September 2023

Sustainable Dividends Value Fund Maandbericht December 2023

The US central bank’s warning of a possible interest rate hike at the end of the year had an impact on global stock markets. And although the European Central Bank hinted that it would leave interest rates unchanged for the time being, stock prices in Europe also fell. Large caps lost an average of 1.6% while mid and small caps fell by 2.9% and 3.1% respectively. The problems in the offshore wind sector now also appear to have spread to Europe. At a recent auction of a large new wind turbine lot in the United Kingdom, there were exactly zero bidders. This means that the sector will experience a significant delay in rolling out new projects. This is a reason for us to shift the course of the fund slightly. We have sold our position in Ørsted and choose to sit on the sidelines until there is a prospect of either higher energy prices or better subsidy schemes. Overall, we saw the fund’s price fall 3.1% over the past month.

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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.