Van Lanschot Kempen AUM stable in H1 2018

Van Lanschot Kempen AUM stable in H1 2018

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.”

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