Priorité au revenu
Placer les distributions, et la manière dont les entreprises les financent, au centre du portefeuille.
L’idée du portefeuille
Placer les distributions, et la manière dont les entreprises les financent, au centre du portefeuille.
L’analyse n’est pas encore publiée
Les placements, les pondérations et les arbitrages restent disponibles. Les mesures enregistrées sont actuellement indisponibles.
Actions
60 %10 placements · Fourchette cible 55–65 %
Vanguard FTSE All-World DistIE00B3RBWM2515 %
- Rôle
- Broad global equities with distributions.
- Risque
- Market losses and variable distributions; currency exposure remains.
Vanguard All-World High Dividend DistIE00B8GKDB1015 %
- Rôle
- A broad core of global dividend-paying equities.
- Risque
- Dividends can fall; the income tilt changes sector exposure.
AllianzDE00084040054 %
- Rôle
- Insurance earnings, capital discipline and dividends.
- Risque
- Claims, capital requirements and financial-market losses can affect dividends.
ADPUS05301510364 %
- Rôle
- Payroll services and operating cash generation.
- Risque
- Employment sensitivity, client-fund rates and valuation risk.
NovartisCH00120052674 %
- Rôle
- Innovative medicines and pharmaceutical cash generation.
- Risque
- Patent expiries, clinical results and pricing decisions; ordinary Swiss share, not an ADR.
Procter & GambleUS74271810914 %
- Rôle
- Household and personal-care products.
- Risque
- Volume, pricing and margin pressure; defensive demand does not protect the share price.
Deutsche TelekomDE00055575084 %
- Rôle
- Connectivity services, including substantial US operations.
- Risque
- Network spending, leases and debt; a German listing does not remove US exposure.
National GridGB00BDR05C014 %
- Rôle
- Regulated electricity and gas networks in the UK and US.
- Risque
- Capital investment needs financing; regulatory, dilution and dividend risks remain.
Canadian National RailwayCA13637510273 %
- Rôle
- North American freight transport.
- Risque
- Cyclical freight volumes, network disruption and capital expenditure.
WMUS94106L10983 %
- Rôle
- Waste collection, disposal and related services.
- Risque
- Acquisition integration, environmental obligations and a demanding valuation.
Obligations
25 %2 placements · Fourchette cible 20–30 %
Vanguard EUR Corporate Bond DistIE00BZ163G8415 %
- Rôle
- Distributing euro investment-grade corporate bonds.
- Risque
- Credit spreads and interest-rate changes can reduce value.
iShares EUR Government 0–1yr DistIE00B3FH761810 %
- Rôle
- Short euro government bonds, separate from cash.
- Risque
- A bond fund can lose value and is not a guaranteed deposit.
Immobilier
10 %1 placement · Fourchette cible 5–15 %
SPDR Global Real Estate DistIE00B8GF1M3510 %
- Rôle
- Listed global property companies and REITs.
- Risque
- Listed property carries equity, financing and interest-rate risk.
Liquidités
5 %1 placement · Fourchette cible 3–10 %
Cash balance5 %
- Rôle
- Cash in the portfolio's base currency, separate from investment funds.
- Risque
- Inflation reduces purchasing power; no interest rate is assumed.
L’idée de la construction
Huit entreprises fournissent différentes sources opérationnelles de dividendes, aux côtés de fonds actions, obligataires et immobiliers à distribution.
L’arbitrage
Les versements sont irréguliers et peuvent baisser. Les impôts, les besoins de financement et des actions chères peuvent éroder l’avantage de revenu.