JOHCM UK Equity Income Fund

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Fund Description

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 contrarian style. Unlike many UK equity income funds, the fund managers have a track record of adding significant value from small and mid-cap holdings.

This fund is not available to new investors from the European Union after 31 December 2020

  • A naturally contrarian investment process
  • A strict yield discipline: every stock must yield more than FTSE All Share-Index on a prospective basis
  • All cap approach: the Fund invests in small, mid and large-cap stocks
  • A total return emphasis: the Fund seeks both capital appreciation and income growth over time.
Reasons To Invest
  • Robust dividend discipline and strong growth in the Fund's dividend over time
  • A naturally contrarian approach means the portfolio's profile is unlike that of many rival UK equity income funds
  • James Lowen

    Senior Fund Manager

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  • Clive Beagles

    Senior Fund Manager

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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 Dynamic Fund (onshore)

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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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...

Read More
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Investment Objective

The Fund aims to achieve long-term capital growth and to generate a dividend yield that is above that of the FTSE All-Share Index average. The Fund focuses predominantly on stocks within the FTSE 350 Index that generate a prospective yield above that of the FTSE All-Share Index average. The Fund's performance benchmark is the FTSE All-Share Total Return Index denominated in sterling.Please note that for capacity reasons the Fund is now 'soft-closed' to new direct investors.

Fund details

Data as at 30 April 2023
Fund size GBP 1.64bn
Benchmark FTSE All-Share TR 12pm adjusted
Domicile UK
Denomination GBP
Share classes

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

Fund ratings and awards

Data as at 30 April 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 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 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 30 April 2023

Economic data in the UK and Europe has generally continued to be a little firmer than expected. In the UK, the Citigroup economic surprise index hit a one year high driven by various positive readings, like those seen in Europe. The services PMI Index hit an 11-month high, backed up by some robust trading updates from many bellwether consumer exposed stocks in the UK, such as Whitbread and EasyJet. Activity in the housing market has continued to recover, with March transactions 26% higher than February and although retail sales volumes were down 0.9% month on month; volumes were still 0.6% higher over Q1. The UK labour market is exhibiting some interesting developments. Whilst unemployment has risen slightly to 3.8%, more people have re-entered the labour force, particularly those over 50 and students. This increased participation rate is exactly what the economy needs to expand and will also help limit wage inflation, with the rolling 3-month growth rate slowing to its lowest level for a year, despite all the industrial action. Inflation in the UK has come down less quickly than expected, with CPI staying above 10% this month, driven mainly by food price inflation of almost 20%. However, next month will see the 40% increase in gas and electricity prices drop out of the annual comparator, and as such, it will fall to between 7-8% in April, with a likely resumption of real wage growth by the end June.

Markets started to regain poise in April, following a difficult month in March dominated by news flow around SVB and Credit Suisse. The UK FTSE All Share was up 2.52% and the Fund, whilst up 0.98%, underperformed the market. Year-to-date, the Fund is up 2.02%, whilst the FTSE All Share is up 5.41%. Despite a better tone at the overall market level, there was still a ‘risk’ off mentality at a sector/stock level, which lasted until the last few days of the month. Defensives we do not own, like Astra Zeneca and Diageo, were a headwind to the Fund’s relative performance. The main drags on performance during the month were the mining sector, with Central Asia Metals and Anglo American particularly weak.

We noted last month we had added one new stock, which we now highlight, having built it to a c.40-50bps position. We will continue to build this holding, Marks & Spencer’s (MKS), as we see results and capital allocation decisions made. We sceptically approached our assessment of MKS given its history and our (negative) preconceptions given that history.

We believe investors are far too focused on trying to anticipate each twist and turn of global macro developments and are in danger of missing how startlingly low many stocks’ multiples are in the UK stock market. The decline of UK valuations relative to global peers has been well discussed in many places over the last few months and April has seen a resurgence in corporate activity for UK listed stocks, with private equity and industrial operators taking advantage of the embarrassing multiples on offer.  Unless the valuation gap closes, we can only see an acceleration in the number and potential scale of the companies leaving the UK quoted arena at high premiums to current share prices.

 

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 30 April 2023
A GBP share class, since launch (30 November 2004)

Return history (%)

Data as at 30 April 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. 


Mar 18 - Mar 19 Mar 19 - Mar 20 Mar 20 - Mar 21 Mar 21 - Mar 22 Mar 22 - Mar 23
Fund -1.43% -29.89% 49.13% 10.63% -0.95%

Monthly returns (%)

Data as at 30 April 2023
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Since inception
Fund 2004 3.74 3.74
Benchmark 2004 2.54 2.54
Fund 2005 3.45 1.37 -0.77 -3.49 3.35 3.96 2.88 0.93 1.13 -2.65 6.47 5.43 23.82
Benchmark 2005 1.70 2.99 -0.98 -2.61 4.15 3.25 3.48 0.83 3.47 -3.40 4.38 3.20 22.03
Fund 2006 3.29 5.45 1.66 -0.49 -5.60 2.25 0.26 2.24 2.91 2.63 1.13 3.77 20.83
Benchmark 2006 3.24 2.00 3.14 1.01 -5.67 2.79 1.55 0.59 1.51 2.90 0.38 2.56 16.85
Fund 2007 0.93 -0.88 2.41 2.07 1.73 -5.65 -2.97 -1.23 -1.69 3.19 -6.69 -1.00 -9.86
Benchmark 2007 0.07 0.22 2.45 2.85 2.90 -2.07 -2.65 -0.45 1.96 4.00 -4.38 0.55 5.22
Fund 2008 -8.88 0.89 -2.22 3.12 -0.37 -9.43 -0.13 5.90 -9.52 -12.34 2.81 5.72 -23.74
Benchmark 2008 -10.33 3.18 -2.53 5.65 0.99 -8.21 -2.44 4.35 -14.16 -13.79 0.44 5.13 -29.74
Fund 2009 -6.25 -6.09 2.54 16.79 3.98 -2.56 8.11 13.64 5.50 -1.66 -0.36 3.45 40.36
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 -2.20 1.83 6.56 0.64 -6.65 -5.37 6.86 -1.03 7.57 3.60 -2.11 6.78 16.25
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 1.64 1.88 -0.55 3.42 -0.85 -1.24 -1.99 -8.72 -4.01 10.53 -4.79 1.43 -4.42
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 4.27 4.61 1.49 -1.30 -6.55 5.12 2.86 4.03 2.20 2.76 0.70 1.73 23.56
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 6.76 2.55 2.22 1.17 3.74 -3.73 6.62 -1.25 1.84 5.46 -0.34 1.87 29.82
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 -1.91 5.04 -3.09 1.76 1.36 -1.75 0.19 1.85 -2.72 -0.56 1.28 -0.52 0.64
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 1.90 3.73 0.25 3.37 3.43 -5.13 0.42 -5.93 -3.15 4.28 -0.25 -1.71 0.52
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 -5.96 1.77 2.21 2.46 -0.55 -3.23 5.11 5.63 0.38 1.76 0.95 5.30 16.26
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 1.05 1.89 1.14 0.98 3.76 -1.20 2.01 -0.14 1.48 2.66 -0.28 3.21 17.74
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 -0.27 -3.23 -1.99 7.58 2.26 -0.94 -0.97 -2.97 0.46 -5.87 -3.15 -4.77 -13.61
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 5.95 0.98 0.88 3.77 -6.07 2.17 -1.02 -4.47 7.61 0.95 3.89 4.04 19.32
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 -4.46 -11.13 -25.32 9.15 0.08 1.97 -6.21 2.02 -4.54 -1.42 25.59 5.00 -16.14
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 -0.72 7.25 5.91 2.89 2.64 -1.89 0.94 2.89 -0.08 1.81 -4.34 5.12 24.13
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 2.32 -3.10 1.37 -1.46 2.98 -9.47 4.34 -1.81 -7.68 4.76 8.90 -1.01 -1.36
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 6.54 2.28 -7.39 0.94 1.87 298.50
Benchmark 2023 3.57 2.36 -3.00 2.52 5.41 247.24

Net yield

Net Yield %
Share class A - accumulating 5.51
Share class A - distributing 5.72
Share class B - accumulating 5.52
Share class B - distributing 5.74

Source and notes

JOHCM/FTSE Group/Bloomberg/Lipper.

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.

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 30 April 2023
Fund size GBP 1.64bn
Number of holdings 58

Top 10 holdings and active weights

Data as at 30 April 2023
Top 10 holdings
BP 6.61%
Glencore 5.30%
Barclays 4.06%
Natwest 3.47%
Aviva 3.44%
Standard Chartered 3.44%
Phoenix Group 3.18%
DS Smith 3.04%
BELLWAY 3.02%
Vistry Group 2.99%
Top 10 active weights
Barclays +3.01%
Phoenix Group +3.00%
Aviva +2.95%
BELLWAY +2.90%
Vistry Group +2.88%
Natwest +2.88%
DS Smith +2.88%
Glencore +2.84%
Standard Chartered +2.82%
ITV +2.74%

Sector breakdown

Data as at 30 April 2023
Portfolio Benchmark Relative
Financials 31.89% 22.29% 9.61%
Consumer Discretionary 20.24% 11.75% 8.49%
Industrials 16.27% 11.35% 4.92%
Energy 14.23% 11.35% 2.88%
Basic Materials 10.62% 7.24% 3.38%
Real Estate 1.77% 2.56% -0.79%
Telecommunications 1.73% 1.58% 0.15%
Utilities 1.38% 3.67% -2.29%
Technology 0.00% 1.07% -1.07%
Health Care 0.00% 11.56% -11.56%
Consumer Staples 0.00% 15.59% -15.59%
Cash 1.87% 0.00% 1.87%

Market cap breakdown

Data as at 30 April 2023
Portfolio Benchmark Relative
Large Cap 48.06% 83.95% -35.89%
Medium Cap 32.28% 13.75% 18.52%
Small Cap 17.79% 2.29% 15.83%
Cash 1.87% 0.00% 1.87%

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 Equity Income Fund 08/06/2023 A Accumulating GBP UK GB00B03KR500 4.291 0.026
UK Equities JOHCM UK Equity Income Fund 08/06/2023 A Accumulating GBP UK GB00B03KR500 4.291 0.026
UK Equities JOHCM UK Equity Income Fund 08/06/2023 A Accumulating GBP UK GB00B03KR500 4.291 0.026
UK Equities JOHCM UK Equity Income Fund 08/06/2023 A Distributing GBP UK GB00B03KP231 1.819 0.011
UK Equities JOHCM UK Equity Income Fund 08/06/2023 A Distributing GBP UK GB00B03KP231 1.819 0.011
UK Equities JOHCM UK Equity Income Fund 08/06/2023 A Distributing GBP UK GB00B03KP231 1.819 0.011
UK Equities JOHCM UK Equity Income Fund A GBP Ireland IE00BDGKPS78
UK Equities JOHCM UK Equity Income Fund 08/06/2023 B Accumulating GBP UK GB00B03KR831 3.937 0.024
UK Equities JOHCM UK Equity Income Fund 08/06/2023 B Accumulating GBP UK GB00B03KR831 3.937 0.024
UK Equities JOHCM UK Equity Income Fund 08/06/2023 B Accumulating GBP UK GB00B03KR831 3.937 0.024
UK Equities JOHCM UK Equity Income Fund 08/06/2023 B Distributing GBP UK GB00B03KR617 1.667 0.01
UK Equities JOHCM UK Equity Income Fund 08/06/2023 B Distributing GBP UK GB00B03KR617 1.667 0.01
UK Equities JOHCM UK Equity Income Fund 08/06/2023 B Distributing GBP UK GB00B03KR617 1.667 0.01
UK Equities JOHCM UK Equity Income Fund 08/06/2023 X Distributing GBP UK GB00BYV9S217 0.9107 0.0056
UK Equities JOHCM UK Equity Income Fund 08/06/2023 X Distributing GBP UK GB00BYV9S217 0.9107 0.0056
UK Equities JOHCM UK Equity Income Fund 08/06/2023 X Distributing GBP UK GB00BYV9S217 0.9107 0.0056
UK Equities JOHCM UK Equity Income Fund 08/06/2023 Y Accumulating GBP UK GB00B8FCHK57 1.736 0.01
UK Equities JOHCM UK Equity Income Fund 08/06/2023 Y Accumulating GBP UK GB00B8FCHK57 1.736 0.01
UK Equities JOHCM UK Equity Income Fund 08/06/2023 Y Accumulating GBP UK GB00B8FCHK57 1.736 0.01
UK Equities JOHCM UK Equity Income Fund 08/06/2023 Y Distributing GBP UK GB00B95FCK64 1.231 0.008
UK Equities JOHCM UK Equity Income Fund 08/06/2023 Y Distributing GBP UK GB00B95FCK64 1.231 0.008
UK Equities JOHCM UK Equity Income Fund 08/06/2023 Y Distributing GBP UK GB00B95FCK64 1.231 0.008
UK Equities JOHCM UK Equity Income Fund Y GBP Ireland IE00BDGKPT85

Dividend Rates

Funds paying quarterly dividends

JOHCM UK Equity Income Fund

Share class Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23
A distributing GBP 1.1681 2.3283 3.0863 1.2881 1.9828 3.4453 3.1410 1.8309 2.1053
A accumulating GBP 2.4649 4.9447 6.6368 2.8152 4.3509 7.6541 7.1149 4.2268 4.9097
B distributing GBP  1.0825 2.1559 2.8539 1.1897 1.8271 3.1746 2.8895 1.6822 1.9315
B accumulating GBP 2.2869 4.5836 6.1431 2.6020 4.0228 7.0604 6.5526 3.8884 4.5096
Y distributing GBP 0.7879 1.5709 2.0833 0.8697 1.3383 2.3274 2.1211 1.2376 1.4237
Y accumulating GBP 0.9944 1.9953 2.6787 1.1364 1.7602 3.0924 2.8757 1.7088 1.9315

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  2022 and pay date of 31 August 2023.

JOHCM UK Dynamic Fund (Offshore)

Share class Currency Pay date Dividend paid in  Dividend rate
Y GBP 31 Aug 2023 pence per share 1.7010

Funds paying annual dividends

All funds have a XD date of 31 December 2022 and pay date of 28 February 2023.


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 Dynamic Fund (Onshore)

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

Share class Currency Pay date Dividend paid in Dividend rate
A - distributing GBP 31 Aug 2023 pence per share 3.2905
A - accumulating GBP 31 Aug 2023 pence per share  4.9754
B - distributing GBP 31 Aug 2023 pence per share  2.9736
B - accumulating GBP 31 Aug 2023 pence per share 5.4873
Y - distributing GBP 31 Aug 2023 pence per share 2.0673
Y - accumulating GBP 31 Aug 2023 pence per share 2.8745

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

  • 31 May 2023

    UK Equity Income Bulletin

    The UK economy defies sceptics with upgraded forecasts, improved labour supply and resilient sectors

    Read More
  • 02 May 2023

    UK Equity Income Bulletin

    Economic stability, employment growth and embarrassing valuations – why are market participants seemingly unaware of the investment opportunity in the UK?

    Read More
  • 27 Apr 2023

    New Big Oil

    How can big oil solve the energy trilemma – security, affordability and sustainability?

    Read More
  • 11 Apr 2023

    Sustainable Energy

    Secure, affordable and sustainable energy – how do UK income investors approach the energy trilemma

    Read More
  • 04 Apr 2023

    UK Equity Income Bulletin

    Prospect of higher dividends mitigate a challenging month

    Read More
  • 15 Mar 2023

    Back to Banks

    Are you an investor who has a prejudice against UK banks? What would change your mind? Clive Beagles shares his views…

    Read More
  • 01 Mar 2023

    UK Equity Income Bulletin

    The UK economy continues to be more robust than consensus expectations…should investors reassess the UK? 

    Read More
  • 01 Feb 2023

    UK Equity Income Bulletin

    Inflationary pressures continue to fall, investor sentiment is beginning to change and UK valuations are starting to be appreciated

    Read More
  • 17 Jan 2023

    Global returns at a UK discount

    UK companies source their earnings from around the world. Why are they valued at a discount? 

    Read More
  • 03 Jan 2023

    UK Equity Income Bulletin

    Yields are likely to ease as central banks moderate tightening, but the UK market remains cheap for now

    Read More
  • 09 Dec 2022

    The Way Past Peak Inflation

    Signs of an easing in inflation, and a peak in interest rates, should support a recovery in equities, with UK value sectors looking attractive

    Read More
  • 01 Dec 2022

    UK Equity Income Bulletin

    Hopes of a peak in interest rates are supporting strong returns in UK equities

    Read More
  • 01 Nov 2022

    UK Equity Income Bulletin

    As the UK recovers from the controversial Mini Budget, operational performance remains strong, with more forecasts being exceeded than missed 

    Read More
  • 02 Oct 2022

    UK Equity Income Bulletin

    Despite pressure on UK confidence, there remain many excellent companies trading at historically high yields.

    Read More

Webcasts & Videos

  • JOHCM UK Equity Income Fund Q2 2023 Update

    27 Apr 2023 | 45 mins

  • JOHCM UK Equity Income Fund Q2 2023 Update

    27 Apr 2023 | 45 mins

  • JOHCM UK Equity Income Fund Q1 2023 Update

    24 Jan 2023 | 41 mins

  • JOHCM UK Equity Income Fund Q1 2023 Update

    24 Jan 2023 | 41 mins

  • James Lowen

    Senior Fund Manager

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  • Clive Beagles

    Senior Fund Manager

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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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