THE Great Investments made some changes to your recommended dividend portfolio.
In the broker’s assessment, July should reflect a dynamic similar to that of June, a month of strong decline for global stock markets.
Genial believes that there is still room for a worsening before any more positive signs, and therefore it has no appetite to seek stocks with greater upside potential.
“We will continue with value allocations in companies with lower volatility and diversified portfolios”, he says.
Genial is reducing exposure to commodities. According to the broker, the positive news about China since the end of May (flexibility of lockdowns) should not be more consistently reflected in the pricing of commodities and exporting companies.
“We chose to be conservative until we understand whether or not there is room for an allocation with less volatility”, he explains.
Thus, Gerdau (GGBR4) and OK (VALE3), together with SYN (SYNE3), left the dividend portfolio in July. Genial reinforced its portfolio with names from the electric sector: CPFL Energia (CPFE3), Energies from Brazil (ENBR3) and Taesa (TAEE11).
Genial’s dividend portfolio fell 14.02% in June, against an 8.38% drop in its benchmark, the Dividend Index (IDIV). In the year, the portfolio accumulated a negative return of 0.08%, compared to an increase of 4.58% in the IDIV.
Get the top Buy or Sell news!
Sign up for the Buy or Sell newsletter for free and receive, every day (Monday to Friday), a selection of the main news and notes on bank and brokerage portfolios, in addition to an exclusive product: the Money Wallet Times, the biggest consensus on the market. Click here to register!
O Money Times publishes informative articles of a journalistic nature. This publication does not constitute an investment recommendation.