For fund managers James Syme and Paul Wimborne, 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 and Paul 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
The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.
Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.
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.
15% on excess if Fund outperforms benchmark, calculated daily. Any underperformance carried forward. This fee applies to all share classes.
Administration
Status
UCITS
Investment manager
J O Hambro Capital Management Limited
Transfer agent and registrar
RBC Investor Services Limited
Depositary
RBC Investor Services Limited
The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.
Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.
Strategy Highlights
As at 31 July 2020
As we have previously noted, we believe that growth metrics, and policies designed to support growth, are by far the key data points to track for markets, with stimulative monetary policies and attractive valuations almost everywhere in the emerging world. Without changing that view, though, we note some interesting differences between inflation dynamics in major Latin American countries.
To put the headlines up: Brazilian consumer price inflation, having ended 2019 at a 4.3% year-on-year increase, fell to a 20-year low of 1.9% in May 2020, recovering slightly to 2.1% in June. Mexican consumer price inflation, having ended 2019 at 2.8%, rose to 3.3% by June. Clearly there are some very different dynamics at play here. Why, and what does it mean for investors?
Firstly, both countries have had difficult coronavirus crises. In the two weeks to 3rd August, European Centre for Disease Prevention and Control figures show Brazil third and Mexico sixth globally in terms of total new cases (USA and India, and South Africa and Colombia, hold the other places). In both countries there has been very significant disruption to economic activity. In Brazil, industrial production and retail sales to May were -21.9% and -7.2% respectively; in Mexico those figures were -30.7% and -23.7%.
Historically for both countries, the imported component of inflation has been volatile, driven at times by exchange rate volatility. The Brazilian real fell 28.1% against the US dollar in the first seven months of 2020. The Mexican peso, meanwhile, fell 16.4% against the US dollar in the period.
So, with a deeper slowdown in Mexico (which should have eased demand pressure on prices), and a smaller fall in the currency, why has Mexican inflation proved so sticky? A deeper look into the Mexican data shows a very stable core CPI rate (year-to-date the range has been 3.6%-3.7%, with declines in housing, non-food merchandise and services being offset by significant price pressure in food merchandise). The food, beverages and tobacco price index rose by 6.6% in the year to June, which the central bank attributes to a reallocation of household spending and to disruptions in the supply of certain goods.
One feature of food prices in emerging markets is that spikes up and down are common but typically short-lived as supply and demand adjust quite quickly. Certainly, the expectation of the Mexican central bank and of many observers is that policy interest rates can be cut in the second half of 2020. The deputy governor of the central bank, reporting to Congress a few days ago, said ‘in my personal opinion the cycle hasn't ended (and) that we'll look to take our monetary stance to an expansive level in accordance with the current economic situation’. The central bank has cut rates from 7.25% at the start of the year to 5.0% at the last meeting, with consensus expectations that the rate will fall to 4.2% by the end of the year.
By comparison, Brazilian interest rate cuts may have been front-loaded this year, with a decline from 4.5% to 2.25% so far. The central bank’s monetary policy committee in the minutes of its last meeting said that any additional rate cuts would be ‘small’. Notably, given Brazil’s extremely weak fiscal position, the minutes described current monetary policy as ‘close to the level from which further interest rate reductions could be accompanied by asset price instability.’
There are a number of reasons why we (cautiously) prefer Mexico to Brazil at this time, including Brazil’s difficult coronavirus statistics and extended fiscal deficit, but the outlook for monetary policy in the second half is another.
The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.
Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.
The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.
Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.
Percentage growth of the fund versus benchmark
Data as at 31 July 2020
A GBP share class, since launch (30 June 2011)
Return history (%)
Data as at 31 July 2020
Standardised Performance
Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investing in companies in emerging markets involves higher risk than investing in established economies or securities markets. Emerging Markets may have less stable legal and political systems, which could affect the safe-keeping or value of assets. 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.
Jun 15 - Jun 16
Jun 16 - Jun 17
Jun 17 - Jun 18
Jun 18 - Jun 19
Jun 19 - Jun 20
Fund
2.08%
31.13%
6.23%
5.83%
-3.72%
Monthly returns (%)
Data as at 31 July 2020
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
-2.77
46.93
Benchmark
2020
-3.77
-3.70
-12.29
8.99
1.23
8.44
1.77
-1.03
44.00
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.
The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.
Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.
Fund statistics
Data as at 31 July 2020
Fund size
GBP 325.38m
Number of holdings
50
Top 10 holdings and active weights
Data as at 31 July 2020
Top 10 holdings
Samsung Electronics
8.78%
Tencent
8.12%
Prosus
4.56%
Barrick Gold
4.17%
HDFC Bank
3.60%
SK Telecom
3.51%
Reliance Industries
3.34%
Mediatek
3.21%
ENN Energy Holdings
3.21%
Xinyi Solar
3.04%
Top 10 active weights
Prosus
+4.56%
Samsung Electronics
+4.53%
Barrick Gold
+4.17%
HDFC Bank
+3.60%
SK Telecom
+3.45%
ENN Energy Holdings
+3.05%
Xinyi Solar
+2.97%
Mediatek
+2.63%
HKEx
+2.28%
Longfor Properties
+2.22%
Sector breakdown
Data as at 31 July 2020
Portfolio
Benchmark
Relative
Information Technology
18.98%
18.35%
0.63%
Communication Services
16.09%
13.08%
3.01%
Financials
12.53%
18.10%
-5.57%
Consumer Discretionary
10.87%
18.03%
-7.15%
Real Estate
9.75%
2.45%
7.30%
Materials
7.60%
6.97%
0.62%
Industrials
6.37%
4.51%
1.86%
Consumer Staples
5.60%
6.37%
-0.77%
Energy
5.17%
5.70%
-0.53%
Utilities
3.31%
2.18%
1.13%
Health Care
0.00%
4.27%
-4.27%
Cash
3.74%
0.00%
3.74%
Market cap breakdown
Data as at 31 July 2020
Portfolio
Benchmark
Relative
Large Cap
74.93%
76.69%
-1.77%
Medium Cap
19.46%
23.28%
-3.82%
Small Cap
1.87%
0.03%
1.84%
Cash
3.74%
0.00%
3.74%
The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.
Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.
Net dividends quoted in the local share class currency.
If you require the dividends for previous time periods, please contact RBC directly on 00353 14406555 or by fax on 00353 16131132 (0845 450 1974 and 02077475690 have been disabled).
Funds paying quarterly dividends
JOHCM UK Equity Income Fund
Share class
Q3 18
Q4 18
Q1 19
Q2 19
Q3 19
Q4 19
Q1 20
Q2 20
A distributing GBP
2.7765
1.9368
2.0957
3.6523
2.7970
2.0409
1.5930
1.1154
A accumulating GBP
5.2101
3.6835
4.0293
7.1000
5.5449
4.1082
3.2391
2.2958
B distributing GBP
2.6034
1.8139
1.9597
3.4124
2.6093
1.9017
1.4790
1.0379
B accumulating GBP
4.8980
3.4588
3.7777
6.6508
5.1861
3.8367
3.0210
2.1395
Y distributing GBP
1.8670
1.3028
1.4102
2.4582
1.8832
1.3744
1.0730
0.7534
Y accumulating GBP
2.0960
1.4823
1.6220
2.8588
2.2334
1.6547
1.3051
0.9242
Dividends are quoted and paid in pence per share
XD dates: 31 March, 30 June, 30 September and 31 December Payment dates: 31 May, 31 August, 30 November and 28 February
The quarterly table above shows the last two years net dividends (on a XD rather than a paid basis) for this fund. If you require the dividends for previous time periods, please contact RBC directly on 00353 14406555 or by fax on 00353 16131132 (0845 450 1974 and 02077475690 have been disabled).
Funds paying annual dividends
All funds have a XD date of 31 December 2019 and pay date of 28 February 2020.
JOHCM Asia ex Japan Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
GBP
28 Feb 2020
pence per share
1.8021
A
EUR
28 Feb 2020
cents per share
1.7923
A
USD
28 Feb 2020
cents per share
1.4855
B
GBP
28 Feb 2020
pence per share
0.6266
B
EUR
28 Feb 2020
cents per share
0.0638
B
USD
28 Feb 2020
cents per share
1.6124
JOHCM Asia ex Japan Small and Mid Cap Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
GBP
28 Feb 2020
pence per share
3.1300
A
EUR
28 Feb 2020
cents per share
2.8099
A
USD
28 Feb 2020
cents per share
2.7475
B
GBP
28 Feb 2020
pence per share
1.8821
B
EUR
28 Feb 2020
cents per share
1.9280
B
USD
28 Feb 2020
cents per share
1.6124
JOHCM Concentrated Global Share Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
GBP
28 Feb 2020
pence per share
0.09794
JOHCM Continental European Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
GBP
28 Feb 2020
pence per share
2.4706
A
EUR
28 Feb 2020
cents per share
7.4192
A - hedge
GBP
28 Feb 2020
pence per share
9.0139
B
GBP
28 Feb 2020
pence per share
6.5954
B
EUR
28 Feb 2020
cents per share
5.6691
B - hedge
USD
28 Feb 2020
cents per share
2.1446
Y
GBP
28 Feb 2020
pence per share
3.0314
Y - hedge
GBP
28 Feb 2020
pence per share
2.7274
Y
EUR
28 Feb 2020
cents per share
3.0314
JOHCM European Select Values Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
GBP
28 Feb 2020
pence per share
5.9865
A
EUR
28 Feb 2020
cents per share
3.9287
B
GBP
28 Feb 2020
pence per share
2.9895
B
EUR
28 Feb 2020
cents per share
1.4341
JOHCM European Concentrated Value Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
EUR
28 Feb 2020
cents per share
1.6278
B
USD
28 Feb 2020
cents per share
1.1828
B
EUR
28 Feb 2020
cents per share
1.0740
JOHCM Global Emerging Markets Opportunities Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
GBP
28 Feb 2020
pence per share
3.3106
A
EUR
28 Feb 2020
cents per share
3.6734
A
USD
28 Feb 2020
cents per share
2.8168
B
GBP
28 Feb 2020
pence per share
2.4157
B
EUR
28 Feb 2020
cents per share
2.7523
B
USD
28 Feb 2020
cents per share
2.7885
Y
GBP
28 Feb 2020
pence per share
4.2322
Y
USD
28 Feb 2020
cents per share
3.6147
JOHCM Global Opportunities Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
GBP
28 Feb 2020
pence per share
5.0670
A
EUR
28 Feb 2020
cents per share
5.6662
A
USD
28 Feb 2020
cents per share
4.9928
B
GBP
28 Feb 2020
pence per share
5.6608
B
EUR
28 Feb 2020
cents per share
5.2893
B
USD
28 Feb 2020
cents per share
4.8215
JOHCM Global Select Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
GBP
28 Feb 2020
pence per share
2.8206
A
EUR
28 Feb 2020
cents per share
2.6793
A
USD
28 Feb 2020
cents per share
1.5358
B
GBP
28 Feb 2020
pence per share
0.3902
B
EUR
28 Feb 2020
cents per share
0.3720
B
USD
28 Feb 2020
cents per share
0.2511
JOHCM Japan Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
GBP
28 Feb 2020
pence per share
3.1582
A
EUR
28 Feb 2020
cents per share
2.3586
A
JPY
28 Feb 2020
yen per share
437.0683
A - hedged
GBP
28 Feb 2020
pence per share
2.1461
B
GBP
28 Feb 2020
pence per share
1.9398
B
EUR
28 Feb 2020
cents per share
1.4400
B
JPY
28 Feb 2020
yen per share
271.9972
B - hedged
GBP
28 Feb 2020
pence per share
1.3891
JOHCM UK Dynamic Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A - distributing
GBP
28 Feb 2020
pence per share
8.3375
A - accumulating
GBP
28 Feb 2020
pence per share
1.1143
B - distributing
GBP
28 Feb 2020
pence per share
7.6644
B - accumulating
GBP
28 Feb 2020
pence per share
1.2491
Y - distributing
GBP
28 Feb 2020
pence per share
5.2184
Y - accumulating
GBP
28 Feb 2020
pence per share
6.4131
Y
GBP
28 Feb 2020
pence per share
4.3172
JOHCM UK Growth Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A
GBP
28 Feb 2020
pence per share
7.3614
B
GBP
28 Feb 2020
pence per share
5.0086
JOHCM UK Opportunities Fund
Share class
Currency
Pay date
Dividend paid in
Dividend rate
A - distributing
GBP
28 Feb 2020
pence per share
6.4553
A - accumulating
GBP
28 Feb 2020
pence per share
9.3148
B - distributing
GBP
28 Feb 2020
pence per share
6.1496
B - accumulating
GBP
28 Feb 2020
pence per share
8.7487
Y - accumulating
GBP
28 Feb 2020
pence per share
1.6547
Y - distributing
GBP
28 Feb 2020
pence per share
4.3346
Net dividends quoted in the local share class currency.
If you would like more information, please contact RBC directly on 00353 14406555 or by fax on 00353 16131132 (0845 450 1974 and 02077475690 have been disabled). Email us at oeicdealing@johcm.co.uk.
Views & News
12 Aug 2020
Emerging Markets Spotlight
Observations on some interesting differences between inflation dynamics in major Latin American countries.
Emerging markets and the dollar: why not to be bearish on EM for too long
Many investors have assumed that dollar strength is the new normal, but pressure on the dollar is building. And when the dollar does roll over, the history of EM equities suggests the asset class could deliver very strong returns.
India: our favourite market. James Syme, takes a deep dive into the portfolio’s Indian stocks & reviews recent pressures in the Indian financial system
James Syme, JOHCM Global Emerging Markets Opportunities, outlines the investment case for Russian equities, which have attractions despite the country’s well-documented political and corporate governance issues.
JOHCM Global Emerging Markets Opportunities Fund Q2 2020 Update
16 Jul 2020 | 21 mins
Coronavirus: life after lockdown – what’s next for the global economy?
02 Jun 2020 | 64 mins
JOHCM Global Emerging Markets Opportunities Fund Q1 2020 Update
14 Apr 2020 | 20 mins
Coronavirus - understanding the disruption, navigating the market correction
02 Mar 2020 | 44 mins
James Syme
Senior Fund Manager
Paul Wimborne
Senior Fund Manager
The information provided on this webpage is for professional advisers only. The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware that past performance is no guarantee of future performance.
Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.
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