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Asset Allocation Outlook October

15 October 2020

Last month we referred to the market wisdom that says there’s no point in investors coming back until September. This year it would certainly have been the wrong time to do so. Not only would investors have missed out on the gains of August, they’d have to digest a loss in September on top of that. At nearly 4%, the biggest loss was in the US. Europe and emerging markets noted a loss of about 2%, while Japan displayed a tiny plus of 0.5%.

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

  • No national lockdowns due to second coronavirus wave, but it is causing uncertainty
  • Rate of economic recovery slows
  • Investment policy unchanged, small underweight in equities

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2020, 14 October

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.

The Asset Allocation Desk

Joost van Leenders

Joost van Leenders

Senior Investment Strategist
Luc Aben

Luc Aben

Chief economist
Michel Iglesias del Sol

Michel Iglesias del Sol

Head Of Investment Strategy
Duco Smit

Duco Smit

senior investment strategist
Jorn Veeneman

Jorn Veeneman

investment strategist

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News & Knowledge

2021, 13 October

Kempen Real Estate Update: 2021 – Bringing Private Real Estate Back to the Future

The process for investing in private real estate funds has been unchanged for more than 25 years. However, the investment world has come a long way since then – from using simple property tours and word of mouth, to fully integrating big data and ESG. The time for private real estate investing to evolve is now. We want to show you our rejuvenated version of this aged model.

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2021, 11 October

Asset Allocation Outlook October

Equity markets had a tough time of it in September. Less growth, more inflation, central banks moving towards tapering their highly-expansionary monetary policies and pushing up bond yields in the process, as well as concerns about the Chinese economy, caused many markets to close the month in the red. After noting a loss in January, it was only the second monthly loss for the MSCI global equity index so far this year. The global equity index was down by 4.2% (in US dollars), with little difference between industrialised countries and emerging markets. Europe (-3.5% in euros) held up slightly better than the US (-4.8% in US dollars). Japan was the notable exception at a plus of 3.5% (in yen); markets anticipate a more expansionary fiscal policy there under a new government.

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2021, 07 October

Global Impact Pool Quarterly

We are pleased to report on the second quarter of 2021 for 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.

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Kempen & Co is a trade name of Van Lanschot Kempen NV. Kempen Capital Management NV is part of Van Lanschot Kempen NV.