Investment result Orange SeNSe Fund over the financial year 2006/2007
19/11/2007 09:06
Kempen & Co
Total investment result of Orange SeNSe Fund (OSF) based on net asset value over book year 2006/07 running from 1 October 2006 through 30 September 2007 amounted to 21.2%.
David Simons, managing director: "We are pleased to report strong investment results for the year ended 30 September 2007. We have now had positive returns for each of the 5 years since the fund's launch in 2002. Investment returns have been boosted by ongoing improvement of corporate results on the back of strong European economies, as well as a high level of cost consciousness, leading to record levels of corporate efficiency.
We do not consider ourselves capable of making predictions about the direction of stock markets, but we are not surprised about the stock market correcting after 5 years of uninterrupted gains. We take comfort in two things as long-term investors: 1) we believe we are invested in businesses that can withstand a short-term setback, managed by strong management teams that create value for shareholders through the ups and downs of the business cycle; 2) our investment philosophy is designed to invest when businesses become underappreciated, patiently awaiting for this opportunity to arise. Invariably, stock markets have recovered from a decline, setting new highs, creating wealth for long-term oriented shareholders. Based on our findings when we analyse companies, there remains an abundance of opportunities out there, so we look to the future with confidence and enthusiasm."
The annual report as at 30 September 2007 is expected to be available from the end of November 2007.
The key figures as at 30 September 2007 were as follows.
Net assets : EUR 131.0m
Number of outstanding shares: 4,081,971
Net asset value per share: EUR 32.09
Market price per share: EUR 32.00
Dividend paid per share: EUR 0.28 (January 2007)
Total investment return : 21.2%
Amsterdam, 19 November 2007
Kempen Capital Management N.V.
Bloomberg:
OSENS NA
Kempen & Co Profile
Kempen & Co N.V. (Kempen & Co) is a Dutch merchant bank providing various specialised financial services in asset management, corporate finance and securities brokerage. Clients include institutional investors, companies, financial institutions, public and semi-public institutions, foundations and high-net-worth private clients. Kempen & Co is a fully owned subsidiary of F. van Lanschot Bankiers N.V. (Van Lanschot). Van Lanschot and Kempen & Co as banks operate under license granted by the Dutch Central Bank ('De Nederlandsche Bank N.V.') in accordance with article 2:11 of the Act on Financial Supervision (Wet op het financieel toezicht or Wft), and are registered as securities institutions with the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiële Markten or AFM).
Kempen Capital Management N.V. (KCM), a fully owned subsidiary of Kempen & Co, provides asset management services. KCM manages portfolios in European equities, bonds and real estate securities for a range of institutional investors, foundations and high-net-worth private clients. Moreover, KCM offers integral fiduciary investment solutions and selects investment boutiques for its clients. KCM pursues optimal investment results and works with highly specialised management teams. KCM operates under a license in accordance with articles 2:65 and 2:96 of the Wft and is registered with the AFM.
Kempen & Co Corporate Finance B.V., a fully owned subsidiary of Kempen & Co, focuses on providing advice on mergers and acquisitions as well as capital market transactions. Clients include both listed and non-listed Dutch companies as well as foreign companies who have entered the Dutch market or are intending to do so.
Kempen & Co Securities focuses on securities brokerage, with special emphasis on Dutch equities and derivatives and publicly quoted real estate companies in Europe, serving professional investors in primarily Europe and the US. Kempen & Co Securities provides clients with high-quality research and order execution.
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