JOHCM Global Opportunities Fund (offshore) J O Hambro Capital Management (JOHCM)

Fund Description

The JOHCM Global Opportunities Fund is a high conviction, benchmark-unconstrained stock picking fund that invests in both developed and emerging markets. Fund managers Ben Leyland and Robert Lancastle bring to bear the same successful investment philosophy and process that established the JOHCM UK Opportunities Fund as a leading UK equities fund, focusing on companies that are capable of producing compounding growth over the long term.

Investment Strategy

Ben and Robert aim to identify long-term trends and themes and then find undervalued, high quality companies which benefit from these trends and themes
The market persistently underestimates the value created by well-managed companies in growth areas reinvesting wisely
Returns-based absolute valuation approach avoids momentum and relative valuation pitfalls
Strict “sell to zero” discipline: the main risk is holding “bad” shares not missing out on “good” ones

Reasons To Invest

Long-term investment horizon
Proven success of investment philosophy and process in the form of the JOHCM UK Opportunities Fund, on which Ben Leyland served as a fund manager
Portfolio construction unconstrained by artificial index constraints
Capacity constrained to preserve long-term performance

An introduction to the JOHCM Global Opportunities Fund

Ben Leyland

Senior Fund Manager
Robert Lancastle

Senior Fund Manager
Jasmeet Munday

Analyst

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 may invest 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 annual management charge is deducted from the capital of the Fund. This will increase the income from the Fund but may constrain or erode potential for capital growth. 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.

Other Global Equity Funds

JOHCM Global Select Fund

Fund managers Christopher Lees and Nudgem Richyal believe stock markets are inefficient and aim to exploit market anomalies via an investment process that combines both top-down and bottom-up research. Their distinct “4-Dimensional” investment process (stocks, sectors, countries, time/change) focuses on the behaviour of each shar...

JOHCM Global Opportunities Fund (onshore)

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Investment Objective

The investment policy of the Fund is to invest in a portfolio of global equity securities listed on any
Recognised Market. The selection of equity securities will primarily be driven by a cashflow analysis from the perspective of a long-term business owner. At no time will less than 80% of the Fund’s total net assets be invested in such securities. The benchmark of the Fund, for performance fee calculation purposes, will be the Index but the Fund will be managed on an ‘unconstrained basis’ with no restrictions in terms of regional or sector allocation versus this benchmark.

Fund details

Data as at 30 April 2020

Fund size

GBP 380.1m

Strategy size

GBP 2.94bn (as at 31 December 2019)

Benchmark

MSCI AC World NR 12pm adjusted

Domicile

Ireland

Denomination

GBP, EUR, USD

Share classes

A EUR	(Launch date) 29-June-2012
A GBP	(Launch date) 29-June-2012
A USD	(Launch date) 29-June-2012
B EUR	(Launch date) 29-June-2012
B GBP	(Launch date) 29-June-2012
B USD	(Launch date) 29-June-2012

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 EUR	IE00B7MR5575	B7MR557
A GBP	IE00B89PQM59	B89PQM5
A USD	IE00B89JY234	B89JY23
B EUR	IE00B80FZF09	B80FZF0
B GBP	IE00B89JT176	B89JT17
B USD	IE00B8295C79	B8295C7

Fund ratings and awards

Data as at 30 April 2020

Notes

©2019 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 30/11/2019.

Fees and charges

Initial charge	Up to 5%
Annual mgmt charge (A)	0.75%
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

Strategy Highlights

As at 30 April 2020

We are seeing the market split between an ever smaller list of companies which are perceived as offering certainty and growth, and a growing list of companies which look cheap on many backward-looking metrics (albeit less so than in late March) but face profound short-term and possibly also long-term uncertainty, and therefore carry the possibility of elevated share price volatility.

Our challenge is to balance the portfolio between these two extremes – the see-saw analogy is still very much relevant. We are making sure we maintain exposure to “the right kind of value” (i.e. strong balance sheets and sustainable franchises in activity sets which are likely to recover at some point and where the supply side will remain disciplined), whilst balancing it with what might be considered “fairly-valued ballast”, so that the Fund does not become too volatile. Generally speaking, we have more names at lower weights in the former category and fewer names at larger weights in the latter.

The rally in the last 5-6 weeks has started to constrain us a bit in both categories, hence our cash balance has risen again. We currently have around 30% of the portfolio exposed to the ‘eye of the storm’ (e.g. Safran, Compass, TJX) and other cyclicals, 35-40% in resilient non-cyclicals like Oracle, Sanofi and Philip Morris, around 15% in regulated utilities, which performed poorly during the sell-off despite having relatively resilient earnings streams, and 15% in cash.

Fund Reporting

Monthly Portfolio Review

KIIDs
(Key Investor Information Documents)

A GBP	A EUR	A USD	A A-Hedge EUR
B GBP	B EUR	B USD	B B-Hedge EUR
xx X - GBP	xx X - EUR

Percentage growth of the fund versus benchmark

Data as at 30 April 2020

A GBP share class, since launch (29 June 2012)

Return history (%)

Data as at 30 April 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. The annual management charge is deducted from the capital of the Fund. This will increase the income from the Fund but may constrain or erode potential for capital growth. 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. 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.

	Mar 15 - Mar 16	Mar 16 - Mar 17	Mar 17 - Mar 18	Mar 18 - Mar 19	Mar 19 - Mar 20
Fund	12.45%	22.43%	-2.23%	16.33%	-6.17%

Monthly returns (%)

Data as at 30 April 2020

		Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Annual	Since inception
Fund	2012							3.50	1.26	1.15	-0.75	0.19	-0.76	4.60
Benchmark	2012							3.09	0.46	1.73	-0.43	1.45	0.66	7.11
Fund	2013	8.13	4.16	3.57	-0.16	3.69	-2.06	4.37	-2.40	-0.24	4.30	0.31	1.29	27.34
Benchmark	2013	8.14	3.78	1.75	0.52	2.87	-3.57	4.71	-3.66	0.75	4.77	-0.64	0.28	20.82
Fund	2014	-2.85	3.48	0.82	0.37	2.36	-1.87	-0.07	2.43	-0.93	0.72	4.24	1.59	10.51
Benchmark	2014	-3.32	3.05	0.53	0.05	2.93	-0.04	1.05	2.53	-0.50	1.20	4.36	-0.85	11.30
Fund	2015	3.86	1.92	2.03	-0.66	3.12	-4.96	2.50	-3.18	-1.98	6.54	3.21	1.06	13.65
Benchmark	2015	2.08	2.37	3.02	-1.08	1.09	-5.84	1.49	-5.26	-3.71	8.09	1.56	-0.23	2.80
Fund	2016	-0.84	4.87	2.76	-0.46	0.46	6.29	5.30	1.23	0.12	3.81	-1.17	2.25	27.17
Benchmark	2016	-4.77	4.36	3.24	0.24	-0.05	6.58	7.21	1.42	0.89	5.49	-1.26	3.26	29.27
Fund	2017	-0.61	3.40	0.11	-1.08	3.97	-1.78	0.05	1.86	-2.72	2.36	0.37	-0.58	5.26
Benchmark	2017	1.27	3.11	1.02	-2.08	2.92	-0.56	1.51	1.79	-1.70	3.52	-0.05	1.75	13.02
Fund	2018	-2.83	-0.49	-1.17	4.07	2.55	1.80	1.98	1.73	1.00	-2.28	1.42	-4.90	2.52
Benchmark	2018	0.57	-1.34	-5.14	4.75	3.25	0.15	2.80	2.31	0.03	-6.18	1.88	-7.18	-4.83
Fund	2019	3.37	2.40	2.44	2.58	-1.06	2.74	4.52	-1.59	0.97	-2.43	0.85	-0.65	14.78
Benchmark	2019	4.91	2.07	2.10	4.54	-2.11	4.60	5.66	-3.05	0.75	-1.97	3.01	0.64	22.76
Fund	2020	0.84	-4.48	-7.98	5.58									-6.41	146.64
Benchmark	2020	0.76	-6.80	-9.86	9.77									-7.07	134.87

Source and notes

Source: JOHCM/Bloomberg/MSCI Barra.

Data shown net of fees, net income income reinvested. Benchmark: MSCI AC World NR 12pm adjusted. Performance of other share classes may vary and is available on request.

Disclaimer

Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. The annual management charge is deducted from the capital of the Fund. This will increase the income from the Fund but may constrain or erode potential for capital growth. 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. 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.

Fund statistics

Data as at 30 April 2020

Fund size	GBP 380.1m
Number of holdings	37

Top 10 holdings and active weights

Data as at 30 April 2020

Top 10 holdings

Oracle	5.32%
Philip Morris International	5.02%
Sanofi	4.63%
ENEL	4.63%
Safran	3.66%
Raytheon Technologies	3.64%
EXELON CORP	3.59%
Thales	3.27%
Sugi Holdings	3.12%
GALP Energia	2.99%

Top 10 active weights

Oracle	+5.04%
Philip Morris International	+4.76%
ENEL	+4.50%
Sanofi	+4.38%
Safran	+3.60%
EXELON CORP	+3.51%
Raytheon Technologies	+3.41%
Thales	+3.25%
Sugi Holdings	+3.12%
GALP Energia	+2.97%

Sector breakdown

Data as at 30 April 2020

	Portfolio	Benchmark	Relative
Industrials	18.76%	9.42%	9.34%
Consumer Staples	16.01%	8.45%	7.56%
Utilities	14.24%	3.38%	10.85%
Consumer Discretionary	11.16%	11.32%	-0.16%
Information Technology	7.74%	19.26%	-11.53%
Health Care	6.12%	13.36%	-7.25%
Communication Services	4.80%	9.37%	-4.57%
Energy	2.99%	3.89%	-0.90%
Materials	2.40%	4.51%	-2.11%
Financials	1.39%	14.00%	-12.61%
Real Estate	0.00%	3.03%	-3.03%
Cash	14.40%	0.00%	14.40%

Market cap breakdown

Data as at 30 April 2020

	Portfolio	Benchmark	Relative
Large Cap	70.51%	84.37%	-13.86%
Medium Cap	15.09%	15.05%	0.04%
Small Cap	0.00%	0.58%	-0.58%
Cash	14.40%	0.00%	14.40%

Fund	As at noon	Share class	Currency	Domicile	Sedol number	NAV per share	Change
JOHCM Asia ex Japan Fund	28/05/2020	A	GBP	Ireland	B3RQ272	2.004	-0.005
		A	USD	Ireland	B435PM6	1.534	0.001
		A	EUR	Ireland	B431KK7	1.880	-0.005
		B	EUR	Ireland	B5L49R5	1.915	-0.004
		B	USD	Ireland	BF7NZT0	1.565	0.001
		B	GBP	Ireland	B3ZQS76	1.981	-0.005
		Z	GBP	Ireland	B44PG77	1.420	-0.003
		Z	USD	Ireland	BVG7681	1.023	0.001
JOHCM Asia ex Japan Small and Mid Cap Fund	28/05/2020	A	GBP	Ireland	B6R5LS4	2.120	0.001
		A	USD	Ireland	B6R5QW3	1.727	0.007
		A	EUR	Ireland	B6R5VD9	1.792	0.001
		B	GBP	Ireland	B6R63P8	2.093	0.002
		B	USD	Ireland	B6R5YM9	1.665	0.008
		B	EUR	Ireland	B6R5HM0	2.048	0.002
		Z	GBP	Ireland	B4X3T62	1.607	0.003
JOHCM Continental European Fund	28/05/2020	A	GBP	Ireland	3300912	4.194	0.042
		A	USD	Ireland	BJ4G0G2	1.254	0.013
		A	EUR	Ireland	3300923	3.257	0.033
		A Hedged	GBP	Ireland	BSJCJ49	1.097	0.011
		B	GBP	Ireland	3100543	4.047	0.040
		B	USD	Ireland	BJ4G0H3	1.279	0.013
		B	EUR	Ireland	3300901	3.282	0.033
		X Hedged	GBP	Ireland	BDZD4P7	0.852	0.009
		Y	GBP	Ireland	B993PD0	1.544	0.015
		Y	EUR	Ireland	B98YKX9	1.255	0.013
		Y Hedged	GBP	Ireland	BSJCJ50	1.148	0.012
JOHCM European Concentrated Value Fund	28/05/2020	A	EUR	Ireland	BW0DJY9	0.916	0.004
		B	USD	Ireland	BW0DK13	0.988	0.009
		B	EUR	Ireland	BW0DJZ0	0.912	0.005
		Z	AUD	Ireland	BYNJFM8	1.098	0.003
		Z	EUR	Ireland	BYNJFN9	0.843	0.004
JOHCM European Select Values Fund	28/05/2020	A	GBP	Ireland	3290422	4.795	0.036
		A	EUR	Ireland	3290433	2.969	0.023
		B	GBP	Ireland	3290400	4.395	0.034
		B	EUR	Ireland	3290411	1.989	0.016
		Non-Distributing	EUR	Ireland	BSFWK51	1.098	0.009
		X	EUR	Ireland	B4K14L9	1.424	0.012
JOHCM Global Emerging Markets Opportunities Fund	28/05/2020	A	GBP	Ireland	B4002N4	1.214	-0.001
		A	USD	Ireland	B4M6CN0	0.959	0.003
		A	EUR	Ireland	B3ZBLW7	1.271	0.000
		B	GBP	Ireland	B41RZ57	1.168	-0.001
		B	USD	Ireland	B4XXMP2	1.254	0.003
		B	EUR	Ireland	B4TRCR0	1.257	0.000
		Y	GBP	Ireland	BYSGJY4	1.463	-0.001
		Y	USD	Ireland	BYSGJZ5	1.167	0.003
		Z	GBP	Ireland	B6R54W9	1.527	-0.001
		Z	CAD	Ireland	BBPK0L2	1.384	-0.003
		Z	AUD	Ireland	B5W6ZB6	1.657	-0.005
JOHCM Global Income Builder Fund	28/05/2020		GBP	Ireland	BFZWPH7	1.084	0.004
		A	SGD	Ireland	BFZWPG6	0.995	0.006
		A	GBP	Ireland	BFZWPC2	1.039	0.004
		A	USD	Ireland	BFZWPF5	0.948	0.006
		A	EUR	Ireland	BFZWPD3	1.021	0.004
		B	EUR	Ireland	BFZWPJ9	1.000	0.005
		EUR	EUR	Ireland	BKF2GH9	0.904	0.004
		GBI	GBP	Ireland	BHR0DJ1	1.014	0.004
		HEU	EUR	Ireland	BJGW7C3	0.913	0.007
JOHCM Global Opportunities Fund (offshore)	28/05/2020	A	GBP	Ireland	B89PQM5	2.036	0.012
		A	USD	Ireland	B89JY23	1.863	0.016
		A	EUR	Ireland	B7MR557	2.146	0.011
		B	GBP	Ireland	BF7NZS9	2.258	0.013
		B	USD	Ireland	B8295C7	1.785	0.015
		B	EUR	Ireland	B80FZF0	1.990	0.011
		IHX	EUR	Ireland	BFZWWX2	0.908	0.008
		X	GBP	Ireland	BQVC9L0	1.736	0.009
		X	EUR	Ireland	BJ5JW42	0.979	0.006
		X	GBP	Ireland	BK8M212	0.969	0.005
		X Hedged	GBP	Ireland	BF29TX5	0.949	0.008
		Z	GBP	Ireland	B83MS15	0.804	0.005
		Z	GBP	Ireland	BD6R4D6	1.495	0.009
		Z	EUR	Ireland	BDZD4M4	0.957	0.005
JOHCM Global Opportunities Fund (onshore)	28/05/2020	A Accumulating	GBP	UK	BJ5JMC0	1.021	0.006
		A Distributing	GBP	UK	BJ5JMD1	1.006	0.006
		AHA	GBP	UK	BKDV8G1	0.943	0.008
		X Accumulating	GBP	UK	BJ5JMF3	0.991	0.006
		X Distributing	GBP	UK	BJ5JMG4	1.001	0.006
JOHCM Global Select Fund	28/05/2020	A	GBP	Ireland	B3DBRN2	3.597	0.049
		A	USD	Ireland	B3T31Z2	1.817	0.030
		A	EUR	Ireland	B3DBRP4	3.223	0.044
		B	GBP	Ireland	B3DBRL0	3.482	0.048
		B	USD	Ireland	B5L7L67	2.081	0.035
		B	EUR	Ireland	B3DBRM1	3.133	0.044
		Z	GBP	Ireland	B3DCMB8	2.572	0.035
		Z	USD	Ireland	B4V7J00	2.033	0.035
JOHCM Japan Fund	28/05/2020	A	GBP	Ireland	3438879	2.227	0.020
		A	EUR	Ireland	3438880	1.569	0.014
		A Hedged	GBP	Ireland	B5LD7P6	1.413	0.016
		A JPY	JPY	Ireland	3438891	283.496	3.241
		B	GBP	Ireland	3438846	2.174	0.019
		B	EUR	Ireland	3438857	1.521	0.014
		B Hedged	GBP	Ireland	B6386R1	1.439	0.017
		B JPY	JPY	Ireland	3438868	280.327	3.364
JOHCM UK Dynamic Fund	28/05/2020	A Accumulating	GBP	UK	B4T7HR5	2.009	0.018
		A Distributing	GBP	UK	B4T8552	1.444	0.013
		B Accumulating	GBP	UK	B4T7JX5	2.242	0.020
		B Distributing	GBP	UK	B4TXJ33	1.320	0.012
		X Accumulating	GBP	UK	BJ7HNB8	0.781	0.007
		X Distributing	GBP	UK	BJ5JMB9	0.751	0.007
		Y	GBP	UK	BDZRJ21	0.905	0.009
		Y	GBP	Ireland	BDGKPZ4	0.752	0.007
		Y Accumulating	GBP	UK	BDZRJ10	1.157	0.010
JOHCM UK Equity Income Fund	28/05/2020	A Accumulating	GBP	UK	B03KR50	2.885	0.028
		A Distributing	GBP	UK	B03KP23	1.401	0.013
		B Accumulating	GBP	UK	B03KR83	2.687	0.026
		B Distributing	GBP	UK	B03KR61	1.303	0.012
		X Distributing	GBP	UK	BYV9S21	0.697	0.007
		Y	GBP	UK	B95FCK6	0.944	0.009
		Y Accumulating	GBP	UK	B8FCHK5	1.163	0.011
JOHCM UK Growth Fund	28/05/2020	A	GBP	Ireland	3300934	2.806	0.001
		B	GBP	Ireland	3100554	2.434	0.000
		REU	EUR	Ireland	BLLV8D7	1.440	0.000
		RUD	USD	Ireland		1.475	0.005
		X	USD	Ireland	BLLV871	1.476	0.005
		X	EUR	Ireland		1.411	0.000
		X	EUR	Ireland	BLLV882	1.441	0.000
		X	GBP	Ireland	BLLV893	1.390	0.000
JOHCM UK Opportunities Fund	28/05/2020	A Accumulating	GBP	UK	B0LLB64	2.806	0.041
		A Distributing	GBP	UK	B3K76Q9	1.887	0.028
		B Accumulating	GBP	UK	B0LLB75	2.624	0.039
		B Distributing	GBP	UK	B3K76P8	1.790	0.027
		X Accumulating	GBP	UK	BQJZQQ5	1.294	0.019
		X Distributing	GBP	UK	B95MSF4	1.065	0.016
		Y	GBP	UK	B95J5C1	1.269	0.019
		Y Accumulating	GBP	UK	B95HP81	1.566	0.023

Dividend Rates

Funds paying monthly dividends

JOHCM Global Income Builder Fund

Share class	06/19	07/19	08/19	09/19	10/19	11/19	12/19	01/20	02/20	03/20
A GBP	0.4143	0.5095	0.4572	0.4716	0.4537	0.4537	0.4276	0.4668	0.4491	0.4176
A EUR	0.4075	0.4935	0.4441	0.4695	0.4650	0.4650	0.4426	0.4862	0.4680	0.4171
A USD	0.3902	0.4598	0.4114	0.4324	0.4384	0.4384	0.4117	0.4592	0.4372	0.3853
A SGD	0.3905	0.4672	0.4228	0.4429	0.4398	0.4398	0.4164	0.4573	0.4418	0.4079
B EUR	0.4025	0.4870	0.4379	0.4627	0.4579	0.4579	0.4355	0.4775	0.4595	0.4088
Seed	0.4297	0.5287	0.4746	0.4897	0.4714	0.4714	0.0411	0.4859	0.4677	0.3691

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 18	Q3 18	Q4 18	Q1 19	Q2 19	Q3 19	Q4 19	Q1 20
A distributing GBP	3.6600	2.7765	1.9368	2.0957	3.6523	2.7970	2.0409	1.5930
A accumulating GBP	6.7535	5.2101	3.6835	4.0293	7.1000	5.5449	4.1082	3.2391
B distributing GBP	3.4380	2.6034	1.8139	1.9597	3.4124	2.6093	1.9017	1.4790
B accumulating GBP	6.3593	4.8980	3.4588	3.7777	6.6508	5.1861	3.8367	3.0210
Y distributing GBP	2.4607	1.8670	1.3028	1.4102	2.4582	1.8832	1.3744	1.0730
Y accumulating GBP	2.7171	2.0960	1.4823	1.6220	2.8588	2.2334	1.6547	1.3051

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

18 Sep 2019
Leyland's Look

Ben Leyland, manager of the JOHCM Global Opportunities fund, on why investors' "fear of missing out" is so dangerous.
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20 Sep 2018
Leylands Global Look

JOHCM Global Opportunities Fund: Leyland’s Global Look – a time for caution but not capitulation
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Webcasts & Videos

JOHCM Global Opportunities Fund: commitment to capital preservation

15 Jul 2019 | 5 mins
An update to the JOHCM Global Opportunities Fund

12 Feb 2019 | 18 mins
An introduction to the JOHCM Global Opportunities Fund

31 Jul 2017 | 4 mins
JOHCM Global Opportunities Fund - An introduction

22 Jan 2016 | 4 mins