October 2022
Better than expected quarterly figures made for a good month for the fund. The price rose by 7.5% after the majority of our shares showed a positive return. Despite this beginning of a recovery, the companies in the fund are still trading on the stock exchange at a much lower price than what these companies are really worth. We see an average price potential for our shares of approximately 90% in the medium term. And with an average valuation of less than 7 times expected cash flow, our sustainable businesses have never been cheaper. The dividend yield of the shares is now close to 5% and that also has never happened before. All in all, these are good prospects for those who dare to bite through the sour apple of a temporary dip in stock prices. Good quarterly figures and the first indications of a slight decrease in inflation and a cooling down of the economy provided some optimism among investors. The prices of large European companies rose by an average of 6.2% (MSCI Europe Index). Mid-sized companies saw a price increase of 7.1% (MSCI Europe Mid Cap Index) and small companies an average of 7.0% (MSCI Europe Small Cap Index).
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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.