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Kempen Team launches boutique

Kempen Team forms Munros

 

Kempen team launches boutique
Published by: eFinancialNews, 11 Sep 2006
Author: Renée Schultes

A team of five fund managers from Kempen Capital Management has set up an independent investment boutique ahead of Kempen's pending sale to Dutch banking group Van Lanschot.
The new firm, Munros Capital Management, will be led by led by Neil Dunn who left Kempen in February. Munros willl focus on European small- and micro-cap equities.

Kempen's board has approved a sale of the business to Van Lanschot, the Dutch banking group for €190m ($242m) in cash and €110m in shares. Kempen became independent in 2004 when its staff led a buyout from former parent Dexia.

Dunn is a founding member of Munros and was the founding partner of what is now known as Kempen Capital Management UK. He set up the underlying partnership in 1989 and negotiated its sale to Kempen & Co in 1997.

Joining him are chief equity strategist, Millar Law and fund managers William Murray, Alex Gowans and John van Kooten. Allaart Horst, who was head of institutional relations at Kempen, has also joined the new firm.

The investment team will be based in Edinburgh and client service offices will be maintained in Amsterdam and Denver.

Munros applies a fundamental bottom-up stock picking style. The team first started running this strategy in 1994 under Neil Dunn and Millar Law.