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Under the Bonnet

A monthly portfolio update from the JOHCM UK Dynamic team on the strategic progress made by their portfolio companies. 

  • Alex Savvides
15 Dec 2021
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View PDF   Download PDF  
  • Given the wider macro challenges, the difficulty in reading policy makers and the re-emergence of coronavirus fears, November was a tough month for stock markets. 
  • For UK Dynamic, whilst the increase in style volatility has translated into a small increase in the percentage risk contribution from factors in the fund, idiosyncratic risk remains by far the dominant feature.
  • This was evidenced once again in the fund’s delivery of a modest relative outperformance, despite what could be viewed as a set of factor headwind conditions. 

Disclaimer

For professional investors only. This is a marketing communication. 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. 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. Information on the rights of investors can be found here.

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