Kempen Global Impact Pool adapts investment range
Two new Kempen Global Impact Pool share classes will be available to current and new shareholders from 1 April 2022. Subscriptions will be accepted from 1 March.
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Reason for change
Kempen Global Impact Pool’s managers believe that the closure of current share classes and subsequent opening of new ones will benefit current and future shareholders.
The new set-up facilitates capital calls for larger investments, meaning that investors in the fund’s Class E are asked to commit capital when Global Impact Pool’s fund managers are able to invest. Any investments under €1 million will be instantly callable, and, on balance, not much will change for many investors and potential investors compared with the current situation.
Improved portfolio management
The new share classes will enable us to significantly improve portfolio management. They help to limit dilutive stakes, as capital calls will allow us to better manage the inflow of new capital. As a result, the fund’s exposure to low-yielding assets – which serve as a temporary parking space for capital earmarked for investment – will be kept to a minimum.
In addition, a 1.5% one-time anti-dilution charge will now apply to every new subscription. This will be for the use of the fund and shareholders, and is designed to offset costs at the creation of the portfolio and the dilutive effect of new investments.
Lastly, the time lag between subscription and actual commitment has now been shortened to ten working days instead of three months, so investors in the Global Impact Pool are much more quickly committed than was previously the case.
These changes are expected to help bring significant improvements to impact and financial returns in the medium to long term, and are informing an increase in the Global Impact Pool’s long-term return target to 6-8% from 4-6%, annualised.
Enhancing investment opportunities
Kempen Global Impact Pool invests in a diversified pool of investment funds managed by external asset managers, and, in so doing, invests indirectly in private companies. Effective 1 April 2022, Global Impact Pool will also have the capacity to invest directly in impactful businesses or projects, for example through co-investing with existing investment partners.
Kempen Global Impact Pool is expected to continue to do most of its investing by way of investment funds, and to engage in direct investment in a limited and highly selective way.
No change has been made to the investment objective for the new share classes. As with its other investments, Kempen Global Impact Pool aims to use any direct investment to make a positive contribution to solving global issues in food, livelihood and climate change, and to earn financial returns in keeping with the markets.
More information and application forms will be available from 1 March.
Global Impact Pool (the “Sub-Fund”) is a sub-fund of Kempen Alternative Markets Fund SICAV-RAIF (the “Fund”), domiciled in Luxembourg. Kempen Capital Management N.V. (KCM) is the management company of the Fund. KCM is authorised as a management company and regulated by the Dutch Authority for the Financial Markets (AFM). The Sub-Fund is registered under the license of the Fund at the Dutch Authority for the Financial Markets (AFM).
The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch and English) and the prospectus (available in English). These documents of the Fund are available on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English.
The Sub-Fund is registered for offering in a limited number of countries. The countries where the Sub-Fund is registered can be found on the website. The value of your investment may fluctuate. Past performance provides no guarantee for the future