JOHCM Asia ex Japan Fund J O Hambro Capital Management (JOHCM)

Fund Description

Based in our Singapore office, Samir Mehta employs a fundamental-based, predominantly bottom-up investment approach. He focuses on Asian companies with quality, sustainable, long-term growth hallmarks. These are businesses that can grow over economic and liquidity cycles and which generate high returns on the financial capital that they employ. Samir builds concentrated portfolios of typically 40-55 stocks, with low portfolio turnover and with little regard to benchmark weightings.

Samir's investment philosophy is based on the following beliefs:

There are pricing inefficiencies in Asian stock markets, particularly at the individual stock level. This is where Samir dedicates most of his time, with approximately 70% of total value added expected to come from fundamental stock selection
Value creation in a company is driven by long-term growth and the ability to generate returns above its cost of capital. Samir therefore focuses on companies displaying long-term sustainable quality growth characteristics
Detailed analysis and regular interaction with company management is vital. His analysis gives him the conviction to take a long-term investment view, meaning that portfolio turnover is typically low.
Asian markets are frequently driven by macroeconomic and political factors that are separate from stock-specific considerations. These markets have a history of giving high returns but also with high volatility. Samir aims to blend his growth stock focus with cyclical exposure that is valuation-driven and based on top-down views.

Reasons To Invest

Proven investment process from an experienced fund manager, based in Asia, with extensive experience of investing in Asian companies
An emphasis on quality growth stocks that compound returns over the long term
A pragmatic approach that blends a long-term growth focus with cyclical exposure

Samir Mehta

Senior Fund Manager
Cho-Yu Kooi

Senior 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. Investing in companies in emerging markets involves higher risk than investing in established economies or securities markets. Emerging Markets may have less stable legal and political systems, which could affect the safe-keeping or value of assets. Investments may 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 Asian Equity Funds

JOHCM Asia ex Japan Small and Mid Cap Fund

Fund manager Cho-Yu Kooi, based in our Singapore office, shares the same investment philosophy and approach as Samir Mehta, manager of the all-cap JOHCM Asia ex Japan Fund, both fund managers having worked alongside one another for many years prior to joining JOHCM in 2011. She employs a fundamental-based, predominantly bottom-up investment ...

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Investment Objective

The investment objective of the Fund is to achieve long-term capital appreciation through investment, both direct and indirect, in a diversified portfolio of Asia ex-Japan equity securities. The Fund aims to achieve its investment objective primarily through investment in equity securities of companies domiciled or exercising the predominant part of their economic activities in Asia ex-Japan. The investment process is focused on identifying and owning quality, long-term, sustainable growth companies; meaning businesses which can sustainably grow over economic and liquidity cycles. The Fund will generally invest in stocks of companies from the consumer, telecoms, infrastructure, internet or brand ownership sectors, which have market capitalisation of greater than US$500 million.

Fund details

Data as at 28 February 2023

Fund size

GBP 24.48m

Strategy size

GBP 552.45m (as at 30 September 2022)

Benchmark

MSCI AC Asia ex Japan NR 12pm adjusted

Domicile

Ireland

Denomination

GBP, EUR, USD

Share classes

A GBP	(Launch date) 30-September-2011
A EUR	(Launch date) 30-September-2011
A USD	(Launch date) 30-September-2011
B GBP	(Launch date) 30-September-2011
B EUR	(Launch date) 30-September-2011
B USD	(Launch date) 30-September-2011

Unit type

Distribution

Minimum investment

A	GBP 1,000
B	GBP 1,000

Valuation point

Daily (12pm, UK time)

Dealing frequency

Daily 9-5pm

Fund codes

	ISIN	SEDOL
A GBP	IE00B3RQ2721	B3RQ272
A EUR	IE00B431KK76	B431KK7
A USD	IE00B435PM67	B435PM6
B GBP	IE00B3ZQS767	B3ZQS76
B EUR	IE00B5L49R51	B5L49R5
B USD	IE00B4114S53	B4114S5

Fund ratings and awards

Data as at 28 February 2023

Notes

©2022 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Morningstar Overall Ratings and Morningstar Analyst Ratings are as at 30/09/2022.

The Elite Rating™ system is proprietary to FundCalibre Ltd, but should not be taken as a recommendation.

Fees and charges

Initial charge	Up to 5%
Annual mgmt charge (A)	0.90%
Annual mgmt charge (B)	1.50%
Performance fee	15% on excess if Fund outperforms benchmark, calculated daily. Any underperformance carried forward. This fee applies to all share classes.

Administration

Status	UCITS
Investment manager	J O Hambro Capital Management Limited
Transfer agent and registrar	RBC Investor Services Limited
Depositary	RBC Investor Services Limited

This is a marketing communication.

Information on the rights of investors can be found here.

Strategy Highlights

As at 28 February 2023

Markets in Asia sold off in February, partly giving back some of the gains after the strong rally over the past couple of months. Unsurprisingly, it was the re-emergence of doubts around soft landing or even no landing scenarios, sparked by some unexpected employment and inflation data from the US which caused angst amongst investors.

Our fund outperformed the benchmark though it is difficult to ascribe any particular reason for the performance. On a stock level, Qianhe Condiment was the fund’s top contributor, whereas Meituan was the worst performer over the period. The strength of the US dollar in February does play out differently across countries. Even though we are technically overweight in India, the fallout from the Adani group fiasco and the sell-off in Indian stocks did not impact our holdings too much. That episode was probably the excuse markets sought to sell Indian stocks.

In our previous commentaries, we have mentioned our thoughts on investing in specific businesses that fit into the lens of restructuring. Faced with a slowing economy and challenging macroeconomic conditions, those managements, in our view, recognise the need to restructure their organisations, and we believe these companies will be better prepared for the challenges that lie ahead. This theme is most relevant in China. Since March/April 2022, through our screenings and analysis, we have identified several Chinese companies that fit our criteria and are in our fund. Since we can glean little certainty about the Federal Reverse’s future actions and potential geopolitical risks, conservativeness is probably the best choice, and we’ve expressed conservativeness by holding businesses prepared for the worst outcomes.

This is a marketing communication.

Information on the rights of investors can be found here.

Fund Reporting

Factsheet

Monthly Portfolio Review

This is a marketing communication.

Information on the rights of investors can be found here.

Percentage growth of the fund versus benchmark

Data as at 28 February 2023

A GBP share class, since launch (30 September 2011)

Return history (%)

Data as at 28 February 2023

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. Investing in companies in emerging markets involves higher risk than investing in established economies or securities markets. Emerging Markets may have less stable legal and political systems, which could affect the safe-keeping or value of assets. 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 18 - Mar 19	Mar 19 - Mar 20	Mar 20 - Mar 21	Mar 21 - Mar 22	Mar 22 - Mar 23
Fund	-18.34%	13.79%	36.02%	2.17%	-12.46%

Monthly returns (%)

Data as at 28 February 2023

		Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Annual	Since inception
Fund	2011										9.90	-3.28	1.22	7.60
Benchmark	2011										9.09	-5.91	1.45	4.13
Fund	2012	5.76	4.39	0.51	-1.76	-4.09	0.80	1.23	2.70	3.48	0.82	2.44	2.78	20.35
Benchmark	2012	8.68	4.98	-3.61	-1.48	-5.17	2.34	2.11	-1.50	4.65	0.23	3.15	2.50	17.29
Fund	2013	5.76	4.25	1.47	2.63	2.23	-6.33	-0.14	-8.96	1.70	6.63	-2.14	-1.53	4.44
Benchmark	2013	4.07	3.74	-1.96	-0.25	0.52	-5.86	2.14	-3.48	1.19	5.11	-1.66	-2.24	0.72
Fund	2014	-3.11	3.21	0.52	-0.74	1.78	1.39	3.53	3.48	-1.55	2.46	4.46	-1.72	14.23
Benchmark	2014	-4.85	2.35	1.17	-0.30	4.59	0.50	4.68	2.51	-3.52	3.10	2.20	-1.33	11.15
Fund	2015	6.95	0.06	3.23	-2.36	0.60	-4.20	-1.57	-5.22	0.27	2.41	-2.03	1.67	-0.80
Benchmark	2015	5.80	-0.35	4.76	2.88	-1.59	-6.52	-5.55	-8.81	-0.32	6.98	-1.28	0.77	-4.50
Fund	2016	-2.69	3.18	1.18	-1.49	0.79	10.58	9.16	4.38	3.58	4.35	-7.96	-2.71	23.00
Benchmark	2016	-4.52	2.47	7.14	-2.43	-1.28	11.21	7.38	3.66	2.99	4.92	-5.08	-0.84	27.13
Fund	2017	5.12	3.15	3.05		2.33	-1.04	4.56	4.95	-6.77	3.89	-0.32	0.95	21.02
Benchmark	2017	4.74	3.74	3.04	-1.69	5.29	0.47	4.10	3.26	-3.95	5.94	-0.81	2.26	29.16
Fund	2018	1.12	-2.68	-7.03	1.09	-1.08	-3.07	1.94	-1.40	-2.54	-10.42	5.35	-0.39	-18.34
Benchmark	2018	2.39	-2.74	-3.32	3.44	1.60	-3.29	0.52	0.13	-1.51	-9.36	5.65	-2.41	-9.36
Fund	2019	3.19	0.60	3.26	2.53	-3.39	5.21	4.14	0.39	-1.11	-0.73	-3.35	2.70	13.79
Benchmark	2019	4.02	1.00	2.87	2.94	-5.38	5.72	2.43	-4.57	0.54	-0.67	0.85	4.19	14.17
Fund	2020	-2.75	-1.34	-6.31	9.13	2.80	6.99	2.87	7.84	1.42	1.28	3.30	7.09	36.02
Benchmark	2020	-3.92	-1.09	-8.65	8.38	-0.47	9.39	1.31	3.66	0.03	2.69	5.33	3.97	21.02
Fund	2021	2.83	-0.14	-0.39	0.97	1.60	4.91	-3.78	4.41	-3.49	-3.17	-1.10	-0.04	2.17
Benchmark	2021	3.87	-0.73	-1.29	1.50	-1.93	3.24	-8.21	3.60	-1.78	-0.85	-0.64	0.15	-3.61
Fund	2022	-5.18	-5.16	-2.04	2.37	-1.76	0.24	-0.97	4.63	-4.69	-11.78	10.19	2.70	-12.46
Benchmark	2022	-3.08	-1.93	-0.39	-1.32	0.21	-0.55	-1.73	4.69	-8.46	-9.89	14.06	0.08	-9.81
Fund	2023	4.32	-3.98											0.16	158.34
Benchmark	2023	5.29	-5.15											-0.14	133.10

Source and notes

JOHCM/MSCI/Bloomberg/Lipper. Please note the percentage growth of the Fund versus benchmark is shown as NAV performance only, dividends are not reinvested.

Data shown net of fees, net income reinvested. Benchmark: MSCI AC Asia ex Japan NR 12pm adjusted. Performance of other share classes may vary and is available on request.

Disclaimer

This is a marketing communication.

Information on the rights of investors can be found here.

Fund statistics

Data as at 28 February 2023

Fund size	GBP 24.48m
Number of holdings	41

Top 10 holdings and active weights

Data as at 28 February 2023

Top 10 holdings

AKR Corporindo	5.90%
HAIDILAO INTL HOLDING	4.95%
Qiane Condiment	4.70%
Tencent Music Ent	4.58%
Budweiser Brewing	4.49%
Netease	4.30%
Wuliangye Yibin	4.17%
Meituan	3.90%
Venture Corp	3.74%
Tencent	3.49%

Top 10 active weights

AKR Corporindo	+5.90%
HAIDILAO INTL HOLDING	+4.90%
Qiane Condiment	+4.70%
Tencent Music Ent	+4.48%
Budweiser Brewing	+4.40%
Wuliangye Yibin	+4.05%
Netease	+3.76%
Venture Corp	+3.67%
Jubilant FoodWorks	+3.03%
Dabur	+2.89%

Sector breakdown

Data as at 28 February 2023

	Portfolio	Benchmark	Relative
Consumer Discretionary	19.78%	14.47%	5.31%
Consumer Staples	19.76%	5.32%	14.44%
Information Technology	14.62%	22.78%	-8.16%
Communication Services	12.36%	10.25%	2.11%
Financials	9.53%	21.08%	-11.55%
Industrials	6.40%	6.67%	-0.27%
Energy	5.90%	3.55%	2.35%
Health Care	5.70%	3.94%	1.76%
Materials	3.53%	5.48%	-1.95%
Real Estate	0.00%	3.90%	-3.90%
Utilities	0.00%	2.55%	-2.55%
Cash	2.41%	0.00%	2.41%

Market cap breakdown

Data as at 28 February 2023

	Portfolio	Benchmark	Relative
Large Cap	66.10%	95.70%	-29.59%
Medium Cap	26.55%	4.30%	22.25%
Small Cap	4.92%	0.00%	4.92%
Cash	2.42%	0.00%	2.42%

This is a marketing communication.

Information on the rights of investors can be found here.

Fund Group	Fund	As at noon	Share class	Currency	Domicile	ISIN number	NAV per share	Change	KIID
Asian Equities	JOHCM Asia ex Japan Fund	27/03/2023	A EUR	EUR	Ireland	IE00B431KK76	2.297	-0.098
Asian Equities	JOHCM Asia ex Japan Fund	27/03/2023	A GBP	GBP	Ireland	IE00B3RQ2721	2.393	-0.103
Asian Equities	JOHCM Asia ex Japan Fund	27/03/2023	A USD	USD	Ireland	IE00B435PM67	1.833	-0.073
Asian Equities	JOHCM Asia ex Japan Fund	27/03/2023	B EUR	EUR	Ireland	IE00B5L49R51	2.298	-0.098
Asian Equities	JOHCM Asia ex Japan Fund	27/03/2023	B GBP	GBP	Ireland	IE00B3ZQS767	2.325	-0.101
Asian Equities	JOHCM Asia ex Japan Fund		B USD		Ireland	IE00B4114S53
Asian Equities	JOHCM Asia ex Japan Fund	27/03/2023	Z - Class GBP	GBP	Ireland	IE00B44PG779	1.704	-0.074
Asian Equities	JOHCM Asia ex Japan Fund	27/03/2023	Z - Class USD	USD	Ireland	IE00BVG76811	1.229	-0.049

Dividend Rates

Funds paying monthly dividends

JOHCM Global Income Builder Fund

Share class	06/22	07/22	08/22	09/22	10/22	11/22	12/22	01/23	02/23	03/23
A GBP	0.3848	0.3507	0.3439	0.3982	0.3509	0.3193	0.3826	0.3437	0.3714	0.3249
A EUR	0.3990	0.3571	0.3622	0.4055	0.3547	0.3277	0.3935	0.3438	0.3710	0.3239
A USD	0.3611	0.3151	0.3128	0.3431	0.2930	0.2750	0.3469	N/A	N/A	N/A
A SGD	0.3661	0.3248	0.3189	0.3548	0.3107	0.2865	0.3482	0.3040	0.3310	0.2889
B EUR	0.3820	0.3416	0.3462	0.3872	0.3385	0.3124	0.3748	0.3272	0.3527	0.3077
Seed GBP	0.3562	0.3189	0.3619	0.4193	0.3695	0.3364	0.4031	0.3623	0.3916	0.3427

Net dividends quoted in the local share class currency.

If you require the dividends for previous time periods, please contact RBC directly on 00353 14406555 or by fax on 00353 16131132 (0845 450 1974 and 02077475690 have been disabled).

Funds paying quarterly dividends

JOHCM UK Equity Income Fund

Share class	Q3 20	Q4 20	Q1 21	Q2 21	Q3 21	Q4 21	Q1 22	Q2 22	Q3 22	Q4 22
A distributing GBP	1.2632	1.0771	1.1681	2.3283	3.0863	1.2881	1.9828	3.4453	3.1410	1.8309
A accumulating GBP	2.6218	2.2581	2.4649	4.9447	6.6368	2.8152	4.3509	7.6541	7.1149	4.2268
B distributing GBP	1.1739	0.9997	1.0825	2.1559	2.8539	1.1897	1.8271	3.1746	2.8895	1.6822
B accumulating GBP	2.4391	2.0980	2.2869	4.5836	6.1431	2.6020	4.0228	7.0604	6.5526	3.8884
Y distributing GBP	0.8514	0.7263	0.7879	1.5709	2.0833	0.8697	1.3383	2.3274	2.1211	1.2376
Y accumulating GBP	1.0570	0.5363	0.9944	1.9953	2.6787	1.1364	1.7602	3.0924	2.8757	1.7088

Dividends are quoted and paid in pence per share

XD dates: 31 March, 30 June, 30 September and 31 December
Payment dates: 31 May, 31 August, 30 November and 28 February

The quarterly table above shows the last two years net dividends (on a XD rather than a paid basis) for this fund. If you require the dividends for previous time periods, please contact RBC directly on 00353 14406555 or by fax on 00353 16131132 (0845 450 1974 and 02077475690 have been disabled).

Funds paying semi-annual dividends

All funds have a XD date of 1 July 2022 and pay date of 31 August 2022.

JOHCM UK Dynamic Fund

Share class	Currency	Pay date	Dividend paid in	Dividend rate
Y	GBP	31 Aug 2022	pence per share	2.1779

Funds paying annual dividends

All funds have a XD date of 31 December 2021 and pay date of 28 February 2022.

JOHCM Asia ex Japan Fund

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A	GBP	28 Feb 2022	pence per share	0.0000
A	EUR	28 Feb 2022	cents per share	0.0000
A	USD	28 Feb 2022	cents per share	0.0000
B	GBP	28 Feb 2022	pence per share	0.0000
B	EUR	28 Feb 2022	cents per share	0.0000
B	USD	28 Feb 2022	cents per share	0.0000
Z	GBP	28 Feb 2022	cents per share	1.2717
Z	USD	28 Feb 2022	cents per share	1.0094

JOHCM Asia ex Japan Small and Mid Cap Fund

Share class	Currency	Pay date	Dividend paid in
A	GBP	28 Feb 2022	pence per share
A	EUR	28 Feb 2022	cents per share
A	USD	28 Feb 2022	cents per share
B	GBP	28 Feb 2022	pence per share
B	EUR	28 Feb 2022	cents per share
B	USD	28 Feb 2022	cents per share
Z	GBP	28 Feb 2022	cents per share

JOHCM Concentrated Global Share Fund

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A	GBP	28 Feb 2022	pence per share	0.0000

JOHCM Continental European Fund

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A	GBP	28 Feb 2022	pence per share	8.6863
A	EUR	28 Feb 2022	cents per share	7.2518
A - hedge	GBP	28 Feb 2022	pence per share	2.3783
B	GBP	28 Feb 2022	pence per share	5.7899
B	EUR	28 Feb 2022	cents per share	5.0477
B - hedge	USD	28 Feb 2022	cents per share	1.8425
Y	GBP	28 Feb 2022	pence per share	3.4475
Y - hedge	GBP	28 Feb 2022	pence per share	2.6955
Y	EUR	28 Feb 2022	cents per share	3.0103

JOHCM European Select Values Fund

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A	GBP	28 Feb 2022	pence per share	3.4279
A	EUR	28 Feb 2022	cents per share	2.2816
B	GBP	28 Feb 2022	pence per share	0.4023
B	EUR	28 Feb 2021	cents per share	0.1956
Y	EUR	28 Feb 2022	cents per share	0.6184

JOHCM European Concentrated Value Fund

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A	EUR	28 Feb 2022	cents per share	0.8126
B	EUR	28 Feb 2022	cents per share	0.3158
Z	EUR	28 Feb 2022	cents per share	1.5455

JOHCM Global Emerging Markets Opportunities Fund

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A	GBP	28 Feb 2022	pence per share	2.8311
A	EUR	28 Feb 2022	cents per share	3.1858
A	USD	28 Feb 2022	cents per share	2.4633
B	GBP	28 Feb 2022	pence per share	1.8347
B	EUR	28 Feb 2022	cents per share	2.1208
B	USD	28 Feb 2022	cents per share	2.1654
Y	GBP	28 Feb 2022	pence per share	3.6898
Y	USD	28 Feb 2022	cents per share	3.1258
Z	GBP	28 Feb 2022	cents per share	5.3164

JOHCM Global Opportunities Fund (onshore)

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A	GBP	28 Feb 2022	pence per share	2.5871
A	EUR	28 Feb 2022	cents per share	5.0441
A	USD	28 Feb 2022	cents per share	4.8886
B	EUR	28 Feb 2022	cents per share	4.6750
B	USD	28 Feb 2022	cents per share	4.6865
A - hedged	GBP	28 Feb 2022	pence per share	2.6653
A - hedged	EUR	28 Feb 2022	cents per share	2.2077
X	GBP	28 Feb 2022	cents per share	2.4784
X	EUR	28 Feb 2022	cents per share	2.2293

JOHCM Global Opportunities Fund (offshore)

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A	GBP	28 Feb 2022	pence per share	4.5789
A	EUR	28 Feb 2022	cents per share	5.1902
A	USD	28 Feb 2022	cents per share	4.6148
B	GBP	28 Feb 2022	pence per share	5.0376
B	EUR	28 Feb 2022	cents per share	4.7737
B	USD	28 Feb 2022	cents per share	4.3909
A - hedged	EUR	28 Feb 2022	cents per share	2.3372
X	GBP	28 Feb 2022	cents per share	3.9139
Z	GBP	28 Feb 2022	cents per share	1.8229
X - hedged	GBP	28 Feb 2022	cents per share	2.4327
X	EUR	28 Feb 2022	cents per share	2.3658

JOHCM Global Select Fund

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A	GBP	28 Feb 2022	pence per share	0.0000
A	EUR	28 Feb 2022	cents per share	0.0000
A	USD	28 Feb 2022	cents per share	0.0000
B	GBP	28 Feb 2022	pence per share	0.0000
B	EUR	28 Feb 2022	cents per share	0.0000
B	USD	28 Feb 2022	cents per share	0.0000
Z	GBP	28 Feb 2022	pence per share	2.9482
Z	USD	28 Feb 2022	cents per share	2.5658

JOHCM UK Dynamic Fund

Please note that with effect from 1 January 2022, this fund will make semi-annual distributions.

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A - distributing	GBP	30 June 2022	pence per share	4.2307
A - accumulating	GBP	30 June 2022	pence per share	6.2512
B - distributing	GBP	30 June 2022	pence per share	3.8318
B - accumulating	GBP	30 June 2022	pence per share	6.9098
Y - distributing	GBP	30 June 2022	pence per share	2.6563
Y - accumulating	GBP	30 June 2022	pence per share	3.6096

JOHCM UK Growth Fund

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A	GBP	28 Feb 2022	pence per share	5.8783
B	GBP	28 Feb 2022	pence per share	3.1115
X	GBP	28 Feb 2022	pence per share	3.1342

JOHCM UK Opportunities Fund

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A - distributing	GBP	28 Feb 2022	pence per share	5.5257
A - accumulating	GBP	28 Feb 2022	pence per share	8.4140
B - distributing	GBP	28 Feb 2022	pence per share	5.2121
B - accumulating	GBP	28 Feb 2022	pence per share	7.8256
Y - accumulating	GBP	28 Feb 2022	pence per share	3.7193
Y - distributing	GBP	28 Feb 2022	pence per share	4.7060

Net dividends quoted in the local share class currency.

If you would like more information, please contact RBC directly on 00353 14406555 or by fax on 00353 16131132 (0845 450 1974 and 02077475690 have been disabled). Email us at oeicdealing@johcm.co.uk.

Views & News

17 Mar 2023
Beware Unintended Consequences

Following the collapse of SVB and the risk of a banking crisis, the Fed may need to choose between price stability and financial stability
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10 Mar 2023
Patience is a virtue

Sub-24 hour S&P 500 options are a sign of the equity market’s constant drive to short-termism. Is patient, long-term investment still justified?
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16 Feb 2023
Buy High, Sell Low

When Adani came into the India index, passive funds had to buy the stock, driving up the price. As the price has fallen, reducing the weighting in the index, they have had to sell.
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12 Jan 2023
Transformation, the old way

Indonesia is growing its economy, raising its skill levels and increasing value-added exports, using the old-fashioned method: protectionism
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15 Dec 2022
The View From Asia - China: Peeling Back the Onion

In China, we’re investing in companies that have low valuations and rising cashflows. They aren’t the usual suspects
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02 Nov 2022
The View From Asia

Until recently, the consensus was that China would decouple economically from the developed world. Now we know the separation is not economic but ideological
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19 Sep 2022
The View from Asia

Higher US interest rates could present significant upside for Asian equities
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05 Sep 2022
Did China learn anything from Japan's lost decades?

The economic models of China and Japan are closely related. However, China has the opportunity to learn from its neighbour's mistakes and protect property and banking investors.
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12 Aug 2022
The View From Asia

Conditions in Asia are considerably different to those in the US
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04 Jul 2022
The View From Asia

Recession remains a threat, and despite official figures, China is almost certainly in a phase of contraction
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18 Jun 2022
View from Asia

In a new era, investors need discipline
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23 May 2022
View from Asia

Markets now collectively believe that central banks are behind the curve. Risk-aversion prevails
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19 Apr 2022
View from Asia

War in Europe. Lockdowns in China. Higher commodity prices pushing up inflation. Focus on value and patience should pay.
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07 Mar 2022
A View from Asia

Samir Mehta shares his views on the outlook for Asia
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09 Feb 2022
A View from Asia

Samir Mehta shares his views on the outlook for Asia
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28 Jan 2022
A View from Asia

A look ahead: a short note from Samir Mehta, manager of the JOHCM Asia ex Japan fund.
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23 Dec 2021
The land of smiles no more

With Covid-19 cases rising Samir’s latest Armchair Observer focuses on the impact of the pandemic on Thailand.
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10 Dec 2021
A View from Asia

Portfolio management during uncertain times: JOHCM Asia ex Japan fund manager, Samir Mehta, outlines his strategy
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30 Nov 2021
The Armchair Observer

I too could not resist it. Every single friend of mine urged me to watch Squid Game and finally I gave in...
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18 Nov 2021
A View from Asia

Samir Mehta, manager of the JOHCM Asia ex Japan fund, provides an in-depth look at Jubilant Foodworks, the largest holding in his portfolio.
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12 Oct 2021
A View from Asia

Taking stock: Samir Mehta, manager of the JOHCM Asia ex Japan Fund, takes a look back at markets over the last 18 months.
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29 Sep 2021
The Armchair Observer

To mark the 10-year anniversary of the JOHCM Asia ex Japan fund, Senior Fund Manager, Samir Mehta, launches The Armchair Observer.
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14 Sep 2021
A View from Asia

What next for China? Samir discusses the regulatory clampdown including two other sectors not yet hit - housing and healthcare.
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11 Aug 2021
A View from Asia

Should we even bother investing in China?
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07 Jul 2021
A View from Asia - China Special

Samir Mehta takes a look at the three cross-currents affecting Chinese technology stocks.
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Webcasts & Videos

JOHCM Asia ex Japan Fund,JOHCM Asia ex Japan Small/Mid Cap Fund Q4 2021 Update

03 Feb 2022 | 35 mins
JOHCM Asia ex Japan Fund,JOHCM Asia ex Japan Small/Mid Cap Fund Q4 2021 Update

03 Feb 2022 | 35 mins
JOHCM Asia ex Japan Fund,JOHCM Asia ex Japan Small/Mid Cap Fund Q3 2021 Update

27 Oct 2021 | 47 mins
JOHCM Asia ex Japan Fund,JOHCM Asia ex Japan Small/Mid Cap Fund Q3 2021 Update

27 Oct 2021 | 47 mins

Samir Mehta

Senior Fund Manager
Cho-Yu Kooi

Senior Fund Manager

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JOHCM Asia ex Japan Small and Mid Cap Fund

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Summary

This webpage is designed to provide the reader with information about the J O Hambro Capital Management Asia ex-Japan Fund (“Fund”) in relation to the EU Sustainable Finance Disclosure Regulation or “SFDR” as referred to throughout this disclosure. JOHCM Funds (Ireland) Limited, the Fund’s Manager, has categorised the Fund as meeting the provisions set out in Article 8 of the SFDR.

The information is required by law and does not form part of the Fund’s marketing materials. Its purpose is to help the reader understand the sustainability objective of this Fund. The reader is advised to read it in conjunction with the Fund’s prospectus that can be found here.

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SFDR Disclosure