News & Knowledge

2019, 21 August

Asset Allocation update August

Concerns are mounting in financial markets. Is the global economy heading for a recession? If we look at global bond markets we see worrying signals. Interest rates fell off a cliff the past weeks, to an extent that the bond market appears to price in a recession in the near future. However, equity and credit markets are showing a different -more optimistic- picture.

2019, 19 August

PRI awards Kempen with an ‘A+’ and ‘A’

Amsterdam, 19 August 2019- Every year the Kempen Responsible Investment Team annually reports to PRI (United Nations Principles for Responsible Investment) about the integration of ESG (Environmental, Social, and Governance) factors into the responsible investment process. This year, PRI awarded our responsible investment process with an average score of ‘A’ and “A+” on three modules.

2019, 08 August

Private Markets Investor Letter

At the end of the second quarter, our participants have committed a total of EUR 98.7 million in capital to the Kempen Private Markets Fund. We have committed almost the same amount to ten partnerships and two direct co-investments – a well-diversified portfolio. In this quarter we allocated additional capital to three current investments in the portfolio, so that the allocations to the various categories are more in line with the target weights. We also saw a lot of activity at the underlying partnerships level and we are very satisfied with the build-up of the portfolio. All investments are focused on good value-creation strategies. We will elaborate on all of these topics in this quarterly report.

2019, 17 July

Asset Allocation update July

If we group fundamental trends into three categories – the economy, corporate earnings and interest rates – we find that equity markets have generated two of these three trends. Equity markets were therefore able to climb, with the global index up by a further 7.5% since the end of May, driven by the prospect of more expansionary monetary policies.

2019, 16 July

It is not easy being green

Our clients are increasingly seeking green or ESG flavoured strategies. We fully support this quest even though as our friend Kermit the Frog once said: “It is not easy being green”.

2019, 11 July

Salomons' Judgement

Why don’t companies invest? Because they see no growth? Perhaps. Because the need is missing? That’s more likely. But also, because they’re not rewarded for it by investors.

2019, 28 June

Salomons' Judgement

Everybody talks about a recession. Interest rates are looking for new record lows. It will be exciting. Keep a close eye on what companies and consumers do, rather than what they say.

2019, 17 June

Asset Allocation update June

In the wake of a correction in May in which the prices of equities from industrialised countries lost over 5% and emerging market equities fell by nearly 10%, markets breathed a sigh of relief at the start of June. The growing willingness of the US central bank to cut interest rates helped the equity markets regain their footing, while the deal the US agreed with Mexico to tackle the refugee crisis, prompting the US not to impose higher import tariffs after all, also improved sentiment on the equity markets.

2019, 13 June

Salomons' Judgement

Is ‘elephant man’ Branko Milanovic right? Is too much inequality disastrous for democracy and does it create an static upper class?

2019, 05 June

Global Small-cap investment case: Protector

Last year, Protector, an insurance company in the Scandinavian market, was challenged by a small insect. The eventful appearance of the gray silverfish provided an attractive entry point for long-term value investors.

2019, 03 June

Salomons' Judgement

Yes! This economic cycle is the longest in history. Congrats! And many more years to come?

2019, 21 May

Asset Allocation update May

For most of last month, markets continued the rally started at the beginning of this year. The positive sentiment was carried on by an earnings season which was much stronger than expected, though actual numbers were not very solid.

2019, 17 May

Salomons' Judgement

A story about the natural rate of interest, a tight monetary policy and – for once – admitting that Donald Trump is right …

2019, 23 July

Kempen European Private Equity Fund acquires an interest in high-precision sheet metal processing company Wilvo Group.

Amsterdam, 23 July 2019. The Kempen European Private Equity Fund has acquired a significant direct interest in Wilvo Group B.V. (‘Wilvo Group’). Wilvo Group is a family business in the province of Brabant in the Netherlands that has evolved into a specialist in the processing of thin sheet metal and precision parts assembly.

2019, 17 July

Kempen European Private Equity Fund acquires a significant interest in Avion Group.

Amsterdam, 17 July 2019. The Kempen European Private Equity Fund has taken a significant interest in Avion Group B.V. (‘Avion’). Avion is a Dutch developer and manufacturer of high-tech full-motion flight simulators. The company serves an international customer base consisting of flight schools and airline companies.

2019, 18 June

Kempen European Private Equity Fund reaches over €120 million after second closing

Amsterdam, 18 June 2019. The private equity fund of Kempen Capital Management (Kempen), the Kempen European Private Equity Fund, has raised over €45 million in the second closing on 14 June 2019. Following the second closing, the fund has a fund size of more than €120 million.

2019, 06 June

Phishing: how to recognize it?

In the past few months, cyber criminals have been very active sending out phishing emails and text messages to clients of banks and financial institutions. As far as we know, they have not targeted any clients of Kempen. Nevertheless, we would like to inform you about how you can prevent cyber thieves from accessing your personal details and using them for fraudulent purposes.