Fund manager Robrecht Wouters has a highly selective, valuation-oriented investment style, which focuses on undervalued pan-European companies that generate high returns on capital. His stock-picking approach is unconstrained by benchmark weightings and combines traditional ‘value’ investing (focusing on attractive valuations) and ‘quality’ characteristics, such as high return on capital employed
Robrecht uses a disciplined, bottom-up stock selection process to find companies that he believes to be fundamentally undervalued
The investment approach is highly selective, focusing on cash flow generation and return on equity
The quality of the companies’ business models, rather than changes in earnings per share, is also essential; Robrecht believes that, over time, value companies with high ROCE and strong cash flow should outperform
In Robrecht’s view, a portfolio with higher quality companies and ideas, which are strong in conviction, provides greater potential for capital appreciation
Please note that this fund, under UCITS regulations, makes use of derivatives for the purpose of efficient portfolio management only. For further information on his derivatives use, please contact JOHCM Investor Relations.
Reasons To Invest
Robrecht has a very strong long-term track record and is a true value stock picker
The focus on quality and value factors typically leads to a low absolute volatility of returns despite the portfolio being fairly concentrated, with typically 40-50 stocks
The fund is aimed at investors who want to invest in a long-term, absolute return-orientated fund
Robrecht Wouters
Senior Fund Manager
Luis Fañanas
Fund Manager
This is a marketing communication.
Information on the rights of investors can be found here.
The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investments include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.
Other European Equity Funds
JOHCM Continental European Fund
Paul Wild manages this long-established fund with a pragmatic investment process that combines top-down economic and sector views with bottom-up stock picking. The Fund’s core style and risk profile has enabled it to outperform in both up and down markets and helped to build a market-leading performance track record since the Fund’s launch in 2
The Fund aims to achieve long-term capital appreciation by investing in the equity securities of companies listed primarily on exchanges in Europe, including the UK.
Information on the rights of investors can be found here.
The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investments include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.
Strategy Highlights
As at 30 April 2024
Despite receding headline inflation numbers, gradually improving European economic indicators have tempered expectations of imminent interest rate cuts. The European equities rally stalled setback in April, and the MSCI Europe returned -0.28%.
The fund, which completely ‘missed’ the market’s 2024 flying start (due to strong relative small cap headwinds and mainly one large stock-specific setback, Grifols, which we elaborated on in previous commentaries), turned the corner and returned 2.19%.
The fund’s positive performance was broad-based but also boosted by strong positive performances of energy-technology group Wartsila and oil group Galp Energy. Wartsila’s shares rallied 22% on strong quarterly results and rising order books. The market finally realises Wartsila’s clean energy credentials in shipping and grid power generation, but with the share price now breaking all-time highs and less ‘visible’ short-term value, we reduced the position size of our investment. Galp Energia’s shares soared 28% on the announcement of a more than 10 billion oil barrel discovery off the coast of Namibia: the discovery six-folds of Galps’ proven oil equivalent reserves. The development of the field is transformational for the company. Taking into account required capital investments, the discovery is worth the equivalent of the company’s market cap (before the news announcement).
The fund follows a disciplined, rational value strategy that combines a ‘classic’ value focus with a preference for ‘quality’ (high return on reinvestment) companies, and this is in the large and small caps space. Our fundamental bottom-up strategy is non-mainstream and inherently contrarian. This is illustrated just by looking at the top positions of the MSCI versus the fund. Portfolio activity was limited in April. We closed a residual position in brewer ABI (Anheuser-Busch InBev), not for fundamental value reasons (we still saw a 30% upside) but to consolidate existing high-conviction investments with significantly more upside. As such, at the end of April, the fund’s weighted average upside to intrinsic value stood at +154%.
This is a marketing communication.
Information on the rights of investors can be found here.
The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investments include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.
Information on the rights of investors can be found here.
The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investments include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.
Percentage growth of the fund versus benchmark
Data as at 30 April 2024
A GBP share class, since launch (5 May 2003)
Return history (%)
Data as at 30 April 2024
Standardised Performance
Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. The Funds investment include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.
Mar 19 - Mar 20
Mar 20 - Mar 21
Mar 21 - Mar 22
Mar 22 - Mar 23
Mar 23 - Mar 24
Fund
-24.48%
46.14%
-7.89%
4.63%
-6.10%
Monthly returns (%)
Data as at 30 April 2024
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Annual
Since inception
Fund
2003
0.80
4.66
4.55
7.71
0.25
5.29
0.24
2.63
29.00
Benchmark
2003
-0.05
1.39
2.63
2.60
-2.15
3.38
2.80
4.29
15.73
Fund
2004
3.33
3.00
-3.93
2.58
-3.25
3.82
-5.37
-0.54
2.97
2.66
5.77
2.17
13.26
Benchmark
2004
0.29
0.67
-2.87
2.72
-1.62
2.78
-3.46
1.74
3.72
1.99
4.64
1.22
12.07
Fund
2005
1.64
3.70
-0.58
-3.66
4.20
3.58
7.79
-0.82
2.76
-6.23
7.01
6.04
27.38
Benchmark
2005
-0.15
3.30
-0.49
-3.44
5.14
2.62
6.34
-1.39
4.48
-3.67
5.02
3.74
22.94
Fund
2006
5.37
3.11
4.55
1.61
-6.84
0.75
-0.30
0.80
4.69
2.22
1.48
2.86
21.60
Benchmark
2006
3.03
2.48
3.82
0.52
-6.19
2.24
1.18
1.26
2.65
2.08
1.05
2.16
17.11
Fund
2007
3.89
0.26
4.62
4.01
2.85
-4.02
-2.17
2.75
-0.16
-2.01
3.45
13.83
Benchmark
2007
0.78
0.50
2.45
5.04
2.93
-2.05
-2.80
-0.42
4.57
2.89
-1.67
1.66
14.38
Fund
2008
-10.29
-0.87
-2.44
1.67
-0.71
-12.64
-6.39
7.37
-10.12
-14.15
-0.66
14.73
-32.36
Benchmark
2008
-11.69
3.60
-0.62
5.21
1.76
-10.02
-0.89
3.56
-13.26
-15.78
1.57
13.49
-24.30
Fund
2009
-7.35
-6.80
8.10
12.61
2.32
-0.89
9.73
9.42
7.73
0.35
1.29
4.21
46.05
Benchmark
2009
-10.67
-10.38
5.38
12.00
2.75
-3.15
8.45
8.93
6.44
-2.42
1.17
3.35
20.64
Fund
2010
-3.39
4.22
8.47
-2.54
-6.02
-2.90
3.57
-2.76
10.34
4.42
-1.45
10.47
22.73
Benchmark
2010
-6.13
2.66
7.93
-3.17
-6.55
-4.29
6.50
-3.58
9.44
2.90
-4.10
7.87
7.76
Fund
2011
-1.63
1.79
2.99
3.51
0.59
-6.32
-7.47
-4.96
9.43
-7.01
1.44
-8.68
Benchmark
2011
1.14
1.32
0.97
3.94
-1.89
-0.24
-4.89
-10.36
-5.77
10.92
-7.02
2.18
-10.87
Fund
2012
3.77
5.14
0.37
-3.29
-6.28
3.22
2.05
3.16
2.11
2.07
1.90
2.63
17.55
Benchmark
2012
4.36
5.26
-1.86
-3.44
-6.96
4.35
2.81
3.18
1.64
2.02
2.34
1.47
15.47
Fund
2013
9.16
3.77
1.79
-1.02
3.16
-2.34
8.78
-1.52
0.41
4.50
-0.86
0.89
29.27
Benchmark
2013
8.45
1.08
-0.11
1.72
3.08
-4.81
6.57
-1.96
1.49
5.49
-0.61
0.80
22.49
Fund
2014
-4.06
4.49
1.77
0.05
2.46
-2.42
-2.60
2.30
-2.59
-1.27
6.31
-1.66
2.24
Benchmark
2014
-3.99
5.78
0.14
0.91
1.58
-2.09
-1.94
1.59
-1.67
-1.00
4.08
-3.13
-0.22
Fund
2015
2.61
2.74
2.69
0.29
2.43
-7.11
2.20
-4.65
-0.97
4.56
1.97
0.18
6.47
Benchmark
2015
4.08
2.64
2.09
-0.18
1.76
-6.01
1.94
-5.33
-3.00
5.11
1.12
-0.99
2.57
Fund
2016
-1.27
4.00
3.03
-0.39
-0.26
4.72
6.10
1.78
0.37
3.29
-5.54
5.83
23.16
Benchmark
2016
-4.32
1.18
3.26
1.17
-0.41
2.37
6.24
2.19
-0.01
4.75
-4.08
5.61
18.75
Fund
2017
1.76
1.48
4.18
1.63
4.07
-0.41
0.12
1.26
-1.08
1.51
-1.57
0.90
14.55
Benchmark
2017
1.42
0.84
3.69
0.71
5.23
-1.33
0.85
1.74
-0.69
1.93
-1.06
0.52
14.53
Fund
2018
0.38
-3.32
-3.71
1.53
1.33
-1.21
2.81
0.95
-0.02
-5.82
-1.27
-5.34
-13.25
Benchmark
2018
1.01
-3.51
-2.99
5.11
0.51
-0.35
3.74
-1.45
-0.55
-5.60
-0.61
-4.80
-9.60
Fund
2019
2.81
1.84
1.45
5.42
-4.83
5.62
0.49
-4.90
-0.91
-5.73
0.47
0.81
1.77
Benchmark
2019
3.74
1.79
2.14
4.26
-2.57
5.85
2.61
-2.04
0.95
-1.67
1.96
1.36
19.58
Fund
2020
-4.45
-6.49
-11.78
8.41
7.90
2.69
-1.27
3.94
-0.82
-8.03
18.70
4.72
10.17
Benchmark
2020
-1.67
-7.40
-12.09
6.86
5.77
3.50
-1.34
1.75
-0.47
-6.27
14.71
1.90
2.51
Fund
2021
0.03
2.84
1.62
3.61
1.69
-0.86
-1.16
1.37
-1.48
-0.82
-3.89
1.32
4.10
Benchmark
2021
-1.52
0.28
4.22
3.62
1.91
1.09
1.11
2.90
-2.54
1.89
-1.57
4.38
16.65
Fund
2022
-3.87
-3.81
0.04
-0.74
2.92
-9.11
4.76
-4.09
-8.70
3.20
9.00
2.50
-9.15
Benchmark
2022
-4.31
-3.67
4.17
-2.22
1.07
-7.63
5.52
-1.90
-4.85
3.77
7.62
-0.23
-3.81
Fund
2023
6.68
3.76
-3.76
-0.73
-4.83
0.59
3.45
-2.42
-2.45
-3.04
3.99
6.76
7.29
Benchmark
2023
4.56
2.49
-0.53
2.12
-2.75
0.77
2.08
-2.11
-0.35
-3.08
4.77
4.59
12.83
Fund
2024
-4.49
-4.02
1.70
2.23
-4.69
526.25
Benchmark
2024
-0.11
2.26
3.61
-0.26
5.57
446.33
Source and notes
JOHCM/MSCI Barra/FTSE Group/Bloomberg/Lipper.
Data shown net of fees, net income reinvested.Please note that fund performance is shown against the MSCI Europe NR 12pm adjusted in GBP. Performance of other share classes may vary and is available on request. Data for the period 7 May 2003 to 31 December 2012 is shown against the FTSE Eurofirst 300 TR Index. Where shown, monthly returns table shows compounded discrete monthly performance.
Disclaimer
Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. The Funds investment include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.
This is a marketing communication.
Information on the rights of investors can be found here.
The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investments include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.
Fund statistics
Data as at 30 April 2024
Fund size
GBP 108.58m
Number of holdings
36
Top 10 holdings and active weights
Data as at 30 April 2024
Top 10 holdings
Grifols
6.40%
UNITED INTERNET
5.28%
Oracle
5.22%
ELIOR GROUP
4.36%
Corbion
4.30%
Thyssen Krupp
4.20%
Danone
4.12%
LIBERTY GLOBAL C
4.08%
OC Oerlikon
3.90%
Heineken
3.59%
Top 10 active weights
Grifols
+6.37%
UNITED INTERNET
+5.28%
Oracle
+5.22%
ELIOR GROUP
+4.36%
Corbion
+4.30%
Thyssen Krupp
+4.20%
LIBERTY GLOBAL C
+4.08%
OC Oerlikon
+3.90%
Danone
+3.74%
Heineken
+3.49%
Sector breakdown
Data as at 30 April 2024
Portfolio
Benchmark
Relative
Consumer Staples
17.77%
10.74%
7.04%
Materials
15.13%
7.08%
8.06%
Industrials
12.84%
16.29%
-3.45%
Communication Services
12.09%
2.94%
9.15%
Information Technology
11.46%
7.71%
3.75%
Consumer Discretionary
11.32%
10.72%
0.60%
Energy
10.11%
5.81%
4.30%
Health Care
8.33%
15.76%
-7.43%
Financials
0.00%
18.24%
-18.24%
Real Estate
0.00%
0.85%
-0.85%
Utilities
0.00%
3.86%
-3.86%
Cash
0.93%
0.00%
0.93%
Market cap breakdown
Data as at 30 April 2024
Portfolio
Benchmark
Relative
Large Cap
44.89%
99.47%
-54.57%
Medium Cap
24.47%
0.53%
23.93%
Small Cap
29.77%
0.00%
29.77%
Cash
0.86%
0.00%
0.87%
This is a marketing communication.
Information on the rights of investors can be found here.
The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investments include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.
Distribution of income occur on or before: 31 May, 31 August, 30 November and 28 February
The quarterly table above shows the last two years net dividends (on an accounting rather than a paid basis) for this fund. If you require the dividends for previous time periods, please contact Northern Trust directly on 0333 300 0359 or by email JOH_Onshore_TAQueries@ntrs.com.
Funds paying semi-annual dividends
Distribution of income occur on or before: 31 August and 28 February
JOHCM UK Dynamic Fund (Onshore)
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A - distributing
GBP
31 Aug 2023
pence per share
4.7348
A - accumulating
GBP
31 Aug 2023
pence per share
7.2848
B - distributing
GBP
31 Aug 2023
pence per share
4.2666
B - accumulating
GBP
31 Aug 2023
pence per share
8.0119
Y - distributing
GBP
31 Aug 2023
pence per share
2.9766
Y - accumulating
GBP
31 Aug 2023
pence per share
4.2119
X - distributing
GBP
31 Aug 2023
pence per share
2.4775
X - accummulating
GBP
31 Aug 2023
pence per share
2.8519
M - distributing
GBP
31 Aug 2023
pence per share
0.6975
M - accumulating
GBP
31 Aug 2023
pence per share
0.6975
K - distributing
GBP
31 Aug 2023
pence per share
0.6130
K - accumulating
GBP
31 Aug 2023
pence per share
0.6128
JOHCM UK Dynamic Fund (Offshore)
Share class
Currency
Pay date
Dividend paid in
Dividend rate
Y
GBP
31 Aug 2023
pence per share
2.2517
Y
EUR
31 Aug 2023
pence per share
2.1310
Y
USD
31 Aug 2023
pence per chare
2.3831
JOHCM Global Select Shariah Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
USD
31 Aug 2023
pence per share
0.3187
Funds paying annual dividends
Distribution of income occur on or before 28 February
JOHCM Asia ex Japan Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
GBP
28 Feb 2023
pence per share
0.0000
A
EUR
28 Feb 2023
cents per share
0.0000
A
USD
28 Feb 2023
cents per share
0.0000
B
GBP
28 Feb 2023
pence per share
0.0000
B
EUR
28 Feb 2023
cents per share
0.0000
B
USD
28 Feb 2023
cents per share
0.0000
Z
GBP
28 Feb 2023
cents per share
1.2559
Z
USD
28 Feb 2023
cents per share
0.0088
JOHCM Asia ex Japan Small and Mid Cap Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
GBP
28 Feb 2023
pence per share
0.0000
A
EUR
28 Feb 2023
cents per share
0.0000
A
USD
28 Feb 2023
cents per share
0.0000
B
GBP
28 Feb 2023
pence per share
0.0000
B
EUR
28 Feb 2023
cents per share
0.0000
B
USD
28 Feb 2023
cents per share
0.0000
Z
GBP
28 Feb 2023
cents per share
0.0000
JOHCM Continental European Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
GBP
28 Feb 2023
pence per share
10.0915
A
EUR
28 Feb 2023
cents per share
7.9953
A - hedge
GBP
28 Feb 2023
pence per share
2.9851
B
GBP
28 Feb 2023
pence per share
7.7618
B
EUR
28 Feb 2023
cents per share
6.4068
B - hedge
USD
28 Feb 2023
cents per share
1.1526
Y
GBP
28 Feb 2023
pence per share
3.7378
Y - hedge
GBP
28 Feb 2023
pence per share
3.2781
Y
EUR
28 Feb 2023
cents per share
3.0566
JOHCM European Select Values Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
GBP
28 Feb 2023
pence per share
4.8151
A
EUR
28 Feb 2023
cents per share
2.6779
B
GBP
28 Feb 2023
pence per share
2.0318
B
EUR
28 Feb 2023
cents per share
0.8256
Y
EUR
28 Feb 2023
cents per share
0.8964
JOHCM Global Emerging Markets Opportunities Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
GBP
28 Feb 2023
pence per share
3.9725
A
EUR
28 Feb 2023
cents per share
3.7874
A
USD
28 Feb 2023
cents per share
2.7065
B
GBP
28 Feb 2023
pence per share
3.5330
B
EUR
28 Feb 2023
cents per share
3.4128
B
USD
28 Feb 2023
cents per share
3.0881
Y
GBP
28 Feb 2023
pence per share
4.9039
Y
USD
28 Feb 2023
cents per share
2.8124
Z
GBP
28 Feb 2023
cents per share
7.3245
JOHCM Global Opportunities Fund (onshore)
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
GBP
28 Feb 2023
pence per share
2.5742
A - hedged
GBP
28 Feb 2023
pence per share
2.3240
X
GBP
28 Feb 2023
cents per share
2.4772
JOHCM Global Opportunities Fund (offshore)
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
GBP
28 Feb 2023
pence per share
4.4298
A
EUR
28 Feb 2023
cents per share
4.1956
A
USD
28 Feb 2023
cents per share
3.3076
B
EUR
28 Feb 2023
cents per share
3.8301
B
USD
28 Feb 2023
cents per share
3.1239
A - hedged
EUR
28 Feb 2023
cents per share
1.6538
X
GBP
28 Feb 2023
cents per share
3.7875
Z
GBP
28 Feb 2023
cents per share
1.7774
X - hedged
GBP
28 Feb 2023
cents per share
2.1090
X
EUR
28 Feb 2023
cents per share
1.9147
JOHCM Global Select Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
GBP
28 Feb 2023
pence per share
2.5774
A
EUR
28 Feb 2023
cents per share
2.0747
A
USD
28 Feb 2023
cents per share
1.0629
B
GBP
28 Feb 2023
pence per share
0.0000
B
EUR
28 Feb 2023
cents per share
0.0000
B
USD
28 Feb 2023
cents per share
0.0000
Z
GBP
28 Feb 2023
pence per share
4.2279
JOHCM UK Growth Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
GBP
28 Feb 2023
pence per share
4.6405
B
GBP
28 Feb 2023
pence per share
2.4239
X
GBP
28 Feb 2023
pence per share
2.5898
JOHCM UK Opportunities Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A - distributing
GBP
28 Feb 2023
pence per share
6.1160
A - accumulating
GBP
28 Feb 2023
pence per share
9.5564
B - distributing
GBP
28 Feb 2023
pence per share
5.7397
B - accumulating
GBP
28 Feb 2023
pence per share
8.8440
Y - accumulating
GBP
28 Feb 2023
pence per share
5.3515
Y - distributing
GBP
28 Feb 2023
pence per share
4.1220
Net dividends quoted in the local share class currency.
Information on the rights of investors can be found here.
The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investments include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.
Other European Equity Funds
JOHCM Continental European Fund
Paul Wild manages this long-established fund with a pragmatic investment process that combines top-down economic and sector views with bottom-up stock picking. The Fund’s core style and risk profile has enabled it to outperform in both up and down markets and helped to build a market-leading performance track record since the Fund’s launch in 2
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14 years' industry experience, joined Regnan in June 2020.
Tim Crockford leads the Regnan Equity Impact Solutions team. He previously managed the Hermes Impact Opportunities Equity Fund from its launch in December 2017, having co-founded the Hermes Impact team in 2016. Tim joined Hermes Investment Management in 2009 as a research analyst for the European Equities team and became lead portfolio manager of the ESG-integrated Hermes Europe ex-UK Equity Fund in 2015, which he also managed until he left Hermes.
13 years’ industry experience, joined Regnan in May 2020.
Mohsin is a fund manager dedicated to the strategy. He was previously a senior analyst on the Hermes Impact Opportunities Equity Fund, having joined Hermes in 2017. Prior to Hermes, Mohsin was an investment manager in Global Equities at Pictet Asset Management. At Pictet his experience included working on thematic equity funds including Water, Clean Energy and Agriculture.
10 years’ industry experience, joined Regnan in May 2020.
Maxime is an investment analyst dedicated to the strategy. He has a decade of experience in sustainable investment. Previously, as an investment analyst at Hermes from 2016, he participated in the design, launch and management of the Hermes Impact Opportunities Equity Fund. Prior to this he led the integration of ESG and stewardship across investment strategies.
6 years’ industry experience, joined Regnan in April 2020.
Maxine is an investment analyst dedicated to the strategy. She was previously an analyst on the Hermes Impact Opportunities Equity Fund. Maxime transferred to the Hermes Impact team in 2016, having initially joined the Hermes EOS team in 2014. She headed up the chemicals sector team, while also focusing on the financial services, industrials and technology sectors.
