JOHCM Global Emerging Markets Opportunities Fund

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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

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  • Paul Wimborne

    Senior Fund Manager

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  • Ada Chan

    Fund Manager

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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.

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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.

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.

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.

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.

KIIDs
(Key Investor Information Documents)

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

 

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.

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

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. 
 

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.

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%

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.

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 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 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

  • 11 Nov 2022

    Why We Like Brazil

    Inflation under control, positive economic growth, valuations at half their long-term

    Read More
  • 03 Nov 2022

    China’s Political Disorder

    Given four good reasons to be cautious on China, and only one positive, the walk back to a turn in the equity market may be long one

    Read More
  • 08 Oct 2022

    Expect the Unexpected

    In 2022, the impact of the strong dollar has been very different to what history suggests

    Read More
  • 06 Sep 2022

    Emerging Markets Spotlight

    Rejection of a left-wing constitution reduces risk for equity investors in Chile, but economic problems remain an obstacle

    Read More
  • 10 Aug 2022

    Emerging Markets Spotlight

    Energy exporters, or those with relative energy stability, show signs of prospering 

    Read More
  • 05 Jul 2022

    Emerging Markets Spotlight

    The good news from China ... and the bad

    Read More
  • 18 Jun 2022

    Emerging Markets Spotlight

    Inflation is not all bad news in emerging markets

    Read More
  • 13 May 2022

    Emerging Markets Spotlight

    Floating exchange rates are likely to limit the impact of rising US rates on emerging markets

    Read More
  • 11 Apr 2022

    Emerging Markets Spotlight

    Rising commodity prices will have a powerful impact on emerging markets, for exporters and for those that import and subsidise the 'Three Fs', food, fuel and fertiliser

    Read More
  • 09 Mar 2022

    Emerging Markets Spotlight

    James Syme and the Emerging Markets Opportunities team look at the new chapter Russia is writing in emerging equity markets

    Read More
  • 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. 

    Read More
  • 20 Dec 2021

    Emerging Markets Spotlight

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

    Read More
  • 18 Nov 2021

    Emerging Markets Spotlight

    We have seen continued high inflation prints across the world, with volatility in interest rate expectations testing the resolve of central banks...

    Read More
  • 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.

    Read More
  • 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?

    Read More
  • 10 Aug 2021

    Emerging Markets Spotlight

    Pandemic policies and the implications for emerging market investors. 

    Read More

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

    small image path
  • Paul Wimborne

    Senior Fund Manager

    small image path
  • Ada Chan

    Fund Manager

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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.

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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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