Van Lanschot Kempen AUM stable in H1 2018

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Dutch financial group Van Lanschot Kempen has released figures for the first half of 2018. Its net result has dropped to €39.3m against €62.3m in H1 2017.

Overall assets under management of Van Lanschot Kempen have increased by €0.1bn since the end of 2017 to €69.1bn.

In detail, private banking assets rose by €0.2bn to €22.8 billion, whereas the asset management segment saw AuM trimmed by €0.1bn to €45.4bn after Van Lanschot Kempen funds faced outflows.

Notwithstanding the Dutch group expects growth in asset management with the Arcadis pension fund mandate effective since 1 July and several other mandates in the pipeline.

The group’s CET1 ratio was 21.4% at the end of H1 2018 with return on equity amounting to 8.7%. Additionally, costs have soared in comparison with last year due to the earlier acquisition of UBS’ wealth management activities in the Netherlands.

Karl Guha, chairman of Van Lanschot Kempen, said: “Over the past six months, we have continued to work on strengthening our position as a specialist wealth manager. Our results – a sharp increase in commission income, net inflows at Private Banking and a robust capital position – made for a solid start to the year. That said, our efficiency ratio has risen, and has our full attention.

“We’re happy that our strong capital position enables us to propose returning €1.50 per share to our shareholders. We thank our clients and shareholders for their loyalty and the trust they put in us.”