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Thirty years of Kempen Oranje Participaties

03 November 2022

Kempen Oranje Participaties is an investment fund that actively invests in smaller European companies. The fund invests in shares of companies that the managers believe to be undervalued and aims to hold positions of at least 5% in the outstanding share capital of any company. Since its launch, in 1992, the fund has generated a net annualised return of 11.9%*. The value of your investment may fluctuate. Past performance provides no guarantee for the future. 

Erwin Dut, Fund Manager of Kempen Oranje Participaties: ‘Our team consists of passionate fund managers with a drive to realise a solid performance by selecting the best companies. Our results have created great interest in Kempen Oranje Participaties. This inspires us to confidently keep building our track record for the benefit of our investors.’ 

The team consists of Michiel van Dijk, Erwin Dut, Sander van Oort and Ingmar Schaefer, who select high-quality companies with attractive valuations. As engaged shareholders, the team maintains close communication with the companies that are represented in its portfolio, engaging about issues such as strategic improvements and sustainability. Sustainability criteria are considered during the investment process. 

Kempen has been a specialist in small-cap investing for over 30 years and in 1991 introduced its first small-cap fund focusing on Dutch small caps. Since then, Kempen has expanded its range of small-cap investment funds and also began offering European and worldwide small-cap products.

*Source: return t/m September 2022, Kempen Oranje Participaties N.V.

Kempen (Lux) Sustainable European Small-cap Fund (the “Sub-Fund”) is a sub-fund of Kempen International Funds SICAV (the “Fund”), domiciled in Luxembourg. This Fund is authorised in Luxembourg and is regulated by the Commission de Surveillance du Secteur Financier. Kempen Capital Management N.V. (KCM) is the management company of the Fund. KCM is authorised as management company and regulated by the Dutch Authority for the Financial Markets (AFM).

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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 are available on the website of KCM ( The information on the website is (partly) available in Dutch and English. The value of your investment may fluctuate. Past performance provides no guarantee for the future.

About Kempen Capital Management
Kempen Capital Management is a specialist investment manager with a focused approach and a clear investment philosophy. We believe in long-term stewardship for our clients and other stakeholders. Kempen provides sustainable returns, fiduciary management services, manager selection, portfolio construction and monitoring, alongside a number of actively-managed investment strategies. As of 30 June 2022, Kempen Capital Management had a total of €80.6 billion in client assets under management.

Kempen Capital Management (UK) Ltd is licensed as a manager and subject to supervision by the Financial Conduct Authority. Kempen Capital Management, part of Van Lanschot Kempen, is a specialist and independent wealth manager. Kempen Capital Management NV is licensed as a manager of various UCITS and AIFs and authorised to provide investment services and as such is subject to supervision by the Netherlands Authority for the Financial Markets. 

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