Off the Beaten Path: Staying True to Dividend Investing

Over the past few years, we have noticed a remarkable shift: the dividend yield of global dividend strategies has been in decline. Increasing exposure to mega-caps with steep valuations has shifted the category away from high dividend yields. On average, global dividend strategies have also increasingly resembled the MSCI World in terms of style tilt, thereby reducing the diversification benefits of investing in dividend equities. By sticking to our investment philosophy, our strategy increasingly stands out within the peer group, with a portfolio consisting of out-of-the-ordinary companies.