JOHCM European Concentrated Value Fund

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Fund Description

The Fund was launched in Q1 2015 as a large-cap, concentrated version of the highly successful JOHCM European Select Values Fund (ESV). Managed by experienced European equity investors Robrecht Wouters, long-standing lead manager of the ESV fund, and Luis Fananas, the duo have a highly selective, valuation-oriented investment approach which focuses on undervalued pan-European large-cap companies that generate high returns on capital. Their stock-picking approach is unconstrained by benchmark weightings and combines traditional ‘value’ investing and ‘quality’ characteristics, such as high return on capital employed. The Fund will typically hold around 25 high conviction positions with a low portfolio turnover. The Fund will typically have sizeable sector biases, usually avoiding commodity-like industries and capital-intensive sectors such as financials.
Investment Strategy
  • Drawing upon their exhaustive analysis of individual stocks, Robrecht and Luis seek to find large-cap European stocks that they believe to be fundamentally undervalued in absolute terms (trading at a discount of 25+% to their intrinsic value)
  • They believe that, over time, 'value' stocks of companies with high returns on capital employed and strong cash flow should outperform
  • In their view, a portfolio comprising quality companies, characterised by established and superior business models, and high conviction investment ideas provides greater potential for capital appreciation
  • Please note that this fund, under UCITS regulations, may make use of derivatives for the purpose of efficient portfolio management. For further information on how derivatives are used in the management of the fund, please contact JOHCM Investor Relations.
Reasons To Invest
  • Since assuming leadership of the JOHCM European Select Values Fund in August 2008, Robrecht has established a reputation as a highly capable European stock picker
  • The Fund is aimed at long-term investors wishing to gain exposure to large-cap European equities via a low volatility approach that emphasises absolute value
  • Robrecht Wouters

    Senior Fund Manager

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  • Luis Fañanas

    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.

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

Read More
JOHCM European Select Values Fund

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) an...

Read More
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Investment Objective

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.

Fund details

Data as at 31 May 2022
Fund size GBP 68.61m
Strategy size GBP 292.06m (as at 31 March 2022)
Benchmark MSCI Europe NR 12pm adjusted
Domicile Ireland
Denomination EUR, USD
Share classes
B EUR (Launch date) 05-January-2016
B USD (Launch date) 31-March-2015
A EUR (Launch date) 31-March-2015
B - SGD - Hedge (Launch date) 31-March-2017
Unit type Distribution
XD Date 31 December
Payment date 28 February
Minimum investment
A USB 1,000
B GBP 1,000
Valuation point Daily (12pm, UK time)
Dealing frequency Daily 9-5pm
Fund codes
ISIN SEDOL
B EUR IE00BW0DJZ06 BW0DJZ0
B USD IE00BW0DK137 BW0DK13
A EUR IE00BW0DJY98 BW0DJY9
B SGD - Hedge IE00BDZD4R98 BDZD4R9

Fund ratings and awards

Data as at 31 May 2022

Fees and charges

Initial charge Up to 5%
Annual mgmt charge (A) 0.75%
Annual mgmt charge (B) 1.25%
Performance fee 15% on excess if Fund outperforms benchmark, calculated daily. Any underperformance carried forward. This fee applies to all share classes.

Administration

Investment manager J O Hambro Capital Management
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.

Strategy Highlights

As at 31 May 2022

Against a backdrop of sharply increasing bond yields (rising inflation is now well documented), European equities remained steady in May. Under the surface, we note again strongly diverging performances across industries: especially the energy and to a lesser degree the financials sectors performed strongly. The Fund outperformed the benchmark, returning 2.09% with two very strong stock specific contributions from Spanish plasma pharmaceutical group Grifols and German industrial conglomerate ThyssenKrupp. 

Grifols, as expected, confirmed in a quarterly update that business is recovering strongly from the pandemic lockdowns (which constrained plasma collections, the feedstock of their plasma-derived pharma products). Grifols’ share price rose over 22% but is still far below the fair value of a market leading business whose cash flow should, once recovered from the 2020-2021 pandemic, continue to grow steadily at 5—7% a year.

ThyssenKrupp on the other hand is very cyclical and quarterly reports are notably volatile. Its share price reversed the March setback after reporting strong quarterly results and increased earnings guidance for the year. But this month’s 23% rally still means little. The fundamental reality is that net cash represents more than half of the company’s market cap. A fundamental transformation - operational (costs) and strategic (portfolio changes) restructuring - is structurally enhancing sustainability of over-the-cycle cash flow power. The gap between the company’s share price and its intrinsic value remains extreme. 

Portfolio activity was limited this month. With a weighted average upside to intrinsic value of the Fund’s investments at near 90%, we can be very selective and patient. Significant valuation opportunities remain in pandemic-hit cyclicals and defensives (both ‘quality' or ‘classic’ value): the upward force of ‘Covid-normalisation’ should well withstand the negative drag of a possible economic downturn. 

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.

Fund Reporting

Monthly Portfolio Review

KIIDs
(Key Investor Information Documents)

A EUR
B USD B EUR

 

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.

Percentage growth of the fund versus benchmark

Data as at 31 May 2022
A GBP share class, since launch (31 March 2015)

Return history (%)

Data as at 31 May 2022

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. 


Mar 17 - Mar 18 Mar 18 - Mar 19 Mar 19 - Mar 20 Mar 20 - Mar 21 Mar 21 - Mar 22
Fund -0.58% 3.94% -25.16% 38.87% -1.44%

Monthly returns (%)

Data as at 31 May 2022
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Since inception
Fund 2015 -0.60 3.32 -5.26 2.36 -9.34 -1.66 8.90 3.10 -4.21 -4.50
Benchmark 2015 -0.17 2.72 -5.06 2.90 -8.20 -4.44 8.06 3.01 -5.07 -7.14
Fund 2016 -4.92 0.33 3.07 0.11 2.02 -2.71 3.97 0.41 -1.33 -1.46 -0.53 3.40 1.99
Benchmark 2016 -7.85 -1.73 2.70 2.48 1.80 -5.50 4.11 1.62 -1.57 0.29 0.97 5.16 1.68
Fund 2017 1.35 3.65 3.03 2.37 1.39 -0.64 -1.47 -1.21 2.93 1.84 -0.63 -0.27 12.87
Benchmark 2017 0.93 2.09 3.01 2.21 1.80 -1.92 -0.86 -1.25 3.60 2.21 -1.10 -0.23 10.81
Fund 2018 1.47 -3.60 -2.52 1.63 2.36 -1.10 2.05 0.46 0.91 -6.03 -0.38 -5.77 -10.50
Benchmark 2018 1.91 -3.83 -2.32 4.54 1.06 -1.42 3.11 -2.09 0.47 -5.64 -0.97 -5.37 -10.57
Fund 2019 5.57 3.52 1.32 2.33 -6.20 5.54 0.46 -2.02 0.47 -2.61 0.67 8.77
Benchmark 2019 6.36 3.77 2.29 3.67 -5.24 4.53 0.48 -1.01 3.11 1.48 2.90 1.65 26.18
Fund 2020 -1.91 -8.85 -14.78 11.39 3.30 2.75 -0.75 2.48 -3.79 -5.69 13.46 4.19 -1.72
Benchmark 2020 -0.60 -8.75 -15.32 8.92 1.79 2.31 -0.08 2.58 -2.42 -4.84 14.89 1.70 -3.12
Fund 2021 1.12 2.06 4.32 2.95 3.04 -0.09 -0.43 1.57 -0.86 0.52 -2.93 2.49 14.40
Benchmark 2021 0.12 2.04 6.26 1.73 3.03 1.25 1.80 2.00 -2.76 3.82 -2.17 5.69 24.89
Fund 2022 -3.14 -3.87 -0.37 -1.88 2.11 -7.07 11.82
Benchmark 2022 -3.45 -4.07 2.99 -1.64 0.01 -6.16 34.05

Source and notes

JOHCM/MSCI Barra/FTSE Group/Bloomberg/Lipper.

Data shown net of fees, net income reinvested. Please note that all fund performance is shown against the MSCI Europe NR 12pm adjusted. Performance of other share classes may vary and is available on request. 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 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.

Fund statistics

Data as at 31 May 2022
Fund size GBP 68.61m
Number of holdings 24

Top 10 holdings and active weights

Data as at 31 May 2022
Top 10 holdings
Liberty Global 6.83%
Oracle 6.63%
Danone 6.13%
UNITED INTERNET 5.55%
Grifols 5.44%
Thyssen Krupp 5.32%
Heineken 4.93%
Bayer 4.75%
SWATCH GROUP INH 4.70%
UNIVERSAL MUSIC GROUP 4.39%
Top 10 active weights
Liberty Global +6.83%
Oracle +6.63%
Danone +5.74%
UNITED INTERNET +5.51%
Grifols +5.37%
Thyssen Krupp +5.32%
Heineken +4.85%
SWATCH GROUP INH +4.62%
Metro Wholesale & Foods +4.27%
UNIVERSAL MUSIC GROUP +4.22%

Sector breakdown

Data as at 31 May 2022
Portfolio Benchmark Relative
Consumer Staples 26.03% 13.03% 13.00%
Communication Services 16.76% 3.91% 12.85%
Industrials 13.85% 14.25% -0.40%
Health Care 12.37% 15.78% -3.41%
Consumer Discretionary 9.18% 9.90% -0.73%
Materials 8.17% 7.81% 0.35%
Information Technology 6.63% 7.12% -0.49%
Utilities 3.84% 4.47% -0.63%
Energy 0.00% 6.57% -6.57%
Financials 0.00% 15.99% -15.99%
Real Estate 0.00% 1.16% -1.16%
Cash 3.18% 0.00% 3.18%

Market cap breakdown

Data as at 31 May 2022
Portfolio Benchmark Relative
Large Cap 85.87% 99.32% -13.45%
Medium Cap 10.95% 0.67% 10.28%
Small Cap 0.01% 0.01% 0.00%
Cash 3.17% 0.00% 3.17%
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.

Fund

 As at noon Share class Currency Domicile Sedol number NAV per share Change
JOHCM Asia ex Japan Fund 29/06/2022 A EUR Ireland B431KK7 2.404 -0.045
A GBP Ireland B3RQ272 2.467 -0.036
A USD Ireland B435PM6 1.874 -0.034
B EUR Ireland B5L49R5 2.416 -0.045
B GBP Ireland B3ZQS76 2.408 -0.036
B USD Ireland BF7NZT0 1.890 -0.034
Z GBP Ireland B44PG77 1.758 -0.026
Z USD Ireland BVG7681 1.257 -0.023
JOHCM Asia ex Japan Small and Mid Cap Fund 29/06/2022 A GBP Ireland B6R5LS4 2.932 -0.013
A USD Ireland B6R5QW3 2.369 -0.016
A EUR Ireland B6R5VD9 2.547 -0.022
B EUR Ireland B6R5HM0 2.893 -0.023
B GBP Ireland B6R63P8 2.851 -0.010
B USD Ireland B6R5YM9 2.248 -0.017
Z GBP Ireland B4X3T62 2.233 -0.009
JOHCM Continental European Fund 29/06/2022 A EUR Ireland 3300923 4.023 -0.062
A GBP Ireland 3300912 4.991 -0.057
A USD Ireland BJ4G0G2 1.582 -0.025
A Hedged GBP Ireland BSJCJ49 1.374 -0.021
B USD Ireland BJ4G0H3 1.611 -0.025
B EUR Ireland 3300901 4.048 -0.063
B GBP Ireland 3100543 4.808 -0.055
Y EUR Ireland B98YKX9 1.550 -0.023
Y GBP Ireland B993PD0 1.837 -0.021
Y Hedged GBP Ireland BSJCJ50 1.435 -0.022
JOHCM European Concentrated Value Fund 29/06/2022 A EUR Ireland BW0DJY9 0.973 -0.024
B EUR Ireland BW0DJZ0 0.966 -0.025
Z EUR Ireland BYNJFN9 0.896 -0.023
Z AUD Ireland BYNJFM8 1.074 -0.019
JOHCM European Select Values Fund 29/06/2022 A EUR Ireland 3290433 3.289 -0.079
A GBP Ireland 3290422 5.117 -0.103
B EUR Ireland 3290411 2.202 -0.052
B GBP Ireland 3290400 4.685 -0.094
Non-Distributing EUR Ireland BSFWK51 1.222 -0.029
X EUR Ireland B4K14L9 1.572 -0.037
Y EUR Ireland BMXC8L3 0.887 -0.020
JOHCM Global Emerging Markets Opportunities Fund 29/06/2022 A EUR Ireland B3ZBLW7 1.514 -0.024
A GBP Ireland B4002N4 1.393 -0.018
A USD Ireland B4M6CN0 1.092 -0.017
B EUR Ireland B4TRCR0 1.494 -0.025
B GBP Ireland B41RZ57 1.339 -0.017
B USD Ireland B4XXMP2 1.428 -0.022
Y GBP Ireland BYSGJY4 1.678 -0.021
Y USD Ireland BYSGJZ5 1.327 -0.021
Z CAD Ireland BBPK0L2 1.477 -0.025
Z GBP Ireland B6R54W9 1.756 -0.022
JOHCM Global Income Builder Fund 29/06/2022 A EUR Ireland BFZWPD3 1.091 -0.011
A GBP Ireland BFZWPC2 1.070 -0.006
A SGD Ireland BFZWPG6 0.995 -0.009
A USD Ireland BFZWPF5 0.969 -0.009
B EUR Ireland BFZWPJ9 1.044 -0.011
Seed EUR Ireland BKF2GH9 0.974 -0.010
Seed GBP Ireland BFZWPH7 1.125 -0.007
Seed GBP Ireland BHR0DJ1 1.152 -0.007
JOHCM Global Opportunities Fund (offshore) 29/06/2022 A EUR Ireland B7MR557 2.645 -0.035
A GBP Ireland B89PQM5 2.416 -0.023
A USD Ireland B89JY23 2.194 -0.027
A Hedged EUR Ireland BFZWWX2 1.036 -0.014
B EUR Ireland B80FZF0 2.413 -0.033
B GBP Ireland BF7NZS9 2.637 -0.025
B USD Ireland B8295C7 2.070 -0.027
X EUR Ireland BJ5JW42 1.207 -0.016
X EUR Ireland BMCZLF8 1.321 -0.017
X GBP Ireland BQVC9L0 2.066 -0.019
X Hedged GBP Ireland BF29TX5 1.124 -0.014
Z EUR Ireland BDZD4M4 1.199 -0.016
Z GBP Ireland B83MS15 0.969 -0.009
JOHCM Global Opportunities Fund (offshore) 29/06/2022 X Non-distributing NOK NOK Ireland BMFV6C5 10.365 -0.144
JOHCM Global Opportunities Fund (onshore) 29/06/2022 A Accumulating GBP UK BJ5JMC0 1.267 -0.012
A Accumulating Hedged GBP UK BKDV8G1 1.111 -0.015
A Distributing GBP UK BJ5JMD1 1.191 -0.012
X Accumulating GBP UK BJ5JMF3 1.235 -0.013
X Distributing GBP UK BJ5JMG4 1.192 -0.012
JOHCM Global Select Fund 29/06/2022 A EUR Ireland B3DBRP4 3.865 -0.087
A GBP Ireland B3DBRN2 4.155 -0.077
A USD Ireland B3T31Z2 2.083 -0.046
B EUR Ireland B3DBRM1 3.711 -0.083
B GBP Ireland B3DBRL0 3.969 -0.074
B USD Ireland B5L7L67 2.357 -0.051
Z GBP Ireland B3DCMB8 3.009 -0.056
Z USD Ireland B4V7J00 2.359 -0.052
JOHCM Uk Dynamic Fund 29/06/2022 Y GBP Ireland BDGKPZ4 0.985 -0.015
JOHCM UK Dynamic Fund (onshore) 29/06/2022 A Accumilating GBP UK B4T7HR5 2.794 -0.043
A Distributing GBP UK B4T8552 1.891 -0.029
B Accumulating GBP UK B4T7JX5 3.085 -0.048
B Distributing GBP UK B4TXJ33 1.711 -0.026
X Accumulating GBP UK BJ7HNB8 1.092 -0.017
X Distributing GBP UK BJ5JMB9 0.987 -0.016
Y GBP UK BDZRJ21 1.188 -0.018
Y Accumulating GBP UK BDZRJ10 1.614 -0.025
JOHCM UK Equity Income Fund 29/06/2022 A Accumulating GBP UK B03KR50 4.079 -0.043
A Distributing GBP UK B03KP23 1.836 -0.019
B Accumulating GBP UK B03KR83 3.760 -0.039
B Distributing GBP UK B03KR61 1.691 -0.017
X Distributing GBP UK BYV9S21 0.917 -0.010
Y GBP UK B95FCK6 1.241 -0.013
Y Accumulating GBP UK B8FCHK5 1.649 -0.017
JOHCM UK Growth Fund 29/06/2022 A GBP Ireland 3300934 3.615 -0.024
B GBP Ireland 3100554 3.133 -0.021
Non-distributing EUR Ireland BLLV8D7 1.960 -0.021
Non-distributing USD Ireland BLLV8C6 1.918 -0.019
X EUR Ireland BLLV882 1.974 -0.021
X EUR Ireland BLLV8B5 1.833 -0.012
X GBP Ireland BLLV893 1.803 -0.012
X USD Ireland BLLV871 1.932 -0.019
JOHCM UK Opportunities Fund 29/06/2022 A Accumulating GBP UK B0LLB64 2.990 -0.035
A Distributing GBP UK B3K76Q9 1.914 -0.022
B Accumulating GBP UK B0LLB75 2.767 -0.033
B Distributing GBP UK B3K76P8 1.796 -0.021
X Accumulating GBP UK BQJZQQ5 1.378 -0.016
X Distributing GBP UK B95MSF4 1.086 -0.013
Y GBP UK B95J5C1 1.290 -0.015
Y Accumulating GBP UK B95HP81 1.674 -0.020
Regnan Global Equity Impact Solutions Fund (offshore) 29/06/2022 A EUR Ireland BN2BD91 0.826 -0.023
A GBP Ireland BN2BD80 0.802 -0.019
A USD Ireland BN2BDC4 0.720 -0.019
A Hedged EUR Ireland BN2BDB3 0.702 -0.020
B EUR Ireland BN2BDF7 0.817 -0.023
B GBP Ireland BN2BDD5 0.796 -0.019
B USD Ireland BN2BDH9 0.713 -0.019
B Hedged EUR Ireland BN2BDG8 0.690 -0.019
Seed EUR Ireland BN2BDS0 0.837 -0.024
Seed GBP Ireland BN2BDR9 0.813 -0.019
Seed USD Ireland BN2BDV3 0.726 -0.021
Seed Hedge EUR Ireland BN2BDT1 0.707 -0.019
Z GBP Ireland BN2BDN5 0.810 -0.020
Regnan Global Equity Impact Solutions Fund (offshore) 29/06/2022 Y CAD CAD Ireland BMWMY49 0.823 -0.022
Regnan Global Equity Impact Solutions Fund (onshore) 29/06/2022 A Accumulating GBP UK BMCZDD0 0.946 -0.022
F Accumulating GBP UK BMCZDJ6 0.957 -0.021
Y Accumulating GBP UK BMCZDK7 0.949 -0.021
Regnan Sustainable Water and Waste Fund (offshore) 29/06/2022 A EUR Ireland BLPKC72 0.843 -0.013
A USD Ireland BLPKC94 0.786 -0.013
A GBP Ireland BLPKC61 0.857 -0.011
B EUR Ireland BLPKCC7 0.845 -0.014
B GBP Ireland BLPKCB6 0.859 -0.011
B USD Ireland BLPKF84 0.788 -0.012
Y GBP Ireland BLPKF95 0.858 -0.011
Y EUR Ireland BLPKFC8 0.843 -0.013
Y USD Ireland BLPKFF1 0.786 -0.013
Regnan Sustainable Water and Waste Fund (onshore) 29/06/2022 A Accumulating GBP UK BMYXD32 0.918 -0.013
F Accumulating GBP UK BMYXQ55 0.924 -0.013
Y Accumulating GBP UK BMYXQ55 0.924 -0.013

Dividend Rates

Funds paying monthly dividends

JOHCM Global Income Builder Fund

Share class 07/21 08/21 09/21 10/21 11/21 12/21 01/22 02/22 03/22 04/22 05/22 06/22
A  GBP 0.3257 0.3877 0.3516 0.3570 0.3621 0.3848 0.3789 0.3654 0.3251 0.3709 0.3481 0.3848
A EUR 0.3336 0.3978 0.3638 0.3677 0.3601 0.3996 0.4003 0.3863 0.3443 0.3889 0.3655 0.3990
A USD   0.3443 0.3985 0.3651 0.3597 0.3518 0.3821 0.3812 0.3676 0.0349 0.3634 0.3242 0.3611
A SGD  0.3364 0.3965 0.3644 0.3609 0.3506 0.3848 0.3823 0.3665 0.3256 0.3641 0.3321 0.3661
B EUR 0.3229 0.3847 0.3515 0.3546 0.3469 0.3847 0.3850 0.3712 0.3306 0.3731 0.3503 0.3820
Seed 0.2966 0.3538 0.3237 0.3274 0.3207 0.3561 0.3978 0.3838 0.3416 0.3470 0.3262 0.3562

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 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22
A distributing GBP 2.0409 1.5930 1.1154 1.2632 1.0771 1.1681 2.3283 3.0863 1.2881 1.9828
A accumulating GBP 4.1082 3.2391 2.2958 2.6218 2.2581 2.4649 4.9447 6.6368 2.8152 4.3509
B distributing GBP  1.9017 1.4790 1.0379 1.1739 0.9997 1.0825 2.1559 2.8539 1.1897 1.8271
B accumulating GBP 3.8367 3.0210 2.1395 2.4391 2.0980 2.2869 4.5836 6.1431 2.6020 4.0228
Y distributing GBP 1.3744 1.0730 0.7534 0.8514 0.7263 0.7879 1.5709 2.0833 0.8697 1.3383
Y accumulating GBP 1.6547 1.3051 0.9242 1.0570 0.5363 0.9944 1.9953 2.6787 1.1364 1.7602

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 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 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 0.0000

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 28 Feb 2022 pence per share 6.2558
A - accumulating GBP 28 Feb 2022 pence per share 8.9515
B - distributing GBP 28 Feb 2022 pence per share 5.6880
B - accumulating GBP 28 Feb 2022 pence per share 9.9325
Y - distributing GBP 28 Feb 2022 pence per share 3.9239
Y - accumulating GBP 28 Feb 2022 pence per share 5.1639
Y GBP 28 Feb 2022 pence per share 3.2091

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.

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    JOHCM European Select Values Fund Q1 2021 Update

    15 Apr 2021 | 40 mins

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    JOHCM European Select Values Fund Q4 2020 Update

    15 Jan 2021 | 32 mins

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    JOHCM European Select Values Fund Q3 2020 Update

    14 Oct 2020 | 44 mins

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    JOHCM European Select Values Fund Q2 2020 Update

    09 Jul 2020 | 43 mins

  • Robrecht Wouters

    Senior Fund Manager

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  • Luis Fañanas

    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.

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Environmental and Social Characteristics

The investments underlying the Fund do not take into account the EU criteria for environmentally sustainable economic activities within the meaning of the Taxonomy Regulation (Regulation (EU) 2020/852 and amending Regulation (EU) 2019/2088).

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