Fourth quarter 2022

Sustainable Dividends Value Fund Kwartaalbericht Q4 2022

The fourth quarter was by far the best quarter of the past year. With an almost 10% price increase, the recovery has clearly started. Most of the companies in the fund reported good third-quarter numbers and the full-year outlooks were revised upwards several times. Despite the nice price increases in the past quarter, the valuations of the shares in our fund are still very low. On average, less than 7 times the expected cash flow for 2023 is currently being paid for our sustainable and growing companies. The dividend yield of the shares is now close to 5%, which is an unprecedented high level. As a result, we see a huge potential for the stocks in our fund going forward and this offers good prospects for our investors. A decline in inflation in both the US and Europe caused the share prices of large European companies in the quarter to rise by an average of 9.6% (MSCI Europe Index). Both medium and small companies saw a share price increase of 10.9% (MSCI Europe Mid Cap Index and MSCI Europe Small Cap Index).

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Sustainable

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.