Asset Allocation Outlook May

13 May 2020

After a few months of the coronavirus spreading around the globe and nearly every country now in some sort of lockdown, the extent of the damage to the economy is becoming clearer. Confidence indicators have plummeted and data on the real economy are now also starting to fall sharply. Yet the financial markets have calmed somewhat. The spread of the coronavirus has slowed and governments and central banks have announced enormous stimulus packages. This means there are glimmers of hope, but the equity market already seems to be anticipating a recovery. We’ve therefore decided to maintain our underweight in equities.

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

Corona pandemic leaves deep scars on the global economy
Crisis initially deflationary
Equity markets (excessively) optimistic

2020, 13 May

Asset Allocation Outlook

Download

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.

The Asset Allocation Desk

Subscribe to our letter

Leave your email address and be the first to receive the latest editions

Submitting your form

We have received your form

And we will get back to you soon.

Something went wrong

Please check your form for errors or try again later.

News & Knowledge

2020, 07 August

Kempen's Commentary

It’s holiday time, and the coronavirus has forced many families to cancel or change their plans for this season. There is much debate among economists as to whether the corona crisis is inflationary or deflationary. It’s especially inflationary for holiday homes in the Netherlands. I heard that many houses are fully booked and prices are skyrocketing.

2020, 29 July

Kempen Global Listed Infrastructure: Infrastructure is key in a sustainable world

Over the past decade there has been an increasing focus on Sustainability issues impacting society. We believe the coming decade will see a step change in Sustainability issues. In this paper we outline this change, the role of Infrastructure, and how our investment process captures the opportunities ahead.

2020, 21 July

Credit quarterly newsletter

Kempen’s Credit team immerses itself in the credit markets on a daily basis. As these markets can change rapidly, it’s vital for the team to be on top of all the latest developments, understand what’s going on and adjust its portfolios accordingly if necessary. The team receives regular enquiries from our clients about its views on the credit markets and where the best opportunities currently lie, so we publish a quarterly credit newsletter providing the team’s views on a topic of interest. In this edition we talk about data analytic tools that vastly improve our Credit team’s investment process.

Asset Allocation Outlook May

Read more

Asset Allocation Outlook

The Asset Allocation Desk

Joost van Leenders

Ivo Kuiper

Luc Aben

Hans Kamminga

Kim Lubbers

Martijn Gerrits