Dividends have kept up with global equities

2 July 2026

Dividends have kept up with global equities

Global equities have risen this year, driven by a small group of AI-related companies, while dividend strategies have kept pace without the same concentration. Beneath the strong headline returns, market leadership has been far narrower than it appears, with a limited number of AI beneficiaries accounting for the majority of gains.

As AI narratives continue to dominate markets and influence valuations, investors face an increasingly complex landscape where perception and fundamentals do not always align. In this latest Market Musings, we examine the growing concentration behind global equity returns, the opportunities created by market mispricing, and why dividend strategies have remained resilient despite the AI-driven rally.

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Disclaimer
Van Lanschot Kempen Investment Management NV (VLK Investment Management) is licensed as a manager of various UCITS and AIFs and authorised to provide investment services and, as such, is subject to supervision by the Netherlands Authority for the Financial Markets. This document is for information purposes only and provides insufficient information for an investment decision. It does not constitute investment advice, an investment recommendation, research, or an invitation to buy or sell any financial instruments and should not be interpreted as such.The views expressed in this document are those of VLK Investment Management at the time of publication and may be subject to change without notice.

Il y a un dicton en néerlandais, Kom verder, qui ui signifie beaucoup de choses, et c'est notre philosophie d'entreprise. Il reflète la façon dont nous travaillons avec nos clients, mais aussi la manière dont nous dirigeons nos entreprises participantes pour créer de la valeur pour les actionnaires grâce à un engagement actif.

Risque de perte en capital. La valeur des investissements et des revenus qui en découlent peut évoluer à la hausse comme à la baisse. Les investisseurs sont susceptibles de ne pas récupérer l’intégralité de leur investissement initial. Les performances passées ne présagent pas des performances futures et ne sont pas constantes dans le temps.