Under the Bonnet

Alex Savvides provides his usual monthly update in a month where sterling hit multi-decade lows and ONS data showed the UK economy contracting in Q2 for the first time in six years. 

  • Alex Savvides
  • Tom Matthews
11 Sep 2019
View PDF   Download PDF  
View PDF   Download PDF  
  • World equity markets fell in August as investors adjusted their global growth expectations to reflect an escalating US-China trade war.
  • The Fund marginally outperformed the index as strong stock selection more than offset negative allocation headwinds from the Fund not owning bond-like, high momentum stocks.
  • QinetiQ was the Fund’s best performing stock over the month, with the shares continuing to rally after a strong Q1.


Source: JOHCM/Bloomberg unless otherwise stated. Issued by J O Hambro Capital Management Limited authorised and regulated by the Financial Conduct Authority. Past performance is no guarantee of future performance. The value of investments and the income from them may go down as well as up and you may not get back your original investment. The information contained herein including any expression of opinion is for information purposes only and is given on the understanding that it is not a recommendation and anyone who acts on it, or changes their opinion thereon, does so entirely at their own risk. The opinions expressed are based on information which we believe to be accurate and reliable, however, these opinions may change without notice. The Fund’s 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. Source: JOHCM/Bloomberg/FTSE International. Note for return history: NAV of share class A in GBP, net income reinvested. Benchmark: FTSE All-Share TR Index. Performance of other share classes may vary and is available on request. FTSE International Limited (“FTSE”) © FTSE 2017. The Industry Classification Benchmark (“ICB”) and all rights in it are owned by and vest in FTSE and/or its licensors. “FTSE” ® is a trademark of the London Stock Exchange Group companies and is used by FTSE International Limited under licence. Neither FTSE or its licensors accept any liability for errors or omissions in the ICV. No further distribution of ICB is permitted without FTSE’s express written consent. JOHCM® is a registered trademark of J O Hambro Capital Management Ltd. J O Hambro® is a registered trademark of Barnham Broom Holdings Ltd. Registered in England and Wales under No: 2176004. Registered address: Level 3, 1 St James’s Market, London SW1Y 4AH, United Kingdom.

For a better experience, we recommend viewing this website in landscape orientation.