December 2023

Sustainable Dividends Value Fund Maandbericht December 2023

December was by far the best month of the year and investors saw the value of their investment in the fund increase by 8.2%. The further fall in interest rates in the United States and Europe caused price recovery in stock markets. As a result, the MSCI Europe Index rose by 3.7% in December. The European Mid Cap index recorded a plus of 5.1% and Small Caps rose on average by 7.0% in value. In our fund, KKR’s takeover bid for Smart Metering Systems (SMS) stood out. As a result, the share price of the London listed company rose by 45%. More generally, the prices of companies in the capital goods sector were sharply higher. It is expected that the companies in this sector will benefit above average from lower interest rates and see their order book grow again in 2024. The total return for the Sustainable Dividend Value Fund over 2023 came to 5.6%, which is very close to the long-term average return of our fund. For the coming quarters, we expect a further recovery in share prices. For investors there are now many opportunities to buy stock of great companies at attractive price levels. You will soon find an example of this in our quarterly report. Since the launch of the fund in 2016, we have now achieved almost 57% return.

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Sustainable lasts longer, both for our world and for our capital.

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When assessing an investment, dividends are very important.

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The fund

Sustainable Dividends offers an investment fund that invests in a well-diversified portfolio of European companies at the forefront of the sustainability transition. Our focus is on a disciplined investment process, while applying both qualitative and quantitative financial criteria.

Testimonials

Harm Welleweerd
Former CEO iwell

Companies that see circular commodities and the clean energy transition as real opportunities have the best chances for successful growth. The Sustainable Dividends Value Fund focuses especially on this type of companies. This offers me greater certainty of returns and the chance to invest equity capital in accelerating the transition into a more sustainable society.

Bart van Asten
CTO of WorldACD Market Data

The Sustainable Dividends Value Fund invests in companies that take sustainability seriously. The fund is run by experienced people whom I have known for a long time and in whom I have great confidence. Those two factors ensure that I have been a participant in the fund for many years with peace of mind.

Milko Brinkman
Founder Brinkman Financial Consultants

The Sustainable Dividends team strives for socially sustainable impact. The world is changing rapidly. From my beach house, I saw Boskalis doing sand replenishment, TKH pulling cables to offshore wind turbines and Fugro mapping the North Sea and coastlines. Ørsted builds offshore wind farms, Vopak takes care of hydrogen storage and LNG, and SKF supplies ball bearings for wind turbines. Investing is that simple, and the Sustainable Dividends Value Fund invests in some of these companies.

Michiel Langezaal
co-founder and CEO Fastned

What really appealed to me about Sustainable Dividends is the story. First, we invest only in sustainable companies. Then, we look for companies that show an upward trend in dividend payments because companies with growing dividends have historically achieved above-average returns. A refreshingly simple and clear strategy that gives me confidence.