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Uitkeringen, en hoe bedrijven die financieren, centraal stellen in de portefeuille.

Het portefeuille-idee

Uitkeringen, en hoe bedrijven die financieren, centraal stellen in de portefeuille.

Als uitgangspunt gebruiken

14 beleggingen

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Aandelen

60%

10 beleggingen · Doelbandbreedte 55–65%

Vanguard FTSE All-World DistIE00B3RBWM2515%

Rol: Broad global equities with distributions.
Risico: Market losses and variable distributions; currency exposure remains.

Vanguard All-World High Dividend DistIE00B8GKDB1015%

Rol: A broad core of global dividend-paying equities.
Risico: Dividends can fall; the income tilt changes sector exposure.

AllianzDE00084040054%

Rol: Insurance earnings, capital discipline and dividends.
Risico: Claims, capital requirements and financial-market losses can affect dividends.

ADPUS05301510364%

Rol: Payroll services and operating cash generation.
Risico: Employment sensitivity, client-fund rates and valuation risk.

NovartisCH00120052674%

Rol: Innovative medicines and pharmaceutical cash generation.
Risico: Patent expiries, clinical results and pricing decisions; ordinary Swiss share, not an ADR.

Procter & GambleUS74271810914%

Rol: Household and personal-care products.
Risico: Volume, pricing and margin pressure; defensive demand does not protect the share price.

Deutsche TelekomDE00055575084%

Rol: Connectivity services, including substantial US operations.
Risico: Network spending, leases and debt; a German listing does not remove US exposure.

National GridGB00BDR05C014%

Rol: Regulated electricity and gas networks in the UK and US.
Risico: Capital investment needs financing; regulatory, dilution and dividend risks remain.

Canadian National RailwayCA13637510273%

Rol: North American freight transport.
Risico: Cyclical freight volumes, network disruption and capital expenditure.

WMUS94106L10983%

Rol: Waste collection, disposal and related services.
Risico: Acquisition integration, environmental obligations and a demanding valuation.

Obligaties

25%

2 beleggingen · Doelbandbreedte 20–30%

Vanguard EUR Corporate Bond DistIE00BZ163G8415%

Rol: Distributing euro investment-grade corporate bonds.
Risico: Credit spreads and interest-rate changes can reduce value.

iShares EUR Government 0–1yr DistIE00B3FH761810%

Rol: Short euro government bonds, separate from cash.
Risico: A bond fund can lose value and is not a guaranteed deposit.

Vastgoed

10%

1 belegging · Doelbandbreedte 5–15%

SPDR Global Real Estate DistIE00B8GF1M3510%

Rol: Listed global property companies and REITs.
Risico: Listed property carries equity, financing and interest-rate risk.

Contanten

1 belegging · Doelbandbreedte 3–10%

Cash balance5%

Rol: Cash in the portfolio's base currency, separate from investment funds.
Risico: Inflation reduces purchasing power; no interest rate is assumed.

Het idee achter de opbouw

Acht bedrijven leveren verschillende operationele bronnen van dividend, naast uitkerende aandelen-, obligatie- en vastgoedfondsen.

De afweging

Uitkeringen zijn onregelmatig en kunnen dalen. Belastingen, financieringsbehoeften en dure aandelen kunnen het inkomensvoordeel uithollen.