Phoenix Fund reopens

30 January 2023

Phoenix Fund reopens

Van Lanschot Kempen Investment Management was notified on Friday 27 January that the ruling of the Supreme Court regarding the right for compensation with regard to the expropriated SNS Bank and SNS Reaal bonds will be upheld. It will therefore not become clear in the short term whether compensation will be awarded to the SNS claim holders. The Phoenix Fund (ISIN code: NL0009864487) will therefore reopen on Monday 30 January after 4:00 pm for the purchase or sale of its own shares. The next NAV will be published on Wednesday morning 1 February.

The fund was temporarily closed after 4 p.m. on 26 January due to the significant size of the SNS position in the fund in combination with the uncertain price development in the event of compensation being awarded by the Supreme Court and the non-marketability of the securities in the period after the pronunciation. The decision to do so was taken to protect the current participants in the Phoenix Fund against possible mispricing, dilution and/or unexpected price reductions on the underlying asset.

Disclaimer

Phoenix Fund (the “Subfund”) is a subfund of Kempen Umbrella Fund II NV (the “Fund”). Van Lanschot Kempen Investment Management (VLK IM) is the management company of the Fund. VLK IM is authorised as a management company and regulated by the Dutch Authority for the Financial Markets (AFM). The Subfund is registered under the license of Van Lanschot Kempen Investment Management at the Dutch Authority for the Financial Markets (AFM).

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch and English) and the prospectus (available in English). These documents are available on the Website of VLK Investment Management (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.

About Van Lanschot Kempen
As a wealth manager, Van Lanschot Kempen is active in Private Banking, Investment Management and Investment Banking. Our goal is to preserve and build wealth in a sustainable way, both for our clients and for the society of which we are a part. We are a sustainable wealth manager with a long-term focus, which means we proactively aim to prevent negative impacts for all stakeholders and to create long-term positive financial and non-financial value. Van Lanschot Kempen, listed on Euronext Amsterdam, is the oldest independent financial institution in the Netherlands with a history dating back to 1737. To unlock the full potential of our organization for our clients, we offer solutions that build on the knowledge and expertise of the entire group and on our open architecture platform. We are convinced that we can meet the needs of our customers in a sustainable way by providing them with access to the full range of services and products across all our business units.

For more information, see: vanlanschotkempen.com

This news item is not an offer or an invitation to make an offer to buy or sell or otherwise acquire or subscribe to financial instruments and is not AN advice or a recommendation to take or refrain from taking any action.

There’s a saying in Dutch, Kom verder, it means many things and it’s our business philosophy. It captures the way we work with clients but also the way we steer our investee companies to deliver shareholder value through active engagement.

Capital at risk. The value of investments and the income from them can fall as well as rise, and investors may not get back the amount originally invested. Past performance provides no guarantee for the future.