After a strong first quarter, our investors saw the fund’s share price take a step back in the second quarter. The return of -2.5% over the past three months results in a price increase of 3.4% for the first half of the year. While most companies’ first-quarter results were well received by the equity markets, the economic environment deteriorated as interest rates continued to rise and business sentiment declined in most European countries. Nevertheless, we expect most of the companies in our fund to show further growth in revenue and profit this year. The valuation of the shares in our fund is still very low. On average, less than 7 times the expected cash flow for 2023 is currently being paid for our diversified portfolio of sustainable companies. The dividend yield of the stock is now about 4%, which is historically quite high. All in all, this creates good prospects for our investors.



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.