News & Knowledge

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, 06 May

Credit quarterly newsletter

Kempen’s Credit team immerses itself in the credit markets on a daily basis. As these markets can change rapidly, it’s vital for the team to be on top of all the latest developments, understand what’s going on and adjust its portfolios accordingly if necessary. The team receives regular enquiries from clients about its views on the credit markets and where the best opportunities currently lie, so welcome to our quarterly credit newsletter providing the team’s views on a topic of interest. In this first edition, the team focuses on why it believes it’s still a good time to allocate to Euro high yield.

2019, 03 May

Salomons' Judgement

Blockchain technology can open closed private markets to investors. Pieces of real estate, infrastructure or private equity transfer directly from owner to owner without intermediate layers or fund structures.

2019, 02 May

Private Markets Investor Letter

In this quarter, we have completed investments in each of the four Private Markets categories: Private Equity, Infrastructure, Real Estate and Land. We have added two new Partnerships to the portfolio and also allocated additional capital to two existing positions in the portfolio. This ensures a further diversification of the portfolio and puts additional capital to work. The level of activity at our underlying Partnerships remains high. We closed the first quarter with a positive return of 1.1%, which is a good result since the portfolio is still building up. In this report, we will discuss the most important activities.

2019, 18 April

Salomons' Judgement

When the baby boomers were between 20 and 30 years old, a large majority immediately belonged to the middle class. For the current millennials this is not a given. Not only did the inequality between generations increase over time, frustration did too: houses are too expensive, jobs too insecure and finances too fragile.

2019, 15 April

The easy days in real estate are gone

Back in the eighties/nineties it was easy to make money in real estate. Maybe that is the reason I chose a career in the real estate sector long time ago. However, a property investor today needs to be pretty adaptive to be dealing with an ever-changing environment.

2019, 15 April

Asset Allocation update April

Risk assets continued to rally in March. By the end of the month, global equities had gained 13% since the start of the year, with developed equities slightly outperforming emerging equities. Risk spreads on investment-grade and high-yield credit narrowed.

2019, 12 April

Statement: investor’s expectations of oil and gas companies

On Monday, 8 April 2019, shareholder group Follow This announced the withdrawal of its climate resolution calling on Royal Dutch Shell to change its climate policy. We, NN Investment Partners, PME and PMT (Fiduciary manager MN), ACTIAM, Aegon, Kempen Capital Management and Achmea Investment Management, are supportive of this decision and the progress Shell has made in 2018 in the pathway towards achieving the Paris agreement goals.

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.

2019, 20 May

Kempen names new heads real assets team

Amsterdam – 20 May 2019 Starting from 1 August 2019, Jorrit Arissen and Egbert Nijmeijer will assume responsibility for the Real Assets team of Kempen Capital Management. They will succeed Matthijs Storm, who has accepted a position on the board of directors of a real estate company.

2019, 14 May

Kempen strengthens the Responsible Investment team

London / Amsterdam, 14 May 2019. Kempen Capital Management N.V. (Kempen) has appointed Eszter Vitorino Fuleky to the position of Senior Responsible Investment Advisor. Within the Responsible Investment team, she will focus predominantly on corporate governance.