JOHCM Global Income Builder Fund

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Fund Description

The JOHCM Global Income Builder Fund is a multi-asset portfolio that aims to provide an attractive and persistent stream of income along with long-term capital growth to preserve purchasing power. As of 1 January 2021, the Fund intends to make distributions to shareholders of 4% of net asset value per annum, with distributions made on a monthly basis.

 
Investment Strategy

The Fund is managed by JOHCM’s New York-based Multi-Asset Value team, which includes Senior Fund Managers Giorgio Caputo, Robert Hordon and Adam Gittes and Analysts Remy Gicquel and Hugues Le Bras. Giorgio and Robert were most recently employed by First Eagle Investment Management where they partnered to help the firm develop and launch its Global Income Builder strategy, which included the First Eagle Amundi Income Builder Fund. 

In contrast to most top-down approaches to multi-asset investing, this experienced team employs a differentiated bottom-up approach to investing across asset classes. The team follows a 'value' philosophy that focuses first and foremost on the protection and preservation of capital by investing with a margin of safety. The Fund typically holds 30% - 70% in equities, with the balance invested in fixed income, commodities and cash.

  • Giorgio Caputo

    Senior Fund Manager & Head of Multi-Asset Value

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  • Robert Hordon

    Senior Fund Manager

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  • Adam Gittes

    Senior Fund Manager & Head of Credit

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  • Rémy Gicquel

    Analyst

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  • Hugues Le Bras

    Analyst

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

 

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Investment Objective

The objective of the Fund is to offer regular income generation consistent with long termcapital growth. To achieve this objective the Fund will apply an investment process based on fundamental analysis (i.e. a method of evaluating the “intrinsic value” of a security by examining related economic, financial and other qualitative and quantitative factors).

The Fund seeks to achieve its investment objective by applying a bottom-up, long-term global value investing philosophy across a variety of asset classes as further detailed below. In a bottom-up approach, companies and securities are researched and chosen individually rather than on the industry in which that company operates or on the economy as a whole. The Fund will invest in a wide range of equity securities of companies located in multiple countries around the world with a focus on shares which offer an attractive dividend yield (generally two percent or higher). The Fund will invest in a wide range of fixed income instruments securities from markets in multiple countries around theworld such as high-yield instruments debt-securities (commonly referred to as ‘‘junk bonds’’), investment grade instruments debt securities and sovereign debt securities.

Fund details

Data as at 31 August 2021
Fund size GBP 130.14m
Strategy size GBP 197.07m (as at 30 June 2021)
Fund inception date 30 April 2018
Domicile Ireland
Denomination GBP, USD, EUR, SGD
Share classes
A GBP (Launch date) 30-April-2018
A EUR (Launch date) 30-April-2018
A USD (Launch date) 04-April-2019
A SGD (Launch date) 04-April-2019
B EUR (Launch date) 30-April-2018
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 IE00BFZWPC28 BFZWPC2
A EUR IE00BFZWPD35 BFZWPD3
A USD IE00BFZWPF58 BFZWPF5
A SGD IE00BFZWPG65 BFZWPG6
B EUR IE00BFZWPJ96 BFZWPJ9

Fees and charges

Initial charge Up to 5%
Annual mgmt charge (A) 0.65%
Annual mgmt charge (B) 1.75%
Performance fee
Trail Commission as at 31 March 2021

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.

 

Strategy Highlights

As at 31 August 2021

When rates are low (and probably going up) and spreads are about as skinny as they have ever been, where does a credit investor go to make returns?  Returns driven solely by holding a credit instrument to maturity are likely to lack luster if interest rates do rise – that’s why we have recommended keeping durations short.  Fortunately, we have a playbook for finding excess returns in a low yield environment: we look for value-driving events. Over the years we have accumulated a few areas for hunting. Here we describe a few of them:

  1. Realisation of Organic Credit Improvement - This is the most common way credit investors look to outperform.  Find a company whose credit metrics are improving, either because cash flow is growing faster than the debt, debt is getting paid down, or (most commonly) because they are about to get upgraded by the ratings agencies.  The search for yield in 2021 by many market participants has focused on trying to find those “rising stars” which are likely to get upgraded from high yield to investment grade. The resulting technical demand for those bonds by managers limited to investment grade issuers is often enough to move bond prices substantially. 
     
  2. Early Debt Redemption – Many high yield bonds are callable before maturity. Typically, there is a schedule of fixed premiums the company must pay starting with the first call date a few years after the issue date (usually with descending premium every year thereafter).  However, before this schedule kicks in, the company is able to prepay the bonds at a price that equates to a fixed spread (often 30-50bps depending on the specific contract) over the relevant treasury security to the earliest call date.  This price can be expensive and a company is usually incentivized to call the bond early only if they can issue new debt to refinance the old debt at a substantial interest savings that is enough to outweigh the large penalty.  Given that high yield coupons are near all-time lows, this math works on early redemption more commonly now than in the past.  We have assembled an allocation of high coupon bonds with relatively near-term call dates where it is likely in the company’s interest to pay the extra “make-whole” premium by calling the bonds early.  
     
  3. Convertible bonds – a strong economy is likely to drive rates higher, but it is also likely to drive stock prices higher.  We are always searching for convertible bonds with attractive yields issued by strong credits where the stock is significantly (though not impossibly) out of the money.  If we can find one of these where we think the equity is mispriced, even better.  While this type of security is always an important hunting ground for us, it is especially so during market environments like we have today.
     
  4. M&A – The world of event-driven investing is permeated with managers attempting to identify companies who may unlock strategic value through corporate actions: spin-offs, mergers, and acquisitions are just a few of the most common transactions. Often there are significant opportunities to capitalize on these same events in the credit market, though many event-driven investors are more focused on the equity side of the ledger. Our team has substantial experience in the event-driven space and we are constantly in search of good credits that have not priced in the optionality of any such event.

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.

 

KIIDs
(Key Investor Information Documents)

A GBP A EUR A USD A SGD
B EUR B USD B SGD B B-Hedge EUR
xx GBP xx EUR xx Hedge EUR xx Hedge EUR Seed xx Seed GBP
xx Seed EUR xx Seed

 

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.

 

Return history(%)

Data as at 31 August 2021
  • Fund
  • MSCI World NR

Monthly returns (%)

Data as at 31 August 2021
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Since inception
Fund 2018 1.50 0.33 1.49 0.93 -0.36 -1.58 0.76 -3.29 -0.32
MSCI World NR 2018 4.16 0.74 3.79 2.17 0.23 -5.44 1.28 -7.44 -1.13
Fund 2019 2.63 1.00 2.18 3.26 0.83 3.30 4.75 -0.79 0.23 -3.37 1.18 -0.72 15.17
MSCI World NR 2019 4.35 1.87 3.42 3.50 -2.54 5.56 4.46 -1.51 0.93 -2.34 2.82 0.57 22.74
Fund 2020 -0.03 -3.08 -6.29 6.86 2.20 1.18 -2.64 0.62 1.08 -3.39 5.53 -0.74 0.53
MSCI World NR 2020 -0.11 -5.52 -10.62 9.04 6.95 2.70 -1.36 4.57 -3.08 9.23 1.81 12.32
Fund 2021 -0.66 -0.28 4.32 2.20 0.42 1.35 0.08 2.21 9.94 26.88
MSCI World NR 2021 -1.44 0.74 4.71 4.29 -0.82 4.04 1.14 3.54 17.14 59.67

Source and notes

JOHCM. NAV of Share Class A in GBP, net income reinvested, net of fees. The A GBP Class was launched on 30 April 2018. 

The Fund’s objective is to offer monthly income generation consistent with long-term capital growth. In order to make monthly distributions, all or part of fees and expenses may be charged to the capital of the Fund. By charging the fees and/or expenses to capital, capital may be eroded and income will be achieved by foregoing the potential for future capital growth. The annual management charge is charged to the capital of the Fund.

Disclaimer

Past performance is no guarantee of future performance. The value of investments and the income from them may go down as well as up and you may not get back your original investment. The information contained herein including any expression of opinion is for information purposes only and is given on the understanding that it is not a recommendation.
 

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

 

Fund statistics

Data as at 31 August 2021
Fund size GBP 130.14m
Number of holdings 144

Top 10 holdings

Data as at 31 August 2021
Equities
MICROSOFT CORP 1.71%
FACEBOOK A 1.61%
Alphabet 1.55%
JPMORGAN CHASE & CO 1.45%
ENEL 1.40%
SAINT-GOBAIN 1.33%
LINDE (NEW) 1.31%
CRH 1.26%
NESTLE 1.26%
TRUIST FINANCIAL CORP 1.25%
Fixed Income
CCO Holdings LLC 4.0% 1 MAR 23 1.57%
Advantage Sales&Mkting 15NOV28 1.48%
OI European 4.0% 15 MAR 23 1.02%
TripAdvisor 7.0% 15 JUL 25 0.89%
JPM Depo Fix/Fltg Perp Pfd 0.89%
Fastly 0.0% 15 MAR 26 0.89%
Enel SpA 8.75% 24 SEP 73 0.81%
Videotron Ltee 5.125% 15APR27 0.77%
Alteryx 1.0% 01 AUG 26 0.74%
Spotify USA 0.0% 15 MAR 26 0.71%

Sector breakdown

Data as at 31 August 2021
Equities
Financials 13.07%
Information Technology 11.50%
Consumer Staples 6.64%
Real Estate 6.17%
Health Care 6.07%
Communication Services 5.39%
Consumer Discretionary 5.38%
Energy 4.37%
Materials 3.95%
Industrials 3.33%
Utilities 2.96%
Fixed income
Communication Services 9.37%
Financials 2.37%
Consumer Discretionary 2.23%
Information Technology 1.98%
Industrials 1.73%
Materials 1.52%
Real Estate 1.16%
Utilities 0.81%
Health Care 0.58%
Energy 0.49%
Consumer Staples 0.06%
Sovereign 0.00%

Regional / Country breakdown

Data as at 31 August 2021
Equities
Equities Portfolio
ss United States 45.73%
ss Italy 8.32%
ss Switzerland 8.07%
ss France 8.02%
ss United Kingdom 5.82%
ss Germany 5.17%
ss Hong Kong 2.44%
ss Spain 2.39%
ss Japan 2.30%
ss Ireland 1.84%
ss Singapore 1.82%
ss Netherlands 1.69%
ss South Africa 1.61%
ss Taiwan 1.45%
ss South Korea 1.28%
ss Norway 1.02%
ss Chile 0.59%
ss Portugal 0.43%
Fixed income
Fixed income Portfolio
United States 84.04%
Netherlands 4.60%
France 3.99%
Italy 3.63%
Canada 3.45%
Bermuda 0.29%

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

 

Fund

As at noon Share class Currency Domicile Sedol number NAV per share Change
JOHCM Asia ex Japan Fund 23/09/2021 A EUR Ireland B431KK7 2.852 0.019
A GBP Ireland B3RQ272 2.897 0.008
A USD Ireland B435PM6 2.477 0.014
B EUR Ireland B5L49R5 2.881 0.018
B GBP Ireland B3ZQS76 2.841 0.005
B USD Ireland BF7NZT0 2.507 0.011
Z GBP Ireland B44PG77 2.063 0.004
Z USD Ireland BVG7681 1.661 0.009
JOHCM Asia ex Japan Small and Mid Cap Fund 23/09/2021 A EUR Ireland B6R5VD9 2.759 0.055
A GBP Ireland B6R5LS4 3.117 0.050
A USD Ireland B6R5QW3 2.831 0.053
B EUR Ireland B6R5HM0 3.121 0.064
B GBP Ireland B6R63P8 3.042 0.049
B USD Ireland B6R5YM9 2.701 0.051
Z GBP Ireland B4X3T62 2.362 0.038
JOHCM Continental European Fund 23/09/2021 A EUR Ireland 3300923 4.525 0.058
A GBP Ireland 3300912 5.553 0.047
A USD Ireland BJ4G0G2 1.760 0.022
A Hedged GBP Ireland BSJCJ49 1.532 0.019
B EUR Ireland 3300901 4.549 0.059
B GBP Ireland 3100543 5.346 0.045
B USD Ireland BJ4G0H3 1.791 0.023
Y EUR Ireland B98YKX9 1.744 0.023
Y GBP Ireland B993PD0 2.046 0.018
Y Hedged GBP Ireland BSJCJ50 1.601 0.020
JOHCM European Concentrated Value Fund 23/09/2021 A EUR Ireland BW0DJY9 1.154 0.006
B EUR Ireland BW0DJZ0 1.146 0.006
Z AUD Ireland BYNJFM8 1.343 0.001
Z EUR Ireland BYNJFN9 1.065 0.006
JOHCM European Select Values Fund 23/09/2021 A EUR Ireland 3290433 3.943 0.017
A GBP Ireland 3290422 6.070 0.000
B EUR Ireland 3290411 2.635 0.011
B GBP Ireland 3290400 5.550 0.000
Non-Distributing EUR Ireland BSFWK51 1.461 0.006
X EUR Ireland B4K14L9 1.884 0.008
Y EUR Ireland BMXC8L3 1.060 0.004
JOHCM Global Emerging Markets Opportunities Fund 23/09/2021 A EUR Ireland B3ZBLW7 1.651 0.016
A GBP Ireland B4002N4 1.503 0.008
A USD Ireland B4M6CN0 1.326 0.011
B EUR Ireland B4TRCR0 1.628 0.016
B GBP Ireland B41RZ57 1.443 0.008
B USD Ireland B4XXMP2 1.728 0.014
Y GBP Ireland BYSGJY4 1.812 0.010
Y USD Ireland BYSGJZ5 1.615 0.014
Z CAD Ireland BBPK0L2 1.770 0.002
Z GBP Ireland B6R54W9 1.899 0.010
JOHCM Global Income Builder Fund 23/09/2021 A EUR Ireland BFZWPD3 1.108 0.004
A GBP Ireland BFZWPC2 1.076 0.001
A SGD Ireland BFZWPG6 1.092 0.001
A USD Ireland BFZWPF5 1.097 0.004
B EUR Ireland BFZWPJ9 1.070 0.006
Seed EUR Ireland BKF2GH9 0.987 0.004
Seed GBP Ireland BFZWPH7 1.128 0.001
Seed GBP Ireland BHR0DJ1 1.121 0.001
JOHCM Global Opportunities Fund (offshore) 23/09/2021 A EUR Ireland B7MR557 2.484 0.012
A GBP Ireland B89PQM5 2.246 0.002
A USD Ireland B89JY23 2.295 0.008
A Hedged EUR Ireland BFZWWX2 1.100 0.003
B EUR Ireland B80FZF0 2.280 0.011
B GBP Ireland BF7NZS9 2.466 0.002
B USD Ireland B8295C7 2.178 0.007
X EUR Ireland BJ5JW42 1.133 0.006
X EUR Ireland BMCZLF8 1.215 0.006
X GBP Ireland BQVC9L0 1.918 0.001
X Hedged GBP Ireland BF29TX5 1.183 0.004
Z EUR Ireland BDZD4M4 1.119 0.005
Z GBP Ireland B83MS15 0.895 0.000
Z GBP Ireland BD6R4D6 1.704 0.001
JOHCM Global Opportunities Fund (onshore) 23/09/2021 A Accumulating GBP UK BJ5JMC0 1.154 0.001
A Accumulating Hedged GBP UK BKDV8G1 1.178 0.004
A Distributing GBP UK BJ5JMD1 1.109 0.001
X Accumulating GBP UK BJ5JMF3 1.123 0.001
X Distributing GBP UK BJ5JMG4 1.107 0.001
JOHCM Global Select Fund 23/09/2021 A GBP Ireland B3DBRN2 4.966 0.010
A USD Ireland B3T31Z2 2.802 0.014
A EUR Ireland B3DBRP4 4.671 0.031
B EUR Ireland B3DBRM1 4.508 0.029
B GBP Ireland B3DBRL0 4.771 0.009
B USD Ireland B5L7L67 3.190 0.016
Z GBP Ireland B3DCMB8 3.598 0.011
Z USD Ireland B4V7J00 3.175 0.019
JOHCM Uk Dynamic Fund 23/09/2021 Y GBP Ireland BDGKPZ4 1.016 0.003
JOHCM UK Dynamic Fund (onshore) 23/09/2021 A Accumilating GBP UK B4T7HR5 2.801 0.008
A Distributing GBP UK B4T8552 1.957 0.005
B Accumulating GBP UK B4T7JX5 3.105 0.009
B Distributing GBP UK B4TXJ33 1.778 0.005
X Accumulating GBP UK BJ7HNB8 1.092 0.003
X Distributing GBP UK BJ5JMB9 1.020 0.003
Y GBP UK BDZRJ21 1.228 0.003
Y Accumulating GBP UK BDZRJ10 1.616 0.004
JOHCM UK Equity Income Fund 23/09/2021 A Accumulating GBP UK B03KR50 4.178 0.019
A Distributing GBP UK B03KP23 1.943 0.009
B Accumulating GBP UK B03KR83 3.865 0.017
B Distributing GBP UK B03KR61 1.796 0.008
X Distributing GBP UK BYV9S21 0.969 0.004
Y GBP UK B95FCK6 1.312 0.006
Y Accumulating GBP UK B8FCHK5 1.687 0.008
JOHCM UK Growth Fund 23/09/2021 A GBP Ireland 3300934 4.234 0.019
B GBP Ireland 3100554 3.674 0.017
Non-distributing EUR Ireland BLLV8D7 2.297 0.020
Non-distributing USD Ireland BLLV8C6 2.504 0.019
X GBP Ireland BLLV893 2.118 0.011
X USD Ireland BLLV871 2.515 0.019
X EUR Ireland BLLV882 2.307 0.020
X EUR Ireland BLLV8B5 2.138 0.010
JOHCM UK Opportunities Fund 23/09/2021 A Accumulating GBP UK B0LLB64 3.336 0.000
A Distributing GBP UK B3K76Q9 2.191 0.000
B Accumulating GBP UK B0LLB75 3.100 0.001
B Distributing GBP UK B3K76P8 2.064 0.000
X Accumulating GBP UK BQJZQQ5 1.535 0.000
X Distributing GBP UK B95MSF4 1.242 0.000
Y GBP UK B95J5C1 1.475 0.000
Y Accumulating GBP UK B95HP81 1.867 0.001
Regnan Global Equity Impact Solutions Fund (offshore) 23/09/2021 A EUR Ireland BN2BD91 1.066 0.011
A GBP Ireland BN2BD80 1.025 0.006
A USD Ireland BN2BDC4 1.032 0.009
A Hedged EUR Ireland BN2BDB3 1.029 0.009
B EUR Ireland BN2BDF7 1.062 0.012
B GBP Ireland BN2BDD5 1.021 0.006
B USD Ireland BN2BDH9 1.028 0.010
B Hedged EUR Ireland BN2BDG8 1.018 0.010
Seed EUR Ireland BN2BDS0 1.074 0.011
Seed GBP Ireland BN2BDR9 1.033 0.007
Seed USD Ireland BN2BDV3 1.039 0.010
Seed Hedge EUR Ireland BN2BDT1 1.030 0.009
Z GBP Ireland BN2BDN5 1.029 0.006
Regnan Global Equity Impact Solutions Fund (onshore) 23/09/2021 A Accumulating GBP UK BMCZDD0 1.200 0.007
A Accumulating Hedged GBP UK BMCZDJ6 1.207 0.007
Y Accumulating GBP UK BMCZDK7 1.202 0.008
Regnan Sustainable Water and Waste Fund (onshore) 23/09/2021 A Accumulating GBP UK BMYXD32 0.982 0.001
F Accumulating GBP UK BMYXQ55 0.982 0.000
Y Accumulating GBP UK BMYXQ55 0.982 0.000

Dividend Rates

Funds paying monthly dividends

JOHCM Global Income Builder Fund

Share class 09/20 10/20 11/20 12/20 01/21 02/21 03/21 04/21 05/21 06/21 07/21 08/21
A  GBP 0.3871 0.4592 0.4016 0.4363 0.4312 0.3200 0.3071 0.3763 0.3485 0.3257 0.3877 0.3516
A EUR 0.3838 0.4431 0.3928 0.4289 0.4233 0.3205 0.3138 0.3899 0.3555 0.3336 0.3978 0.3638
A USD   0.3885 0.4393 0.3865 0.4335 0.4393 0.3270 0.3191 0.3864 0.3605 0.3443 0.3985 0.3651
A SGD  0.3895 0.4425 0.3899 0.4296 0.4274 0.3217 0.3140 0.3844 0.3558 0.3364 0.3965 0.3644
B EUR 0.3745 0.4319 0.3826 0.4174 0.4115 0.3114 0.3046 0.3781 0.3444 0.3229 0.3847 0.3515
Seed 0.3402 0.3929 0.3484 0.3806 0.3757 0.2846 0.2787 0.3464 0.3160 0.2966 0.3538 0.3237

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 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21
A distributing GBP 2.0957 3.6523 2.7970 2.0409 1.5930 1.1154 1.2632 1.0771 1.1681 2.3283
A accumulating GBP 4.0293 7.1000 5.5449 4.1082 3.2391 2.2958 2.6218 2.2581 2.4649 4.9447
B distributing GBP  1.9597 3.4124 2.6093 1.9017 1.4790 1.0379 1.1739 0.9997 1.0825 2.1559
B accumulating GBP 3.7777 6.6508 5.1861 3.8367 3.0210 2.1395 2.4391 2.0980 2.2869 4.5836
Y distributing GBP 1.4102 2.4582 1.8832 1.3744 1.0730 0.7534 0.8514 0.7263 0.7879 1.5709
Y accumulating GBP 1.6220 2.8588 2.2334 1.6547 1.3051 0.9242 1.0570 0.5363 0.9944 1.9953

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 2020 and pay date of 28 February 2021.


JOHCM Asia ex Japan Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2021 pence per share 0.0000
A EUR 28 Feb 2021 cents per share 0.0000
A USD 28 Feb 2021 cents per share 0.0000
B GBP 28 Feb 2021 pence per share 0.0000
B EUR 28 Feb 2021 cents per share 0.0000
B USD 28 Feb 2021 cents per share 0.0000
Z GBP 28 Feb 2021 cents per share 1.3082
Z USD 28 Feb 2021 cents per share 1.0517

JOHCM Asia ex Japan Small and Mid Cap Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2021 pence per share 0.0174
A EUR 28 Feb 2021 cents per share 0.0000
A USD 28 Feb 2021 cents per share 0.0000
B GBP 28 Feb 2021 pence per share 0.0000
B EUR 28 Feb 2021 cents per share 0.0000
B USD 28 Feb 2021 cents per share 0.0000
Z GBP 28 Feb 2021 cents per share 0.5072

JOHCM Concentrated Global Share Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2021 pence per share 0.4259

JOHCM Continental European Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2021 pence per share 5.8996
A EUR 28 Feb 2021 cents per share 4.5760
A - hedge GBP 28 Feb 2021 pence per share 1.5657
B GBP 28 Feb 2021 pence per share 3.5824
B EUR 28 Feb 2021 cents per share 2.9017
B - hedge USD 28 Feb 2021 cents per share 0.7325
Y GBP 28 Feb 2021 pence per share 2.3739
Y - hedge GBP 28 Feb 2021 pence per share 1.7895
Y EUR 28 Feb 2021 cents per share 1.9265

JOHCM European Select Values Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2021 pence per share 5.8627
A EUR 28 Feb 2021 cents per share 3.6253
B GBP 28 Feb 2021 pence per share 3.1469
B EUR 28 Feb 2021 cents per share 1.4223

JOHCM European Concentrated Value Fund

Share class Currency Pay date Dividend paid in Dividend rate
A EUR 28 Feb 2021 cents per share 1.0427
B USD 28 Feb 2021 cents per share 0.7018
B EUR 28 Feb 2021 cents per share 0.5797
Z EUR 28 Feb 2021 cents per share 1.5956

JOHCM Global Emerging Markets Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2021 pence per share 1.6723
A EUR 28 Feb 2021 cents per share 1.7483
A USD 28 Feb 2021 cents per share 1.4737
B GBP 28 Feb 2021 pence per share 0.8550
B EUR 28 Feb 2021 cents per share 0.9178
B USD 28 Feb 2021 cents per share 1.0224
Y GBP 28 Feb 2021 pence per share 2.2520
Y USD 28 Feb 2021 cents per share 2.0030
Z GBP 28 Feb 2021 cents per share 3.5880

JOHCM Global Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2021 pence per share 4.7894
A EUR 28 Feb 2021 cents per share 5.0441
A USD 28 Feb 2021 cents per share 4.8886
B GBP 28 Feb 2021 pence per share 5.3099
B EUR 28 Feb 2021 cents per share 4.6750
B USD 28 Feb 2021 cents per share 4.6865
A - hedged EUR 28 Feb 2021 cents per share 2.2077
X GBP 28 Feb 2021 cents per share 4.0923
Z GBP 28 Feb 2021 cents per share 1.8925
X - hedged GBP 28 Feb 2021 cents per share 2.3159
X EUR 28 Feb 2021 cents per share 2.2293

JOHCM Global Select Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2021 pence per share 0.0000
A EUR 28 Feb 2021 cents per share 0.0000
A USD 28 Feb 2021 cents per share 0.0000
B GBP 28 Feb 2021 pence per share 0.0000
B EUR 28 Feb 2021 cents per share 0.0000
B USD 28 Feb 2021 cents per share 0.0000
Z GBP 28 Feb 2021 cents per share 2.1310


JOHCM UK Dynamic Fund

Share class Currency Pay date Dividend paid in Dividend rate
A - distributing GBP 28 Feb 2021 pence per share 4.5474
A - accumulating GBP 28 Feb 2021 pence per share 6.3294
B - distributing GBP 28 Feb 2021 pence per share 4.1566
B - accumulating GBP 28 Feb 2021 pence per share 7.0581
Y - distributing GBP 28 Feb 2021 pence per share 2.8496
Y - accumulating GBP 28 Feb 2021 pence per share 3.6465
Y GBP 28 Feb 2021 pence per share 2.2768

JOHCM UK Growth Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2021 pence per share 2.2139
B GBP 28 Feb 2021 pence per share 0.6152
X GBP 28 Feb 2021 pence per share 0.3146

JOHCM UK Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A - distributing GBP 28 Feb 2021 pence per share 4.7354
A - accumulating GBP 28 Feb 2021 pence per share 7.0433
B - distributing GBP 28 Feb 2021 pence per share 4.4936
B - accumulating GBP 28 Feb 2021 pence per share 6.5893
Y - accumulating GBP 28 Feb 2021 pence per share 3.9303
Y - distributing GBP 28 Feb 2021 pence per share 3.1829

 

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

  • 19 Sep 2021

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    When rates are low (and probably going up) and spreads are about as skinny as they have ever been, where does a credit investor go to make returns?

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  • 01 Aug 2021

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  • 24 Jun 2021

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  • 18 May 2021

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  • 06 Apr 2021

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  • 02 Nov 2020

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  • 28 Jul 2020

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  • 28 Jul 2020

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  • 28 Jul 2020

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  • 07 Apr 2020

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    Q1 review: In the midst of chaos, there is also opportunity.

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  • 26 Mar 2020

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    Stranger things - what's happening in the investment grade corporate debt market?

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  • 15 Mar 2020

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  • 05 Mar 2020

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    Falling knives, iron gloves and The Shawshank Redemption: thoughts on the coronavirus from the JOHCM Multi-Asset Value team. 

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  • 05 Mar 2020

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    Falling knives, iron gloves and The Shawshank Redemption: thoughts on the coronavirus from the JOHCM Multi-Asset Value team. 

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  • 13 Feb 2020

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    The JOHCM Global Income Builder team review the final quarter of 2019 and provide their thoughts for the year ahead.

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  • 13 Feb 2020

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    The JOHCM Global Income Builder team review the final quarter of 2019 and provide their thoughts for the year ahead.

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  • 13 Feb 2020

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    The JOHCM Global Income Builder team review the final quarter of 2019 and provide their thoughts for the year ahead.

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  • 11 Dec 2019

    Global Value & Income Dispatch

    Don't pay too much attention to the default rate. It's rating migration that matters. 

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  • 14 Nov 2019

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  • 17 Sep 2019

    Global Value & Income Dispatch

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  • 31 Jul 2019

    Global Value and Income Dispatch

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  • 26 May 2019

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    The JOHCM Global Income Builder Fund, which recently celebrated its first anniversary, aims to provide an attractive and persistent stream of income along with capital growth while investing with a margin of safety.

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Webcasts & Videos

  • Coronavirus: life after lockdown – what’s next for the global economy?

    02 Jun 2020 | 64 mins

  • JOHCM Global Income Builder Fund Q1 2020

    15 Apr 2020 | 36 mins

  • Coronavirus - understanding the disruption, navigating the market correction

    02 Mar 2020 | 44 mins

  • Introduction to the JOHCM Global Income Builder Fund

    07 Aug 2018 | 6 mins

  • Giorgio Caputo

    Senior Fund Manager & Head of Multi-Asset Value

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  • Robert Hordon

    Senior Fund Manager

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  • Adam Gittes

    Senior Fund Manager & Head of Credit

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  • Rémy Gicquel

    Analyst

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  • Hugues Le Bras

    Analyst

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

 

Back

Environmental and Social Characteristics

Amongst other characteristics, the Fund promotes environmental and social characteristics and invests in companies that apply good corporate governance.  JOHCM Funds (Ireland) Limited, the Fund’s manager, has therefore categorised the Fund as meeting the provisions set out in Article 8 of EU Regulation 2019/2088 on sustainability-related disclosures in the financial services sector (“SFDR”).  

In addition to investing in issuers which meet the Fund’s financial criteria, J O Hambro Capital Management Limited (“Investment Manager”) seeks investment opportunities in durable businesses that it considers to be well-adapted to the regulatory and social landscape of the future. In the Investment Manager’s view, such businesses are those which do not undermine, if not advance, the achievement of the UN’s Sustainable Development Goals. 

The Fund will also seek to help companies improve on Environmental, Social and Governance (“ESG”) issues and encourage their continuous improvement by engaging in dialogue with them on a regular basis and highlighting specific areas of improvement which will be monitored over time. The team believes this approach will be additive to the fund’s financial objectives of regular income generation and long-term capital growth. 

The Fund is climate aware and seeks to reduce the Fund’s exposure to sectors causing adverse environmental impacts. 

In order to achieve such characteristics within the Fund, it applies exclusions to the selection of underlying assets as part of its investment decision-making process. The issuer of a security is considered “non-sustainable” if it does not meet one of these ESG key performance indicators, including non-compliance with the UN Global Compact. 

The Investment Manager excludes companies which derive 10% or more of their revenue from pornography, manufacture of controversial weapons (such as landmines and cluster munitions) or tobacco production, and companies with majority of revenues from oil sands production. 

Additionally, the Investment Manager relies on ESG scores and its own proprietary dashboard to assess and monitor its investments and seeks to exclude the businesses that it believes to be in the lowest quintile of ESG related risk factors across the fund’s global, all-cap investment universe (a “best-in-universe” approach). This criterion serves as a first filter. The Investment Manager then uses its own internal assessments as well as a third-party provider data in its ESG assessment process which results in a numerical score assigned to each issuer. The ESG scoring criterion will be applied to at least 90% of the issuers in which the Fund is invested. The Investment Manager then further reduces the universe by taking non-financial criteria into consideration before performing a financial analysis and further ESG-related analysis in an integrated fashion, leading to the construction and management of the portfolio.    These selection criteria may not be disapplied or overridden by the Investment Manager.  In order to measure and monitor the environmental characteristics of the Fund, the Investment Manager incorporates climate-related ESG risks into valuation and construction. The Investment Manager then monitors the carbon footprint and other climate-related data of the portfolio and keeps track of current high carbon emitters and whether they have committed to align with the 2015 Paris Agreement. 

For the social characteristics of the Fund, the Investment Manager will review whether investee companies have implemented appropriate policies and structures to support sustainable business practices in relation to their employees, customers and supply chain.   

Governance

Investee companies must follow good governance practices. This requires investee companies to adhere to minimum standards in various areas including sound management structures, employee relations, remuneration of staff and tax compliance. The Investment Manager is a signatory to the UK Stewardship Code 2012, is requesting to be a signatory to the UK Stewardship Code 2020 (together the “Code”) and is a signatory to the UN Principles for Responsible Investment (the “UNPRI”). As a signatory to the Code and the UNPRI, the good governance practices of investee companies are assessed by the Investment Manager prior to making an investment and periodically thereafter. 

Periodic Reports

A description of the extent to which environmental and social characteristics are met will be available as part of the annual report which will be published on this website once available. The Fund’s most recent annual report does not include any information pursuant to SFDR.  

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