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

14.5%

Positions

38

Median Market Cap ($bn)

$120

Dividend Yield

2.3%

TR One Year Median Div Growth

7.0%

Net debt to EBITDA

1.6

Media Return on Equity

20.0%

Trailing Weighted PE

20.5%

Forward Weighted EPS Growth

10.6%

Forward Weighted PE

18.3

Forward Weighted EPS Growth

10.7%

Top 10 Holdings

Weighting

Raytheon Technologies

4.0%

HCA Healthcare

3.8%

Merck

3.5%

Coca-Cola Company

3.3%

JPMorgan Chase & Co.

3.3%

Johnson & Johnson

3.3%

Morgan Stanley

3.0%

Chevron

3.0%

Bank of America

3.0%

Microsoft Corporation

3.0%

Sector Exposure

Strategy

Russell 1000 Value Index

Difference

Consumer Discretionary

2.0%

10.0%

-8.0%

Consumer Staples​

13.0%

6.6%

6.4%

Energy

9.5%

6.8%

2.7%

Financials

13.5%

19.4%

-5.9%

Health Care

12.5%

14.9%

-2.4%

Industrials

19.0%

18.6%

0.5%

Information Technology

19.3%

7.0%

12.3%

Materials

2.0%

3.0%

-1.0%

REITS

4.0%

4.9%

-0.9%

Telecommunications

0.0%

3.8%

-3.8%

Utilities

0.0%

5.0%

-5.0%

Cash

5.2%

0.0%

5.2%

SECTOR EXPOSURE Strategy Russell 1000 Index Value Difference
Consumer Discretionary 2.0% 10.0% -8.0%
Consumer
Staples
13.0% 6.6% 6.4%
Energy 9.5% 6.8% 2.7%
Financials 13.5% 19.4% -5.9%
Health Care 12.5% 14.9% -2.4%
Industrials 19.0% 18.6% 0.5%
Information Technology 19.3% 7.0% 12.3%
Materials 2.0% 3.0% -1.0%
REITS 4.0% 4.9% -0.9%
Telecommunications 0.0% 3.8% -3.8%
Utlilites 0.0% 5.0% -5.0%
Cash 5.2% 0.0% 5.2%
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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.