JOHCM Global Emerging Markets Opportunities Fund J O Hambro Capital Management (JOHCM)

Fund Description

For fund managers James Syme, Paul Wimborne and Ada Chan, identifying the right countries in which to invest is the most important influence on investment performance. Complementing their top-down view is a stock selection process that focuses on identifying quality growth stocks within their favoured countries. The result is a large-cap biased portfolio of typically 50-60 stocks.

Investment Strategy

James, Paul and Ada believe country allocation is the major driver of outperformance in emerging markets
Through an exhaustive monthly country allocation process that covers all 20+ countries within the MSCI Emerging Markets Index, the fund managers produce country allocation targets for each country within the index based on a five-factor analysis: Growth, Liquidity, Currency, Management/Politics and Valuation of equity market
Complementing their top-down view is a stock selection process that focuses on identifying quality growth stocks trading on attractive valuations within the fund managers’ favoured countries
Over time, they expect that top-down and bottom-up decisions will each contribute 50% of total value added

Reasons To Invest

Emerging markets are playing an increasingly important role in investors’ asset allocation decisions. They have witnessed dynamic expansion in recent years but should continue to drive global economic growth in the years ahead
Established, transparent investment process that has a long-term track record of outperformance
Strong emphasis on risk management and a consistent investment style tilt through the market cycle

James Syme

Senior Fund Manager
Paul Wimborne

Senior Fund Manager
Ada Chan

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.

Back

Investment Objective

The JOHCM Global Emerging Markets Opportunities Fund aims to achieve long-term capital appreciation from investing in a portfolio of equity securities of companies in emerging markets around the world.

Fund details

Data as at 31 October 2022

Fund size

GBP 187.86m

Strategy size

GBP 1.66bn (as at 30 September 2022)

Benchmark

MSCI Emerging Markets NR 12pm adjusted

Domicile

Ireland

Denomination

GBP, EUR, USD

Share classes

A GBP	(Launch date) 30-June-2011
A USD	(Launch date) 30-June-2011
A EUR	(Launch date) 30-June-2011
B GBP	(Launch date) 30-June-2011
B USD	(Launch date) 30-June-2011
B EUR	(Launch date) 30-June-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	IE00B4002N46	B4002N4
A USD	IE00B4M6CN00	B4M6CN0
A EUR	IE00B3ZBLW75	B3ZBLW7
B GBP	IE00B41RZ573	B41RZ57
B USD	IE00B4XXMP29	B4XXMP2
B EUR	IE00B4TRCR07	B4TRCR0

Fund ratings and awards

Data as at 31 October 2022

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.

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 31 October 2022

Our investment process is designed to be alert not just to the level of market drivers, but also to change and trend, to positive and negative surprises, and to changing forecasts and surveys. So, with China having seen some major political changes this month, and with Chinese equities having aggressively derated in valuation terms, how, if at all, has our view on China changed?

This month saw President Xi Jinping appointed for an unprecedented third term, while the overhaul of the Politburo Standing Committee saw market-friendly reformers (including Premier Li Keqiang) removed and replaced with members seen as Xi loyalists. State media have also begun referring to Xi Jinping as ‘Core’ leader whilst establishing his political views (Xi Jinping Thought) as doctrine. This marks a move away from the ‘Collective Leadership’ system of Chinese politics that has been in place since the 11th Party Congress in 1978. However, the economic focus on technology and quality of life adopted at the 2017 Congress remains in place; the main changes at this Congress were on governance and national security, with emphases on international relations, geopolitics, and reunification with Taiwan.

Growth in China is weak by historic standards, with strong exports offset by poor domestic investment and consumption. 3Q GDP was up 3.0% YoY, with industrial production up 6.3% YoY and exports up 10.7% YoY, but retail sales were up only 2.5% YoY, and property sales (for the 31 main listed players) were -29% YoY (all to September). We take no strategic views, and, just as no market is an automatic overweight, so is no market automatically excluded. We do not think that Chinese equities, whether A-shares, H-shares or overseas listings, are ‘uninvestable’, and we remain alert to opportunities. It must be said, though, that Chinese policy and economic data have a long path to walk to make equities there attractive.

Brazil has been one of our favourite emerging markets from late 2020, since when it has delivered strong USD total returns despite a significant negative return from the MSCI Emerging Markets Index. October’s election has returned Luiz Inacio Lula da Silva (Lula) as the president, a position he held from 2002-2010. As Lula is from the left-wing Workers’ Party (PT), and given recent hostile market reactions to left-wing electoral successes in Chile, Colombia and Peru, how has our view on Brazil changed? We remain very positive in both an absolute sense and relative to other emerging markets. We do not see a Lula administration as a material risk to Brazil’s economy or financial markets, and continue to find attractive investment opportunities there. In an emerging market-relative sense, and even in a global sense, Brazil’s reasonably good conditions are extremely attractive. Net energy exports, a central bank that seems to have got on top of inflation, fiscal orthodoxy, moderate economic growth and attractive market valuations are conditions enjoyed by few countries anywhere. Given that, we think investors can live with a more left-wing government in Brazil. We certainly can.

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Information on the rights of investors can be found here.

Fund Reporting

Factsheet

Monthly Portfolio Review

KIIDs
(Key Investor Information Documents)

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

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Information on the rights of investors can be found here.

Percentage growth of the fund versus benchmark

Data as at 31 October 2022

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

Return history (%)

Data as at 31 October 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. 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. You should not base your decision to invest on this document. 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 17 - Sep 18	Sep 18 - Sep 19	Sep 19 - Sep 20	Sep 20 - Sep 21	Sep 21 - Sep 22
Fund	1.06%	5.80%	-0.67%	14.37%	-4.81%

Monthly returns (%)

Data as at 31 October 2022

		Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Annual	Since inception
Fund	2011							-2.90	-7.42	-9.23	10.91	-6.08		-15.00
Benchmark	2011							-2.13	-9.44	-10.12	10.93	-6.42	1.36	-16.19
Fund	2012	6.82	6.17	-5.29	-2.08	-8.95	-0.61	4.08	-0.36	4.65	-0.46	0.92	1.47	5.29
Benchmark	2012	9.39	5.02	-3.98	-2.73	-6.86	1.97	3.27	-2.02	3.95		1.59	4.03	13.27
Fund	2013	4.31	2.79	-1.85	-1.44	2.58	-8.64	2.04	-3.17	2.30	6.16	-1.00	-1.13	2.10
Benchmark	2013	3.65	2.67	-1.74	-1.74	-0.28	-6.87	1.83	-3.88	2.63	5.52	-3.62	-2.35	-4.79
Fund	2014	-6.05	2.81	0.24	-1.07	6.71	-0.22	3.04	2.40	-4.37	3.79	2.47	-2.94	6.23
Benchmark	2014	-6.61	2.57	2.75	-0.26	4.71	0.16	3.45	3.37	-4.88	2.10	1.26	-4.19	3.74
Fund	2015	7.69	-0.91	3.27	4.35	-1.80	-7.05	-6.65	-7.12	-1.44	8.26	-0.22	-1.35	-4.41
Benchmark	2015	4.33	0.32	2.70	3.75	-2.70	-6.20	-6.29	-7.65	-1.87	6.41	-1.32	-1.49	-10.61
Fund	2016	-6.50	2.32	7.63	-2.44	-1.25	12.99	8.34	3.76	2.90	3.61	-6.62	0.73	26.34
Benchmark	2016	-3.99	3.64	9.36	-0.88	-3.35	11.91	7.43	3.58	2.27	6.62	-6.72	1.52	34.03
Fund	2017	5.27	2.78	3.63	-1.47	4.72	0.55	3.93	3.48	-3.36	6.28	-2.14	1.96	28.23
Benchmark	2017	4.22	3.46	2.40	-1.85	4.13	-0.50	4.79	4.08	-4.26	4.96	-1.09	2.82	25.15
Fund	2018	-1.17	-2.48	-3.37	3.95	0.97	-1.40	1.42	-1.11	-1.42	-6.05	4.51	-3.62	-9.82
Benchmark	2018	3.20	-2.08	-4.01	2.49	-0.63	-3.22	2.43	-1.84	-0.65	-7.08	4.71	-2.67	-9.57
Fund	2019	3.84	-1.17	5.23	1.13	-1.34	4.98	1.80	-3.95	1.10	-3.27	-1.05	4.18	11.48
Benchmark	2019	5.45	-0.49	1.60	3.28	-4.44	5.72	3.08	-5.33	1.12	-0.91	0.31	4.90	14.44
Fund	2020	-2.10	-3.81	-14.12	11.27	0.83	7.65	-0.46	0.31	2.14	0.37	6.35	5.76	12.47
Benchmark	2020	-3.77	-3.70	-12.29	8.99	1.23	8.44	1.77	2.21	-0.28	2.15	6.49	4.44	14.60
Fund	2021	1.11	0.93	1.58	0.32	0.97	2.17	-5.13	1.45	-1.89	-1.72	-0.13	3.58	2.99
Benchmark	2021	3.10	-1.33	-0.52	1.88	-1.34	3.87	-7.21	3.48	-1.51	-1.07	-1.01	0.72	-1.43
Fund	2022	-0.38	-4.53	-0.21	-0.42	1.97	-4.27	0.43	4.80	-3.56	-4.33			-10.41	56.81
Benchmark	2022	-1.90	-2.44	-0.10	-1.42	-0.04	-2.55	-1.01	5.37	-7.64	-7.13			-17.85	35.03

Source and notes

JOHCM/MSCI/Bloomberg/Lipper.

Data shown net of fees, net income reinvested. Performance of other share classes may vary and is available on request. Please note that all fund performance is shown against the MSCI Emerging Markets NR 12pm adjusted in GBP. Performance of other share classes may vary and is available on request. Where shown, monthly returns table shows compounded discrete monthly performance.

Disclaimer

This is a marketing communication.

Information on the rights of investors can be found here.

Fund statistics

Data as at 31 October 2022

Fund size	GBP 187.86m
Number of holdings	54

Top 10 holdings and active weights

Data as at 31 October 2022

Top 10 holdings

Samsung Electronics	4.51%
HDFC Bank	4.02%
State Bank of India	3.92%
Mahindra & Mahindra	3.81%
Tencent	3.74%
Emaar Properties	3.36%
Larsen & Toubro	3.35%
Grupo Fin Banorte	3.11%
Ambev	2.97%
Barrick Gold	2.82%

Top 10 active weights

HDFC Bank	+4.02%
State Bank of India	+3.70%
Mahindra & Mahindra	+3.55%
Emaar Properties	+3.24%
Larsen & Toubro	+3.04%
Barrick Gold	+2.82%
Grupo Fin Banorte	+2.73%
PROYA COSMETICS A (HK-C)	+2.71%
Ambev	+2.71%
FIRSTRAND	+2.42%

Sector breakdown

Data as at 31 October 2022

	Portfolio	Benchmark	Relative
Financials	27.70%	23.64%	4.06%
Consumer Staples	11.61%	6.51%	5.10%
Materials	10.69%	9.13%	1.56%
Information Technology	10.45%	19.06%	-8.61%
Consumer Discretionary	10.22%	12.27%	-2.05%
Communication Services	7.54%	8.69%	-1.15%
Industrials	7.15%	6.09%	1.06%
Real Estate	5.10%	1.73%	3.37%
Energy	4.77%	5.59%	-0.82%
Utilities	2.12%	3.22%	-1.10%
Health Care	0.00%	4.07%	-4.07%
Cash	2.65%	0.00%	2.65%

Market cap breakdown

Data as at 31 October 2022

	Portfolio	Benchmark	Relative
Large Cap	68.40%	73.12%	-4.72%
Medium Cap	26.99%	26.81%	0.17%
Small Cap	1.96%	0.06%	1.90%
Cash	2.65%	0.00%	2.65%

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Fund	As at noon	Share class	Currency	Domicile	Sedol number	NAV per share	Change
JO Hambro Global Select Shariah Fund	02/12/2022	A	USD	Ireland	BMZQQY2	0.975	0.003
JOHCM (ire) Uk Dynamic Fund	02/12/2022	EUR Y	EUR	Ireland	BP6NT66	0.998	-0.001
		USD Y	USD	Ireland	BPP4K90	1.126	0.004
JOHCM Asia ex Japan Fund	02/12/2022	A	EUR	Ireland	B431KK7	2.324	0.007
		A	GBP	Ireland	B3RQ272	2.365	0.015
		A	USD	Ireland	B435PM6	1.814	0.013
		B	EUR	Ireland	B5L49R5	2.330	0.007
		B	GBP	Ireland	B3ZQS76	2.303	0.015
		B	USD	Ireland	BF7NZT0	1.824	0.012
		Z	GBP	Ireland	B44PG77	1.692	0.011
		Z	USD	Ireland	BVG7681	1.221	0.008
JOHCM Asia ex Japan Small and Mid Cap Fund	02/12/2022	A	EUR	Ireland	B6R5VD9	2.593	0.001
		A	GBP	Ireland	B6R5LS4	2.958	0.012
		A	USD	Ireland	B6R5QW3	2.415	0.013
		B	EUR	Ireland	B6R5HM0	2.939	0.003
		B	GBP	Ireland	B6R63P8	2.872	0.014
		B	USD	Ireland	B6R5YM9	2.288	0.012
		Z	GBP	Ireland	B4X3T62	2.262	0.011
JOHCM Continental European Fund	02/12/2022	A	EUR	Ireland	3300923	4.382	0.001
		A	GBP	Ireland	3300912	5.389	0.021
		A	USD	Ireland	BJ4G0G2	1.749	0.001
		A Hedged	GBP	Ireland	BSJCJ49	1.503	0.001
		B	EUR	Ireland	3300901	4.399	0.002
		B	GBP	Ireland	3100543	5.180	0.020
		B	USD	Ireland	BJ4G0H3	1.777	0.001
		GBP X	GBP	Ireland	BP6NT77	1.068	0.004
		Y	EUR	Ireland	B98YKX9	1.689	0.001
		Y	GBP	Ireland	B993PD0	1.986	0.009
		Y Hedged	GBP	Ireland	BSJCJ50	1.570	0.002
JOHCM Continental European Fund	02/12/2022	USD Y	USD	Ireland	BPP4K89	1.170	0.006
JOHCM European Select Values Fund	02/12/2022	A	EUR	Ireland	3290433	3.398	0.028
		A	GBP	Ireland	3290422	5.241	0.060
		B	EUR	Ireland	3290411	2.268	0.017
		B	GBP	Ireland	3290400	4.788	0.055
		Non-Distributing	EUR	Ireland	BSFWK51	1.259	0.010
		X	EUR	Ireland	B4K14L9	1.618	0.013
		Y	EUR	Ireland	BMXC8L3	0.916	0.007
JOHCM Global Emerging Markets Opportunities Fund	02/12/2022	A	EUR	Ireland	B3ZBLW7	1.548	-0.011
		A	GBP	Ireland	B4002N4	1.411	-0.005
		A	USD	Ireland	B4M6CN0	1.118	-0.004
		B	EUR	Ireland	B4TRCR0	1.528	-0.011
		B	GBP	Ireland	B41RZ57	1.357	-0.005
		B	USD	Ireland	B4XXMP2	1.461	-0.005
		Y	GBP	Ireland	BYSGJY4	1.700	-0.007
		Y	USD	Ireland	BYSGJZ5	1.354	-0.004
		Z	CAD	Ireland	BBPK0L2	1.591	-0.002
		Z	GBP	Ireland	B6R54W9	1.792	-0.006
JOHCM Global Income Builder Fund	02/12/2022	A	EUR	Ireland	BFZWPD3	1.080	-0.002
		A	GBP	Ireland	BFZWPC2	1.050	0.002
		A	SGD	Ireland	BFZWPG6	0.958	-0.002
		A	USD	Ireland	BFZWPF5	0.960	0.002
		B	EUR	Ireland	BFZWPJ9	1.028	-0.003
		Seed	EUR	Ireland	BKF2GH9	0.966	-0.003
		Seed	GBP	Ireland	BFZWPH7	1.106	0.002
		Seed	GBP	Ireland	BHR0DJ1	1.156	0.002
JOHCM Global Opportunities Fund (offshore)	02/12/2022	A	EUR	Ireland	B7MR557	2.760	-0.002
		A	GBP	Ireland	B89PQM5	2.500	0.007
		A	USD	Ireland	B89JY23	2.292	0.009
		A Hedged	EUR	Ireland	BFZWWX2	1.065	0.004
		B	EUR	Ireland	B80FZF0	2.511	-0.002
		B	GBP	Ireland	BF7NZS9	2.720	0.008
		B	USD	Ireland	B8295C7	2.156	0.008
		X	EUR	Ireland	BJ5JW42	1.260	-0.001
		X	GBP	Ireland	BQVC9L0	2.139	0.007
		X Hedged	GBP	Ireland	BF29TX5	1.156	0.004
		Z	EUR	Ireland	BDZD4M4	1.254	-0.001
		Z	GBP	Ireland	B83MS15	1.006	0.003
JOHCM Global Opportunities Fund (offshore)	02/12/2022	X Non-distributing NOK	NOK	Ireland	BMFV6C5	10.755	0.028
JOHCM Global Opportunities Fund (onshore)	02/12/2022	A Accumulating	GBP	UK	BJ5JMC0	1.306	0.003
		A Accumulating Hedged	GBP	UK	BKDV8G1	1.138	0.003
		A Distributing	GBP	UK	BJ5JMD1	1.228	0.003
		X Accumulating	GBP	UK	BJ5JMF3	1.275	0.003
		X Distributing	GBP	UK	BJ5JMG4	1.231	0.003
JOHCM Global Select Fund	02/12/2022	A	USD	Ireland	B3T31Z2	2.099	0.012
		A	EUR	Ireland	B3DBRP4	3.891	0.006
		A	GBP	Ireland	B3DBRN2	4.146	0.021
		B	EUR	Ireland	B3DBRM1	3.723	0.005
		B	GBP	Ireland	B3DBRL0	3.949	0.020
		B	USD	Ireland	B5L7L67	2.367	0.014
		Z	GBP	Ireland	B3DCMB8	3.012	0.015
JOHCM Uk Dynamic Fund	02/12/2022	Y	GBP	Ireland	BDGKPZ4	1.002	0.003
JOHCM UK Dynamic Fund (onshore)	02/12/2022	A Accumilating	GBP	UK	B4T7HR5	2.905	0.008
		A Distributing	GBP	UK	B4T8552	1.921	0.005
		B Accumulating	GBP	UK	B4T7JX5	3.201	0.009
		B Distributing	GBP	UK	B4TXJ33	1.734	0.004
		X Accumulating	GBP	UK	BJ7HNB8	1.136	0.003
		X Distributing	GBP	UK	BJ5JMB9	1.004	0.003
		Y	GBP	UK	BDZRJ21	1.207	0.003
		Y Accumulating	GBP	UK	BDZRJ10	1.679	0.005
JOHCM UK Equity Income Fund	02/12/2022	A Accumulating	GBP	UK	B03KR50	4.287	-0.040
		A Distributing	GBP	UK	B03KP23	1.857	-0.017
		B Accumulating	GBP	UK	B03KR83	3.943	-0.037
		B Distributing	GBP	UK	B03KR61	1.706	-0.016
		X Distributing	GBP	UK	BYV9S21	0.928	-0.009
		Y	GBP	UK	B95FCK6	1.255	-0.012
		Y Accumulating	GBP	UK	B8FCHK5	1.733	-0.017
JOHCM UK Growth Fund	02/12/2022	A	GBP	Ireland	3300934	3.735	0.010
		B	GBP	Ireland	3100554	3.230	0.009
		Non-distributing	EUR	Ireland	BLLV8D7	2.041	-0.002
		Non-distributing	USD	Ireland	BLLV8C6	1.999	0.007
		X	EUR	Ireland	BLLV882	2.058	-0.002
		X	EUR	Ireland	BLLV8B5	1.883	0.006
		X	GBP	Ireland	BLLV893	1.864	0.005
		X	USD	Ireland	BLLV871	2.017	0.007
JOHCM UK Opportunities Fund	02/12/2022	A Accumulating	GBP	UK	B0LLB64	3.245	0.007
		A Distributing	GBP	UK	B3K76Q9	2.077	0.005
		B Accumulating	GBP	UK	B0LLB75	2.997	0.007
		B Distributing	GBP	UK	B3K76P8	1.945	0.004
		X Accumulating	GBP	UK	BQJZQQ5	1.496	0.003
		X Distributing	GBP	UK	B95MSF4	1.180	0.003
		Y	GBP	UK	B95J5C1	1.401	0.004
		Y Accumulating	GBP	UK	B95HP81	1.818	0.004
Regnan Global Equity Impact Solutions Fund (offshore)	02/12/2022	Y CAD	CAD	Ireland	BMWMY49	0.949	0.012
Regnan Global Equity Impact Solutions Fund (offshore)	02/12/2022	A	EUR	Ireland	BN2BD91	0.910	0.007
		A	GBP	Ireland	BN2BD80	0.876	0.009
		A	USD	Ireland	BN2BDC4	0.795	0.010
		A Hedged	EUR	Ireland	BN2BDB3	0.758	0.009
		B	EUR	Ireland	BN2BDF7	0.897	0.006
		B	GBP	Ireland	BN2BDD5	0.868	0.010
		B	USD	Ireland	BN2BDH9	0.784	0.010
		B Hedged	EUR	Ireland	BN2BDG8	0.742	0.009
		Seed	EUR	Ireland	BN2BDS0	0.925	0.007
		Seed	GBP	Ireland	BN2BDR9	0.891	0.010
		Seed	USD	Ireland	BN2BDV3	0.803	0.009
		Seed Hedge	EUR	Ireland	BN2BDT1	0.766	0.009
		Z	GBP	Ireland	BN2BDN5	0.888	0.010
Regnan Global Equity Impact Solutions Fund (onshore)	02/12/2022	A Accumulating	GBP	UK	BMCZDD0	1.034	0.012
		F Accumulating	GBP	UK	BMCZDJ6	1.049	0.012
		Y Accumulating	GBP	UK	BMCZDK7	1.037	0.012
Regnan Sustainable Water and Waste Fund (offshore)	02/12/2022	A	EUR	Ireland	BLPKC72	0.922	-0.003
		A	USD	Ireland	BLPKC94	0.862	0.001
		A	GBP	Ireland	BLPKC61	0.930	0.000
		B	EUR	Ireland	BLPKCC7	0.923	-0.003
		B	GBP	Ireland	BLPKCB6	0.932	0.000
		B	USD	Ireland	BLPKF84	0.863	0.001
		Y	GBP	Ireland	BLPKF95	0.932	0.000
		Y	EUR	Ireland	BLPKFC8	0.923	-0.003
		Y	USD	Ireland	BLPKFF1	0.862	0.001
Regnan Sustainable Water and Waste Fund (onshore)	02/12/2022	A Accumulating	GBP	UK	BMYXD32	1.001	0.002
		F Accumulating	GBP	UK	BMYXQ55	1.009	0.001
		Y Accumulating	GBP	UK	BMYXQ55	1.009	0.001

Dividend Rates

Funds paying monthly dividends

JOHCM Global Income Builder Fund

Share class	03/22	04/22	05/22	06/22	07/22	08/22	09/22	10/22	11/22	12/22
A GBP	0.3251	0.3709	0.3481	0.3848	0.3507	0.3439	0.3982	0.3509	0.3193	0.3826
A EUR	0.3443	0.3889	0.3655	0.3990	0.3571	0.3622	0.4055	0.3547	0.3277	0.3935
A USD	0.0349	0.3634	0.3242	0.3611	0.3151	0.3128	0.3431	0.2930	0.2750	0.3469
A SGD	0.3256	0.3641	0.3321	0.3661	0.3248	0.3189	0.3548	0.3107	0.2865	0.3482
B EUR	0.3306	0.3731	0.3503	0.3820	0.3416	0.3462	0.3872	0.3385	0.3124	0.3748
Seed GBP	0.3416	0.3470	0.3262	0.3562	0.3189	0.3619	0.4193	0.3695	0.3364	0.4031

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	Q2 20	Q3 20	Q4 20	Q1 21	Q2 21	Q3 21	Q4 21	Q1 22	Q2 22	Q3 22
A distributing GBP	1.1154	1.2632	1.0771	1.1681	2.3283	3.0863	1.2881	1.9828	3.4453	3.1410
A accumulating GBP	2.2958	2.6218	2.2581	2.4649	4.9447	6.6368	2.8152	4.3509	7.6541	7.1149
B distributing GBP	1.0379	1.1739	0.9997	1.0825	2.1559	2.8539	1.1897	1.8271	3.1746	2.8895
B accumulating GBP	2.1395	2.4391	2.0980	2.2869	4.5836	6.1431	2.6020	4.0228	7.0604	6.5526
Y distributing GBP	0.7534	0.8514	0.7263	0.7879	1.5709	2.0833	0.8697	1.3383	2.3274	2.1211
Y accumulating GBP	0.9242	1.0570	0.5363	0.9944	1.9953	2.6787	1.1364	1.7602	3.0924	2.8757

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

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Emerging Markets Spotlight

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Emerging Markets Spotlight

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Emerging Markets Spotlight

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Emerging Markets Spotlight

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28 Jan 2022
Emerging Markets Spotlight

James Syme takes a look at recent commodity price moves and describes how the portfolio is positioned to benefit.
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20 Dec 2021
Emerging Markets Spotlight

The opportunity within emerging markets is more compelling than the opportunity of emerging markets.
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Emerging Markets Spotlight

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11 Oct 2021
What a China-Taiwan conflict could mean for stocks

James Syme, manager of the JOHCM Global Emerging Markets Opportunities fund, takes a look back at how geopolitics have historically impacted stock markets.
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13 Sep 2021
Emerging Markets Spotlight

There has been substantial commentary around the changing regulatory environment in China, but is this overshadowing the economic data?
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Emerging Markets Spotlight

Pandemic policies and the implications for emerging market investors.
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Webcasts & Videos

JOHCM Global Emerging Markets Opportunities Fund Q4 2021 Update

24 Jan 2022 | 21 mins
JOHCM Global Emerging Markets Opportunities Fund Q3 2021 Update

26 Oct 2021 | 20 mins
JOHCM Global Emerging Markets Opportunities Fund Q2 2021 Update

15 Jul 2021 | 21 mins
JOHCM Global Emerging Markets Opportunities Fund Q1 2021 Update

22 Apr 2021 | 20 mins

James Syme

Senior Fund Manager
Paul Wimborne

Senior Fund Manager
Ada Chan

Fund Manager

This is a marketing communication.

Information on the rights of investors can be found here.

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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).