Implementation MIFID II: Kempen will absorb investment research costs

MiFID II contains a provision that states that specific costs incurred for external investment research must be transparent and recognizable as such. The current practice is that trading and research costs are lumped together in a single fee, the commission that a client pays for a transaction. Separate pricing for external investment research, a move known in the industry as ‘unbundling’, should increase transparency in the cost structure.

Lars Dijkstra, Chief Investment Officer, stated: ‘We welcome any chance to increase transparency and efficiency in the financial sector. Kempen has always invested heavily in both the quality and quantity of our internal research system. This makes us less dependent on external research service providers. Obviously, we will continue to work together in future with a group of selected, high-quality suppliers of investment research services.’
 
For further details, you are welcome to contact: 

Tahmina Mannan
T +44 020 7520 7629 
E tahmina.mannan@jpespartners.com 

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About Kempen Capital Management
Kempen Capital Management N.V. (KCM) is a wholly-owned subsidiary of Kempen & Co N.V., is licensed as a manager of various investment institutions and to provide investment services including asset management, and, as such, is subject to supervision by the Netherlands Authority for the Financial Markets, and registered with the Financial Conduct Authority. 

KCM is a specialized asset management company with a very targeted and specific investment style in European equities, bonds and real estate securities for a range of institutional investors, foundations and high net-worth private clients. In addition, KCM offers comprehensive fiduciary investment solutions and selects investment boutiques for its clients. KCM pursues optimal investment results and works with highly specialized management teams. Kempen Capital Management N.V. is listed in the Commercial Register of the Chamber of Commerce in Amsterdam under file number 33181992, and has its registered office in Amsterdam.