PORTFOLIO

Our investment approach

Long-term investment horizon

The KENFO is a long-term investor, operating over a long investment horizon of 80 years.

Global and broad diversification

KENFO invests in various liquid and illiquid asset classes that are broadly diversified across different regions, sectors, credit ratings and investment styles

Active management

Certain asset classes and markets have characteristics that allow active management to generate excess returns over a benchmark. The KENFO portfolio therefore uses active investment strategies as well as passive ones.

Sustainability

The integration of environmental, social and governance criteria supports KENFO's return objective and is an integral part of its investments.

Achieving returns

KENFO must orient its investments to generate returns in order to ensure the financing of nuclear waste management.

Key Figures 2021

24,1 BILLION EUR

Paid-in foundation capital

3 BILLION EUR

Disposal costs paid to date

44

Employees are taking care of KENFO and its portfolio

90

KENFO is currently invested in more than 90 countries

9.000

KENFO assets are currently invested in over 9,000 individual positions

2050

the KENFO portfolio is climate neutral at the latest

Our Portfolio

Equities

KENFO invests 35% of its portfolio in exchange-traded equities. Active allocation strategies and management of the portfolio contribute to the achievement of returns.

35%

 

Risky bonds

KENFO invests 25% of its portfolio in risky corporate bonds and emerging market government bonds. Currently, KENFO is invested in more than 90 countries worldwide and in various industries. Active strategies and varying credit ratings help to generate returns. 

25%

 

Low-risk government bonds

Investments in low-risk government bonds take into account bonds issued by industrialized countries as well as bonds issued by development banks (agencies) and so-called supranationals. KENFO is invested to 10% in these investments.

10%

 

Illiquid investments

Under illiquid investments, KENFO combines its investments in the asset classes private equity, private debt, infrastructure as well as real estate. These investments allow KENFO to tap sources of return outside the traditional capital markets and to diversify the portfolio more broadly. In total, 30% of KENFO's total investments are allocated to these asset classes.

30%

 

Investments

The KENFO is currently invested in more than 90 countries

34%

of the assets are invested in North America

39%

of the investments are in the European market

3%

are invested in South America

15%

of assets are invested in Asia

9%

are invested in the rest of the world