US Dividend GROWTH

Inception:
May 2014

7%

Trailing
Median DGR¹

GIPS
Compliant Firm²

U.S. Dividend GROWTH

Inception:
May 2014

7%

Trailing Median DGR¹

GIPS
Compliant Firm²

Incepted in May 2014, the Blue Current US Dividend Growth strategy builds on the team’s decade of global investing experience to select high quality, US-based dividend-paying companies. The primary objectives are to pay a stable and increasing dividend each quarter and deliver attractive long-term capital appreciation to investors.

The Blue Current investment team concentrates on a select portfolio of 35-45 US domiciled companies that meet our stringent qualities. We focus on companies that we believe have a history of rewarding shareholders and have the financial ability to continue to increase the dividend over time. We strive to purchase those businesses when they are trading at a discount to their true value, delivering to investors a total return solution.

HISTORICAL TOTAL RETURNS

(*annualized)

Portfolio Qualities

Std Deviation Since Inception

14.0%

Positions

35

Median Market Cap ($bn)

$126

Dividend Yield

2.1%

TR One Year Median Div Growth

6.7%

Net debt to EBITDA

1.7

Media Return on Equity

22.6%

Trailing Weighted PE

20.6

Forward Weighted EPS Growth

13.4%

Forward Weighted PE

18.1

Forward Weighted EPS Growth

10.0%

Top 10 Holdings

Weighting

RTX Corporation

4.4%

J.P. Morgan Chase & Co.

4.0%

Broadcom Inc.

3.9%

Microsoft Corporation

3.3%

Morgan Stanley

3.3%

Chevron Corporation

3.3%

Johnson & Johnson

3.2%

Oracle Corporation

3.0%

Targa Resources Group

3.0%

Highwoods Properties, Inc.

3.0%

Sector Exposure

Strategy

Russell 1000 Value Index

Difference

Consumer Discretionary

2.2%

7.7%

-5.5%

Consumer Staples​

10.8%

7.6%

3.2%

Energy

6.3%

5.9%

0.4%

Financials

19.9%

22.6%

-2.7%

Health Care

7.5%

11.7%

-4.2%

Industrials

16.7%

13.1%

3.6%

Information Technology

16.8%

10.5%

6.3%

Materials

1.7%

4.2%

-2.5%

REITS

8.4%

4.2%

4.2%

Telecommunications

0.0%

7.9%

-7.9%

Utilities

2.9%

4.6%

-1.7%

Cash

6.8%

0.0%

6.8%

SECTOR EXPOSURE Strategy Russell 1000 Index Value Difference
Consumer Discretionary 2.2% 7.7% -5.5%
Consumer
Staples
10.8% 7.6% 3.2%
Energy 6.3% 5.9% 0.4%
Financials 19.9% 22.6% -2.7%
Health Care 7.5% 11.7% -4.2%
Industrials 16.7% 13.1% 3.6%
Information Technology 16.8% 10.5% 6.3%
Materials 1.7% 4.2% -2.5%
REITS 8.4% 4.2% 4.2%
Telecommunications 0.0% 7.9% -7.9%
Utlilites 2.9% 4.6% -1.7%
Cash 6.8% 0.0% 6.8%
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Important Disclosures

¹ DGR: Dividend Growth Rate. Calculated using the median trailing 12-month dividend growth rate of the portfolio at the end of each quarter.

² GIPS® is a registered trademark owned by CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.