News & Knowledge

2020, 03 June

Ernst Jansen new COO of Kempen Capital Management

Ernst Jansen has been appointed Chief Operating Officer (COO) at Kempen Capital Management (Kempen) with immediate effect.

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2020, 02 June

Investment case: Circular Zinc

At Kempen, we have a long history of incorporating ESG (environmental, social, governance) topics when making investment decisions. Sometimes we find investment opportunities where sustainability is at the heart of the company’s strategy. Befesa is such an example, even though you may not recognize it at first sight given their exposure to steel markets. Befesa is European market leader in managing and treating industrial waste from the steel industry. It collects hazardous steel dust and recycles the zinc content out of it.

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2020, 29 May

Global Impact Pool Quarterly

We are pleased to report on the first quarter of 2020 of Kempen’s Global Impact Pool in which we continued to deploy capital towards the Global Impact Pool’s mission, which is to make investments that positively contribute to solving global problems around the food, water and climate nexus and five Sustainable Development Goals.

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2020, 29 May

Kempen's Commentary

The damage caused by the corona virus and the associated lockdowns is becoming increasingly visible. Millions of people in the US have become unemployed, and the economy in the eurozone has shrunk more than ever in the first quarter. In the Netherlands, it wasn’t as bad as in the surrounding countries, but here the worst is yet to come. In the meantime, stock markets have already recovered considerably. The massive support deals announced by governments and central banks give the investors hope. Just like the fact that the spread of the virus has reduced in most countries. The number of active cases has declined sharply in China, South Korea and Japan, and the downward trend is also undeniable in Europe. It is stable in the US, while the increase in countries such as Brazil, India and Russia is still worrying. In the Netherlands, there are hardly any new hospitalisations and the number of corona patients in the ICU is steadily decreasing.

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2020, 27 May

Dike surveillance for portfolios

The coronavirus, or a flash crash by a trading algorithm. They’re not the kind of events you want to be surprised by as an investor. How do you deal with changes that could potentially have an enormous impact on your investment portfolio when there is a very low risk of them occurring in the first place? Kempen is the first asset manager to apply an additional risk model for extreme events: the tail risk model.

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2020, 27 May

Kempen European Private Equity Fund acquires a significant direct interest in Biofutur

The Kempen European Private Equity Fund, the private equity investment fund of Kempen Capital Management (Kempen), has acquired a significant interest in Biofutur Group (‘Biofutur’). Biofutur is a French group of laboratories specializing in blood tests and body fluid analysis.

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2020, 26 May

Kempen Insights: Market update series

Over the last few months the coronavirus has evolved from a local epidemic to a global pandemic, having a significant impact on our lives and with governments around the globe taking drastic measures to control the human impact of Covid-19. This has led to a financial turbulence with investors concerned about the economic implications of the virus and the associated business disruption.

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2020, 25 May

European junk bonds have grown up

Junk bonds. That’s the rather off-putting name for high-yield bonds. In contrast to its US counterpart, the market for European junk bonds was barely taken seriously for many decades. Yet times have changed.

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2020, 20 May

What can the UK learn from the Dutch approach to fiduciary management? (and vice versa!)

As UK pension trustees grapple with the challenges of finding the right fiduciary manager, Cathy Lewis, a director in Kempen’s fiduciary management team in London, looks at what we can learn from the Dutch Pension system and how they have embraced Fiduciary Management, and how we can use and translate those successes to the UK.

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2020, 19 May

The Dividend Letter

Will companies keep paying dividend during this crisis? With so much uncertainty and companies announcing dividend cuts seemingly every day, we are right to be concerned the corona-crisis will have its impact on company payouts to shareholders. In this Dividend Letter we aim to work out the impact of this crisis on our dividend strategy. History is reassuring; although dividends are not immune to recessions, they are resilient.

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2020, 18 May

Learning from a pioneer with a purpose

It’s difficult to interpret a crisis when you’re in the midst of it, but Jeroen Smit, Daniëlle Melis and Lars Dijkstra give it their best shot. In what was originally planned as a roundtable but instead became a conference call, they discuss what we can learn from the past and reveal a shared sense of optimism.

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2020, 15 May

Kempen's Commentary

As a result of the corona crisis, 2.6 billion tons of CO2 will not see the light of day. That’s an expected decrease of 8 percent this year: some kind of light in these dark times. This estimate by the International Energy Agency (IEA) is a daily identifiable number. Roads are empty, skies are blue, and the internet is full of videos of animals in places that have long been a no-go area for them. Is this the tipping point for the transition to a sustainable economy?

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2020, 13 May

Asset Allocation Outlook May

After a few months of the coronavirus spreading around the globe and nearly every country now in some sort of lockdown, the extent of the damage to the economy is becoming clearer. Confidence indicators have plummeted and data on the real economy are now also starting to fall sharply. Yet the financial markets have calmed somewhat. The spread of the coronavirus has slowed and governments and central banks have announced enormous stimulus packages. This means there are glimmers of hope, but the equity market already seems to be anticipating a recovery. We’ve therefore decided to maintain our underweight in equities.

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