Kempen Global Property Fundamental Index® Fund N.V. (terminated)

Profile

On 13 February 2019 (close of business) Kempen Global Property Fundamental Index® Fund N.V. was terminated. More information can be found under the section Documents / General Meeting and Other on the Dutch part of the website.

Kempen Global Property Fundamental Index® Fund (KGPFIF N.V.) invests in a diversified portfolio of global listed property companies. KGPFIFN.V. aims to reflect the composition as well as the result of the index. The index is the Global Property Research (GPR) Global Property Fundamental Index®. The portfolio contains more than 100 investments.

This index is compiled based on fundamental (financial) factors rather than on the basis of market capitalisation. This means that factors such as rental income, EBITDA and gross dividends are of influence on the weight of a company in the index. According to the management company these factors are more representative for the economic power of companies than market capitalisation.

Management team

Hans Kamminga, Kim Lubbers

Performance per 2019-01-31 (rebased)

No chart data available

Performance per 2019-01-31

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  Fund Benchmark
1 month 10.6 % 10.7 %
3 months 6.4 % 6.6 %
This year 10.6 % 10.7 %
2016 9.9 % 10.0 %
2017 -0.5 % -0.7 %
2018 -3.0 % -3.2 %
1 year (on annual basis) 10.9 % 10.8 %
3 years (on annual basis) i 6.8 % 6.8 %
5 years (on annual basis) i 10.2 % 10.4 %
Since inception (on annual basis) i 9.0 % 9.3 %
KGPFIF N.V. has the same investment policy as Kempen (Lux) Global Property Fundamental Index® Fund, based in Luxembourg and Kempen Global Property Fundamental Index® Fund, based in the Netherlands. From 1 January 2016 until 19 May 2016 (start of KGPFIF N.V.) the results shown in the performance graph and performance table are those of Kempen Global Property Fundamental Index® Fund, based in the Netherlands. The results shown before 1 January 2016 are those of Kempen (Lux) Global Property Fundamental Index® Fund class I, based in Luxembourg. Results are shown after deduction of ongoing charges and including reinvestment of distributed dividend. The value of your investments may fluctuate. Past performance provides no guarantee for the future. For the calculation of the performance figures a deviating Net Asset Value (NAV) is used. This NAV is calculated based on closing prices of KGPFIF N.V. investments thereby deviating from the NAV which was originally issued and partly calculated based on snapshots (Asia & Pacific investments). The deviating NAV is used to make a better comparison with the benchmark, which is also solely based on closing prices of the investments. The dividend distribution of KGPFIFNV (ex-date 01-08-2018) is included in the NAV per 31 July 2018 and is therefore included in the performance figures of July.
More information can be found on the documents page of this fund

Key figures

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Total fund size
EUR 5.48 M 2019-01-31
Share class size
EUR 5.48 M 2019-01-31
Number of shares
150,100 2019-01-31
Net Asset Value i
EUR 37.04 2019-02-13
Transaction price i
EUR 37.32 2019-02-12
Morningstar rating â„¢

Fund characteristics per 2019-01-31

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  Fund Benchmark
Number of holdings 146 148
Dividend yield i 4.25 % 4.22 %
Weighted average market capitalization i EUR 13,304 M EUR 13,350 M
P/E ratio i 12.67 12.68
Active share i 50.00 %
Kempen Capital Management N.V. (KCM) is the management company of Kempen Global Property Fundamental Index® Fund N.V. (the "Fund"). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. The Fund is registered under the license of KCM at the The Netherlands Authority for the Financial Markets.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents are available on the website of KCM (www.kempen.com/investmentfunds). The value of your investment may fluctuate. Past performance provides no guarantee for the future.

‘Fundamental Index®’ and/or ‘Research Affiliates Fundamental Index®’ and/or ‘RAFI’ and/or all other RA trademarks, trade names patented and patent-pending concepts are the exclusive property of Research Affiliates, L.L.C.

Market developments per 2019-01-31

Global property stocks posted strong absolute returns in January. The strong real estate returns in January are probably best explained by an attractive valuation in combination with continuing good operational performance by the sector. Several real estate funds around the world reported strong year-on-year portfolio valuation uplifts with their year-end results. In Japan real estate fund Tokyo Tatemono announced a share buyback (5% of the outstanding shares to be acquired). Although not the first buyback recently announced in Japan we are pleasantly surprised that more and more Japanese management teams decide to create shareholder value by buying back shares at discount to NAV. This capital allocation option is an important item in the toolbox for listed real estate funds: selling assets at NAV and purchasing back shares when trading at a discount to NAV; and vice versa issuing new shares when the share price trades at a premium to NAV in order to purchase or develop assets at NAV.
Kempen Capital Management N.V. (KCM) is the management company of Kempen Global Property Fundamental Index® Fund N.V. (the "Fund"). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. The Fund is registered under the license of KCM at the The Netherlands Authority for the Financial Markets.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents are available on the website of KCM (www.kempen.com/investmentfunds). The value of your investment may fluctuate. Past performance provides no guarantee for the future.

‘Fundamental Index®’ and/or ‘Research Affiliates Fundamental Index®’ and/or ‘RAFI’ and/or all other RA trademarks, trade names patented and patent-pending concepts are the exclusive property of Research Affiliates, L.L.C.

Performance per 2019-01-31 (rebased)

No chart data available

Performance per 2019-01-31

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  Fund Benchmark
1 month 10.6 % 10.7 %
3 months 6.4 % 6.6 %
This year 10.6 % 10.7 %
2016 9.9 % 10.0 %
2017 -0.5 % -0.7 %
2018 -3.0 % -3.2 %
1 year (on annual basis) 10.9 % 10.8 %
3 years (on annual basis) i 6.8 % 6.8 %
5 years (on annual basis) i 10.2 % 10.4 %
Since inception (on annual basis) i 9.0 % 9.3 %
KGPFIF N.V. has the same investment policy as Kempen (Lux) Global Property Fundamental Index® Fund, based in Luxembourg and Kempen Global Property Fundamental Index® Fund, based in the Netherlands. From 1 January 2016 until 19 May 2016 (start of KGPFIF N.V.) the results shown in the performance graph and performance table are those of Kempen Global Property Fundamental Index® Fund, based in the Netherlands. The results shown before 1 January 2016 are those of Kempen (Lux) Global Property Fundamental Index® Fund class I, based in Luxembourg. Results are shown after deduction of ongoing charges and including reinvestment of distributed dividend. The value of your investments may fluctuate. Past performance provides no guarantee for the future. For the calculation of the performance figures a deviating Net Asset Value (NAV) is used. This NAV is calculated based on closing prices of KGPFIF N.V. investments thereby deviating from the NAV which was originally issued and partly calculated based on snapshots (Asia & Pacific investments). The deviating NAV is used to make a better comparison with the benchmark, which is also solely based on closing prices of the investments. The dividend distribution of KGPFIFNV (ex-date 01-08-2018) is included in the NAV per 31 July 2018 and is therefore included in the performance figures of July.

Dividends

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Distributing
Yes
Last dividend
EUR 1.74
Ex-date last dividend
2018-10-04
Number ofdistributions per year
4
Dividend calendar
The dividend distribution of KGPFIFNV (ex-date 01-08-2018) is included in the NAV per 31 July 2018 and is therefore included in the performance figures of July.

Risk analysis (ex post) per 2019-01-31

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  3 years Since inception
Maximum drawdown i -11.57 % -14.52 %
Tracking error i 0.31 % 0.72 %
Information ratio i 0.19 -0.48
Beta i 1.00 0.99
Kempen Capital Management N.V. (KCM) is the management company of Kempen Global Property Fundamental Index® Fund N.V. (the "Fund"). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. The Fund is registered under the license of KCM at the The Netherlands Authority for the Financial Markets.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents are available on the website of KCM (www.kempen.com/investmentfunds). The value of your investment may fluctuate. Past performance provides no guarantee for the future.

‘Fundamental Index®’ and/or ‘Research Affiliates Fundamental Index®’ and/or ‘RAFI’ and/or all other RA trademarks, trade names patented and patent-pending concepts are the exclusive property of Research Affiliates, L.L.C.

Geographic allocation (2019-01-31)

52.2 %
United States
9.0 %
Hong Kong
8.4 %
Japan
5.1 %
Australia
3.3 %
Germany
3.1 %
Singapore
2.8 %
France
2.7 %
Bermuda
2.7 %
United Kingdom
2.2 %
Canada
2.0 %
European M.C.F.
1.3 %
Sweden
1.2 %
Cayman Islands
0.8 %
South Africa
0.7 %
Luxembourg
0.7 %
Switzerland
0.5 %
Mexico
0.4 %
Spain
0.3 %
Brazil
0.3 %
Austria
0.3 %
Cash
Total
100 %

Top 10 holdings (2019-01-31)

3.9 %
Simon Property Group
3.2 %
Equity Residential
2.8 %
Welltower
2.3 %
Ventas
2.1 %
Brookfield Property Reit
2.0 %
Unibail-Rodamco-Westfield
2.0 %
Health Care Property
2.0 %
Daiwa House Industry
1.9 %
Public Storage
1.9 %
Prologis
Total
24.1 %

Sector allocation (2019-01-31)

26.3 %
Diversified
26.2 %
Retail
15.0 %
Residential
12.5 %
Offices
9.6 %
Health Care
7.7 %
Industrials
1.7 %
Hotels
1.1 %
Other
Total
100 %
Kempen Capital Management N.V. (KCM) is the management company of Kempen Global Property Fundamental Index® Fund N.V. (the "Fund"). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. The Fund is registered under the license of KCM at the The Netherlands Authority for the Financial Markets.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents are available on the website of KCM (www.kempen.com/investmentfunds). The value of your investment may fluctuate. Past performance provides no guarantee for the future.

‘Fundamental Index®’ and/or ‘Research Affiliates Fundamental Index®’ and/or ‘RAFI’ and/or all other RA trademarks, trade names patented and patent-pending concepts are the exclusive property of Research Affiliates, L.L.C.

Ongoing charges

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Management fee i
0.25 %
Service fee i
0.20 %
Expected ongoing charges i
0.45 %
Ongoing charges last financial year i
0.45 %
The Ongoing Charges Figure of the last financial year relates to 2017/2018.

Other costs

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Upward swing factor i
0.20 %
Downward swing factor i
0.15 %
As of 1 January 2018 the swing factor has been adjusted from 0.,20%/0.20% to 0.20%/0.15%.
Kempen Capital Management N.V. (KCM) is the management company of Kempen Global Property Fundamental Index® Fund N.V. (the "Fund"). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. The Fund is registered under the license of KCM at the The Netherlands Authority for the Financial Markets.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents are available on the website of KCM (www.kempen.com/investmentfunds). The value of your investment may fluctuate. Past performance provides no guarantee for the future.

‘Fundamental Index®’ and/or ‘Research Affiliates Fundamental Index®’ and/or ‘RAFI’ and/or all other RA trademarks, trade names patented and patent-pending concepts are the exclusive property of Research Affiliates, L.L.C.

Share class details

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Investor type
Institutional & Private
Distributing
Yes
Benchmark i
GPR Global Property Fundamental Index®
Investment category
Fundamental Indexation
Universum
Global real estate equities
Inception date
2016-05-18
Domicile
The Netherlands
May be offered to all investors in
The Netherlands
UCITS status i
Yes
Status
Open-end i
Base currency
EUR
Share class currency
EUR
Management company
Kempen Capital Management N.V.
Depositary and custodian
BNP Paribas Securities Services S.C.A.
Morningstar rating â„¢

Tradability

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Listed
yes, listed on the NAV Trading Facility of Euronext
Subscription/Redemption Frequency
Daily
ISIN i
NL0011821210
Kempen Capital Management N.V. (KCM) is the management company of Kempen Global Property Fundamental Index® Fund N.V. (the "Fund"). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. The Fund is registered under the license of KCM at the The Netherlands Authority for the Financial Markets.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents are available on the website of KCM (www.kempen.com/investmentfunds). The value of your investment may fluctuate. Past performance provides no guarantee for the future.

‘Fundamental Index®’ and/or ‘Research Affiliates Fundamental Index®’ and/or ‘RAFI’ and/or all other RA trademarks, trade names patented and patent-pending concepts are the exclusive property of Research Affiliates, L.L.C.
Kempen Capital Management N.V. (KCM) is the management company of Kempen Global Property Fundamental Index® Fund N.V. (the "Fund"). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. The Fund is registered under the license of KCM at the The Netherlands Authority for the Financial Markets.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents are available on the website of KCM (www.kempen.com/investmentfunds). The value of your investment may fluctuate. Past performance provides no guarantee for the future.

‘Fundamental Index®’ and/or ‘Research Affiliates Fundamental Index®’ and/or ‘RAFI’ and/or all other RA trademarks, trade names patented and patent-pending concepts are the exclusive property of Research Affiliates, L.L.C.
No data available.
Kempen Capital Management N.V. (KCM) is the management company of Kempen Global Property Fundamental Index® Fund N.V. (the "Fund"). KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. The Fund is registered under the license of KCM at the The Netherlands Authority for the Financial Markets.

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document and the prospectus. These documents are available on the website of KCM (www.kempen.com/investmentfunds). The value of your investment may fluctuate. Past performance provides no guarantee for the future.

‘Fundamental Index®’ and/or ‘Research Affiliates Fundamental Index®’ and/or ‘RAFI’ and/or all other RA trademarks, trade names patented and patent-pending concepts are the exclusive property of Research Affiliates, L.L.C.