Young Professionals: Paul van Kempen (MN)
This special was originally written in Dutch. This is an English translation.
The world in which investors operate has become more complex and unpredictable in a short period of time. Geopolitical tensions, technological developments and structural transitions are increasingly setting the agenda. Financial Investigator asked young professional Paul van Kempen, Real Estate Portfolio Manager at MN, how he experiences these developments in his daily work.
By Daan Nijssen
How do geopolitical themes and risks affect your team or organisation, for example in analyses, decision-making or reporting?
‘Geopolitics is a recurring theme in our real estate team, both in our own investments and those of our co-investors. We see that many investors increasingly regard Europe as an interesting market and have also become more cautious about US allocations. Given our strong focus on impact, the political course in the US poses a real risk. Anti-ESG sentiment makes it difficult to make investments that meet our ESG standards, particularly in the area of sustainability.
Anti-ESG sentiment in the US makes it difficult to make investments that meet our ESG standards frameworks.
Within our organisation, our Thematic Research department plays an important role. They identify geopolitical trends and provide scenarios that we integrate into strategic discussions, due diligence and monitoring. Our analysis focuses on both direct and indirect effects. Directly, we look at policy proposals such as the One Big Beautiful Bill with section 899, and the discussion about possible restrictions on purchases of single-family homes by large institutional investors. Indirectly, we assess the broader geopolitical dynamics: possible tariffs affecting supply chains and changes in energy and sustainability policy as a result of conflicts. These types of uncertainties ultimately affect risk profiles, allocation choices and business plans.
Our clients are also very much concerned with geopolitics. We see this reflected in their policies and discussions on the subject. That is why we take this risk into account when monitoring the portfolio and making investment and divestment proposals.
Everyone agrees on one thing: geopolitics will continue to be an even bigger factor in the coming period than we have been accustomed to in the recent past.’
Read the original special in Financial Investigator magazine
