The company-related themes
The thematic range of CPR AM is characterised by the diversity of its strategies to meet investors’ many needs. In addition to thematic and sectoral strategies linked to underlying trends, it also has all-sector themes that are exposed to the different strategic choices that companies may make in the course of their lives in order to optimise the use of their capital. These choices pursue two main goals: remunerating shareholders (through dividend and share buyback) or investing for future growth (through investment and external growth). Our cross-sectoral range is designed to follow the use of capital: broken down into two major themes, High Dividends and Special Situations, it makes it possible to benefit from the allocation of capital that has been chosen by the company’s management according to the goal it pursues.
Focus on high dividend thematic
FOCUS ON THE HIGH DIVIDENDS THEME
Dividends are distributed to remunerate capital risk and maintain shareholder loyalty. Instrument of communication and diplomacy as well, the dividend as approved in during shareholders’ general meeting represents a variable part of the profits made. Because they send a signal about the company’s financial stability and health, they are less volatile than results. We invest in companies with the highest “dividend rate”, meaning the dividend-price ratio. Our approach is based on an analysis of the soundness of the financial structure, which guarantees sustainable distribution of dividends without impoverishing the company. Unlike passive strategies (ETFs and index funds), it is therefore a matter of positioning ourselves not in companies that paid dividends the previous year but in companies that will actually pay dividends in the coming year.
Past performances are not a reliable indicator of future performances of the funds and of the funds manager.