Impact Investing Starts With Manager Discipline, Not Narratives

Inside the selection process at Van Lanschot Kempen, this January paper lays out how rigorous manager due diligence underpins credible impact investing without sacrificing returns.

• Manager selection rests on three non-negotiables: credible impact integration, highly capable teams, and a proven track record linking impact delivery directly to financial performance.

• Impact is assessed as an investment driver—through intentionality, additionality, and performance consistency—rather than a reporting overlay.

• Case studies show that thematic alignment alone is insufficient when governance, incentives, or portfolio construction discipline fall short.

What distinguishes durable impact from well-intentioned storytelling? The full report opens the engine room on how disciplined selection protects both capital and outcomes.