Morningstar Fund Report  | 05/04/2025Print

Kempen (Lux) European High Dividend Fund Class AN

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Kempen (Lux) European High Dividend Fund Class AN
Fund16.7-0.38.62.37.1
+/-Cat3.52.9-2.40.3-1.9
+/-B’mrk3.0-4.0-2.7-1.5-5.5
 
Category: Europe Equity Income
Category Benchmark: Morningstar DM Eur Div Yld ...
Key Stats
NAV
03/04/2025		 EUR 45.28
Day Change -1.91%
Morningstar Category™ Europe Equity Income
ISIN LU0927663491
Fund Size (Mil)
03/04/2025		 EUR 17.32
Share Class Size (Mil)
03/04/2025		 EUR 5.78
Max Initial Charge -
Ongoing Charge
01/01/2025		  1.00%
Morningstar Research
Analyst Report16/01/2025
Jeffrey Schumacher, Director
Morningstar, Inc

After a rather turbulent period where key members of Kempen’s dividend team departed, the rebuild team finds itself in calmer waters. The team is gradually regaining our conviction, which led to an upgrade of the People Pillar rating to Average...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People23
Parent24
Process23
Performance
Price
Investment Objective: Kempen (Lux) European High Dividend Fund Class AN
The Sub-Fund's investment objective is to offer Investors the opportunity to invest in an actively and professionally managed portfolio of European listed companies with an attractive dividend yield or in companies that are expected to offer soon an attractive dividend yield. The Sub-Fund primarily aims to generate a long-term return in excess of the MSCI Europe Total Return Net Index (the “Benchmark”), comprising capital gains or losses plus net dividend. The Sub-Fund’s assets will be invested, either directly or, on an ancillary basis, through the use of financial derivative instruments, in equity and equity equivalent securities issued by listed companies having their place of incorporation or their principal business activities in Europe, including European emerging countries.
Returns
Trailing Returns (GBP)03/04/2025
YTD5.67
3 Years Annualised7.05
5 Years Annualised12.56
10 Years Annualised5.16
12 Month Yield 0.00
Management
Manager Name
Start Date
Joris Franssen
15/05/2009
Luc Plouvier
15/05/2009
Click here to see others
Inception Date
08/10/2013

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI Europe NR EURMorningstar DM Eur Div Yld >2.5% NR EUR
Portfolio Profile for  Kempen (Lux) European High Dividend Fund Class AN28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock99.180.0099.18
Bond0.000.000.00
Property0.000.000.00
Cash0.820.000.82
Other0.000.000.00
Top 5 Regions%
Eurozone58.04
United Kingdom27.55
Europe - ex Euro9.79
United States4.62
Canada0.00
Top 5 Sectors%
Financial Services21.26
Consumer Defensive11.74
Healthcare11.68
Energy10.98
Communication Services10.17
Top 5 HoldingsSector%
Fresenius SE & Co KGaAHealthcareHealthcare3.54
Reckitt Benckiser Group PLCConsumer DefensiveConsumer Defensive3.33
BP PLCEnergyEnergy3.18
Hellenic Telecommunication Organ... Communication ServicesCommunication Services3.11
AyvensIndustrialsIndustrials3.09
Increase Decrease New since last portfolio
Kempen (Lux) European High Dividend Fund Class AN
Growth Of 1000 (GBP) 31/03/2025
Fund:  Kempen (Lux) European High Dividend Fund Class AN
Category:  Europe Equity Income
Category Index:  Morningstar DM Eur Div Yld >2.5% NR EUR
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-7.1810.26-6.7216.69-0.288.632.297.09
+/- Category3.66-4.88-4.853.472.89-2.350.28-1.93
+/- Category Index2.66-7.21-0.733.01-4.04-2.73-1.54-5.52
% Rank in Category1588831936734476
Trailing Returns (GBP)03/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-1.91   -1.50-0.56
1 Week-3.16   -1.88-0.97
1 Month-1.74   -0.88-0.83
3 Months5.53   -2.33-5.34
6 Months3.62   -2.13-5.68
YTD5.67   -3.32-5.85
1 Year5.69   -3.40-6.45
3 Years Annualised7.05   -1.00-2.79
5 Years Annualised12.56   0.46-1.34
10 Years Annualised5.16   -0.65-1.38
 
Category: Europe Equity Income
Category Index: Morningstar DM Eur Div Yld >2.5% NR EUR
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20257.09---
20242.38-0.923.84-2.89
20235.51-0.461.611.79
2022-4.61-2.61-5.8413.99
20215.404.272.084.02
2020-26.3316.09-2.7612.17
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAverageAverage3 star
5-YearAverageAbove Average3 star
10-YearAverageAverage3 star
OverallAverageAverage3 star
 
Category :  Europe Equity IncomeClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev11.52 %
3-Yr Mean Return8.24 %
 
3-Yr Sharpe Ratio0.34
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar DM Eur Div Yld >2.5% NR EUR  Morningstar Dev Europe Val TME NR EUR
3-Yr Beta0.970.93
3-Yr Alpha-2.34-2.59
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)EUR 25723-
Market Capitalisation% of Equity
Giant26.94
Large29.83
Medium35.13
Small8.10
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings10.860.86
Price/Book1.390.75
Price/Sales0.970.81
Price/Cash Flow7.450.90
Dividend-Yield Factor5.461.21
 
Long-Term Projected Earnings Growth7.330.86
Historical Earnings Growth-9.02-1.94
Sales Growth-0.010.00
Cash-Flow Growth-6.223.03
Book-Value Growth2.910.68
 
Category: Europe Equity Income
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock99.180.0099.18
Bond0.000.000.00
Property0.000.000.00
Cash0.820.000.82
Other0.000.000.00
World Regions28/02/2025
 % of EquityRelative to Category
United States4.621.75
Canada0.000.00
Latin America0.00-
United Kingdom27.551.38
Eurozone58.041.00
Europe - ex Euro9.790.50
Europe - Emerging0.000.00
Africa0.00-
Middle East0.000.00
Japan0.000.00
Australasia0.00-
Asia - Developed0.000.00
Asia - Emerging0.00-
 
Category: Europe Equity Income
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials4.770.83
Consumer CyclicalConsumer Cyclical7.660.92
Financial ServicesFinancial Services21.260.84
Real EstateReal Estate2.802.71
Consumer DefensiveConsumer Defensive11.741.16
HealthcareHealthcare11.680.93
UtilitiesUtilities4.350.74
Communication ServicesCommunication Services10.171.88
EnergyEnergy10.982.04
IndustrialsIndustrials8.610.54
TechnologyTechnology5.991.38
 
Category: Europe Equity Income
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings42
Total Number of Bond Holdings0
Assets in Top 10 Holdings31.34
NameSectorCountry% of Assets
Fresenius SE & Co KGaA206Germany3.54
Reckitt Benckiser Group PLC205United Kingdom3.33
BP PLC309United Kingdom3.18
Hellenic Telecommunication Organizati... 308Greece3.11
Ayvens310France3.09
National Grid PLC207United Kingdom3.08
Rio Tinto PLC Registered Shares101United Kingdom3.05
Shell PLC309United Kingdom3.05
Roche Holding AG206Switzerland2.96
Unilever PLC205United Kingdom2.94
 
Increase Decrease New since last portfolio
Category: Europe Equity Income
 
Management
Name of CompanyVan Lanschot Kempen Investment Management NV
Phone+31 20 348 80 00
Websitewww.kempen.nl
AddressBeethovenstraat 300
 Amsterdam   1077 WZ
 Netherlands
DomicileLuxembourg
Legal StructureSICAV
UCITSYes
Inception Date08/10/2013
Fund Advisor(s)
Van Lanschot Kempen Investment Management NV
Fund ManagerJoris Franssen
Manager Start Date15/05/2009
 
Biography
Mr. Franssen started to work for KCM in March 2006 as senior Portfolio Manager of the Kempen Dividend team. Het joined ING Investment Management Advisors in 1998 as a portfolio manager and is currently a member of the Global Equities team.
Fund ManagerLuc Plouvier
Manager Start Date15/05/2009
 
Biography
N/A
Fund ManagerMarius Bakker
Manager Start Date01/10/2019
Fund ManagerRobert van den Barselaar
Manager Start Date01/04/2021
Fund ManagerReineke Davidsz
Manager Start Date01/07/2021
Fund ManagerNajib Nakad
Manager Start Date09/05/2024
Career Start Year2004
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.75%
Ongoing Charge1.00%
Purchase Details
Minimum Investments
Initial1  EUR
Additional1  EUR
Savings-
Tax Free Savings Schemes
ISAsYes