Income and Opportunity
The
VPI Income Pool is built to deliver a steady stream of income and long-term
opportunity. Half the Pool is invested in bonds, providing stable income with a
5.3% yield, while the equity portion owns 39 businesses delivering a 4.2%
dividend yield.
During
the quarter, the portfolio manager exited Magna after a strong run and
redeployed capital into ADP. The Magna sale locked in substantial gains, while
ADP adds a business with recurring revenue and 51 consecutive years of dividend
increases.
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