明星基金經理的選擇:2013年15大金股
聯(lián)合利華 斯圖加特·瑞弗貝萊德全球基金 股票代碼:(UL) 地區(qū):歐洲 ????沒錯,聯(lián)合利華(Unilever)的總部或許在歐洲,但發(fā)家卻是在新興市場。這家包裝食品和消費品提供商有50%以上的銷售額來自發(fā)展中世界;剔除收購效應,今年這部分銷售額已實現(xiàn)了12%的增長。管理著12億美元貝萊德全球基金的斯圖加特·瑞弗表示,這家公司在海外有很強的優(yōu)勢。瑞弗稱:“聯(lián)合利華在印度已有70多年的歷史。”過去三年,他管理的基金年均回報9.4%,高于全球83%的股票基金。他說,當其他公司只是在新興市場中設立銷售網絡和供應鏈時,聯(lián)合利華已站穩(wěn)腳跟,大踏步前進?!盁o需附加成本,他們就能將產品送到消費者面前。” ????正是基于此類原因,聯(lián)合利華才能擁有健康的14%經營利潤率,才能將50%的自由現(xiàn)金流返還給股東。瑞弗指出,過去幾年該公司連續(xù)每年以6%-8%的幅度上調股息。他預計未來幾年,聯(lián)合利華的派息——當前股息收益率為3.3%——將繼續(xù)保持增長。 ????--M.K. |
Unilever Stuart Reeve?BlackRock Global Dividend Income Ticker:?(UL) Around the globe pick:?Europe ????Unilever may be headquartered in Europe, but it's thriving in emerging markets. The purveyor of packaged foods and consumer products does more than 50% of its sales in the developing world, and those sales have risen 12% this year, excluding the effect of acquisitions. Stuart Reeve, manager of the $1.2 billion?BlackRock Global Dividend Income Fund?(BABDX), says the company has a strong advantage overseas. "Unilever has been in India for well over 70 years," says Reeve, whose fund has returned 9.4% a year over the past three years, topping 83% of world stock funds. While other businesses are just setting up sales networks and supply chains in emerging markets, he says, Unilever is already up and running. "They're well positioned to get their products in front of consumers without employing extra costs." ????That's one reason Unilever boasts a healthy 14% operating margin and why it's able to return 50% of its free cash flow to shareholders. Over the past few years, Reeve says, it has consistently raised its dividend at a rate of 6% to 8% per year. He expects Unilever's payout -- the stock currently yields 3.3% -- to continue its ascent over the next few years. ????--M.K. |