July 2023

Sustainable Dividends Value Fund Maandbericht Juli 2023

The past month was all about the second quarter results publications. No less than nine out of our 21 companies were reporting quarterly results or issuing a trading update. Despite all macro-economic worries and the fear for a recession, seven out of these nine companies reported an increase in revenues and profits. Fortunately, in most cases, like with SKF, Alfa Laval, Vopak, Airtel Africa and SMS, this was rewarded with an increase in the share price over the last month. Companies that are depending on developments in the construction sector, are becoming more careful with their predictions for the next few quarters. This is clearly the result of the rapid increase in interest rates over the last year and a half. In the end the share price of the fund was up 1.3% over the last month. On average, the share prices of companies in the MSCI Europe Index were up 1.9%.

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Sustainable

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

Dividends

When assessing an investment, dividends are very important.

Value

We use a proven process for valuing companies.
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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.