Van Lanschot Kempen: trading update third quarter 2021
Very strong quarterly result on the back of robust operating results and book profits on sales from the portfolio of participating interests
Client assets up to €2 billion (end of June 2021: €121.0 billion) and AuM to €107.2 billion (end of June 2021: €104.2 billion)
Net inflows at Private Clients of €0.6 billion and net outflows at Wholesale & Institutional Clients of €2.1 billion in Q3
Strong capital ratio at 20.0% (end of June 2021: 21.9%)
Constant Korthout, Van Lanschot Kempen’s Chief Financial & Risk Officer, said: “We’re proud of our results for the third quarter. Once again, we’ve seen strong net inflows at Private Clients. It was a mixed picture at Wholesale & Institutional Clients, where outflows exceeded inflows in the wake of the departure of a few institutional clients.
“Our clients are increasingly looking to invest in less liquid solutions, as evidenced by major client appetite for the launch of our Kempen European Private Equity Fund II. Hof Hoorneman Bankiers’ clients fully migrated in the quarter, are now on our platform and have access to our products and services offering.”