FONDS professionell Deutschland, Ausgabe 1/2020

Value Investing with Dividend Safety Net C ullen Funds is well known to American investors and is experiencing strong success with european markets. Cullen Funds is the UCiTS branding for Schafer Cullen Capital Management based in new York. in its 30-plus years in business, the firm has built a loyal US following for its no nonsense invest- ment philosophy of buying cheap, buying quality and buying dividend yield and growth. Cullen Funds is seen as a conservative, safe pair of hands. The investment process is de- pendable, easy to understand and repeatable. The employee-owned firm has amassed over $20 billion under management as a result. its flagship High Dividend Value equity strategy is the company’s oldest and largest at around $13 billion, bought by institutional and private value, for equity and income investors. The UCiTS version of the fund is known as the north American High Dividend fund. in 2013, the enhanced equity income Fund was launched which adds selective call writing for additional income generation. The firm also added global and emerging market variants of the same va- lue and dividend strategy around a decade ago; the emerging Markets High Dividend Fund and the global High Dividend Fund. These stra- tegies provide a great way for investors to di- versify their portfolios globally. Jim Cullen, Cullen Funds’ chief executive, has built the firm’s track record around the wis- dom of legendary investor Benjamin graham. When graham left the industry, he told his fol- lowers to focus only on two principles: don’t overpay and be a long-term investor. Cullen is always surprised by how many investors forget one or both of those fundamentals. ‘Price-to-earnings, price-to-book and dividend yield provide a solid discipline and downside protection. Add in dividend growth, and your long-term return potential is improved,’ says Cullen, ‘At the moment, everyone is obsessed with the index. it is a melt-up market where momentum is more important than investment discipline.’ ‘The market marches higher and keeps rea- ching record highs. Volatility is rising and there is potentially more on the way. We have less volatility because of our strong and growing di- vidends. Yet even we like a correction every on- ce in a while, it brings out the opportunities and lower valuations,’ adds Cullen. That unswerving investment approach of va- lue, dividend and dividend growth has served the portfolio well. The protective yield element has added to the long-term, compounded re- turns of investors, many of whom have held po- sitions since the strategy's inception. PA R T N E R - P O R T R Ä T Strict adherence to its investment process and a long-term time horizon have paid dividends for Cullen Capital Management and its clients. SCHAFER CULLEN CAPITAL MANAGEMENT KONTAKT AAB Asset Services gmbH Halderstr. 21 D-86150 Augsburg Tel.: .................................. 0821/319515-207 Fax: .................................. 0821/319515-270 e-Mail: ..................................... info@aab-as.de internet: ....................... www.cullenfunds.com Anzeige • Foto: © AAB Asset Services | www.michaelbenabib.com, beatrice prève | stock.adobe.com Rahul Sharma, Executive Director/Portfolio Manager CULLEN FUNDS Founded in 1983, Schafer Cullen Capital Management, Inc. and its affiliated firm, Cullen Capital Management, LLC, currently manage approximately $21 billion for institutions and individuals. We believe that our philosophy of investing for the long term, based on thorough fundamental research and a valuation discipline, is appropriate in any market environment. ein Partner der