Kempen Capital Management has introduced the Kempen (Lux) Global Listed Infrastructure Fund. Kempen claims to be the first Dutch manager to launch a fund that manages investments on a global scale in listed companies that own or manage infrastructure.
The listed companies that are selected for the fund provide vital services to the community, including toll roads, airports, harbors and satellites. They are expected to generate stable and predictable cash flows, often indexed for inflation. The high entry barriers and monopolistic position of these companies typically have a positive influence on the risk-return ratio. As a result, these shares often show an above-average income profile and lower volatility relative to other shares.
Thomas van der Meij, senior portfolio manager at Kempen, says, “Research shows that 75 percent of the infrastructure that we will have in 2050 has not yet been built. We expect that its funding will increasingly be in the hands of private investors, and that real assets, including infrastructure, will take a more dominant position in investment portfolios in view of the current low-interest environment and the diversification benefits.”
Lars Dijkstra, CIO at Kempen, adds, “Infrastructure is relatively a new asset class. To Kempen, it is a logical next step to offer this asset class. We build on the know-how and the strong track record of our real estate team, as well as the expertise of the private markets team, which invests directly in infrastructure. The Kempen (Lux) Global Listed Infrastructure Fund will enable us to offer clients the comprehensive palette of real assets, with Kempen, as an active asset management house, adding value with a focus on the long term.”
The Kempen (Lux) Global Listed Infrastructure Fund is now for sale in the Netherlands.