Asset Allocation Outlook April

09 April 2020

Last month we were rather non-committal as to whether the spread of the coronavirus would cause a recession, but it’s now clear that it will. In the face of the publication of unprecedentedly weak economic data, the financial markets have in fact calmed down somewhat. This is mainly because the coronavirus appears to be spreading slightly less rapidly in China, South Korea and Europe, but also a result of the enormous monetary and fiscal stimulus packages that have been announced. In our investment policy we have slightly increased our allocation to US credits, while we continue to hold an underweight in equities.

Please see Kempen’s Asset Allocation Outlook for March. The highlights this month are:

Great uncertainty about the economic impact of the corona virus
Deep correction on equity markets
Position in corporate bonds reduced, equities purchased

2020, 08 April

Asset Allocation Outlook

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Disclaimer
Kempen Capital Management N.V. (KCM) is licensed as a manager of various investment funds and to provide investment services and is subject to supervision by the Netherlands Authority for the Financial Markets. This information may not be construed as an offer and provides insufficient basis for an investment decision.

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News & Knowledge

2020, 29 May

Global Impact Pool Quarterly

We are pleased to report on the first quarter of 2020 of Kempen’s Global Impact Pool in which we continued to deploy capital towards the Global Impact Pool’s mission, which is to make investments that positively contribute to solving global problems around the food, water and climate nexus and five Sustainable Development Goals.

2020, 29 May

Kempen's Commentary

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Dike surveillance for portfolios

The coronavirus, or a flash crash by a trading algorithm. They’re not the kind of events you want to be surprised by as an investor. How do you deal with changes that could potentially have an enormous impact on your investment portfolio when there is a very low risk of them occurring in the first place? Kempen is the first asset manager to apply an additional risk model for extreme events: the tail risk model.

Asset Allocation Outlook April

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Asset Allocation Outlook

The Asset Allocation Desk

Joost van Leenders

Ivo Kuiper

Luc Aben

Hans Kamminga

Kim Lubbers

Martijn Gerrits