JOHCM Asia ex Japan Small and Mid Cap Fund

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Fund Description

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 approach. She 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.The Fund generally consists of stocks with a market capitalisation of less than US$4 billion while close attention is paid to liquidity.

Investment Strategy

The team’s investment philosophy is based on the following beliefs:

  • There are pricing inefficiencies in Asian stock markets, the greatest of which are at the individual stock level. This is, therefore, where Cho Yu focuses her investment resources, 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. They, therefore, focus on companies displaying long-term sustainable quality growth characteristics
  • Detailed analysis and regular interaction with company management is vital. The team’s analysis gives them the conviction to take a long-term investment view, meaning that turnover is 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. The team aims to blend their growth stock focus with cyclical exposure that is valuation-driven and based on top-down views.
Reasons To Invest
  • The team has long experience of investing in smaller Asian companies. Both fund managers have approximately 20 years investment experience working in Asia and have spent nearly half of their investment careers working together
  • Most of the team’s past performance has come from stock selection across a wide range of market capitalisations. They are benchmark agnostic and many of their positions are in off the beaten track names that are not widely owned by our competitors. Within a programme of Asian / Emerging Markets managers, the team’s Asian small cap portfolio should therefore contribute diversification benefits to clients
  • The team has decided to limit capacity in the small and mid-cap strategy to US$1bn, and to focus on broad regional mandates (with or without Australia). Capping the level of assets enables them to access attractive investment opportunities and to preserve the consistency of their style for their clients. Avoiding asset gathering behaviour ensures that they can grow with our clients and not at their expense
  • The team has a proven ability to generate outperformance in both rising and falling markets. With the region’s history of positive but volatile returns, this is essential to delivering consistent outperformance to investors
  • Turnover in the strategy is low and the team conducts thorough due diligence before making a buy decision.  This means that they avoid costly and unnecessary trading which will help enhance returns to clients
  • Cho-Yu Kooi

    Senior Fund Manager

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The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.

Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

Other Asian Equity Funds

JOHCM Asia ex Japan Fund

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.

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Investment Objective

The investment objective of the Fund is to achieve long-term capital appreciation through investment in a diversified portfolio of Asia ex-Japan Small and Mid Cap equity securities. The Fund aims to achieve its investment objective primarily through investment in equity securities of companies with a small or middle market capitalisation all of which will be domiciled or exercising the predominant part of their economic activities in the Asia ex-Japan region. The Fund will generally invest in stocks of companies with a market capitalisation of less than US$4 billion, with trading liquidity a key consideration.

Fund details

Data as at 30 September 2020
Fund size GBP 15.97m
Strategy size GBP 21.25m (as at 30 June 2020)
Benchmark MSCI AC Asia ex Japan Small Cap 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 IE00B6R5LS41 B6R5LS4
A EUR IE00B6R5VD95 B6R5VD9
A USD IE00B6R5QW32 B6R5QW3
B GBP IE00B6R63P81 B6R63P8
B EUR IE00B6R5HM01 B6R5HM0
B USD IE00B6R5YM91 B6R5YM9

Fund ratings and awards

Data as at 30 September 2020
  • 4 Stars
  • 5 star
Notes

©2020 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 30/06/2020.

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

The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.

Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

Investment Background

As at 30 September 2020

Asian equities pulled back from recent highs in September, tracking the losses in US equities. This came amid stalled negotiations to inject another round of stimulus so desperately needed by an economy which is still grappling with the fallout from the coronavirus pandemic. A resurgence of infection cases across Europe also spooked investors about the strength of its nascent economic recovery. Furthermore, tensions in US-China relations continued to escalate with the US government announcing the imposition of technology export controls on China’s leading semiconductor foundry following China’s attempt to include broad policy support for third-generation semiconductors in its 14th five-year plan.

 

Strategy Highlights

The Fund underperformed in September, pulled lower by several of our technology stocks in Taiwan and China/Hong Kong due to the latest assault by the US government to check the rise of China’s semiconductor industry. The negative sentiment then spread to the other sectors in China/Hong Kong that have been relative safe havens with more broad-based profit-taking setting in. Indonesia remains a drag for us as the growth outlook is hamstrung by the Covid-19 pandemic which has yet to be brought under control. During the month, we added to our weighting in India where we see selective opportunities. Marico is one such addition which we found attractive.  

Marico is one of India’s leading consumer products companies operating in the beauty and wellness space. It has 25 brands spread across product categories such as hair care, skin care, edible oils, healthy foods, male grooming, fabric care and hygiene. The domestic India business accounts for about 77% of revenues with the balance contributed by its international business in other emerging Asian markets and Africa. 

Like all companies in India, Marico’s business was hurt by the abrupt lockdown imposed by the government due to the coronavirus pandemic earlier this year in March and April, and even beyond this period, there were intermittent local state-level disruptions to businesses. However, as a good portion of their product portfolio is considered more “staple” in nature, they have weathered the downturn much better than most. Moreover, the pandemic has raised consumers’ awareness about hygiene and product quality assurance, favouring organised players like Marico which has a stable of well-known brands. Indeed, the latest quarterly earnings result saw the company gain market share across 90% of its product portfolio. As Sir Winston Churchill famously said after World War II, “Never let a good crisis go to waste”, management have embraced this wisdom and is driving a focused cost-saving programme; innovating and rationalising its product portfolio; and rejigging its distribution channels to improve its consumer reach. Hence, we believe Marico will emerge from this challenging environment much stronger. A high return on capital employed, robust balance sheet, healthy free cash flow generation, and a generous dividend pay-out are other key attributes that we like. 

The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.

Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

KIIDs
(Key Investor Information Documents)

A GBP A EUR A USD
B GBP B EUR B USD

 

The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.

Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

Percentage growth of the fund versus benchmark

Data as at 30 September 2020
A GBP share class, since launch (30 September 2011)

Return history (%)

Data as at 30 September 2020

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.


Sep 15 - Sep 16 Sep 16 - Sep 17 Sep 17 - Sep 18 Sep 18 - Sep 19 Sep 19 - Sep 20
Fund 26.26% 2.12% -11.67% 11.01% 13.07%

Monthly returns (%)

Data as at 30 September 2020
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Since inception
Fund 2011 9.50 -6.21 1.27 4.00
Benchmark 2011 7.20 -6.37 -0.31 0.06
Fund 2012 5.74 2.94 0.54 0.18 -2.66 -1.46 -0.37 2.51 5.71 2.40 4.44 1.76 23.55
Benchmark 2012 7.96 7.99 -4.27 -3.21 -3.27 1.17 -0.43 1.20 4.32 -0.60 3.25 2.84 17.30
Fund 2013 6.69 5.61 2.87 1.70 5.34 -8.94 0.07 -8.77 0.61 5.69 -4.16 -1.20 3.94
Benchmark 2013 5.97 5.56 0.73 0.53 3.07 -8.88 1.17 -4.41 1.92 3.46 -2.76 -0.97 4.47
Fund 2014 -3.34 2.53 3.62 -1.56 4.45 0.43 2.37 5.13 0.94 2.32 3.43 -0.50 21.30
Benchmark 2014 -1.65 2.67 1.37 -0.78 3.56 0.02 2.30 3.52 -1.22 -0.78 0.44 -1.10 8.45
Fund 2015 7.61 0.06 5.55 -0.61 5.57 -4.54 -1.10 -6.20 2.74 3.48 1.46 1.49 15.60
Benchmark 2015 5.49 -0.41 5.80 5.36 2.35 -7.94 -7.76 -9.11 2.11 5.26 0.27 1.72 1.40
Fund 2016 -4.08 1.59 0.67 -1.05 -2.19 9.34 8.12 4.27 1.26 4.73 -8.99 -1.40 11.37
Benchmark 2016 -5.44 2.41 4.74 -0.77 -2.38 9.98 5.74 2.66 2.69 3.75 -5.57 -0.18 17.80
Fund 2017 3.33 3.34 1.48 -2.32 0.19 -1.35 4.20 2.62 -2.87 1.13 -1.53 0.18 8.41
Benchmark 2017 2.81 5.64 2.52 -2.72 2.13 -0.41 1.41 3.30 -3.26 6.05 0.77 2.01 21.70
Fund 2018 -1.92 -2.38 -1.91 -0.19 8.87 -1.70 -2.60 -7.39 -2.17 -11.05 9.75 -2.91 -16.09
Benchmark 2018 0.66 -2.51 -2.88 2.87 2.77 -5.39 0.05 0.27 -4.14 -10.28 6.24 -1.76 -14.15
Fund 2019 2.09 2.93 3.12 3.99 -0.79 6.85 5.29 -4.01 -2.99 -0.24 -2.66 -1.46 12.07
Benchmark 2019 0.99 1.05 3.45 0.53 -2.65 2.46 1.25 -4.57 0.99 -1.50 -0.17 1.99 3.60
Fund 2020 -1.65 0.46 -10.79 11.58 9.71 8.76 -0.39 2.06 -0.97 18.16 151.22
Benchmark 2020 -4.03 -2.45 -15.61 13.12 3.19 9.11 1.22 4.31 2.10 8.46 86.49

Source and notes

JOHCM/MSCI/Bloomberg/Lipper.

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

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. 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.

The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.

Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

Fund statistics

Data as at 30 September 2020
Fund size GBP 15.97m
Number of holdings 48

Top 10 holdings and active weights

Data as at 30 September 2020
Top 10 holdings
CHINA EDU GRP HLDGS 4.65%
Silergy Corp 3.78%
Duzonbizon Co 3.73%
Kingdee International Software 3.67%
Li-Ning 3.64%
POYA 3.57%
YIHAI INTL HLDG 3.41%
PING AN HEALTHCARE & TEC 3.32%
AUSNUTRIA DAIRY (HK) 3.25%
ASMedia Technology 3.22%
Top 10 active weights
CHINA EDU GRP HLDGS +4.65%
Silergy Corp +3.78%
Duzonbizon Co +3.73%
Kingdee International Software +3.67%
Li-Ning +3.64%
YIHAI INTL HLDG +3.41%
POYA +3.40%
PING AN HEALTHCARE & TEC +3.32%
ASMedia Technology +3.22%
AUSNUTRIA DAIRY (HK) +3.11%

Sector breakdown

Data as at 30 September 2020
Portfolio Benchmark Relative
Information Technology 42.22% 20.60% 21.61%
Consumer Staples 25.46% 4.90% 20.56%
Consumer Discretionary 21.08% 14.17% 6.91%
Industrials 6.62% 13.87% -7.25%
Health Care 4.36% 10.84% -6.48%
Communication Services 0.00% 4.44% -4.44%
Energy 0.00% 1.42% -1.42%
Financials 0.00% 6.94% -6.94%
Materials 0.00% 9.37% -9.37%
Real Estate 0.00% 11.21% -11.21%
Utilities 0.00% 2.24% -2.24%
Cash 0.27% 0.00% 0.27%

Market cap breakdown

Data as at 30 September 2020
Portfolio Benchmark Relative
Large Cap 46.66% 33.02% 13.64%
Medium Cap 46.85% 48.88% -2.03%
Small Cap 6.22% 18.10% -11.88%
Cash 0.27% 0.00% 0.27%

The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.

Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

Fund

As at noon Share class Currency Domicile Sedol number NAV per share Change
JOHCM Asia ex Japan Fund 20/10/2020 A GBP Ireland B3RQ272 2.514 0.031
A USD Ireland B435PM6 2.035 0.018
A EUR Ireland B431KK7 2.323 0.014
B GBP Ireland B3ZQS76 2.479 0.030
B USD Ireland BF7NZT0 2.071 0.019
B EUR Ireland B5L49R5 2.360 0.015
Z GBP Ireland B44PG77 1.788 0.022
Z USD Ireland BVG7681 1.361 0.012
JOHCM Asia ex Japan Small and Mid Cap Fund 20/10/2020 A GBP Ireland B6R5LS4 2.433 0.050
A USD Ireland B6R5QW3 2.092 0.036
A EUR Ireland B6R5VD9 2.022 0.029
B USD Ireland B6R5YM9 2.006 0.033
B EUR Ireland B6R5HM0 2.299 0.033
B GBP Ireland B6R63P8 2.387 0.048
Z GBP Ireland B4X3T62 1.839 0.038
JOHCM Continental European Fund 20/10/2020 A GBP Ireland 3300912 4.629 0.025
A USD Ireland BJ4G0G2 1.364 0.000
A EUR Ireland 3300923 3.541 -0.002
A Hedged GBP Ireland BSJCJ49 1.194 -0.001
B GBP Ireland 3100543 4.458 0.024
B USD Ireland BJ4G0H3 1.391 -0.001
B EUR Ireland 3300901 3.560 -0.003
Y GBP Ireland B993PD0 1.705 0.009
Y EUR Ireland B98YKX9 1.365 -0.001
Y Hedged GBP Ireland BSJCJ50 1.250 0.000
JOHCM European Concentrated Value Fund 20/10/2020 A EUR Ireland BW0DJY9 0.940 -0.001
B USD Ireland BW0DK13 1.085 0.001
B EUR Ireland BW0DJZ0 0.933 -0.001
Z AUD Ireland BYNJFM8 1.141 0.010
Z EUR Ireland BYNJFN9 0.867 -0.001
JOHCM European Select Values Fund 20/10/2020 A GBP Ireland 3290422 5.073 0.039
A EUR Ireland 3290433 3.093 0.004
B GBP Ireland 3290400 4.640 0.036
B EUR Ireland 3290411 2.068 0.003
Non-Distributing EUR Ireland BSFWK51 1.141 0.001
X EUR Ireland B4K14L9 1.479 0.003
JOHCM Global Emerging Markets Opportunities Fund 20/10/2020 A GBP Ireland B4002N4 1.361 0.009
A USD Ireland B4M6CN0 1.137 0.004
A EUR Ireland B3ZBLW7 1.404 0.001
B GBP Ireland B41RZ57 1.307 0.009
B USD Ireland B4XXMP2 1.483 0.005
B EUR Ireland B4TRCR0 1.385 0.002
Y USD Ireland BYSGJZ5 1.383 0.004
Y GBP Ireland BYSGJY4 1.642 0.011
Z GBP Ireland B6R54W9 1.719 0.012
Z CAD Ireland BBPK0L2 1.577 0.008
Z AUD Ireland B5W6ZB6 1.854 0.019
JOHCM Global Income Builder Fund 20/10/2020 GBP Ireland BFZWPH7 1.063 -0.001
A GBP Ireland BFZWPC2 1.017 -0.002
A USD Ireland BFZWPF5 0.982 -0.005
A EUR Ireland BFZWPD3 0.985 -0.007
A SGD Ireland BFZWPG6 0.984 -0.006
B EUR Ireland BFZWPJ9 0.959 -0.007
EUR EUR Ireland BKF2GH9 0.874 -0.006
GBI GBP Ireland BHR0DJ1 1.016 -0.001
HEU EUR Ireland BJGW7C3 0.941 -0.004
JOHCM Global Opportunities Fund (offshore) 20/10/2020 A GBP Ireland B89PQM5 2.036 0.001
A USD Ireland B89JY23 1.969 -0.007
A EUR Ireland B7MR557 2.115 -0.012
B GBP Ireland BF7NZS9 2.251 0.001
B USD Ireland B8295C7 1.882 -0.007
B EUR Ireland B80FZF0 1.955 -0.011
IHX EUR Ireland BFZWWX2 0.955 -0.003
X GBP Ireland BQVC9L0 1.737 0.000
X EUR Ireland BMCZLF8 1.010 -0.006
X EUR Ireland BJ5JW42 0.965 -0.005
X GBP Ireland BK8M212 0.970 0.001
X Hedged GBP Ireland BF29TX5 1.014 -0.004
Z GBP Ireland B83MS15 0.806 0.000
Z GBP Ireland BD6R4D6 1.499 0.000
Z EUR Ireland BDZD4M4 0.946 -0.005
JOHCM Global Opportunities Fund (onshore) 20/10/2020 A Accumulating GBP UK BJ5JMC0 1.021 0.000
A Distributing GBP UK BJ5JMD1 1.006 0.000
AHA GBP UK BKDV8G1 0.993 -0.004
X Accumulating GBP UK BJ5JMF3 0.992 0.000
X Distributing GBP UK BJ5JMG4 1.002 0.000
JOHCM Global Select Fund 20/10/2020 A GBP Ireland B3DBRN2 4.006 -0.028
A USD Ireland B3T31Z2 2.139 -0.021
A EUR Ireland B3DBRP4 3.535 -0.047
B GBP Ireland B3DBRL0 3.874 -0.027
B USD Ireland B5L7L67 2.449 -0.026
B EUR Ireland B3DBRM1 3.433 -0.044
Z GBP Ireland B3DCMB8 2.888 -0.018
Z USD Ireland B4V7J00 2.412 -0.024
JOHCM Japan Fund 20/10/2020 A GBP Ireland B00X0H5 2.205 -0.015
A EUR Ireland 3438880 1.530 -0.020
A Hedged GBP Ireland B5LD7P6 1.447 -0.014
A JPY JPY Ireland 3438891 290.788 -2.596
B GBP Ireland 3438846 2.148 -0.015
B EUR Ireland 3438857 1.480 -0.019
B Hedged GBP Ireland B6386R1 1.470 -0.014
B JPY JPY Ireland 3438868 286.822 -2.723
JOHCM UK Dynamic Fund 20/10/2020 A Accumulating GBP UK B4T7HR5 1.924 0.011
A Distributing GBP UK B4T8552 1.382 0.007
B Accumulating GBP UK B4T7JX5 2.143 0.012
B Distributing GBP UK B4TXJ33 1.261 0.007
X Accumulating GBP UK BJ7HNB8 0.749 0.004
X Distributing GBP UK BJ5JMB9 0.720 0.004
Y GBP UK BDZRJ21 0.867 0.005
Y GBP Ireland BDGKPZ4 0.721 0.004
Y Accumulating GBP UK BDZRJ10 1.109 0.006
JOHCM UK Equity Income Fund 20/10/2020 A Accumulating GBP UK B03KR50 2.720 0.010
A Distributing GBP UK B03KP23 1.298 0.005
B Accumulating GBP UK B03KR83 2.528 0.009
B Distributing GBP UK B03KR61 1.205 0.005
X Distributing GBP UK BYV9S21 0.646 0.002
Y GBP UK B95FCK6 0.875 0.003
Y Accumulating GBP UK B8FCHK5 1.097 0.004
JOHCM UK Growth Fund 20/10/2020 A GBP Ireland 3300934 2.879 0.007
B GBP Ireland 3100554 2.492 0.005
REU EUR Ireland BLLV8D7 1.455 -0.006
RUD USD Ireland BLLV8C6 1.599 -0.002
X USD Ireland BLLV871 1.601 -0.003
X EUR Ireland BLLV8B5 1.443 0.003
X EUR Ireland BLLV882 1.457 -0.006
X GBP Ireland BLLV893 1.427 0.003
JOHCM UK Opportunities Fund 20/10/2020 A Accumulating GBP UK B0LLB64 2.874 0.012
A Distributing GBP UK B3K76Q9 1.932 0.009
B Accumulating GBP UK B0LLB75 2.692 0.012
B Distributing GBP UK B3K76P8 1.835 0.008
X Accumulating GBP UK BQJZQQ5 1.326 0.007
X Distributing GBP UK B95MSF4 1.091 0.005
Y GBP UK B95J5C1 1.299 0.006
Y Accumulating GBP UK B95HP81 1.603 0.007

Dividend Rates

Funds paying monthly dividends

JOHCM Global Income Builder Fund

Share class 11/19 12/19 01/20 02/20 03/20 04/20 05/20 06/20 07/20 08/20
A  GBP 0.4537 0.4276 0.4668 0.4491 0.4176 0.4276 0.4164 0.4095 0.4554 0.4276
A EUR 0.4650 0.4426 0.4862 0.4680 0.4171 0.4180 0.4202 0.4065 0.4551 0.4180
A USD   0.4384 0.4117 0.4592 0.4372 0.3853 0.4154 0.3897 0.3833 0.4212 0.4154
A SGD  0.4398 0.4164 0.4573 0.4418 0.4079 0.4224 0.4070 0.3970 0.4323 0.4224
B EUR 0.4579 0.4355 0.4775 0.4595 0.4088 0.4083 0.4115 0.3978 0.4351 0.4083
Seed 0.4714 0.0411 0.4859 0.4677 0.3691 0.4464 0.4342 0.4272 0.4752 0.4464

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 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20
A distributing GBP 2.7765 1.9368 2.0957 3.6523 2.7970 2.0409 1.5930 1.1154 1.2632
A accumulating GBP 5.2101 3.6835 4.0293 7.1000 5.5449 4.1082 3.2391 2.2958 2.6218
B distributing GBP  2.6034 1.8139 1.9597 3.4124 2.6093 1.9017 1.4790 1.0379 1.1739
B accumulating GBP 4.8980 3.4588 3.7777 6.6508 5.1861 3.8367 3.0210 2.1395 2.4391
Y distributing GBP 1.8670 1.3028 1.4102 2.4582 1.8832 1.3744 1.0730 0.7534 0.8514
Y accumulating GBP 2.0960 1.4823 1.6220 2.8588 2.2334 1.6547 1.3051 0.9242 1.0570

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 annual dividends

All funds have a XD date of 31 December 2019 and pay date of 28 February 2020.


JOHCM Asia ex Japan Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 1.8021
A EUR 28 Feb 2020 cents per share 1.7923
A USD 28 Feb 2020 cents per share 1.4855
B GBP 28 Feb 2020 pence per share 0.6266
B EUR 28 Feb 2020 cents per share 0.0638
B USD 28 Feb 2020 cents per share 1.6124

JOHCM Asia ex Japan Small and Mid Cap Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 3.1300
A EUR 28 Feb 2020 cents per share 2.8099
A USD 28 Feb 2020 cents per share 2.7475
B GBP 28 Feb 2020 pence per share 1.8821
B EUR 28 Feb 2020 cents per share 1.9280
B USD 28 Feb 2020 cents per share 1.6124

JOHCM Concentrated Global Share Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2020 pence per share 0.09794

JOHCM Continental European Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 2.4706
A EUR 28 Feb 2020 cents per share 7.4192
A - hedge GBP 28 Feb 2020 pence per share 9.0139
B GBP 28 Feb 2020 pence per share 6.5954
B EUR 28 Feb 2020 cents per share 5.6691
B - hedge USD 28 Feb 2020 cents per share 2.1446
Y GBP 28 Feb 2020 pence per share 3.0314
Y - hedge GBP 28 Feb 2020 pence per share 2.7274
Y EUR 28 Feb 2020 cents per share 3.0314

JOHCM European Select Values Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2020 pence per share 5.9865
A EUR 28 Feb 2020 cents per share 3.9287
B GBP 28 Feb 2020 pence per share 2.9895
B EUR 28 Feb 2020 cents per share 1.4341

JOHCM European Concentrated Value Fund

Share class Currency Pay date Dividend paid in Dividend rate
A EUR 28 Feb 2020 cents per share 1.6278
B USD 28 Feb 2020 cents per share 1.1828
B EUR 28 Feb 2020 cents per share 1.0740

JOHCM Global Emerging Markets Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 3.3106
A EUR 28 Feb 2020 cents per share 3.6734
A USD 28 Feb 2020 cents per share 2.8168
B GBP 28 Feb 2020 pence per share 2.4157
B EUR 28 Feb 2020 cents per share 2.7523
B USD 28 Feb 2020 cents per share 2.7885
Y GBP 28 Feb 2020 pence per share 4.2322
Y USD 28 Feb 2020 cents per share 3.6147

JOHCM Global Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 5.0670
A EUR 28 Feb 2020 cents per share 5.6662
A USD 28 Feb 2020 cents per share 4.9928
B GBP 28 Feb 2020 pence per share 5.6608
B EUR 28 Feb 2020 cents per share 5.2893
B USD 28 Feb 2020 cents per share 4.8215

JOHCM Global Select Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2020 pence per share 2.8206
A EUR 28 Feb 2020 cents per share 2.6793
A USD 28 Feb 2020 cents per share 1.5358
B GBP 28 Feb 2020 pence per share 0.3902
B EUR 28 Feb 2020 cents per share 0.3720
B USD 28 Feb 2020 cents per share 0.2511

JOHCM Japan Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 3.1582
A EUR 28 Feb 2020 cents per share 2.3586
A JPY 28 Feb 2020 yen per share 437.0683
A - hedged GBP 28 Feb 2020 pence per share 2.1461
B GBP 28 Feb 2020 pence per share 1.9398
B EUR 28 Feb 2020 cents per share 1.4400
B JPY 28 Feb 2020 yen per share 271.9972
B - hedged GBP 28 Feb 2020 pence per share 1.3891

JOHCM UK Dynamic Fund

Share class Currency Pay date Dividend paid in Dividend rate
A - distributing GBP 28 Feb 2020 pence per share 8.3375
A - accumulating GBP 28 Feb 2020 pence per share 1.1143
B - distributing GBP 28 Feb 2020 pence per share 7.6644
B - accumulating GBP 28 Feb 2020 pence per share 1.2491
Y - distributing GBP 28 Feb 2020 pence per share 5.2184
Y - accumulating GBP 28 Feb 2020 pence per share 6.4131
Y GBP 28 Feb 2020 pence per share 4.3172

JOHCM UK Growth Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 7.3614
B GBP 28 Feb 2020 pence per share 5.0086

JOHCM UK Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A - distributing GBP 28 Feb 2020 pence per share 6.4553
A - accumulating GBP 28 Feb 2020 pence per share 9.3148
B - distributing GBP 28 Feb 2020 pence per share 6.1496
B - accumulating GBP 28 Feb 2020 pence per share 8.7487
Y - accumulating GBP 28 Feb 2020 pence per share 1.6547
Y - distributing GBP 28 Feb 2020 pence per share 4.3346

 

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

  • 24 Oct 2017

    Acorns to oak trees

    Cho-Yu Kooi, manager of the JOHCM Asia ex Japan Small and Mid Cap Fund, provides an update on the Fund's positioning and some of the portfolio holdings. 

    Read More

Webcasts & Videos

  • JOHCM Asia ex Japan Fund,JOHCM Asia ex Japan Small/Mid Cap Fund Q3 2020 Update

    22 Oct 2020 09:00 AM | 45 mins

  • JOHCM Asia ex Japan Fund,JOHCM Asia ex Japan Small/Mid Cap Fund Q2 2020 Update

    29 Jul 2020 | 31 mins

  • JOHCM Asia ex Japan Fund,JOHCM Asia ex Japan Small/Mid Cap Fund Q1 2020 Update

    21 Apr 2020 | 35 mins

  • JOHCM Asia ex Japan Fund,JOHCM Asia ex Japan Small/Mid Cap Fund Q4 19 Update

    06 Feb 2020 | 28 mins

  • Cho-Yu Kooi

    Senior Fund Manager

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The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.

Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

Other Asian Equity Funds

JOHCM Asia ex Japan Fund

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.

Read More
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