As part of our preparations for Brexit JOHCM established an Irish UCITS management company, JOHCM Funds (Ireland) Limited, on 1 November 2019. It is the management company to the J O Hambro Capital Management Umbrella Fund plc, our Irish-domiciled fund range.
(A full breakdown of the 4 sub-funds in our UK-domiciled fund range and 12 sub-funds in our Irish-domiciled fund range can be found here.)
J O Hambro Capital Management Limited continues to provide investment management services to our Irish-domiciled fund range. It also continues to undertake all marketing and distribution activities for the Irish sub-funds outside of the EU.
Our full range of UK and Irish-domiciled sub-funds will remain open to UK investors irrespective of the outcome to post-transition trade talks between the UK and the EU. UK-based investors do not need to take any action and can continue to subscribe for shares in our UK and Irish-domiciled sub-funds as normal.
Our Irish UCITS sub-funds have been registered for distribution in the UK for many years, and we have applied for each sub-fund to enter into the FCA’s Temporary Permissions Regime. This aims to ensure that our Irish UCITS sub-funds will remain available to UK investors immediately after a hard Brexit, when we anticipate that our Irish UCITS fund range will apply to enter the new Offshore Fund Regime.
Our UK-domiciled fund range is unaffected by any outcome to the Brexit trade talks.
Our full range of Irish-domiciled sub-funds will remain open to investors based within the EU, regardless of the outcome of the Brexit trade talks. They do not need to take any action and can continue to subscribe for shares in Irish-domiciled sub-funds as normal.
Our UK-domiciled fund range will no longer have UCITS status after Brexit as it will be domiciled outside of the EU. EU-based investors will face some limitations in accessing our UK-domiciled fund range. Please contact your JOHCM Client Services representative if you wish to discuss this matter.
For other investors based out of the EU and the UK our activities outside the EU will be unaffected by Brexit.
The UK-domiciled Regnan Global Equity Impact Solutions Fund is unaffected by any outcome to the Brexit trade talks.UK-based investors can continue to invest in the sub-fund.
As you would expect, we continue to monitor developments in the Brexit negotiations closely. We will react accordingly in order to ensure the minimal possible disruption to our clients, our funds and our business.
Our Risk team rigorously monitors the liquidity of our funds using independent third party data to ensure all of our funds are able to meet any reasonably anticipated level of investor activity.
We do not own unlisted stocks in any of our funds and have no concerns over their liquidity profiles, in part because of our policy of restricting the size of our funds in order to protect the best interests of our clients.
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