
| 5 years (on annual basis) i | 6.2 % | 9.4 % |
| Since inception (on annual basis) i | 12.8 % | 12.0 % |
On 23 October 2013 Kempen SeNSe Fund (KSF) was merged with Kempen (Lux) Sustainable European Small-cap Fund (the Fund). In June 2011 the first institutional class of the Fund was launched. The results shown of the periods before June 2011 are those of KSF. KSF had a similar investment structure, a higher cost structure and a different tax regime that could have influenced the returns shown. Until 28 February 2017 the benchmark of the Fund was the MSCI Europe Small Cap Total Return Index, of which the constituents are adjusted by reducing the UK component by 50%. 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 2019-01-31
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| 3 years | Since inception | |
|---|---|---|
| Maximum drawdown i | -17.96 % | -50.27 % |
| Tracking error i | 4.88 % | 5.08 % |
| Information ratio i | -1.03 | 0.16 |
| Beta i | 0.90 |
Kempen (Lux) Sustainable European Small-cap Fund (the “Sub-Fundâ€) is a sub-fund of Kempen International Funds SICAV (the “Fundâ€), 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.
Paying agent and representative in Switzerland is RBC Investor Services Bank S.A., Bleicherweg 7, CH-8027 Zurich, Switzerland. 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 as well as annual report, semi-annual report and the articles of incorporation of the Fund are available free of charge at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg, at the offices of the representative in Switzerland 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. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units.
Paying agent and representative in Switzerland is RBC Investor Services Bank S.A., Bleicherweg 7, CH-8027 Zurich, Switzerland. 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 as well as annual report, semi-annual report and the articles of incorporation of the Fund are available free of charge at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg, at the offices of the representative in Switzerland 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. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units.
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Top 5 contribution (2019-01-31)
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| Contribution i | Performance i | |
|---|---|---|
| Greggs | 1.11 % | 25.92 % |
| Dunelm Group | 0.87 % | 36.88 % |
| Safestore | 0.62 % | 17.20 % |
| BE Semiconductor Industries | 0.51 % | 22.63 % |
| Aurelius | 0.49 % | 17.89 % |
Percentages shown for contributions and performances are based on Euros.
Bottom 5 contribution (2019-01-31)
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| Contribution i | Performance i | |
|---|---|---|
| Mekonomen | -0.46 % | -23.09 % |
| Sweco AB | -0.31 % | -7.98 % |
| Gym Group | -0.24 % | -20.11 % |
| Hill & Smith | -0.20 % | -5.49 % |
| Ascom | -0.15 % | -7.16 % |
Percentages shown for contributions and performances are based on Euros.
Geographic allocation (2019-01-31)
37.6 %
United Kingdom
9.2 %
Sweden
8.6 %
Finland
7.6 %
Germany
6.9 %
Italy
6.7 %
Spain
6.7 %
Switzerland
5.3 %
Netherlands
3.4 %
Ireland
3.1 %
Denmark
1.7 %
Belgium
0.5 %
Luxembourg
2.7 %
Cash
Totaal
100 %
Top 10 holdings (2019-01-31)
4.9 %
Greggs
4.3 %
Amer Sports
4.3 %
Huhtamaki
4.2 %
Safestore
3.8 %
Industria Macchine Automatiche
3.8 %
Rotork
3.7 %
Hilton Food Group
3.6 %
Hill & Smith
3.6 %
Viscofan
3.5 %
Sweco
Totaal
39.8 %
Sector allocation (2019-01-31)
30.1 %
Industrial Goods & Services
13.5 %
Technology
11.8 %
Retail
8.8 %
Food & Beverage
8.2 %
Automobiles & Parts
5.9 %
Personal & Household Goods
4.3 %
Insurance
4.2 %
England
3.7 %
Health Care
2.7 %
Financial Services
2.7 %
Other
4.1 %
Overig
Totaal
100 %
Kempen (Lux) Sustainable European Small-cap Fund (the “Sub-Fundâ€) is a sub-fund of Kempen International Funds SICAV (the “Fundâ€), 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.
Paying agent and representative in Switzerland is RBC Investor Services Bank S.A., Bleicherweg 7, CH-8027 Zurich, Switzerland. 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 as well as annual report, semi-annual report and the articles of incorporation of the Fund are available free of charge at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg, at the offices of the representative in Switzerland 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. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units.
Paying agent and representative in Switzerland is RBC Investor Services Bank S.A., Bleicherweg 7, CH-8027 Zurich, Switzerland. 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 as well as annual report, semi-annual report and the articles of incorporation of the Fund are available free of charge at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg, at the offices of the representative in Switzerland 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. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units.
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Ongoing charges
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| Management fee i | 0.70 % |
| Service fee i | 0.20 % |
| Taxe d'abonnement i | 0.01 % |
| Expected ongoing charges i | 0.91 % |
Other costs
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| Upward swing factor i | 0.45 % |
| Downward swing factor i | 0.25 % |
As of 14 January 2019 the swing factor has been adjusted from 0.50%/0.30% to 0.45%/0.25%.
Kempen (Lux) Sustainable European Small-cap Fund (the “Sub-Fundâ€) is a sub-fund of Kempen International Funds SICAV (the “Fundâ€), 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.
Paying agent and representative in Switzerland is RBC Investor Services Bank S.A., Bleicherweg 7, CH-8027 Zurich, Switzerland. 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 as well as annual report, semi-annual report and the articles of incorporation of the Fund are available free of charge at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg, at the offices of the representative in Switzerland 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. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units.
Paying agent and representative in Switzerland is RBC Investor Services Bank S.A., Bleicherweg 7, CH-8027 Zurich, Switzerland. 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 as well as annual report, semi-annual report and the articles of incorporation of the Fund are available free of charge at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg, at the offices of the representative in Switzerland 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. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units.
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Share class details
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| Share class | I - GBP i |
| Investor type | Institutional |
| Distributing | No |
| Benchmark i | MSCI Europe Small Cap Total Return Index |
| Investment category | Small-caps |
| Universum | Sustainable European Small- & Mid-caps |
| Inception date | 2015-10-09 |
| Domicile | Luxembourg |
| May be offered to professional investors only in | Luxembourg, Switzerland, The Netherlands, United Kingdom |
| UCITS status i | Yes |
| Status | Open-end i |
| Base currency | EUR |
| Share class currency | GBP |
| 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: €50,000, additional subscriptions: €10,000 |
| Listed | no |
| Subscription/Redemption Frequency | Daily |
| ISIN i | LU1284756050 |
Kempen (Lux) Sustainable European Small-cap Fund (the “Sub-Fundâ€) is a sub-fund of Kempen International Funds SICAV (the “Fundâ€), 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.
Paying agent and representative in Switzerland is RBC Investor Services Bank S.A., Bleicherweg 7, CH-8027 Zurich, Switzerland. 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 as well as annual report, semi-annual report and the articles of incorporation of the Fund are available free of charge at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg, at the offices of the representative in Switzerland 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. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units.
Paying agent and representative in Switzerland is RBC Investor Services Bank S.A., Bleicherweg 7, CH-8027 Zurich, Switzerland. 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 as well as annual report, semi-annual report and the articles of incorporation of the Fund are available free of charge at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg, at the offices of the representative in Switzerland 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. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units.
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Factsheets
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Annual Reports
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Semi- Annual Reports
Key Investor Information
ESG Publications
Voting records
Formal documents other
Other
Kempen (Lux) Sustainable European Small-cap Fund (the “Sub-Fundâ€) is a sub-fund of Kempen International Funds SICAV (the “Fundâ€), 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.
Paying agent and representative in Switzerland is RBC Investor Services Bank S.A., Bleicherweg 7, CH-8027 Zurich, Switzerland. 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 as well as annual report, semi-annual report and the articles of incorporation of the Fund are available free of charge at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg, at the offices of the representative in Switzerland 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. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units.
Paying agent and representative in Switzerland is RBC Investor Services Bank S.A., Bleicherweg 7, CH-8027 Zurich, Switzerland. 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 as well as annual report, semi-annual report and the articles of incorporation of the Fund are available free of charge at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg, at the offices of the representative in Switzerland 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. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units.
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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 that we invest in. Our full voting records are available here.
Our fund approach to Responsible Investment
Exclude
Exclude investment in entities involved in the production tobacco and of controversial weapons, such as cluster munitions, anti-personnel mines, nuclear warheads, chemical and biological weapons
For the sustainable strategies exclude adult entertainment, alcohol, animal testing, fur, gambling, GMO, nuclear energy, thermal coal and weaponry.
Integrate
We undertake our own fundamental ESG research on each company
Then an independent sustainability consultant checks the scores which drives the rating
We will only invest in companies that have either a Provisional or Pass rating
If a company receives a Fail rating then we will not invest
Engage
ESG engagement can enhance performance through increasing upside potential and mitigating downside risk
We believe that all companies face ESG issues and that it is important to address these before and during investment
As long-term shareholders it is our fiduciary duty to consistently encourage positive change through engagement and exercising proxy voting rights
Kempen (Lux) Sustainable European Small-cap Fund (the “Sub-Fundâ€) is a sub-fund of Kempen International Funds SICAV (the “Fundâ€), 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.
Paying agent and representative in Switzerland is RBC Investor Services Bank S.A., Bleicherweg 7, CH-8027 Zurich, Switzerland. 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 as well as annual report, semi-annual report and the articles of incorporation of the Fund are available free of charge at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg, at the offices of the representative in Switzerland 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. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units.
Paying agent and representative in Switzerland is RBC Investor Services Bank S.A., Bleicherweg 7, CH-8027 Zurich, Switzerland. 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 as well as annual report, semi-annual report and the articles of incorporation of the Fund are available free of charge at the registered office of the Fund located at 6H, route de Trèves, L-2633 Senningerberg, Luxembourg, at the offices of the representative in Switzerland 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. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units.
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