The Dutch bank blamed losses on its structured products activities in the first half of 2020 on high volatility and illiquidity of the markets.
Van Lanschot Kempen has reported losses of €27.3m in its structured product portfolio – €21.9m was recorded in the first quarter with an additional loss of €5.5m in the second quarter. Losses were mainly due to the further decline in dividend expectations in the market at the beginning of the second quarter and the hedging of the existing portfolio. In normal market conditions, this portfolio does not typically show any major swings Result on hedges fell in comparison w
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