JOHCM UK Dynamic Fund (onshore)

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Fund Description

Stock picker Alex Savvides aims to profit from understanding and backing positive corporate change, change that is often misunderstood or under-appreciated by the stock market. The Fund may therefore feature a mixture of restructuring/recovery plays, cheap or hidden growth and other more general special situations. The fact that each stock held within the Fund must pay a dividend or be expected to do so by Alex within the next 12 months gives the Fund attractive yield characteristics.

  • Alex’s investment process draws on his career experience developed on both the ‘buy’ and ‘sell’ side. He follows a pragmatic approach to fund management, looking for the best capital growth opportunities regardless of the perceived style of the stock but within the confines of his clear portfolio disciplines
  • Alex looks for investments where he has a more positive view of medium to long-term future revenues and cash flows than the prevailing market opinion. He believes that independence of thought, hard work and strict adherence to a well-defined portfolio investment process will result in long-term value creation
  • The Fund invests in a mixture of high quality, unloved, under-researched, under-appreciated stocks and often out of favour areas of the market
Reasons To Invest
  • Change is one of the biggest drivers of stock returns, but it is consistently overlooked or is misunderstood by the market. Markets are slow to price in change and that creates opportunities for disciplined investors
  • Alex places great importance on balance sheet and cash flow management. All stocks in the portfolio must pay a dividend or be expected to do by Alex within the next financial year, giving the Fund attractive yield characteristics

Please note that with effect from 1 January 2022, this fund will make semi-annual distributions.

  • Alex Savvides

    Senior Fund Manager

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  • Stephanie Geary

    Analyst

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  • Siddharth Sukumar

    Analyst

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This is a marketing communication.

Information on the rights of investors can be found here.

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. Investments 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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JOHCM UK Growth Fund

Mark Costar and Vishal Bhatia aim to identify mispriced or undiscovered growth stocks that typically reside in one of three categories: the clear and unassailable market leader, the innovator or market disruptor and the supply side beneficiary. The Fund typically has a small-cap bias and contains stocks that have a high margin of safety...

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JOHCM UK Opportunities Fund

Fund managers Rachel Reutter and Michael Ulrich, supported by experienced analyst Eoghan Reid, run a concentrated portfolio of best-in-class UK large and mid-cap companies.

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JOHCM UK Dynamic Fund (offshore)

Stock picker Alex Savvides aims to profit from understanding and backing positive corporate change, change that is often misunderstood or under-appreciated by the stock market. The Fund may therefore feature a mixture of restructuring/recovery plays, cheap or hidden growth and other more general special situations. The fact that each stock h...

Read More
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Investment Objective

The objective of the JOHCM UK Dynamic Fund is to achieve long-term capital growth. The Fund will aim to achieve this objective mainly through investments primarily drawn from companies listed on either of the two primary markets of the London Stock Exchange: the main market and AIM. At least 75% of the Fund’s assets will, at all times, be invested in equity securities of companies domiciled or exercising a predominant part of their economic activity in the United Kingdom. On occasion the Fund may utilise this position to invest a proportion of its assets in equities listed on a recognised exchange outside the UK. Investment will be made primarily in equity securities which are readily marketable, but investments will also be made in equity securities of smaller companies which can be more lightly traded. The portfolio is likely to be fairly concentrated with the Fund typically holding equity interests in between 35 and 50 different companies.

Fund details

Data as at 31 July 2023
Fund size GBP 1.33bn
Strategy size GBP 1.44bn (as at 31 May 2023)
Benchmark FTSE All-Share TR 12pm adjusted
Domicile UK
Denomination GBP
Share classes

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Unit type Distribution & accumulation
XD Date 31 December, 30 June
Payment date 28 February, 31 August
Minimum investment
A distributing GBP 1,000
Valuation point Daily (12 noon, UK time)
Dealing frequency Daily 9-5pm

Fund ratings and awards

Data as at 31 July 2023

For our latest fund ratings and awards, please view our latest factsheet here

Fees and charges

Initial charge Up to 5%
Annual mgmt charge (A) 0.75%
Annual mgmt charge (B) 1.25%
Performance fee

Performance fees: A performance fee of 15% is payable on the excess if the NAV outperforms the Index Adjusted NAV (as defined in the Prospectus) on an annual basis. The calculation is performed daily. Any underperformance is carried forward. This fee applies to all share classes of the Fund with the exception of the Class A shares, Class K Shares and Class M Shares where there is no performance fee charged.

Administration

Status UCITS
Investment manager J O Hambro Capital Management Limited
Transfer agent and registrar The Northern Trust Company (UK Branch)
Depositary Northern Trust Investor Services Limited

This is a marketing communication.

Information on the rights of investors can be found here.

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. Investments 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 August 2023

Macro update
•    Global equity markets returned to a risk off mentality in August, driven by hawkish data domestically and concerns over the Chinese economy. 
•    The FTSE 100 and 250 returned -2.5% and -2.4% respectively, while the FTSE All Share returned -2.1%. The UK modestly outperformed European markets but lagged behind the US. 
•    UK GDP data came in stronger-than-expected and was followed by a wage inflation report from ONS that indicated salaries had increased at the fastest pace since records began. Consumer Price Index (CPI) came in at 6.8%, in line with the Bank of England’s forecast but slightly firmer than consensus. Services also recorded a pick-up in inflation. Sentiment improved towards the end of the month, as the British Retail Consortium reported that shop price inflation had fallen. 
•    Concern over economic developments in China and a potential default of property developer Country Garden weighed on China-exposed segments of the market. The People's Bank of China unexpectedly cut policy rates in an effort to boost the economy. 
•    From a factor perspective, leadership came from defensives and low volatility. Earnings revisions and momentum were also strong, as companies that beat consensus and raised guidance continued to be rewarded.  

Performance update
•    The fund outperformed the benchmark by 126bps in August, as stock selection delivered 159bps relative performance, concentrated in the health care, utilities and financials sectors. 
•    The strongest contributor in this period was Convatec, which contributed 67bps to relative return, as the shares rose 12% off the back of a strong set of interim results. The company reported broad based organic revenue growth of 6.6%, whilst delivering an expanded operating margin ahead of consensus expectations. Full-year guidance for 2023 has been raised and is supported by a strong product innovation pipeline.
•    Price momentum in Centrica continued as analysts moved to upgrade forecasts following the strong set of results delivered in July, adding a further 64bps to performance. Spot prices for natural gas* futures increased 21% in July as looming strike action in Australia led to concerns that c.10% of global LNG supply could be impacted, acting as further support for the shares.
•    Rolls Royce shares rose 20%, adding 31bps of relative performance, after reporting first-half results that were materially ahead versus the prior period. The company delivered an underlying operating profit, and free cash flow that was ahead of consensus and upgraded full-year guidance for both metrics, whilst also reporting margin improvements led by the Civil & Defence division. 
•    3i Group added 20bps to relative performance. The shares rose 0.8%, as the company was reported to weigh a €900m sale of Weener Plastics.
•    Finally returning to healthcare, GSK delivered a further 9bps of relative performance. The shares had not responded to beats on both revenue and EPS lines and upgraded guidance at the interim results in July, as analysts bearishly focused on Shingrix’s growth and the R&D strategy. Despite a better performance in August, the shares remain cheap relative to the sector, trading on a Forward 1 Year Price to Earnings (PE) Ratio of 9x. 
•    Crest Nicholson detracted -16bps, as the shares declined -15% after the company issued a profit warning, reporting a marked deterioration in sales rates since June, as higher mortgage rates affect demand. The shares trade on 0.5x TNAV. 
*Gas spot prices relates to BBG ticker NBPG1MON. 
 

This is a marketing communication.

Information on the rights of investors can be found here.

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. Investments 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 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. Investments 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 July 2023
A GBP share class, since launch (16 June 2008)

Return history (%)

Data as at 31 July 2023

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. 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 18 - Jun 19 Jun 19 - Jun 20 Jun 20 - Jun 21 Jun 21 - Jun 22 Jun 22 - Jun 23
Fund -3.87% -24.40% 35.62% 0.53% 7.67%

Monthly returns (%)

Data as at 31 July 2023
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Since inception
Fund 2008 -4.56 0.13 5.34 -11.81 -12.26 1.04 7.09 -15.71
Benchmark 2008 -4.15 -2.44 4.35 -14.16 -13.79 0.44 5.13 -23.74
Fund 2009 -4.58 -5.68 2.03 14.63 3.28 -1.08 8.66 10.86 4.95 -1.55 -0.74 4.20 38.43
Benchmark 2009 -5.46 -6.93 1.96 12.12 4.24 -2.94 7.89 7.39 5.20 -0.54 1.39 3.87 29.91
Fund 2010 -2.13 0.22 7.10 0.07 -6.39 -4.75 7.73 -3.06 8.86 4.05 -1.47 6.30 16.13
Benchmark 2010 -3.64 2.89 7.40 -0.89 -5.96 -4.85 7.11 -2.33 8.21 2.07 -1.43 7.14 15.25
Fund 2011 1.97 1.35 -1.56 2.97 0.20 -1.69 -2.18 -9.36 -5.18 9.08 -3.52 0.09 -8.61
Benchmark 2011 -1.18 2.33 -0.15 2.45 -0.47 -1.52 -1.15 -8.36 -3.79 9.97 -4.22 2.67 -4.42
Fund 2012 6.99 6.11 0.64 -1.98 -8.80 5.45 3.22 3.70 3.29 2.71 1.52 2.21 26.94
Benchmark 2012 3.65 4.57 -1.51 -0.15 -6.73 4.24 2.08 2.18 0.97 1.53 1.04 0.91 12.99
Fund 2013 6.87 3.45 1.73 1.13 3.24 -3.47 6.79 -0.16 0.95 4.38 0.65 2.08 30.85
Benchmark 2013 6.40 2.00 1.91 0.44 2.78 -4.84 6.22 -1.34 0.35 4.62 -0.63 1.59 20.66
Fund 2014 -1.26 6.20 -2.92 1.34 0.38 -2.54 1.25 1.90 -2.01 -0.76 2.30 -0.89 2.67
Benchmark 2014 -3.87 5.86 -2.13 1.77 1.72 -1.54 0.15 1.67 -2.48 -0.89 2.36 -1.29 0.93
Fund 2015 2.08 3.90 -0.89 3.47 3.40 -5.18 -0.40 -5.26 -3.86 3.43 1.09 -1.54 -0.43
Benchmark 2015 3.33 3.13 -1.04 2.23 2.55 -5.94 1.15 -5.95 -1.86 5.10 0.63 -1.39 1.25
Fund 2016 -5.23 2.46 1.57 3.47 0.23 -2.32 7.09 3.20 0.95 2.94 -0.04 5.14 20.59
Benchmark 2016 -4.40 1.81 2.29 1.61 0.61 0.32 5.89 2.54 0.71 1.27 -1.05 3.73 16.05
Fund 2017 1.30 2.14 1.87 0.41 4.36 -1.68 0.91 0.32 1.22 2.16 -0.90 2.42 15.38
Benchmark 2017 0.87 2.33 1.29 -0.15 4.58 -2.21 0.62 0.90 -0.06 1.88 -0.69 3.18 13.10
Fund 2018 -0.58 -2.34 -2.39 7.36 2.65 -0.13 -0.03 -2.16 0.30 -6.11 -2.45 -4.74 -10.73
Benchmark 2018 -0.89 -3.34 -2.18 6.78 2.66 -0.14 1.09 -2.30 0.07 -5.03 -1.68 -3.93 -9.06
Fund 2019 6.09 0.47 1.11 4.97 -3.18 2.55 0.51 -3.29 5.22 -1.33 2.30 3.70 20.25
Benchmark 2019 4.59 1.65 2.67 3.16 -3.21 3.65 2.28 -3.40 2.60 -1.28 2.82 2.63 19.29
Fund 2020 -4.71 -10.93 -23.37 6.71 1.56 0.18 -4.96 3.18 -4.64 -1.98 21.10 4.55 -18.05
Benchmark 2020 -2.84 -9.37 -15.89 8.64 2.17 0.72 -2.68 1.55 -2.05 -4.04 14.39 2.85 -9.52
Fund 2021 0.12 5.63 5.07 1.82 3.54 -0.23 1.23 3.35 -2.16 -0.06 -2.21 4.32 21.95
Benchmark 2021 -0.44 2.06 3.73 3.43 1.74 -0.13 0.37 2.65 -0.41 1.32 -2.30 4.68 17.77
Fund 2022 1.21 -2.42 2.29 -1.51 2.72 -5.74 4.27 -3.58 -7.47 5.15 7.91 -0.34 1.34
Benchmark 2022 -0.24 -1.29 2.73 -0.56 1.26 -6.15 3.92 -1.42 -5.72 2.61 7.56 -1.14 0.74
Fund 2023 6.22 2.75 -5.01 3.43 -4.13 -0.43 3.65 6.10 237.50
Benchmark 2023 3.57 2.36 -3.00 2.52 -3.12 0.12 2.61 4.91 143.82

Net yield

Net yield is calculated as last four distributions divided by share price as at month end.

Net Yield %
Share class A - accumulating 4.14
Share class A - distributing 4.17
Share class B - accumulating 4.15
Share class B - distributing 4.18

Source and notes

JOHCM/FTSE Group/Bloomberg/Lipper.

Performance data for the period 16 June 2008 to 23 October 2009 is for Ryder Court UK Dynamic Fund. From 23 October 2009 onwards, the Fund converted to the JOHCM UK Dynamic Fund.

Data shown net of fees, net income reinvested. Please note that all fund performance is shown against the FTSE All-Share TR 12pm adjusted. Performance of other share classes may vary and is available on request. Where shown, monthly returns table shows compounded discrete monthly performance. Performance of other share classes will vary and is available on request. During the period 16 June 2008 to 23 October 2009 the performance record is based on the pre-existing share class that had a higher management fee.

FTSE International Limited (“FTSE”) © FTSE 2017. The Industry Classification Benchmark (“ICB”) and all  rights in it are owned by and vest in FTSE and/or its licensors. “FTSE®” is a trade mark of the London Stock Exchange Group companies and is used by FTSE International Limited under licence. Neither FTSE, nor its licensors accept any liability for any errors or omissions in the ICB. No further distribution of ICB is permitted without FTSE’s express written consent.

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. 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 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. Investments 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 July 2023
Fund size GBP 1.33bn
Number of holdings 39

Top 10 holdings and active weights

Data as at 31 July 2023
Top 10 holdings
3i 6.89%
Centrica 5.59%
HSBC 5.51%
GSK 4.86%
ConvaTec Group 4.67%
Barclays 4.37%
BP 4.24%
Land Securities Group 4.12%
Aviva 4.07%
Pearson 3.78%
Top 10 active weights
3i +6.09%
Centrica +5.25%
ConvaTec Group +4.53%
Land Securities Group +3.92%
Aviva +3.62%
Pearson +3.52%
Moneysupermarket.com +3.50%
Barclays +3.35%
WPP +3.30%
Vodafone +2.99%

Sector breakdown

Data as at 31 July 2023
Portfolio Benchmark Relative
Financials 27.42% 23.23% 4.19%
Consumer Discretionary 11.84% 11.87% -0.03%
Industrials 10.21% 12.22% -2.02%
Health Care 9.53% 11.30% -1.77%
Energy 7.24% 10.76% -3.52%
Basic Materials 6.46% 7.37% -0.91%
Consumer Staples 6.42% 14.95% -8.53%
Utilities 5.59% 3.49% 2.09%
Real Estate 5.54% 2.43% 3.11%
Technology 4.75% 1.16% 3.59%
Telecommunications 3.68% 1.23% 2.45%
Cash 1.32% 0.00% 1.32%

Market cap breakdown

Data as at 31 July 2023
Portfolio Benchmark Relative
Large Cap 74.43% 83.97% -9.54%
Medium Cap 21.36% 13.78% 7.58%
Small Cap 2.91% 2.25% 0.67%
Cash 1.30% 0.00% 1.30%

This is a marketing communication.

Information on the rights of investors can be found here.

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. Investments 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 Group

Fund

As at noon Share class Currency Domicile ISIN number NAV per share Change   KIID
UK Equities JOHCM UK Dynamic Fund (onshore) 21/09/2023 A Accumulating GBP UK GB00B4T7HR59 3.143 -0.018
UK Equities JOHCM UK Dynamic Fund (onshore) 21/09/2023 A Distributing GBP UK GB00B4T85529 1.993 -0.011
UK Equities JOHCM UK Dynamic Fund (offshore) A GBP Ireland IE00BDGKPY39
UK Equities JOHCM UK Dynamic Fund (onshore) 21/09/2023 B Accumulating GBP UK GB00B4T7JX59 3.449 -0.02
UK Equities JOHCM UK Dynamic Fund (onshore) 21/09/2023 B Distributing GBP UK GB00B4TXJ339 1.792 -0.01
UK Equities JOHCM UK Dynamic Fund (onshore) 21/09/2023 K Accumulating GBP UK GB00BQQ84293 1.044 -0.006
UK Equities JOHCM UK Dynamic Fund (onshore) 21/09/2023 K Distributing GBP UK GB00BQQ84301 1.038 -0.006
UK Equities JOHCM UK Dynamic Fund (onshore) 21/09/2023 M Accumulating GBP UK GB00BMBQQY64 1.023 -0.006
UK Equities JOHCM UK Dynamic Fund (onshore) 21/09/2023 M Distributing GBP UK GB00BMBQQZ71 1.016 -0.006
UK Equities JOHCM UK Dynamic Fund (onshore) 21/09/2023 X Accumulating GBP UK GB00BJ7HNB87 1.232 -0.007
UK Equities JOHCM UK Dynamic Fund (onshore) 21/09/2023 X Distributing GBP UK GB00BJ5JMB96 1.044 -0.006
UK Equities JOHCM UK Dynamic Fund (onshore) 21/09/2023 Y Accumulating GBP UK GB00BDZRJ101 1.818 -0.01
UK Equities JOHCM UK Dynamic Fund (onshore) 21/09/2023 Y Distributing GBP UK GB00BDZRJ218 1.253 -0.008
UK Equities JOHCM UK Dynamic Fund (offshore) 21/09/2023 Y EUR EUR Ireland IE000UUSWK64 1.024 -0.009
UK Equities JOHCM UK Dynamic Fund (offshore) 21/09/2023 Y GBP GBP Ireland IE00BDGKPZ46 1.042 -0.006
UK Equities JOHCM UK Dynamic Fund (offshore) 21/09/2023 Y USD USD Ireland IE000R902PU3 1.176 -0.017

Dividend Rates

Funds paying quarterly dividends

JOHCM UK Equity Income Fund

Share class Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23
A distributing GBP 3.0863 1.2881 1.9828 3.4453 3.1410 1.8309 2.1053 3.2723
A accumulating GBP 6.6368 2.8152 4.3509 7.6541 7.1149 4.2268 4.9097 7.7197
B distributing GBP  2.8539 1.1897 1.8271 3.1746 2.8895 1.6822 1.9315 3.0000
B accumulating GBP 6.1431 2.6020 4.0228 7.0604 6.5526 3.8884 4.5096 7.0851
Y distributing GBP 2.0833 0.8697 1.3383 2.3274 2.1211 1.2376 1.4237 2.2134
Y accumulating GBP 2.6787 1.1364 1.7602 3.0924 2.8757 1.7088 1.9315 3.1230

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 Northern Trust directly on 0333 300 0359 or by email JOH_Onshore_TAQueries@ntrs.com.

Funds paying semi-annual dividends

All funds have a XD date of 30 June, pay date of 31 August and XD date of 31 December, pay date 28 February.

JOHCM UK Dynamic Fund (Onshore)

Share class Currency Pay date Dividend paid in Dividend rate
A - distributing GBP 31 Aug 2023 pence per share 4.7348
A - accumulating GBP 31 Aug 2023 pence per share  7.2848
B - distributing GBP 31 Aug 2023 pence per share  4.2666
B - accumulating GBP 31 Aug 2023 pence per share 8.0119
Y - distributing GBP 31 Aug 2023 pence per share 2.9766
Y - accumulating GBP 31 Aug 2023 pence per share 4.2119
X - distributing GBP 31 Aug 2023 pence per share 2.4775
X - accummulating GBP 31 Aug 2023 pence per share 2.8519
M - distributing GBP 31 Aug 2023 pence per share 0.6975
M - accumulating GBP 31 Aug 2023 pence per share 0.6975
K - distributing GBP 31 Aug 2023 pence per share 0.6130
K - accumulating  GBP 31 Aug 2023 pence per share 0.6128

JOHCM UK Dynamic Fund (Offshore)

Share class Currency Pay date Dividend paid in  Dividend rate
Y GBP 31 Aug 2023 pence per share 2.2517
Y EUR 31 Aug 2023 pence per share 2.1310
Y USD 31 Aug 2023 pence per chare 2.3831

JOHCM Global Select Shariah Fund 

Share class Currency Pay date Dividend paid in  Dividend rate
A USD 31 Aug 2023 pence per share 0.3187

Funds paying annual dividends

All funds have a XD date of 31 December and pay date of 28 February.

JOHCM Asia ex Japan Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2023 pence per share 0.0000
A EUR 28 Feb 2023 cents per share 0.0000
A USD 28 Feb 2023 cents per share 0.0000
B GBP 28 Feb 2023 pence per share 0.0000
B EUR 28 Feb 2023 cents per share 0.0000
B USD 28 Feb 2023 cents per share 0.0000
Z GBP 28 Feb 2023 cents per share 1.2559
Z USD 28 Feb 2023 cents per share 0.0088

JOHCM Asia ex Japan Small and Mid Cap Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2023 pence per share 0.0000
A EUR 28 Feb 2023 cents per share 0.0000
A USD 28 Feb 2023 cents per share 0.0000
B GBP 28 Feb 2023 pence per share 0.0000
B EUR 28 Feb 2023 cents per share 0.0000
B USD 28 Feb 2023 cents per share 0.0000
Z GBP 28 Feb 2023 cents per share 0.0000


JOHCM Continental European Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2023 pence per share 10.0915
A EUR 28 Feb 2023 cents per share 7.9953
A - hedge GBP 28 Feb 2023 pence per share 2.9851
B GBP 28 Feb 2023 pence per share 7.7618
B EUR 28 Feb 2023 cents per share 6.4068
B - hedge USD 28 Feb 2023 cents per share 1.1526
Y GBP 28 Feb 2023 pence per share 3.7378
Y - hedge GBP 28 Feb 2023 pence per share 3.2781
Y EUR 28 Feb 2023 cents per share 3.0566

JOHCM European Select Values Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2023 pence per share 4.8151
A EUR 28 Feb 2023 cents per share 2.6779
B GBP 28 Feb 2023 pence per share 2.0318
B EUR 28 Feb 2023 cents per share 0.8256
Y EUR 28 Feb 2023 cents per share 0.8964


JOHCM Global Emerging Markets Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2023 pence per share 3.9725
A EUR 28 Feb 2023 cents per share 3.7874
A USD 28 Feb 2023 cents per share 2.7065
B GBP 28 Feb 2023 pence per share 3.5330
B EUR 28 Feb 2023 cents per share 3.4128
B USD 28 Feb 2023 cents per share 3.0881
Y GBP 28 Feb 2023 pence per share 4.9039
Y USD 28 Feb 2023 cents per share 2.8124
Z GBP 28 Feb 2023 cents per share 7.3245

JOHCM Global Opportunities Fund (onshore)

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2023 pence per share 2.5742
A - hedged GBP 28 Feb 2023 pence per share 2.3240
X GBP 28 Feb 2023 cents per share 2.4772

JOHCM Global Opportunities Fund (offshore)

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2023 pence per share 4.4298
A EUR 28 Feb 2023 cents per share 4.1956
A USD 28 Feb 2023 cents per share 3.3076
B EUR 28 Feb 2023 cents per share 3.8301
B USD 28 Feb 2023 cents per share 3.1239
A - hedged EUR 28 Feb 2023 cents per share 1.6538
X GBP 28 Feb 2023 cents per share 3.7875
Z GBP 28 Feb 2023 cents per share 1.7774
X - hedged GBP 28 Feb 2023 cents per share 2.1090
X EUR 28 Feb 2023 cents per share 1.9147

JOHCM Global Select Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2023 pence per share 2.5774
A EUR 28 Feb 2023 cents per share 2.0747
A USD 28 Feb 2023 cents per share 1.0629
B GBP 28 Feb 2023 pence per share 0.0000
B EUR 28 Feb 2023 cents per share 0.0000
B USD 28 Feb 2023 cents per share 0.0000
Z GBP 28 Feb 2023 pence per share 4.2279


JOHCM UK Growth Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2023 pence per share 4.6405
B GBP 28 Feb 2023 pence per share 2.4239
X GBP 28 Feb 2023 pence per share 2.5898

JOHCM UK Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A - distributing GBP 28 Feb 2023 pence per share 6.1160
A - accumulating GBP 28 Feb 2023 pence per share 9.5564
B - distributing GBP 28 Feb 2023 pence per share 5.7397
B - accumulating GBP 28 Feb 2023 pence per share 8.8440
Y - accumulating GBP 28 Feb 2023 pence per share 5.3515
Y - distributing GBP 28 Feb 2023 pence per share 4.1220

 

Net dividends quoted in the local share class currency.

If you would like more information, please contact Northern Trust directly on 0333 300 0359 or by email JOH_Onshore_TAQueries@ntrs.com. Email us at oeicdealing@johcm.co.uk.

Views & News

  • 18 Jul 2023

    Under the Bonnet - Absorbing the Quadruple Whammy

    Cautious positioning against negative newsflow was insufficient to withstand the ‘quadruple whammy’

    Read More
  • 10 Jul 2023

    Creating Value Through Transformation

    Alex Savvides, senior fund management on the JOHCM UK Dynamic strategy explores the potential for hidden value in six large-cap companies

    Read More
  • 29 May 2023

    Benefits of Difference

    The strategy returned to the top decile for the IA UK All Companies peer group - what drove the return to outperformance?

    Read More
  • 24 May 2023

    Mid-Cap Returns for Large-Cap Risk

    The strategy currently has a definite bias toward larger cap companies. How does this fit with a transformation fund?

    Read More
  • 19 Apr 2023

    Under the Bonnet - Resilience Against Uncertainty

    Factor shifts are just some of the mixed signals coming from a rotating market.

    Read More
  • 19 Jan 2023

    Under the Bonnet

    2022 – the year the world woke up

    Read More
  • 16 Oct 2022

    Under the Bonnet

    Markets are overwhelmed with macro, especially the return of 'real' interest rates, while ignoring company fundamentals

    Read More
  • 20 Apr 2022

    Under the Bonnet

    The world is a very different place to what it was a month ago. As ever, we seek strategic idiosyncratic change where hidden value can be unlocked through management actions

    Read More
  • 18 Jan 2022

    Under the Bonnet

    A quarterly update from the UK Dynamic team on the macro environment, portfolio performance and outlook. 

    Read More
  • 15 Dec 2021

    Under the Bonnet

    A monthly portfolio update from the JOHCM UK Dynamic team on the strategic progress made by their portfolio companies. 

    Read More
  • 12 Nov 2021

    Under the Bonnet

    A monthly portfolio update from the JOHCM UK Dynamic team on the strategic progress made by their portfolio companies. 

    Read More
  • 19 Oct 2021

    Under the Bonnet

    The third quarter saw good strategic progress, strong results and interesting M&A activity for the JOHCM UK Dynamic portfolio.

    Read More
  • 12 Sep 2021

    Under the Bonnet

    A monthly portfolio update from the JOHCM UK Dynamic team in a month where the NASDAQ 100 and S&P500 made new all-time highs.

    Read More

Webcasts & Videos

  • JOHCM UK Dynamic Fund Q3 2023 Update

    25 Jul 2023 | 38 mins

  • Creating Value Through Transformation

    03 Jul 2023 | 27 mins

  • The Asset Allocation Nightmare: UK, Global or Both?

    26 May 2023 | 30 mins

  • JOHCM UK Dynamic Fund Q2 2023 Update

    27 Apr 2023 | 48 mins

  • Alex Savvides

    Senior Fund Manager

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  • Stephanie Geary

    Analyst

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  • Siddharth Sukumar

    Analyst

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This is a marketing communication.

Information on the rights of investors can be found here.

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. Investments 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 UK Equity Funds

JOHCM UK Equity Income Fund

Established stock pickers James Lowen and Clive Beagles operate a strict yield discipline: they only buy stocks that they believe will yield more than the FTSE All-Share Index on a prospective basis, although every stock held must also have the potential for capital appreciation. This focus on higher-yielding stocks leads to a naturally cont...

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JOHCM UK Growth Fund

Mark Costar and Vishal Bhatia aim to identify mispriced or undiscovered growth stocks that typically reside in one of three categories: the clear and unassailable market leader, the innovator or market disruptor and the supply side beneficiary. The Fund typically has a small-cap bias and contains stocks that have a high margin of safety...

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JOHCM UK Opportunities Fund

Fund managers Rachel Reutter and Michael Ulrich, supported by experienced analyst Eoghan Reid, run a concentrated portfolio of best-in-class UK large and mid-cap companies.

They invest in companies with reliable cashflows which they expect and encourage management to invest back into their businesses to sustain future growth. The ...

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JOHCM UK Dynamic Fund (offshore)

Stock picker Alex Savvides aims to profit from understanding and backing positive corporate change, change that is often misunderstood or under-appreciated by the stock market. The Fund may therefore feature a mixture of restructuring/recovery plays, cheap or hidden growth and other more general special situations. The fact that each stock h...

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