JOHCM UK Opportunities Fund

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Fund Description

Fund managers Rachel Reutter and Michael Ulrich focus firstly on preserving a client’s capital and secondly, on growing that capital. Growth will be achieved over the long term through a concentrated portfolio of low risk business models purchased at attractive valuations. The Fund typically invests in larger companies that operate with multiple products across multiple geographies. These characteristics result in a more diverse, stable and resilient stream of company cash flows.

The team believe markets are cyclical, inefficient and prone to bouts of irrational behaviour where capital can be permanently destroyed. During such periods the managers may hold high levels of cash in order to protect the capital entrusted to them.
 


 

Investment Strategy
  • The team use top-down thematic research to identify  ‘following winds’ along with analysis of economic and investment cycles. This approach ensures the portfolio benefits from positive and often structural trends that persist for long periods of time.  The team then apply a rigorous quality control in order to identify companies which are able to generate predictable and growing cash flows on a forecast basis. The final element of analysis is the application of a valuation control which emphasises absolute, not relative valuation. Valuation is viewed as art not science. 
  • The fund managers believe that sell discipline is essential to protect client capital.  The managers implement a sell-to-zero policy when material downside risk is identified. The team takes high conviction positions in 20-40 stocks and investments are made irrespective of benchmark weightings. 
  • Risk is defined as the probability and scale of a capital loss and not deviation from the benchmark. Within investments risk is seen as possible impairment to cash-flow not the short-term move in a share price. 
Reasons To Invest
  • Focus on capital preservation and absolute performance over the long-term sets the fund apart from competitor funds chasing short term performance.  
  • Value-add from where assessment of top-down thematic research meets rigorous bottom-up company analysis.  
  • High-conviction positions in 20-40 stocks made irrespective of benchmark weightings. 
  • The fund has established a long and successful track record and has a clear investment process which has been tested over many market cycles.
  • Rachel Reutter

    Senior Fund Manager

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  • Michael Ulrich

    Senior Fund Manager

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  • Roshni Rajan

    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.

Other UK Equity Funds

JOHCM UK Dynamic Fund

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 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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Investment Objective

The Fund aims to achieve consistent capital appreciation over the longer term by investing in stocks of primarily UK-listed large and mid-sized companies. Up to 10% of the Fund may be in international stocks. A thematic, top-down process is used to identify stock ideas and then married to a rigorous approach to valuation. Portfolio construction is benchmark-unaware with roughly equally-weighted positions in typically 30-40 stocks reflecting high conviction management.

Fund details

Data as at 31 July 2020
Fund size GBP 333.59m
Benchmark FTSE All-Share TR 12pm adjusted
Domicile UK
Denomination GBP
Share classes
A accumulating GBP (Launch date) 30-November-2005
A distributing GBP (Launch date) 08-December-2008
B accumulating GBP (Launch date) 30-November-2005
B distributing GBP (Launch date) 08-December-2008
Unit type Distribution & accumulation
XD Date 31 December
Payment date 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 codes
ISIN SEDOL
A accumulating GBP GB00B0LLB641 B0LLB64
A distributing GBP GB00B3K76Q93 B3K76Q9
B accumulating GBP GB00B0LLB757 B0LLB75
B distributing GBP GB00B3K76P86 B3K76P8

Fund ratings and awards

Data as at 31 July 2020
  • 5 Stars
  • 5 star
  • RaynerSpencerMills
  • FEInvest_Approved_logo_yellowBG
Notes

©2020 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 30/06/2020.

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 Global 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 July 2020

Our investment objective is to preserve and grow client capital over the long term.  The near-term path out of the crisis is unknowable and this means, to try to achieve our objective, we have created a portfolio of companies focused on long-term structural opportunities which are being run in a sustainable way, rather than being reliant on a short-term recovery.

We have been buying businesses with management teams that are willing and able to invest behind structural growth opportunities that should last decades rather than months. We have used our sell-to-zero discipline to remove those where headwinds have accelerated. We retain our preference for large multi-product and multi-geography businesses that provide stability through a diverse set of cash generating assets.  Valuation of growth assets requires making assumptions of about a company’s long term prospects. We remain disciplined in selling where those prospects diminish or simply become too uncertain.

As we emerge from the deluge of interim results, it is encouraging to see some companies we hold reporting an uptick in opportunities to invest and grow. Here are a few examples of where structural growth has accelerated:

• Intertek is using its worldwide network of over 1000 labs and strong market position to invest in new areas of testing and certification. It offers an industry-wide Health, Safety and Wellbeing assurance programme. It is expanding its relationships with food and consumer goods companies in supply chain audit and traceability of products and has the world’s first certification programme that verifies carbon intensity for oil and gas companies. These and many other growth areas are clear tailwinds for the $250bn global Quality Assurance market.

• Serco has reported year on year organic revenue growth of 15% in the first half of 2020 with EBIT increasing by 53% year on year, having seen an acceleration in new contracts coming into the Covid-19 crisis. The tailwind of governments needing to deliver more public services of higher quality for less money has been amplified by the crisis, and governments will need the skills, resources, innovation and agility of the private sector to deliver it. Serco has worked hard to improve its relationship with government and is run cautiously in both contract-writing and its balance sheet.

• GlaxoSmithKline’s investments in the group’s vaccine adjuvant technologies, manufacturing and refrigerated distribution network have put them in a position to help produce 1bn doses of Covid-19 vaccine in 2021. The group’s vaccine business revenues were already growing at mid-single digits and the step change focus on vaccines is going to accelerate this.

We anticipate the path ahead is going to be bumpy but the Fund is well-positioned for longer-term structural growth, is invested in large, liquid companies with the capacity to increase position sizes at the lower end of the portfolio and into our well-researched watch list when the opportunities come along.

 

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 Reporting

KIIDs
(Key Investor Information Documents)

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.

Percentage growth of the fund versus benchmark

Data as at 31 July 2020
A GBP share class, since launch (30 November 2005)

Return history (%)

Data as at 31 July 2020

Standardised Performance

Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. 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. 
 


Jun 15 - Jun 16 Jun 16 - Jun 17 Jun 17 - Jun 18 Jun 18 - Jun 19 Jun 19 - Jun 20
Fund 8.84% 10.12% 2.67% 4.48% -5.61%

Monthly returns (%)

Data as at 31 July 2020
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Since inception
Fund 2005 3.83 3.83
Benchmark 2005 3.20 3.20
Fund 2006 2.92 4.48 1.35 -0.25 -5.87 1.30 1.74 1.37 3.96 2.56 0.56 3.63 18.80
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 0.83 0.53 1.88 2.63 1.44 -3.15 -2.23 2.33 1.80 4.84 -1.67 1.50 10.96
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 -7.41 1.85 -0.19 1.81 0.69 -6.27 0.43 4.38 -9.92 -12.22 1.05 7.48 -18.59
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 -2.71 -6.55 -2.26 6.71 0.78 -1.69 5.91 6.39 5.13 1.03 0.79 4.52 18.44
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 -2.24 2.50 6.05 -0.15 -4.51 -1.09 3.51 -0.65 6.14 1.25 -2.43 5.32 13.83
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 -1.00 1.82 0.22 3.18 1.79 -1.71 -1.34 -4.95 -0.46 6.73 -1.58 2.47 4.77
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 -0.19 5.67 1.33 -1.19 -3.25 3.73 3.06 1.63 -0.29 0.86 0.34 -0.40 11.56
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 5.30 2.16 3.71 0.36 3.51 -3.39 4.73 -1.46 0.15 3.74 2.32 22.84
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 -3.43 4.61 -0.60 1.39 3.28 -1.72 -1.48 2.41 -2.27 -0.41 1.51 0.18 3.20
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 4.45 2.02 -1.69 2.10 3.40 -4.87 2.01 -3.98 -0.31 4.37 2.30 -1.72 7.82
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 -2.08 1.79 3.22 0.45 0.77 2.00 3.81 1.70 0.11 0.22 -1.67 2.82 13.75
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 -1.28 1.48 1.39 -0.76 4.40 -2.30 -0.29 0.86 -0.60 0.43 -0.75 0.72 3.19
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 -1.35 -3.53 -0.15 5.16 2.31 0.07 0.38 -0.86 0.66 -2.25 1.06 -3.05 -1.85
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 2.39 0.74 2.98 1.29 -1.71 2.98 1.79 -1.44 0.99 -1.64 2.13 1.99 13.06
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 -2.02 -7.22 -11.82 8.26 3.28 1.43 -0.53 -9.56 182.70
Benchmark 2020 -2.84 -9.37 -15.89 8.64 2.17 0.72 -2.68 -19.42 103.92

Net yield

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

Net Yield %
Share class A - accumulating 3.29
Share class A - distributing 3.40
Share class B - accumulating 3.30
Share class B - distributing 3.40

Source and notes

JOHCM/FTSE Group/Bloomberg/Lipper.

Data shown net of fees, net income reinvested. Performance of other share classes may vary and is available on request. Please note that all fund performance is shown against the FTSE All-Share TR Index. 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.

J O Hambro Capital Management Ltd is licensed by FTSE to redistribute the FTSE All-Share Total Return Index. All rights in and to the Index and trade mark vest in FTSE and/or its licensors (including the Financial Times Limited and the London Stock Exchange PLC), none of whom shall be responsible for any error or omission in the Index.

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 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 July 2020
Fund size GBP 333.59m
Number of holdings 34

Top 10 holdings and active weights

Data as at 31 July 2020
Top 10 holdings
SERCO GROUP 3.58%
GlaxoSmithKline 3.55%
Unilever 3.54%
HOMESERVE 3.52%
Reckitt Benckiser 3.43%
Vodafone 3.23%
PZ CUSSONS 3.10%
Smith & Nephew 3.08%
Barrick Gold 3.07%
SSE 3.06%
Top 10 active weights
SERCO GROUP +3.48%
HOMESERVE +3.32%
PZ CUSSONS +3.08%
Barrick Gold +3.07%
TATE & LYLE +2.85%
Morrison +2.75%
QinetiQ +2.56%
Sage +2.53%
UDG HEALTHCARE +2.37%
Smith & Nephew +2.37%

Sector breakdown

Data as at 31 July 2020
Portfolio Benchmark Relative
Industrials 23.68% 12.25% 11.43%
Consumer Services 19.42% 11.48% 7.94%
Consumer Goods 15.11% 15.70% -0.58%
Health Care 9.10% 11.67% -2.57%
Basic Materials 8.41% 8.94% -0.53%
Utilities 6.09% 3.52% 2.56%
Telecommunications 3.23% 2.25% 0.97%
Technology 2.95% 1.21% 1.74%
Financials 0.00% 25.24% -25.24%
Oil & Gas 0.00% 7.74% -7.74%
Cash 12.02% 0.00% 12.02%

Market cap breakdown

Data as at 31 July 2020
Portfolio Benchmark Relative
Large Cap 68.89% 80.06% -11.17%
Medium Cap 19.09% 16.67% 2.42%
Small Cap 0.00% 3.27% -3.27%
Cash 12.02% 0.00% 12.02%

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 14/08/2020 A GBP Ireland B3RQ272 2.301 0.005
A USD Ireland B435PM6 1.884 0.005
A EUR Ireland B431KK7 2.153 0.013
B GBP Ireland B3ZQS76 2.272 0.006
B USD Ireland BF7NZT0 1.920 0.006
B EUR Ireland B5L49R5 2.188 0.011
Z USD Ireland BVG7681 1.259 0.003
Z GBP Ireland B44PG77 1.634 0.004
JOHCM Asia ex Japan Small and Mid Cap Fund 14/08/2020 A GBP Ireland B6R5LS4 2.365 0.025
A USD Ireland B6R5QW3 2.059 0.024
A EUR Ireland B6R5VD9 1.993 0.027
B GBP Ireland B6R63P8 2.326 0.027
B USD Ireland B6R5YM9 1.979 0.025
B EUR Ireland B6R5HM0 2.273 0.034
Z GBP Ireland B4X3T62 1.788 0.021
JOHCM Continental European Fund 14/08/2020 A GBP Ireland 3300912 4.571 -0.072
A USD Ireland BJ4G0G2 1.358 -0.017
A EUR Ireland 3300923 3.538 -0.045
A Hedged GBP Ireland BSJCJ49 1.193 -0.015
B GBP Ireland 3100543 4.406 -0.070
B USD Ireland BJ4G0H3 1.387 -0.017
B EUR Ireland 3300901 3.562 -0.044
Y GBP Ireland B993PD0 1.684 -0.026
Y EUR Ireland B98YKX9 1.364 -0.017
Y Hedged GBP Ireland BSJCJ50 1.248 -0.015
JOHCM European Concentrated Value Fund 14/08/2020 A EUR Ireland BW0DJY9 0.944 -0.010
B USD Ireland BW0DK13 1.092 -0.012
B EUR Ireland BW0DJZ0 0.939 -0.009
Z AUD Ireland BYNJFM8 1.128 -0.007
Z EUR Ireland BYNJFN9 0.871 -0.007
JOHCM European Select Values Fund 14/08/2020 A GBP Ireland 3290422 4.949 -0.071
A EUR Ireland 3290433 3.054 -0.034
B GBP Ireland 3290400 4.530 -0.066
B EUR Ireland 3290411 2.044 -0.022
Non-Distributing EUR Ireland BSFWK51 1.128 -0.012
X EUR Ireland B4K14L9 1.463 -0.016
JOHCM Global Emerging Markets Opportunities Fund 14/08/2020 A GBP Ireland B4002N4 1.314 -0.007
A USD Ireland B4M6CN0 1.110 -0.006
A EUR Ireland B3ZBLW7 1.371 -0.003
B GBP Ireland B41RZ57 1.262 -0.008
B USD Ireland B4XXMP2 1.449 -0.007
B EUR Ireland B4TRCR0 1.353 -0.004
Y GBP Ireland BYSGJY4 1.584 -0.009
Y USD Ireland BYSGJZ5 1.350 -0.008
Z GBP Ireland B6R54W9 1.656 -0.009
Z CAD Ireland BBPK0L2 1.544 -0.006
Z AUD Ireland B5W6ZB6 1.779 -0.003
JOHCM Global Income Builder Fund 14/08/2020 GBP Ireland BFZWPH7 1.062 -0.007
A SGD Ireland BFZWPG6 1.007 -0.006
A GBP Ireland BFZWPC2 1.017 -0.007
A USD Ireland BFZWPF5 0.993 -0.006
A EUR Ireland BFZWPD3 0.997 -0.003
B EUR Ireland BFZWPJ9 0.973 -0.003
EUR EUR Ireland BKF2GH9 0.883 -0.003
GBI GBP Ireland BHR0DJ1 1.007 -0.006
HEU EUR Ireland BJGW7C3 0.953 -0.005
JOHCM Global Opportunities Fund (offshore) 14/08/2020 A GBP Ireland B89PQM5 2.028 -0.016
A USD Ireland B89JY23 1.984 -0.014
A EUR Ireland B7MR557 2.132 -0.010
B USD Ireland B8295C7 1.899 -0.014
B EUR Ireland B80FZF0 1.973 -0.009
B GBP Ireland BF7NZS9 2.245 -0.018
IHX EUR Ireland BFZWWX2 0.964 -0.007
X GBP Ireland BQVC9L0 1.731 -0.013
X EUR Ireland BJ5JW42 0.972 -0.005
X GBP Ireland BK8M212 0.965 -0.008
X Hedged GBP Ireland BF29TX5 1.023 -0.007
Z GBP Ireland B83MS15 0.802 -0.006
Z GBP Ireland BD6R4D6 1.491 -0.012
Z EUR Ireland BDZD4M4 0.952 -0.005
JOHCM Global Opportunities Fund (onshore) 14/08/2020 A Accumulating GBP UK BJ5JMC0 1.016 -0.008
A Distributing GBP UK BJ5JMD1 1.001 -0.007
AHA GBP UK BKDV8G1 1.000 -0.007
X Accumulating GBP UK BJ5JMF3 0.986 -0.008
X Distributing GBP UK BJ5JMG4 0.996 -0.008
JOHCM Global Select Fund 14/08/2020 A USD Ireland B3T31Z2 2.057 -0.005
A EUR Ireland B3DBRP4 3.401 -0.001
A GBP Ireland B3DBRN2 3.808 -0.013
B GBP Ireland B3DBRL0 3.686 -0.011
B USD Ireland B5L7L67 2.355 -0.006
B EUR Ireland B3DBRM1 3.305 0.000
Z GBP Ireland B3DCMB8 2.731 -0.008
Z USD Ireland B4V7J00 2.308 -0.006
JOHCM Japan Fund 14/08/2020 A GBP Ireland 3438879 2.124 -0.003
A EUR Ireland 3438880 1.491 0.002
A Hedged GBP Ireland B5LD7P6 1.425 -0.003
A JPY JPY Ireland 3438891 286.219 -0.700
B GBP Ireland 3438846 2.071 -0.003
B EUR Ireland 3438857 1.444 0.003
B Hedged GBP Ireland B6386R1 1.449 -0.003
B JPY JPY Ireland 3438868 282.724 -0.696
JOHCM UK Dynamic Fund 14/08/2020 A Accumulating GBP UK B4T7HR5 1.968 -0.035
A Distributing GBP UK B4T8552 1.414 -0.025
B Accumulating GBP UK B4T7JX5 2.194 -0.038
B Distributing GBP UK B4TXJ33 1.292 -0.022
X Accumulating GBP UK BJ7HNB8 0.766 -0.013
X Distributing GBP UK BJ5JMB9 0.736 -0.013
Y GBP Ireland BDGKPZ4 0.737 -0.013
Y GBP UK BDZRJ21 0.886 -0.016
Y Accumulating GBP UK BDZRJ10 1.134 -0.020
JOHCM UK Equity Income Fund 14/08/2020 A Accumulating GBP UK B03KR50 2.818 -0.051
A Distributing GBP UK B03KP23 1.358 -0.024
B Accumulating GBP UK B03KR83 2.622 -0.047
B Distributing GBP UK B03KR61 1.262 -0.023
X Distributing GBP UK BYV9S21 0.676 -0.012
Y GBP UK B95FCK6 0.915 -0.017
Y Accumulating GBP UK B8FCHK5 1.136 -0.021
JOHCM UK Growth Fund 14/08/2020 A GBP Ireland 3300934 2.850 -0.031
B GBP Ireland 3100554 2.470 -0.027
REU EUR Ireland BLLV8D7 1.458 -0.011
RUD USD Ireland BLLV8C6 1.602 -0.016
X USD Ireland BLLV871 1.604 -0.016
X EUR Ireland 1.434 -0.016
X EUR Ireland BLLV882 1.460 -0.011
X GBP Ireland BLLV893 1.413 -0.015
JOHCM UK Opportunities Fund 14/08/2020 A Accumulating GBP UK B0LLB64 2.875 -0.044
A Distributing GBP UK B3K76Q9 1.933 -0.029
B Accumulating GBP UK B0LLB75 2.695 -0.040
B Distributing GBP UK B3K76P8 1.838 -0.027
X Accumulating GBP UK BQJZQQ5 1.323 -0.020
X Distributing GBP UK B95MSF4 1.089 -0.017
Y GBP UK B95J5C1 1.299 -0.020
Y Accumulating GBP UK B95HP81 1.604 -0.024

Dividend Rates

Funds paying monthly dividends

JOHCM Global Income Builder Fund

Share class 11/19 12/19 01/20 02/20 03/20 04/20 05/20 06/20 07/20 08/20
A  GBP 0.4537 0.4276 0.4668 0.4491 0.4176 0.4276 0.4164 0.4095 0.4554 0.4276
A EUR 0.4650 0.4426 0.4862 0.4680 0.4171 0.4180 0.4202 0.4065 0.4551 0.4180
A USD   0.4384 0.4117 0.4592 0.4372 0.3853 0.4154 0.3897 0.3833 0.4212 0.4154
A SGD  0.4398 0.4164 0.4573 0.4418 0.4079 0.4224 0.4070 0.3970 0.4323 0.4224
B EUR 0.4579 0.4355 0.4775 0.4595 0.4088 0.4083 0.4115 0.3978 0.4351 0.4083
Seed 0.4714 0.0411 0.4859 0.4677 0.3691 0.4464 0.4342 0.4272 0.4752 0.4464

Net dividends quoted in the local share class currency.

If you require the dividends for previous time periods, please contact RBC directly on 00353 14406555 or by fax on 00353 16131132 (0845 450 1974 and 02077475690 have been disabled).

Funds paying quarterly dividends

JOHCM UK Equity Income Fund

Share class Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
A distributing GBP 2.7765 1.9368 2.0957 3.6523 2.7970 2.0409 1.5930 1.1154
A accumulating GBP 5.2101 3.6835 4.0293 7.1000 5.5449 4.1082 3.2391 2.2958
B distributing GBP  2.6034 1.8139 1.9597 3.4124 2.6093 1.9017 1.4790 1.0379
B accumulating GBP 4.8980 3.4588 3.7777 6.6508 5.1861 3.8367 3.0210 2.1395
Y distributing GBP 1.8670 1.3028 1.4102 2.4582 1.8832 1.3744 1.0730 0.7534
Y accumulating GBP 2.0960 1.4823 1.6220 2.8588 2.2334 1.6547 1.3051 0.9242

Dividends are quoted and paid in pence per share

XD dates: 31 March, 30 June, 30 September and 31 December
Payment dates: 31 May, 31 August, 30 November and 28 February

The quarterly table above shows the last two years net dividends (on a XD rather than a paid basis) for this fund. If you require the dividends for previous time periods, please contact RBC directly on 00353 14406555 or by fax on 00353 16131132 (0845 450 1974 and 02077475690 have been disabled).

Funds paying annual dividends

All funds have a XD date of 31 December 2019 and pay date of 28 February 2020.


JOHCM Asia ex Japan Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 1.8021
A EUR 28 Feb 2020 cents per share 1.7923
A USD 28 Feb 2020 cents per share 1.4855
B GBP 28 Feb 2020 pence per share 0.6266
B EUR 28 Feb 2020 cents per share 0.0638
B USD 28 Feb 2020 cents per share 1.6124

JOHCM Asia ex Japan Small and Mid Cap Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 3.1300
A EUR 28 Feb 2020 cents per share 2.8099
A USD 28 Feb 2020 cents per share 2.7475
B GBP 28 Feb 2020 pence per share 1.8821
B EUR 28 Feb 2020 cents per share 1.9280
B USD 28 Feb 2020 cents per share 1.6124

JOHCM Concentrated Global Share Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2020 pence per share 0.09794

JOHCM Continental European Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 2.4706
A EUR 28 Feb 2020 cents per share 7.4192
A - hedge GBP 28 Feb 2020 pence per share 9.0139
B GBP 28 Feb 2020 pence per share 6.5954
B EUR 28 Feb 2020 cents per share 5.6691
B - hedge USD 28 Feb 2020 cents per share 2.1446
Y GBP 28 Feb 2020 pence per share 3.0314
Y - hedge GBP 28 Feb 2020 pence per share 2.7274
Y EUR 28 Feb 2020 cents per share 3.0314

JOHCM European Select Values Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2020 pence per share 5.9865
A EUR 28 Feb 2020 cents per share 3.9287
B GBP 28 Feb 2020 pence per share 2.9895
B EUR 28 Feb 2020 cents per share 1.4341

JOHCM European Concentrated Value Fund

Share class Currency Pay date Dividend paid in Dividend rate
A EUR 28 Feb 2020 cents per share 1.6278
B USD 28 Feb 2020 cents per share 1.1828
B EUR 28 Feb 2020 cents per share 1.0740

JOHCM Global Emerging Markets Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 3.3106
A EUR 28 Feb 2020 cents per share 3.6734
A USD 28 Feb 2020 cents per share 2.8168
B GBP 28 Feb 2020 pence per share 2.4157
B EUR 28 Feb 2020 cents per share 2.7523
B USD 28 Feb 2020 cents per share 2.7885
Y GBP 28 Feb 2020 pence per share 4.2322
Y USD 28 Feb 2020 cents per share 3.6147

JOHCM Global Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 5.0670
A EUR 28 Feb 2020 cents per share 5.6662
A USD 28 Feb 2020 cents per share 4.9928
B GBP 28 Feb 2020 pence per share 5.6608
B EUR 28 Feb 2020 cents per share 5.2893
B USD 28 Feb 2020 cents per share 4.8215

JOHCM Global Select Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2020 pence per share 2.8206
A EUR 28 Feb 2020 cents per share 2.6793
A USD 28 Feb 2020 cents per share 1.5358
B GBP 28 Feb 2020 pence per share 0.3902
B EUR 28 Feb 2020 cents per share 0.3720
B USD 28 Feb 2020 cents per share 0.2511

JOHCM Japan Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 3.1582
A EUR 28 Feb 2020 cents per share 2.3586
A JPY 28 Feb 2020 yen per share 437.0683
A - hedged GBP 28 Feb 2020 pence per share 2.1461
B GBP 28 Feb 2020 pence per share 1.9398
B EUR 28 Feb 2020 cents per share 1.4400
B JPY 28 Feb 2020 yen per share 271.9972
B - hedged GBP 28 Feb 2020 pence per share 1.3891

JOHCM UK Dynamic Fund

Share class Currency Pay date Dividend paid in Dividend rate
A - distributing GBP 28 Feb 2020 pence per share 8.3375
A - accumulating GBP 28 Feb 2020 pence per share 1.1143
B - distributing GBP 28 Feb 2020 pence per share 7.6644
B - accumulating GBP 28 Feb 2020 pence per share 1.2491
Y - distributing GBP 28 Feb 2020 pence per share 5.2184
Y - accumulating GBP 28 Feb 2020 pence per share 6.4131
Y GBP 28 Feb 2020 pence per share 4.3172

JOHCM UK Growth Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2020 pence per share 7.3614
B GBP 28 Feb 2020 pence per share 5.0086

JOHCM UK Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A - distributing GBP 28 Feb 2020 pence per share 6.4553
A - accumulating GBP 28 Feb 2020 pence per share 9.3148
B - distributing GBP 28 Feb 2020 pence per share 6.1496
B - accumulating GBP 28 Feb 2020 pence per share 8.7487
Y - accumulating GBP 28 Feb 2020 pence per share 1.6547
Y - distributing GBP 28 Feb 2020 pence per share 4.3346

 

Net dividends quoted in the local share class currency.

If you would like more information, please contact RBC directly on 00353 14406555 or by fax on 00353 16131132 (0845 450 1974 and 02077475690 have been disabled). Email us at oeicdealing@johcm.co.uk.

Views & News

  • 02 Apr 2020

    Time to adapt

    The very latest thinking and portfolio changes from the JOHCM UK Opportunities team. 

    Read More
  • 13 Mar 2020

    Be calm, considered and patient

    A letter from the JOHCM UK Opportunities team in light of the coronavirus-driven sell-off.  

    Read More
  • 17 Dec 2019

    Mind the value traps: beware the illusion of value

    Investors picking between value and growth styles are choosing different ways to lose money. 

    Read More
  • 05 Jun 2019

    UK Opportunities Fund Bulletin

    Navigating dysfunctional markets: Michael Ulrich and Rachel Reutter provide their 6 month Fund update.

    Read More
  • 04 Jan 2019

    UK Opportunities Fund Bulletin

    Michael Ulrich and Rachel Reutter, co-managers of the JOHCM UK Opportunties Fund, provide their outlook and an overview of the last six months.

    Read More

Webcasts & Videos

  • JOHCM UK Opportunities Fund June 2020 update

    24 Jun 2020 | 19 mins

  • Navigating dysfunctional markets: JOHCM UK Opportunities Fund Update

    26 Jun 2019 | 13 mins

  • JOHCM UK Opportunities Fund Update

    10 Jan 2019 | 16 mins

  • JOHCM UK Opportunities Fund Update

    19 Jun 2018 | 20 mins

  • Rachel Reutter

    Senior Fund Manager

    small image path
  • Michael Ulrich

    Senior Fund Manager

    small image path
  • Roshni Rajan

    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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