Dividend potentially encapsulates everything we like in a participation and its management:

- Undervaluation

- Stable Franchise

- Sustainable Franchise

- Shareholder Friendly Management

- Strong Capital Allocation Skills

Proven strategy: From The Netherlands via Europe…

° 2000

° 2007

… to a Luxembourg sicav for exportDL L European Participation Fund

… to a new, promising region in 2011DL L Asian Participation Fund