This quarter we want to put the London listed Airtel Africa in the spotlight. The company is a telecom and mobile banking leader in 14 African countries and a British subsidiary of Indian Bharti Airtel.
As every quarter, we discuss one of the shares in the fund in this newsletter. Today we want to highlight the German Fresenius Medical Care. This company is the world’s largest provider of renal dialysis services. In addition, they also produce the equipment required for dialysis.
The Sustainable Dividends Value Fund has had a reasonable quarter. The investors in the fund achieved a return of 0.8% on their investment. This put us fractionally ahead of the MSCI Europe.
On July 7th, after a long wait due to covid, we were finally able to
organize a face to face event with our investors and prospects. In the
Cobra museum in Amstelveen the theme was “the art of investing”.
With the introduction of the Sustainable Finance Disclosure Regulation in March of this year, investment institutions have been forced by the legislator to show to what extent sustainability plays a role in their strategy.
On to “bigger and better things” now! At the end of the year, of course, the various investment gurus were concerned about the outlook for stocks and other markets (Bitcoin, Tesla anyone?).
Biotage, the Swedish manufacturer of laboratory equipment, was once again one of the best-performing stocks in the fund with a price increase of 27% in the past quarter. When reporting the figures for the first half of the year, management was cautious about the consequences of the crisis.
The Sustainable Dividends Value Fund had a particularly good second quarter. With a return of 17.3%, this was the best quarter since the fund’s inception. In addition, the return of the MSCI Europe, which showed an increase of 12.6% in the same period, was far exceeded.
The collapse of the global economic structure as a result of the rapid spread of the corona virus completely surprised policymakers, consumers and producers. In a few days there was nothing more to be seen of any stock market optimism.