News & Knowledge

2017, 07 September

Which price is right?

The positive effect of stock splits has been a talking point for many years now, although there is limited academic research looking into the relationship between stock splits and the performance of listed real estate. Fama, Fisher, Jensen, and Roll showed in their 1969 study that markets are “efficient” enough to adjust to new information very rapidly and that positive drift caused by stock splits followed increased future dividend implications. Following simple rationale, an investor should be indifferent whether he owns 10 shares of €10 or one share of €100. But one can doubt the limited impact if we zoom out and take several trading-related factors into account that help determine the right price for a single share.

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2017, 30 August

Kempen Capital Management launches Kempen (Lux) Euro High Yield Fund

Amsterdam, 30 August 2017 - Kempen Capital Management (Kempen) is pleased to announce the launch of its specialist Kempen (Lux) Euro High Yield Fund, a new and distinctive product which aims to target the attractive BB-segment of the high yield market.

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2017, 18 August

Asset Allocation update August

After a quiet start to the summer, volatility returned to the financial markets last week. Growing tensions between the United States and North Korea triggered a short-lived flight to quality.

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2017, 31 July

Fallen angels and rising stars

Article about the new Kempen investment fund that focuses on this segment of highest segment of the high yield market.

2017, 26 July

The Dividend Letter

Every quarter we will publish an entry on a specific theme relevant to our investment process. In this letter we focus on one way to reduce mistakes and improve our hit rate: the investment checklist.

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2017, 13 July

Kempen Insight July 2017

Turning ideas into reality is the theme of this summer edition with innovative investment strategies, for instance the impact investing pool. Other ideas have had time to grow and thrive, like the Kempen (Lux) Global Small-cap Fund and the Kempen Global Real Estate Fund. Both funds reached a three year track record this summer.

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2017, 11 July

Asset Allocation update July

Last month, it became clear to many investors that not just the Fed but also other major central banks are slowly starting to reverse their extremely expansionary monetary policies of the past few years. Emergency measures are no longer needed. This means an end to artificially-low bond yields, which will now rise. Yet the monetary tightening is too small-scale to bring an immediate end to the business cycle. Equities continue to perform well. Valuations have hardly changed and sentiment remains positive.

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2017, 11 July

Monthly Commentary

London, 11 July 2017 - Over the last year I have occasionally felt more like a political analyst than a portfolio manager. From Brexit to the latest French parliamentary elections, the shakeup in the previously established political order in such a short space of time has, at times, been quite un-nerving.

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2017, 10 July

From the drawing board to a track record

Three years of Kempen (Lux) Global Small-cap Fund

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