- Kempen
- UBS SRI Global Equity Pool
BestSelect-UBS SRI Global Equity
Profile
BestSelect-UBS SRI Global Equity focuses on realizing long-term value growth. The strategy is aimed at achieving its performance objective through investing in companies with an average and above average score on environmental, social and governance (ESG) criteria. In addition companies that generate more than 5% of their revenue from controversial industries like (controversial) weapons, tobacco, gambling, genetically modified organisms (GMO), alcohol, fur, adult entertainment, nuclear power and fossil fuels are excluded from investment. After the selection of companies with average and above average ESG scores and the industry exclusions the strategy passively invests in the remainder of the companies from the MSCI World Index. Issuer concentration in the fund is managed through a quarterly rebalancing with the objective to reset the maximum single issuer weights at 5%. Between these quarterly rebalancing dates, issuers weights will drift due to price movements of the securities in the portfolio. At all times an upper limit on single issuer weights of 7% will apply.
The manager will only accept subscriptions from investors who are exempt from withholding taxes in the United States under the tax treaty between the Netherlands and the United States.
The manager will only accept subscriptions from investors who are exempt from withholding taxes in the United States under the tax treaty between the Netherlands and the United States.
Management team
UBS Fund Management (Luxembourg) S.A.
Performance per 2022-12-31 (rebased)
Performance per 2022-12-31
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Fund | Benchmark | |
---|---|---|
1 month | -8.0 % | -7.6 % |
3 months | 0.4 % | 0.8 % |
This year | -15.9 % | -12.8 % |
2019 | 34.0 % | 30.0 % |
2020 | 13.0 % | 6.3 % |
2021 | 33.4 % | 31.1 % |
1 year (on annual basis) | -15.9 % | -12.8 % |
3 years (on annual basis) i | 8.2 % | 6.7 % |
5 years (on annual basis) i | 10.3 % | 8.7 % |
Since inception (on annual basis) i | 9.8 % | 8.0 % |
Performance is shown after deduction of ongoing charges and including the reinvestment of dividend that has been paid out. The value of your investments may fluctuate. Past performance provides no guarantee for the future.
More information can be found on the documents page of this fund
Key figures
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Total fund size | EUR 263.40 M 2022-12-31 |
Share class size | EUR 263.40 M 2022-12-31 |
Number of shares | 5,446,118 2022-12-31 |
Net Asset Value i | EUR 50.59 2023-01-31 |
Transaction price i | EUR 51.18 2023-01-31 |
BestSelect-UBS SRI Global Equity (the “Sub-Fundâ€) is a sub-fund of BestSelect AIF Funds (the “Fundâ€). Van Lanschot Kempen Investment Management NV is the management company of the Fund. Van Lanschot Kempen Investment Management NV 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 Van Lanschot Kempen Investment Management NV at the Dutch Authority for the Financial Markets (AFM). The application of the investment policy which is under the responsibility and control of the management company, is entrusted to UBS Fund Management (Luxembourg) S.A. This investment firm is under the supervision of the Commission de Surveillance du Secteur Financier (CSSF), the financial regulator in Luxembourg.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in Dutch). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). 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.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in Dutch). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). 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.
BestSelect-UBS SRI Global Equity (the “Sub-Fundâ€) is a sub-fund of BestSelect AIF Funds (the “Fundâ€). Van Lanschot Kempen Investment Management NV is the management company of the Fund. Van Lanschot Kempen Investment Management NV 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 Van Lanschot Kempen Investment Management NV at the Dutch Authority for the Financial Markets (AFM). The application of the investment policy which is under the responsibility and control of the management company, is entrusted to UBS Fund Management (Luxembourg) S.A. This investment firm is under the supervision of the Commission de Surveillance du Secteur Financier (CSSF), the financial regulator in Luxembourg.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in Dutch). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). 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.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in Dutch). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). 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.
Performance per 2022-12-31 (rebased)
Performance per 2022-12-31
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Fund | Benchmark | |
---|---|---|
1 month | -8.0 % | -7.6 % |
3 months | 0.4 % | 0.8 % |
This year | -15.9 % | -12.8 % |
2019 | 34.0 % | 30.0 % |
2020 | 13.0 % | 6.3 % |
2021 | 33.4 % | 31.1 % |
1 year (on annual basis) | -15.9 % | -12.8 % |
3 years (on annual basis) i | 8.2 % | 6.7 % |
5 years (on annual basis) i | 10.3 % | 8.7 % |
Since inception (on annual basis) i | 9.8 % | 8.0 % |
Performance is shown after deduction of ongoing charges and including the reinvestment of dividend that has been paid out. The value of your investments may fluctuate. Past performance provides no guarantee for the future.
Dividends
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Distributing | No |
BestSelect-UBS SRI Global Equity (the “Sub-Fundâ€) is a sub-fund of BestSelect AIF Funds (the “Fundâ€). Van Lanschot Kempen Investment Management NV is the management company of the Fund. Van Lanschot Kempen Investment Management NV 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 Van Lanschot Kempen Investment Management NV at the Dutch Authority for the Financial Markets (AFM). The application of the investment policy which is under the responsibility and control of the management company, is entrusted to UBS Fund Management (Luxembourg) S.A. This investment firm is under the supervision of the Commission de Surveillance du Secteur Financier (CSSF), the financial regulator in Luxembourg.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in Dutch). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). 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.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in Dutch). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). 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.
Top 10 holdings (2022-12-31)
4.9 %
Microsoft
4.8 %
Apple Computer
2.4 %
Tesla
2.0 %
Alphabet Class A
1.9 %
Alphabet Class C
1.6 %
United Health
1.1 %
JPMorgan Chase & Co
1.0 %
Nvidia
1.0 %
Visa Class A
1.0 %
Home Depot
Total
21.5 %
BestSelect-UBS SRI Global Equity (the “Sub-Fundâ€) is a sub-fund of BestSelect AIF Funds (the “Fundâ€). Van Lanschot Kempen Investment Management NV is the management company of the Fund. Van Lanschot Kempen Investment Management NV 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 Van Lanschot Kempen Investment Management NV at the Dutch Authority for the Financial Markets (AFM). The application of the investment policy which is under the responsibility and control of the management company, is entrusted to UBS Fund Management (Luxembourg) S.A. This investment firm is under the supervision of the Commission de Surveillance du Secteur Financier (CSSF), the financial regulator in Luxembourg.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in Dutch). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). 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.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in Dutch). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). 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.
Ongoing charges
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Service fee i | 0.13 % |
Indirect costs i | 0.0225% - 0.10% (bandwidth investment management fee for UBS Fund Management (Luxembourg) S.A.) |
Expected ongoing charges i | 0.20 – 0.25 % (bandwith) |
Ongoing charges last financial year i | 0.19 % |
The ongoing charges figure of the last financial year relates to 2021.
The expected ongoing charges consist of the investment management fee for UBS Fund Management (Luxembourg) S.A. and the service fee. The investment management fee is calculated daily based on the size of the fund's assets and corresponds to the scheme below, which is expressed in fees per annum::
- Over the fund's assets up to and including EUR 100 million: 0.10%
- About the fund assets above EUR 100 mln up to and including EUR 150 mln: 0.04%
- About the fund assets above EUR 150 mln up to and including EUR 200 mln: 0.03%
- About the fund assets above EUR 200 mln up to and including EUR 250 mln: 0.0275%
- About the fund assets above EUR 250 mln up to and including EUR 300 mln: 0.0250%
- On the fund's assets above EUR 300 mln: 0.0225%
The service fee changed as of 1 January 2023 into 0.125% (was 0.15%).The service fee is determined annually on basis of the net asset value as of the last day of the previous financial year: The service fee is determined as follows:
- If the fund assets are less than or equal to EUR 250 million: 0.15%
- If the fund's assets are between EUR 250 and EUR 500 million: 0.125%
- If the fund's assets are more than EUR 500 million: 0.10%
The expected ongoing charges consist of the investment management fee for UBS Fund Management (Luxembourg) S.A. and the service fee. The investment management fee is calculated daily based on the size of the fund's assets and corresponds to the scheme below, which is expressed in fees per annum::
- Over the fund's assets up to and including EUR 100 million: 0.10%
- About the fund assets above EUR 100 mln up to and including EUR 150 mln: 0.04%
- About the fund assets above EUR 150 mln up to and including EUR 200 mln: 0.03%
- About the fund assets above EUR 200 mln up to and including EUR 250 mln: 0.0275%
- About the fund assets above EUR 250 mln up to and including EUR 300 mln: 0.0250%
- On the fund's assets above EUR 300 mln: 0.0225%
The service fee changed as of 1 January 2023 into 0.125% (was 0.15%).The service fee is determined annually on basis of the net asset value as of the last day of the previous financial year: The service fee is determined as follows:
- If the fund assets are less than or equal to EUR 250 million: 0.15%
- If the fund's assets are between EUR 250 and EUR 500 million: 0.125%
- If the fund's assets are more than EUR 500 million: 0.10%
BestSelect-UBS SRI Global Equity (the “Sub-Fundâ€) is a sub-fund of BestSelect AIF Funds (the “Fundâ€). Van Lanschot Kempen Investment Management NV is the management company of the Fund. Van Lanschot Kempen Investment Management NV 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 Van Lanschot Kempen Investment Management NV at the Dutch Authority for the Financial Markets (AFM). The application of the investment policy which is under the responsibility and control of the management company, is entrusted to UBS Fund Management (Luxembourg) S.A. This investment firm is under the supervision of the Commission de Surveillance du Secteur Financier (CSSF), the financial regulator in Luxembourg.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in Dutch). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). 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.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in Dutch). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). 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.
Share class details
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Share class | AN i |
Investor type | Institutional & Private |
Distributing | No |
Benchmark i | MSCI World Total Return Net Index (calculated in Euro) |
Duration hedged | No |
Investment category | BestSelect funds |
Universe | Global equity |
Inception date | 2015-12-17 |
Domicile | Netherlands |
May be offered to all investors in | Netherlands |
UCITS status i | No |
Status | Open-end i |
Base currency | EUR |
Share class currency | EUR |
Administration Office | Juridisch eigenaar Kempen AIF BV |
Administrator | BNP Paribas S.A., Netherlands Branch |
Auditor | PricewaterhouseCoopers Accountants N.V. |
Transfer agent | Van Lanschot Kempen NV |
Management company | Van Lanschot Kempen Investment Management NV |
Depositary and custodian | BNP Paribas S.A., Netherlands Branch |
Tradability
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Listed | no |
Subscription/Redemption Frequency | Daily |
ISIN i | NL0011495205 |
This fund is only available for orders submitted via the Transfer Agent platform of Van Lanschot N.V. Share class AN will only be available for distributors who submit orders on behalf of their clients, and who have been selected by the management company.
BestSelect-UBS SRI Global Equity (the “Sub-Fundâ€) is a sub-fund of BestSelect AIF Funds (the “Fundâ€). Van Lanschot Kempen Investment Management NV is the management company of the Fund. Van Lanschot Kempen Investment Management NV 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 Van Lanschot Kempen Investment Management NV at the Dutch Authority for the Financial Markets (AFM). The application of the investment policy which is under the responsibility and control of the management company, is entrusted to UBS Fund Management (Luxembourg) S.A. This investment firm is under the supervision of the Commission de Surveillance du Secteur Financier (CSSF), the financial regulator in Luxembourg.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in Dutch). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). 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.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in Dutch). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). 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.
No sustainable investment objective
The BestSelect – UBS SRI Global Equity (the “Fundâ€) falls under the scope of article 8 of the Sustainable Financial Disclosure Regulation (SFDR). The Sub-Fund promotes environmental and/or social characteristics, without an objective of making sustainable investments.
The environmental characteristics promoted by the Fund seek to contribute to achievement of the climate goals of the Paris Agreement. The Fund follows a decarbonization pathway that is lower than the MSCI World Index (the “Benchmarkâ€) with a subsequent 7% annual reduction.
The environmental characteristics promoted by the Fund seek to contribute to achievement of the climate goals of the Paris Agreement. The Fund follows a decarbonization pathway that is lower than the MSCI World Index (the “Benchmarkâ€) with a subsequent 7% annual reduction.
Environmental or social characteristics of the financial product
The Fund promotes the following environmental characteristics:Â
• climate change mitigation and climate change adaptation in line with the Paris Climate AgreementÂ
The Sub-Fund promotes social characteristics related to:
• decent work;
• adequate living standards and wellbeing for end-users;Â
• other social topics such as gender equality and broader diversity matters.Â
• climate change mitigation and climate change adaptation in line with the Paris Climate AgreementÂ
The Sub-Fund promotes social characteristics related to:
• decent work;
• adequate living standards and wellbeing for end-users;Â
• other social topics such as gender equality and broader diversity matters.Â
Investment strategy
The promotion of sustainable investments is achieved through the consistent implementation of the Fund’s ESG policy. The ESG policy is fully implemented in our strategy’s investment process across the three relevant pillars of: Exclusion, ESG Integration, Active Ownership.
Exclusion & Avoidance:Â
Not investing in companies involved in controversial activities or conduct.
ESG Integration:Â
Ensuring sustainability risks and opportunities are adequately considered in the investment analysis and processes. The Kempen ESG Manager Scoring framework is used to evaluate how the Investment Managers integrate various ESG factors into their investment processes and assess whether they meet Kempen’s requirements. After the initial selection of companies that pass the Sub-Funds ESG selection criteria, the Investment Manager passively invests in the remainder of the companies from the MSCI World Index.
Active Ownership:Â
Being responsible stewards of our clients’ capital and using our influence through engagement with the Investment Manager and voting to improve corporate behavior on specific ESG issues and achieve positive change.
Exclusion & Avoidance:Â
Not investing in companies involved in controversial activities or conduct.
ESG Integration:Â
Ensuring sustainability risks and opportunities are adequately considered in the investment analysis and processes. The Kempen ESG Manager Scoring framework is used to evaluate how the Investment Managers integrate various ESG factors into their investment processes and assess whether they meet Kempen’s requirements. After the initial selection of companies that pass the Sub-Funds ESG selection criteria, the Investment Manager passively invests in the remainder of the companies from the MSCI World Index.
Active Ownership:Â
Being responsible stewards of our clients’ capital and using our influence through engagement with the Investment Manager and voting to improve corporate behavior on specific ESG issues and achieve positive change.
Proportion of investments
The Sub-Fund promotes environmental and/or social characteristics, without an objective of making sustainable investments, including EU Taxonomy aligned.
Monitoring of environmental or social characteristics
Each quarter, the portfolio is screened for compliance with Kempen’s ESG criteria. The screening process allows Kempen to monitor the ESG performance of all companies in the Fund, and to enable engagement on potential issues identified. The output of the screen feeds into quarterly challenging sessions between ESG specialists and the Manager Research Solution team. Challenging sessions are used to assess whether ESG risks and opportunities are sufficiently reflected in the investment decision making process of the Investment Manager.Â
Methodologies
Kempen ESG Manager Scoring Framework is designed to help understand and evaluate how the external Investment Managers integrate various ESG factors into their investment processes. Managers are scored across the six pillars and are classified into five ESG flavors: compliant, basic, avoid harm, do better, do good. Â
Principle Adverse Indicators are monitored at individual holding level and at the portfolio level. Economic activities of portfolio companies can have adverse impacts on sustainability factors.Â
Carbon emission intensity is used as the key carbon metric. We calculate carbon intensity based on revenues (weighted average carbon intensity), which we use for our commitment, ambition and objectives. We also calculate carbon intensity based on Enterprise Value, which is also used by the EU Benchmarks.
EU Taxonomy alignment is measured by a third party provider.
Principle Adverse Indicators are monitored at individual holding level and at the portfolio level. Economic activities of portfolio companies can have adverse impacts on sustainability factors.Â
Carbon emission intensity is used as the key carbon metric. We calculate carbon intensity based on revenues (weighted average carbon intensity), which we use for our commitment, ambition and objectives. We also calculate carbon intensity based on Enterprise Value, which is also used by the EU Benchmarks.
EU Taxonomy alignment is measured by a third party provider.
Data sources and processing
External data providers include (but are not limited to) Institutional Shareholder Services (ISS), which we use for governance research, carbon data and Sustainable Development Goals data, MSCI ESG Research, which we use for company ESG Ratings, product involvement data, UN Global Compact Data, and Sustainalytics, which we use for ESG Risk Ratings and product involvement data. The degree to which the investments are in environmentally sustainable economic activities under the EU Taxonomy is measured by a third party provider MSCI ESG, which is using a combination of actual data from investee companies and estimates on EU Taxonomy alignment made by the third party provider. Internal as well as external data is collected and processed in several data analytics (including FactSet) and internal compliance systems (including ThinkFolio).Â
Exclusion criteria
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Kempen criteria | Additional criteria | |
---|---|---|
Business conduct | ||
Human Rights | ||
Labour | ||
Environment | ||
Anti Corruption | ||
Product involvement | ||
Controversial Weapons | ||
Tobacco | ||
Thermal Coal | ||
Tar Sands | ||
Adult Entertainment | ||
Alcohol | ||
Animal Welfare & GMO | ||
Gambling | ||
Power Generation Nuclear | ||
Power Generation Carbon Intensive | ||
(Un)conventional Oil & Gas Extraction | ||
Weaponry |
Limitations to methodologies and data
Externally provided ESG data is far from perfect. To ensure data quality we can engage with Investment Managers, third party vendors and portfolio companies. Limitations include, but are not limited to discrepancies between company reported data and data provided by third parties, inconsistencies across data vendors, market cap bias and modelling assumptions.Â
Due diligence
Before delegating the implementation of the investment policy to an Investment Manager, the Manager Research Solutions team performs an extensive due diligence, including a chapter on ESG which evaluates how various ESG factors are into their investment processes. The Investment Manager itself performs an analysis of the ESG profile of the companies it invests in. The material ESG risks and opportunities of the investee companies are assessed on a case-by-case basis.Â
Designated reference benchmark
Although there has been no index designated as a reference benchmark, by 2025 the Sub-Fund aims to have a carbon intensity that is below the EU Climate Transition Benchmark (EU CTB) pathway. The EU Climate Transition Benchmark has the aim to reach net-zero emissions by 2050 - in line with the 1.5°C scenarios from the IPCC. This pathway assumes a carbon intensity that is lower than the MSCI World Index (the “Benchmarkâ€) with a subsequent 7% annual reduction. As the Sub-Fund cares about the direction of travel and reduction of carbon emissions in the economy, it might be that the actual reducing trend may deviate from the average pathway.
BestSelect-UBS SRI Global Equity (the “Sub-Fundâ€) is a sub-fund of BestSelect AIF Funds (the “Fundâ€). Van Lanschot Kempen Investment Management NV is the management company of the Fund. Van Lanschot Kempen Investment Management NV 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 Van Lanschot Kempen Investment Management NV at the Dutch Authority for the Financial Markets (AFM). The application of the investment policy which is under the responsibility and control of the management company, is entrusted to UBS Fund Management (Luxembourg) S.A. This investment firm is under the supervision of the Commission de Surveillance du Secteur Financier (CSSF), the financial regulator in Luxembourg.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in Dutch). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). 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.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in Dutch). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). 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.
Read more information about Van Lanschot Kempen Investment Management N.V. on this site and find also more information on BNP Paribas S.A., Netherlands Branch.
Factsheets
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Prospectus
Sustainability related disclosures
BestSelect-UBS SRI Global Equity (the “Sub-Fundâ€) is a sub-fund of BestSelect AIF Funds (the “Fundâ€). Van Lanschot Kempen Investment Management NV is the management company of the Fund. Van Lanschot Kempen Investment Management NV 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 Van Lanschot Kempen Investment Management NV at the Dutch Authority for the Financial Markets (AFM). The application of the investment policy which is under the responsibility and control of the management company, is entrusted to UBS Fund Management (Luxembourg) S.A. This investment firm is under the supervision of the Commission de Surveillance du Secteur Financier (CSSF), the financial regulator in Luxembourg.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in Dutch). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). 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.
The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch) and the prospectus (available in Dutch). These documents are available on the website of Van Lanschot Kempen Investment Management NV (www.kempen.com/en/asset-management). 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.