JOHCM Continental European Fund J O Hambro Capital Management (JOHCM)

Fund Description

Paul Wild manages this long-established fund with a pragmatic investment process that combines top-down economic and sector views with bottom-up stock picking. The Fund’s core style and risk profile has enabled it to outperform in both up and down markets and helped to build a market-leading performance track record since the Fund’s launch in 2001.

Investment Strategy

The Fund invests primarily in European blue chip and medium-sized companies
Paul Wild employs top-down sector analysis, focusing upon industry fundamentals, earnings growth potential and momentum, as well as simple sector valuations
Paul's bottom-up stock selection involves the identification of factors leading to potentially strong company earnings growth and positive earnings momentum (e.g. pricing power, brand positioning, financial management) and comparative valuation analysis
Paul adopts clear risk controls at both stock and industry level in order to maintain a low level of performance volatility.

Reasons To Invest

Diversified portfolio of Continental European equities primarily invested in blue chip and medium-sized companies
Focus upon the identification of both specific and industry-wide growth opportunities
The Fund has a long-term track record of combining superior capital growth with low performance volatility

Paul Wild

Senior Fund Manager
Nico Jackson

Fund Manager

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.

The Funds investment include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

Other European Equity Funds

JOHCM European Select Values Fund

Fund manager Robrecht Wouters has a highly selective, valuation-oriented investment style, which focuses on undervalued pan-European companies that generate high returns on capital. His stock-picking approach is unconstrained by benchmark weightings and combines traditional ‘value’ investing (focusing on attractive valuations) an...

JOHCM European Concentrated Value Fund

The Fund was launched in Q1 2015 as a large-cap, concentrated version of the highly successful JOHCM European Select Values Fund (ESV). Managed by experienced European equity investors Robrecht Wouters, long-standing lead manager of the ESV fund, and Luis Fananas, the duo have a highly selective, valuation-oriented investment approach which foc

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Investment Objective

The Fund aims to achieve long-term capital appreciation by investing in the equity securities of companies in the Europe ex UK region. Up to 15% of the Fund may be invested in companies domiciled outside the region.

Fund details

Data as at 31 December 2020

Fund size

GBP 475.52m

Benchmark

MSCI Europe ex UK NR 12pm adjusted

Domicile

Ireland

Denomination

GBP, EUR

Share classes

A USD - Hedge	(Launch date) 07-April-2014
B USD - Hedge	(Launch date) 28-March-2014
A GBP - Hedge	(Launch date) 26-November-2014
A GBP	(Launch date) 07-May-2003
A EUR	(Launch date) 07-May-2003
B GBP	(Launch date) 05-November-2001
B EUR	(Launch date) 05-November-2001

Unit type

Distribution

XD Date

31 December

Payment date

28 February

Minimum investment

A	GBP 1,000
B	GBP 1,000

Valuation point

Daily (12pm, UK time)

Dealing frequency

Daily 9-5pm

Fund codes

	ISIN	SEDOL
A GBP	IE0033009121	33009121
A EUR	IE0033009238	3300923
B GBP	IE0031005436	3100543
B EUR	IE0033009014	3300901
A USD - Hedge	IE00BJ4G0G26	BJ4G0G2
B USD - Hedge	IE00BJ4G0H33	BJ4G0H3
A GBP - Hedge	IE00BSJCJ493	BSJCJ49

Fund ratings and awards

Data as at 31 December 2020

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 31/10/2020.

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	RBC Investor Services Limited

Strategy Highlights

As at 31 December 2020

December finished with a vaccine-driven flourish, with the MSCI Europe ex-UK index level finishing almost on par with the end of 2019 after a truly unprecedented year.

The monthly market performance was empowered by technology and consumer discretionary, at the expense of healthcare and financials. Thankfully, the European Recovery Fund and next seven-year budget saw a step forwards, with a compromise found to allay the challenge from Poland and Hungary. Meanwhile, the ECB increased the size of its pandemic purchase programme, by €500bn to €1.85bn, over an extended time horizon to March 2022. In its role as the single supervisor of the European banking system, the ECB, as broadly expected, also requested the banks to limit dividend payments until September 2021 to further strengthen the financial system. A sense of relief greeted the Christmas Eve finalisation of the Brexit trade deal agreement, albeit critical parts of the relationship are still to be finalised.

The end of the month saw the US Congress finally agree an extension to the pandemic relief plan, which will extend many of the CARES Act measures.

Looking at economic data, the December Global Manufacturing PMI was unchanged on November at 53.8, whilst the Eurozone saw a strong increase to 55.2. Bond yields moved modestly in Europe over the month and were slightly higher in the US, where clarity on the political picture will be welcomed in January. The US dollar continued its recent weakness, enabling further strength in commodities, particularly oil where Brent finished the month at just below $52 per barrel.

Pleasingly, the Fund had a strong December, finishing the full year +2.7% above the index. Performance has been strong since the nadir in the markets in March, and the pragmatic decision to look through the crisis, without taking excessive balance sheet risk, has paid off. The crisis period enabled us to add key exposure to favoured themes in Europe, such as the Green Deal, which remain at the heart of the portfolio.

During December the key driver of performance was the industrials sector, where both Nobina and Siemens Energy were particularly strong. The full-year performance showed good contributions from both allocation and stock picking, with the strongest performance coming from technology, followed by utilities, communications and industrials. On a single stock level, the strongest contributions came from RWE, Metso Outotec, Capgemini, Alstom and Deutsche Post.

We enter 2021 with a thematically strong portfolio which, we believe, retains strong potential for further outperformance.

Fund Reporting

Monthly Portfolio Review

KIIDs
(Key Investor Information Documents)

A GBP	A EUR	A A-Hedge USD	A A-Hedge GBP
B GBP	B EUR	B B-Hedge USD
Y EUR	Y GBP	Y Y-Hedge GBP

Percentage growth of the fund versus benchmark

Data as at 31 December 2020

A GBP share class, since launch (5 November 2001)

Return history (%)

Data as at 31 December 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 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.

	Dec 15 - Dec 16	Dec 16 - Dec 17	Dec 17 - Dec 18	Dec 18 - Dec 19	Dec 19 - Dec 20
Fund	18.45%	12.66%	-10.81%	16.20%	10.23%

Monthly returns (%)

Data as at 31 December 2020

		Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Annual
Fund	2001											5.00		5.00
Benchmark	2001											2.66	1.65	4.35
Fund	2002	0.10	2.28	5.12	-1.95	-0.63	-6.45	-11.17	-0.55	-14.07	7.29	7.51	-7.98	-20.95
Benchmark	2002	-3.89	0.21	5.14	-2.96	0.23	-9.83	-12.74	1.16	-12.19	4.65	9.90	-8.63	-27.66
Fund	2003	-4.10	-0.38	0.63	14.29	6.36	2.06	4.55	3.48	-2.05	4.96	2.91	4.15	42.17
Benchmark	2003	-5.29	-1.81	2.40	10.42	4.26	2.05	3.32	2.74	-2.92	3.42	3.35	4.83	29.17
Fund	2004	1.69	-0.33	-4.10	3.05	-3.13	3.58	-3.96	0.26	5.08	1.17	4.03	4.35	11.69
Benchmark	2004	1.19	-0.59	-3.30	2.70	-1.74	3.69	-4.50	1.30	4.31	2.61	3.35	3.48	12.71
Fund	2005	0.68	3.32	-0.44	-4.54	6.06	2.32	8.98	-0.97	5.37	-6.47	7.31	4.96	28.53
Benchmark	2005	-0.86	3.26	-0.24	-4.21	5.82	2.39	7.75	-2.40	4.91	-3.71	5.76	4.26	24.16
Fund	2006	4.43	3.96	4.89	-0.21	-7.84	1.47	0.83	1.54	3.09	0.95	2.50	2.85	19.36
Benchmark	2006	3.05	3.01	4.17	0.22	-6.53	1.92	0.93	1.78	3.47	1.77	1.73	2.31	18.85
Fund	2007	1.43	-0.05	3.02	5.91	2.30	-1.81	-2.92	-0.60	4.71	1.20	-0.09	2.42	16.27
Benchmark	2007	0.96	0.50	2.80	6.02	2.87	-2.60	-2.56	-0.50	5.07	2.34	-0.80	2.03	16.91
Fund	2008	-11.60	3.69	-1.08	4.13	2.17	-7.85	-1.32	3.42	-13.87	-14.54	2.74	16.12	-20.34
Benchmark	2008	-12.19	3.75	0.35	4.48	2.09	-10.85	-0.33	3.30	-12.84	-17.26	1.57	17.29	-23.10
Fund	2009	-11.58	-11.99	4.71	12.80	2.33	-3.91	7.78	12.24	8.94	-3.74	0.62	3.48	19.37
Benchmark	2009	-12.76	-11.45	7.17	12.51	2.20	-3.30	8.63	9.89	6.91	-3.34	0.98	3.13	18.26
Fund	2010	-5.57	2.44	9.04	-3.48	-7.19	-3.48	5.64	-3.90	9.36	4.30	-5.00	9.38	9.73
Benchmark	2010	-7.02	2.43	8.31	-3.90	-6.78	-3.73	6.32	-4.42	10.16	3.44	-5.29	8.41	5.77
Fund	2011	2.50	1.28	1.02	3.52	-1.64	0.87	-6.50	-9.82	-6.31	13.17	-11.50	1.64	-13.37
Benchmark	2011	2.09	0.75	1.54	4.65	-2.31	0.34	-6.68	-11.40	-6.89	11.16	-8.58	1.64	-14.79
Fund	2012	5.31	6.42	-1.65	-6.09	-7.60	4.71	2.75	4.48	3.31	2.30	2.43	2.41	19.19
Benchmark	2012	5.11	5.90	-1.77	-5.10	-7.15	4.24	3.31	3.75	2.27	2.35	2.96	1.96	18.31
Fund	2013	10.09	0.89	-0.08	1.23	5.48	-4.88	7.05	-1.69	2.18	7.36	-0.16	1.28	31.59
Benchmark	2013	9.48	0.85	-0.84	2.20	3.32	-4.68	6.84	-2.18	2.22	5.94	-0.51	0.54	24.75
Fund	2014	-2.39	5.52	0.91	-1.55	2.37	-3.30	-4.11	2.03	0.59	-1.10	5.44	-3.51	0.29
Benchmark	2014	-3.76	5.77	1.23	0.08	1.51	-2.40	-3.06	1.65	-1.24	-0.87	4.92	-3.71	-0.43
Fund	2015	4.94	2.87	3.45	-0.72	2.45	-5.13	2.40	-3.73	-2.35	4.15	1.17	0.15	9.48
Benchmark	2015	4.29	2.67	3.72	-1.39	1.76	-5.88	2.43	-5.22	-2.87	4.85	1.46	-0.53	4.66
Fund	2016	-4.23	0.90	3.18	0.44	0.06	2.45	5.96	2.56	-0.21	6.43	-5.59	5.89	18.45
Benchmark	2016	-4.54	0.82	3.69	0.94	-0.70	2.42	6.60	2.18	-0.39	6.08	-5.16	6.31	18.89
Fund	2017	1.35	-1.02	3.43	0.80	5.58	-1.40	1.95	1.66	0.36	1.21	-0.60	-1.13	12.66
Benchmark	2017	1.67	0.27	4.63	1.46	5.24	-0.95	1.00	2.01	-0.81	2.05	-1.22	-0.44	15.71
Fund	2018	3.10	-3.36	-3.80	5.22	-0.98	-0.37	3.72	-1.51	0.05	-5.80	-1.15	-5.80	-10.81
Benchmark	2018	1.69	-3.51	-3.23	4.40	-0.31	-0.41	4.75	-0.97	-1.03	-5.97	-0.25	-5.16	-10.12
Fund	2019	2.53	2.09	1.48	3.30	-2.62	5.71	2.90	-2.16	0.53	-1.95	1.96	1.67	16.20
Benchmark	2019	3.65	1.74	1.82	4.92	-2.45	6.54	2.72	-1.37	0.40	-1.56	1.83	1.16	20.76
Fund	2020	-2.32	-7.65	-11.43	7.41	8.77	5.95	-0.95	2.73	-1.18	-7.56	16.59	2.86	10.23
Benchmark	2020	-1.23	-6.67	-11.33	6.73	7.06	4.40	-0.71	2.05	-0.08	-6.49	14.65	1.90	7.85

Source and notes

JOHCM/MSCI Barra/FTSE Group/Bloomberg/Lipper.

Data shown net of fees, net income reinvested. Please note that fund performance is shown against the MSCI Europe ex UK NR 12pm adjusted. Data for the period 5 November 2001 to 31 December 2012 is shown against the FTSE Eurofirst 300 ex UK TR Index. Performance of other share classes may vary and is available on request. Where shown, monthly returns table shows compounded discrete monthly performance. During the period 5 November 2001 to 7 May 2003 the performance record is based on the pre-existing share class that had a higher management fee.

Disclaimer

Fund statistics

Data as at 31 December 2020

Fund size	GBP 475.52m
Number of holdings	46

Top 10 holdings and active weights

Data as at 31 December 2020

Top 10 holdings

ENEL	5.29%
RWE	4.21%
Capgemini	4.15%
Novartis	4.03%
Alstom	4.00%
EIFFAGE	3.97%
ENGIE	3.72%
Siemens	3.56%
Koninklijke Philips	3.03%
NOBINA	2.92%

Top 10 active weights

ENEL	+4.21%
EIFFAGE	+3.86%
RWE	+3.85%
Capgemini	+3.82%
Alstom	+3.82%
ENGIE	+3.36%
NOBINA	+2.92%
NN GROUP	+2.56%
ASR NEDERLAND	+2.54%
Vivendi	+2.50%

Sector breakdown

Data as at 31 December 2020

	Portfolio	Benchmark	Relative
Industrials	21.90%	15.55%	6.35%
Financials	17.57%	14.70%	2.88%
Utilities	15.77%	5.41%	10.36%
Health Care	11.12%	15.39%	-4.26%
Information Technology	10.18%	9.48%	0.70%
Materials	8.46%	7.25%	1.21%
Consumer Staples	5.55%	11.15%	-5.60%
Consumer Discretionary	5.14%	12.92%	-7.78%
Communication Services	3.94%	3.75%	0.19%
Energy	0.00%	2.90%	-2.90%
Real Estate	0.00%	1.50%	-1.50%
Cash	0.38%	0.00%	0.38%

Market cap breakdown

Data as at 31 December 2020

	Portfolio	Benchmark	Relative
Large Cap	89.20%	99.61%	-10.41%
Medium Cap	7.50%	0.39%	7.11%
Small Cap	2.92%	0.00%	2.92%
Cash	0.38%	0.00%	0.38%

Fund	As at noon	Share class	Currency	Domicile	Sedol number	NAV per share	Change
JOHCM Asia ex Japan Fund	22/01/2021	A	EUR	Ireland	B431KK7	2.780	-0.011
		A	GBP	Ireland	B3RQ272	2.938	0.007
		A	USD	Ireland	B435PM6	2.509	-0.006
		B	GBP	Ireland	B3ZQS76	2.893	0.007
		B	USD	Ireland	BF7NZT0	2.550	-0.004
		B	EUR	Ireland	B5L49R5	2.818	-0.012
		Z	GBP	Ireland	B44PG77	2.080	0.005
		Z	USD	Ireland	BVG7681	1.671	-0.005
JOHCM Asia ex Japan Small and Mid Cap Fund	22/01/2021	A	GBP	Ireland	B6R5LS4	2.898	0.039
		A	USD	Ireland	B6R5QW3	2.629	0.024
		A	EUR	Ireland	B6R5VD9	2.467	0.018
		B	GBP	Ireland	B6R63P8	2.847	0.044
		B	USD	Ireland	B6R5YM9	2.524	0.027
		B	EUR	Ireland	B6R5HM0	2.806	0.025
		Z	GBP	Ireland	B4X3T62	2.192	0.034
JOHCM Continental European Fund	22/01/2021	A	GBP	Ireland	3300912	4.980	-0.037
		A	USD	Ireland	BJ4G0G2	1.507	-0.021
		A	EUR	Ireland	3300923	3.899	-0.055
		A Hedged	GBP	Ireland	BSJCJ49	1.317	-0.019
		B	GBP	Ireland	3100543	4.811	-0.035
		B	USD	Ireland	BJ4G0H3	1.542	-0.020
		B	EUR	Ireland	3300901	3.934	-0.054
		Y	GBP	Ireland	B993PD0	1.834	-0.013
		Y	EUR	Ireland	B98YKX9	1.502	-0.021
		Y Hedged	GBP	Ireland	BSJCJ50	1.376	-0.019
JOHCM European Concentrated Value Fund	22/01/2021	A	EUR	Ireland	BW0DJY9	1.037	-0.014
		B	EUR	Ireland	BW0DJZ0	1.033	-0.013
		Z	AUD	Ireland	BYNJFM8	1.177	-0.004
		Z	EUR	Ireland	BYNJFN9	0.953	-0.012
JOHCM European Select Values Fund	22/01/2021	A	GBP	Ireland	3290422	5.750	-0.048
		A	EUR	Ireland	3290433	3.589	-0.054
		B	GBP	Ireland	3290400	5.275	-0.044
		B	EUR	Ireland	3290411	2.406	-0.036
		Non-Distributing	EUR	Ireland	BSFWK51	1.336	-0.018
		X	EUR	Ireland	B4K14L9	1.724	-0.025
JOHCM Global Emerging Markets Opportunities Fund	22/01/2021	A	GBP	Ireland	B4002N4	1.571	-0.006
		A	USD	Ireland	B4M6CN0	1.384	-0.012
		A	EUR	Ireland	B3ZBLW7	1.659	-0.016
		B	GBP	Ireland	B41RZ57	1.514	-0.006
		B	USD	Ireland	B4XXMP2	1.812	-0.015
		B	EUR	Ireland	B4TRCR0	1.642	-0.016
		Y	GBP	Ireland	BYSGJY4	1.893	-0.007
		Y	USD	Ireland	BYSGJZ5	1.684	-0.014
		Z	GBP	Ireland	B6R54W9	1.973	-0.007
		Z	CAD	Ireland	BBPK0L2	1.842	-0.003
		Z	AUD	Ireland	B5W6ZB6	2.049	-0.001
JOHCM Global Income Builder Fund	22/01/2021		GBP	Ireland	BFZWPH7	1.068	0.000
		A	SGD	Ireland	BFZWPG6	1.019	-0.002
		A	GBP	Ireland	BFZWPC2	1.021	0.000
		A	USD	Ireland	BFZWPF5	1.040	-0.005
		A	EUR	Ireland	BFZWPD3	1.011	-0.007
		B	EUR	Ireland	BFZWPJ9	0.982	-0.008
		EUR	EUR	Ireland	BKF2GH9	0.898	-0.006
		GBI	GBP	Ireland	BHR0DJ1	1.033	-0.001
JOHCM Global Opportunities Fund (offshore)	22/01/2021	A	USD	Ireland	B89JY23	2.110	-0.015
		A	EUR	Ireland	B7MR557	2.198	-0.020
		A	GBP	Ireland	B89PQM5	2.068	-0.005
		B	GBP	Ireland	BF7NZS9	2.282	-0.005
		B	USD	Ireland	B8295C7	2.013	-0.013
		B	EUR	Ireland	B80FZF0	2.028	-0.018
		IHX	EUR	Ireland	BFZWWX2	1.021	-0.007
		X	GBP	Ireland	BQVC9L0	1.765	-0.004
		X	EUR	Ireland	BMCZLF8	1.074	-0.009
		X	EUR	Ireland	BJ5JW42	1.002	-0.009
		X	GBP	Ireland	BK8M212	1.007	-0.003
		X Hedged	GBP	Ireland	BF29TX5	1.086	-0.007
		Z	GBP	Ireland	B83MS15	0.820	-0.002
		Z	GBP	Ireland	BD6R4D6	1.561	-0.004
		Z	EUR	Ireland	BDZD4M4	0.985	-0.009
JOHCM Global Opportunities Fund (onshore)	22/01/2021	A Accumulating	GBP	UK	BJ5JMC0	1.060	-0.003
		A Distributing	GBP	UK	BJ5JMD1	1.019	-0.003
		AHA	GBP	UK	BKDV8G1	1.086	-0.008
		X Accumulating	GBP	UK	BJ5JMF3	1.031	-0.002
		X Distributing	GBP	UK	BJ5JMG4	1.016	-0.003
JOHCM Global Select Fund	22/01/2021	A	GBP	Ireland	B3DBRN2	4.465	0.016
		A	USD	Ireland	B3T31Z2	2.516	-0.001
		A	EUR	Ireland	B3DBRP4	4.034	-0.011
		B	GBP	Ireland	B3DBRL0	4.311	0.015
		B	USD	Ireland	B5L7L67	2.874	-0.003
		B	EUR	Ireland	B3DBRM1	3.910	-0.011
		Z	GBP	Ireland	B3DCMB8	3.211	0.012
		Z	USD	Ireland	B4V7J00	2.830	-0.002
JOHCM Japan Fund	22/01/2021	A	GBP	Ireland	B00X0H5	2.434	-0.003
		A	EUR	Ireland	3438880	1.728	-0.014
		A Hedged	GBP	Ireland	B5LD7P6	1.654	-0.007
		A JPY	JPY	Ireland	3438891	332.572	-1.504
		B	GBP	Ireland	3438846	2.379	-0.004
		B	EUR	Ireland	3438857	1.678	-0.013
		B Hedged	GBP	Ireland	B6386R1	1.687	-0.007
		B JPY	JPY	Ireland	3438868	329.172	-1.492
JOHCM UK Dynamic Fund	22/01/2021	A Accumulating	GBP	UK	B4T7HR5	2.365	-0.023
		A Distributing	GBP	UK	B4T8552	1.653	-0.016
		B Accumulating	GBP	UK	B4T7JX5	2.631	-0.025
		B Distributing	GBP	UK	B4TXJ33	1.506	-0.015
		X Accumulating	GBP	UK	BJ7HNB8	0.921	-0.009
		X Distributing	GBP	UK	BJ5JMB9	0.861	-0.008
		Y	GBP	Ireland	BDGKPZ4	0.862	-0.008
		Y	GBP	UK	BDZRJ21	1.036	-0.010
		Y Accumulating	GBP	UK	BDZRJ10	1.364	-0.013
JOHCM UK Equity Income Fund	22/01/2021	A Accumulating	GBP	UK	B03KR50	3.513	-0.045
		A Distributing	GBP	UK	B03KP23	1.665	-0.021
		B Accumulating	GBP	UK	B03KR83	3.261	-0.042
		B Distributing	GBP	UK	B03KR61	1.544	-0.020
		X Distributing	GBP	UK	BYV9S21	0.829	-0.011
		Y	GBP	UK	B95FCK6	1.123	-0.014
		Y Accumulating	GBP	UK	B8FCHK5	1.417	-0.018
JOHCM UK Growth Fund	22/01/2021	A	GBP	Ireland	3300934	3.679	-0.046
		B	GBP	Ireland	3100554	3.194	-0.041
		REU	EUR	Ireland	BLLV8D7	1.915	-0.037
		RUD	USD	Ireland	BLLV8C6	2.169	-0.037
		X	GBP	Ireland	BLLV893	1.833	-0.023
		X	USD	Ireland	BLLV871	2.174	-0.037
		X	EUR	Ireland	BLLV8B5	1.858	-0.024
		X	EUR	Ireland	BLLV882	1.919	-0.037
JOHCM UK Opportunities Fund	22/01/2021	A Accumulating	GBP	UK	B0LLB64	3.066	-0.013
		A Distributing	GBP	UK	B3K76Q9	2.013	-0.009
		B Accumulating	GBP	UK	B0LLB75	2.858	-0.012
		B Distributing	GBP	UK	B3K76P8	1.903	-0.009
		X Accumulating	GBP	UK	BQJZQQ5	1.410	-0.006
		X Distributing	GBP	UK	B95MSF4	1.140	-0.005
		Y	GBP	UK	B95J5C1	1.355	-0.005
		Y Accumulating	GBP	UK	B95HP81	1.714	-0.007
Regnan Global Equity Impact Solutions Fund (offshore)	22/01/2021		GBP	Ireland	BN2BDR9	1.006	0.003
			USD	Ireland	BN2BDV3	1.010	-0.002
		A	GBP	Ireland	BN2BD80	1.006	0.003
		A	USD	Ireland	BN2BDC4	1.010	-0.002
		A	EUR	Ireland	BN2BD91	1.006	-0.004
		B	GBP	Ireland	BN2BDD5	1.006	0.003
		B	USD	Ireland	BN2BDH9	1.010	-0.002
		B	EUR	Ireland	BN2BDF7	1.006	-0.004
		EUR	EUR	Ireland		1.006	-0.004
		HSE	EUR	Ireland		1.010	-0.001
		IHX	EUR	Ireland	BN2BDB3	1.010	-0.001
		RHX	EUR	Ireland	BN2BDG8	1.010	-0.001
		Z	GBP	Ireland		1.006	0.003
Regnan Global Equity Impact Solutions Fund (onshore)	22/01/2021	A Accumulating	GBP	UK	BMCZDD0	1.177	0.005
		DNA	GBP	UK	BMCZDJ6	1.180	0.006
		Y Accumulating	GBP	UK	BMCZDK7	1.178	0.006

Dividend Rates

Funds paying monthly dividends

JOHCM Global Income Builder Fund

Share class	02/20	03/20	04/20	05/20	06/20	07/20	08/20	09/20	10/20	11/20	12/20	01/21
A GBP	0.4491	0.4176	0.4276	0.4164	0.4095	0.4554	0.4276	0.3871	0.4592	0.4016	0.4363	0.4312
A EUR	0.4680	0.4171	0.4180	0.4202	0.4065	0.4551	0.4180	0.3838	0.4431	0.3928	0.4289	0.4233
A USD	0.4372	0.3853	0.4154	0.3897	0.3833	0.4212	0.4154	0.3885	0.4393	0.3865	0.4335	0.4393
A SGD	0.4418	0.4079	0.4224	0.4070	0.3970	0.4323	0.4224	0.3895	0.4425	0.3899	0.4296	0.4274
B EUR	0.4595	0.4088	0.4083	0.4115	0.3978	0.4351	0.4083	0.3745	0.4319	0.3826	0.4174	0.4115
Seed	0.4677	0.3691	0.4464	0.4342	0.4272	0.4752	0.4464	0.3402	0.3929	0.3484	0.4153	0.3757

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	Q3 20
A distributing GBP	2.7765	1.9368	2.0957	3.6523	2.7970	2.0409	1.5930	1.1154	1.2632
A accumulating GBP	5.2101	3.6835	4.0293	7.1000	5.5449	4.1082	3.2391	2.2958	2.6218
B distributing GBP	2.6034	1.8139	1.9597	3.4124	2.6093	1.9017	1.4790	1.0379	1.1739
B accumulating GBP	4.8980	3.4588	3.7777	6.6508	5.1861	3.8367	3.0210	2.1395	2.4391
Y distributing GBP	1.8670	1.3028	1.4102	2.4582	1.8832	1.3744	1.0730	0.7534	0.8514
Y accumulating GBP	2.0960	1.4823	1.6220	2.8588	2.2334	1.6547	1.3051	0.9242	1.0570

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.