DD Income Fund is an actively managed global sustainable bond fund that strives for a broad and sustainable interpretation of the fixed income investment category through at least 30 individual fixed income securities in the portfolio. The fund can invest worldwide in government (guaranteed) bonds of developed and emerging countries, corporate bonds (investment grade and high yield) and in microfinance and other financial instruments with a stable income.

1. Sustainability: sustainability makes a positive contribution to the risk-return profile of a company. Sustainable companies have a long-term focus and are more innovative
2. Business model: a strong business model is essential for the long term, we prefer companies with a strong brand, a solid market position and high margins
3. Management & track record: a company's management must have a proven track record with regard to turnover and profit growth
4. Balance: a strong balance sheet position is of great importance. It provides a buffer to get through difficult periods and opportunities to invest sufficiently in your own business model
5. Appreciation: paying a reasonable price for an investment is important to achieve the return target

Sustainability analysis is an important part of our investment process. Sustainability is the first part of the DoubleDividend Wheel of Five. The Spanish electricity company Iberdrola, part of the DD Income Fund portfolio, is a Spanish multinational active in the energy sector. The company is mainly active in Spain, the United Kingdom, the United States, Mexico and Brazil. The company employs 35.000 people who provide energy to more than 100 million people. Turnover amounted to more than 2019 billion euros in 36.

According to figures from the International Energy Agency, the energy sector is responsible for 75% of global CO2 emissions. Electricity generation is responsible for 42% of global CO2 emissions. For example, 40% of electricity is generated by using coal and only 15% by energy from sustainable sources. The percentage of energy generated by coal has increased significantly in recent years because China and India in particular are highly dependent on coal and the energy demand in these countries is increasing significantly. The share of electricity generation in global CO2 emissions is increasing.

The sector can (or better yet 'must') become part of the solution to the climate problem by significantly and quickly changing the energy mix. This requires a lot of investments. A larger part of the electricity must be generated in a sustainable way. Iberdrola is a company that sets an example in this regard. Since 2000, the company has focused entirely on making the electricity supply CO2-free. To achieve this, Iberdrola, together with partners, has invested 2000 billion euros in the generation and storage of energy from sustainable sources since 100. More than 60% of Iberdrola's energy generation capacity now consists of sustainable sources (mainly wind and hydro). Iberdrola also invests heavily in energy storage options, which also plays an important role in the energy transition. To finance these investments, the company issues bonds, a number of which the DD Income Fund has purchased. This way we can immediately achieve a positive impact with our investments and Iberdrola becomes part of the solution instead of part of the climate problem. For more information see the website DoubleDividend.