Kempen Orange Fund N.V.

Profile

Kempen Orange Fund N.V. invests in smaller and medium-sized Dutch companies that are included in the GPR Dutch Small Cap Index. The fund can also invest in Dutch and Belgian companies which are not included in the Index, provided that their market capitalisation is less than € 5 billion at the time of purchase. Investments in Belgian companies may not exceed 20% of the fund’s portfolio.

The fund positions itself as an engaged shareholder.

Kempen Orange Fund N.V. has the objective to earn a structurally higher return (capital gain and dividends) than its benchmark: GPR Dutch Small Cap Index. This index contains Dutch companies with a maximum market value of €3 billion as of 2 January 2017. This is indexed annually.

Management team

Joop Witteveen, Michiel van Dijk, Duncan Siewe

Performance per 2017-08-31 (rebased)

No chart data available

Performance per 2017-08-31

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  Fund Benchmark
1 month -2.8 % -2.5 %
3 months -0.5 % -1.9 %
This year 18.9 % 16.7 %
2014 11.4 % -0.1 %
2015 26.7 % 28.1 %
2016 8.5 % 7.5 %
3 years (on annual basis) i 21.6 % 18.1 %
5 years (on annual basis) i 20.0 % 16.7 %
Since inception (on annual basis) i 11.6 % 9.3 %
Untill 1 januari 2004 was de benchmark de CBS Small Cap Index. Performance is shown after deduction of ongoing charges and including the reinvestment of dividend that has been paid out. The value of your investments may fluctuate. Past performance provides no guarantee for the future.
More information can be found on the documents page of this fund

Key figures

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Total fund size
EUR 101.90 M 2017-08-31
Number of shares
1,140,142 2017-08-31
Net Asset Value i
EUR 92.17 2017-09-22
Transaction price i
EUR 92.40 2017-09-22
Morningstar rating â„¢
Morningstar Analyst rating
Gold

Fund characteristics per 2017-08-31

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  Fund Benchmark
Number of holdings 25 62
Dividend yield i 2.65 % 2.54 %
Weighted average market capitalization i EUR 1,873 M EUR 1,708 M
P/E ratio i 16.38 17.33
Active share i 40.20 %
Kempen Capital Management NV (KCM) is the management company of Kempen Orange Fund N.V. (the Fund). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. The Fund is registered under the license of KCM at the The Netherlands Authority for the Financial Markets.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents are available on the website of KCM (www.kempen.com/investmentfunds). The value of your investment may fluctuate. Past performance provides no guarantee for the future.

Market developments per 2017-08-31

Due to the nature of this fund, this information is only available on the Dutch part of this website.

Portfolio developments per 2017-08-31

Due to the nature of this fund, this information is only available on the Dutch part of this website.
Kempen Capital Management NV (KCM) is the management company of Kempen Orange Fund N.V. (the Fund). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. The Fund is registered under the license of KCM at the The Netherlands Authority for the Financial Markets.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents are available on the website of KCM (www.kempen.com/investmentfunds). The value of your investment may fluctuate. Past performance provides no guarantee for the future.

Performance per 2017-08-31 (rebased)

No chart data available

Performance per 2017-08-31

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  Fund Benchmark
1 month -2.8 % -2.5 %
3 months -0.5 % -1.9 %
This year 18.9 % 16.7 %
2014 11.4 % -0.1 %
2015 26.7 % 28.1 %
2016 8.5 % 7.5 %
3 years (on annual basis) i 21.6 % 18.1 %
5 years (on annual basis) i 20.0 % 16.7 %
Since inception (on annual basis) i 11.6 % 9.3 %
Untill 1 januari 2004 was de benchmark de CBS Small Cap Index. Performance is shown after deduction of ongoing charges and including the reinvestment of dividend that has been paid out. The value of your investments may fluctuate. Past performance provides no guarantee for the future.

Dividends

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Distributing
Yes
Last dividend
EUR 1.75
Ex-date last dividend
2017-05-15
Number of distributions per year
1
Dividend calendar

Risk analysis (ex post) per 2017-08-31

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  3 years Since inception
Maximum drawdown i -11.12 % -59.19 %
Tracking error i 4.42 % 5.88 %
Information ratio i 0.78 0.39
Beta i 0.99 0.88
Kempen Capital Management NV (KCM) is the management company of Kempen Orange Fund N.V. (the Fund). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. The Fund is registered under the license of KCM at the The Netherlands Authority for the Financial Markets.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents are available on the website of KCM (www.kempen.com/investmentfunds). The value of your investment may fluctuate. Past performance provides no guarantee for the future.

Top 5 contribution (2017-08-31)

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  Contribution i Performance i
Arcadis 0.49 % 5.63 %
ASR Nederland 0.10 % 1.88 %
Forfarmers 0.06 % 1.64 %
Koninklijke Volkerwessels 0.06 % 2.53 %
Koninklijke BAM Groep 0.03 % 0.31 %

Bottom 5 contribution (2017-08-31)

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  Contribution i Performance i
PostNL -0.63 % -14.64 %
Fugro -0.38 % -22.61 %
SIF -0.36 % -18.10 %
Corbion -0.31 % -7.18 %
Brunel International -0.27 % -13.87 %

Geographic allocation (2017-08-31)

95.5 %
The Netherlands
0.0 %
Others
4.5 %
Cash
Totaal
100 %

Top 10 holdings (2017-08-31)

9.0 %
Arcadis
6.9 %
ASM International
6.8 %
Koninklijke BAM Groep
5.3 %
ASR Nederland
5.2 %
Corbion
5.2 %
Euronext
4.7 %
Kendrion
4.7 %
Sligro Food Group
4.5 %
BE Semiconductor Industries
4.3 %
Philips Lighting
Totaal
56.7 %

Sector allocation (2017-08-31)

19.8 %
Construction & Materials
15.8 %
Food & Beverage
15.3 %
Technology
12.9 %
Industrial Goods & Services
9.9 %
Retail
7.1 %
Financial Services
5.3 %
Insurance
5.1 %
Oil & Gas
4.3 %
Personal & Household Goods
4.5 %
Cash
Totaal
100 %
Kempen Capital Management NV (KCM) is the management company of Kempen Orange Fund N.V. (the Fund). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. The Fund is registered under the license of KCM at the The Netherlands Authority for the Financial Markets.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents are available on the website of KCM (www.kempen.com/investmentfunds). The value of your investment may fluctuate. Past performance provides no guarantee for the future.

Ongoing charges

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Management fee i
0.75 %
Service fee i
0.25 %
Expected ongoing charges i
1.00 %
Ongoing charges last financial year i
1.01 %
The Ongoing Charges Figure of the last financial year relates to 2016.

The service fee is determined annually on basis of the net asset value as of the last day of the previous financial year:
< or equal to EUR 200 million: 0.25%
>EUR 200 million: 0.20%

Other costs

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Upward swing factor i
0.25 %
Downward swing factor i
0.25 %
More about our swing pricing policy
Kempen Capital Management NV (KCM) is the management company of Kempen Orange Fund N.V. (the Fund). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. The Fund is registered under the license of KCM at the The Netherlands Authority for the Financial Markets.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents are available on the website of KCM (www.kempen.com/investmentfunds). The value of your investment may fluctuate. Past performance provides no guarantee for the future.

Share class details

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Investor type
Institutional & Private
Distributing
Yes
Benchmark i
GPR Dutch Small Cap Index (dividends reinvested)
Investment category
Small-caps
Universum
Dutch and Belgian Small- and Mid-caps
Inception date
1990-09-07
Domicile
The Netherlands
May be offered to all investors in
The Netherlands
UCITS status i
No
Status
Open-end i
Base currency
EUR
Share class currency
EUR
Management company
Kempen Capital Management N.V.
Custodian
BNP Paribas Securities Services S.C.A.
Morningstar rating â„¢
Morningstar Analyst rating
Gold

Tradability

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Listed
yes, listed on the NAV Trading Facility of Euronext
Pricing frequency
daily
ISIN i
NL0000289627
Kempen Capital Management NV (KCM) is the management company of Kempen Orange Fund N.V. (the Fund). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. The Fund is registered under the license of KCM at the The Netherlands Authority for the Financial Markets.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents are available on the website of KCM (www.kempen.com/investmentfunds). The value of your investment may fluctuate. Past performance provides no guarantee for the future.
Kempen Capital Management NV (KCM) is the management company of Kempen Orange Fund N.V. (the Fund). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. The Fund is registered under the license of KCM at the The Netherlands Authority for the Financial Markets.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents are available on the website of KCM (www.kempen.com/investmentfunds). The value of your investment may fluctuate. Past performance provides no guarantee for the future.

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

  • Continuous dialogue with company management through one-on-one meetings. Meetings with division directors, peers and join analyst and client events. If necessary seek dialogue with the supervisory board
  • Actively involved during the AGMs through the use of our voting rights. We make remarks on the agenda if necessary and we stress our discussion points with the company at the AGM
  • Companies themselves also have the ability to seek the dialogue with us. We provide feedback on corporate strategy, governance and communication at AGM's and in one-on-one's
  • We are focused on the creation of shareholder value, where the company of course has to take into account all stakeholders
  • All holdings are screened by MSCI on sustainability items, if necessary we engage with management on sustainability issues with help from our experts in Edinburgh

Kempen Capital Management NV (KCM) is the management company of Kempen Orange Fund N.V. (the Fund). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. The Fund is registered under the license of KCM at the The Netherlands Authority for the Financial Markets.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents are available on the website of KCM (www.kempen.com/investmentfunds). The value of your investment may fluctuate. Past performance provides no guarantee for the future.