JOHCM Continental European Fund

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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

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  • Justin MacGregor

    Senior Analyst

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This is a marketing communication.

Information on the rights of investors can be found here.

The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investments include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

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JOHCM 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...

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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 August 2022
Fund size GBP 402.73m
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

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

This is a marketing communication.

Information on the rights of investors can be found here.

The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investments include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

Strategy Highlights

As at 31 August 2022

August, after an initial rally, finished with very weak equity performance, after the delusions over the possibility of peak yields and inflation were demolished by Fed Chair Jerome Powell’s hawkish Jackson Hole speech. The speech focussed upon the need to keep restrictive policy for a longer period so as to ensure that inflation returns to target levels of 2%; this led to interest rate expectations rising for the short-term and a fading of the view that US rates might actually start to fall next year. US 10-year yields rose by 54 basis points to 3.2% whilst German yields rose by an even greater 72 basis points to 1.54%, not least with expectations growing for a larger 75 basis point ECB rate rise in September. In Europe, inflation was again stronger at 9.1% for the flash reading. Dutch TTF natural gas futures rose by a further 25% in August and German baseload one-year forward power prices increased by 59% to €575 per MWh, as compared to a price of €40 at the end of 2019.

This was exacerbated by news of Gazprom cutting supply again due to unexpected maintenance on Nord Stream 1. The possibility of winter period gas rationing was thankfully reduced by news the European Union is set to meet its 80% gas storage filling goal two months ahead of target. The energy crisis has been further exacerbated by the low output from the French nuclear fleet and the effects of drought on both coal and hydro.

The fund gently outperformed in August, predominantly driven by allocation effects. Strong stock picking did come through in Deutsche Telekom, AXA and TotalEnergies amongst others, but was offset by a very poor performance from Sanofi. The latter was hit hard by concerns over the size of potential litigation costs coming from the drug Zantac, which might be considered carcinogenic due to possibly containing NDMA impurities. Sanofi distributed the heartburn drug in the US between 2017 and 2019, the drug was initially owned and distributed since the 1980s by Boehringer Ingelheim with which Sanofi undertook asset swaps in 2017. The share price reaction has been swift in likely pricing in a worst-case scenario; however, this is likely to remain a significant shadow for the stock until well into 2023 when the main cases take place.

Elsewhere, results from CRH reassured in terms of the group’s pricing power and the fiscal underpinning to the US outlook in regard to infrastructure investment. We slightly added to the banks sector weighting through the purchase of a small position in Bank of Ireland, where the benefits to come from rising rates look significantly underestimated versus the size of fears over the potential for slightly higher provisioning in a more recessionary climate.
 

This is a marketing communication.

Information on the rights of investors can be found here.

The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. 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.

KIIDs
(Key Investor Information Documents)

This is a marketing communication.

Information on the rights of investors can be found here.

The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investments include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

Percentage growth of the fund versus benchmark

Data as at 31 August 2022
A GBP share class, since launch (5 November 2001)

Return history (%)

Data as at 31 August 2022

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.
 


Jun 17 - Jun 18 Jun 18 - Jun 19 Jun 19 - Jun 20 Jun 20 - Jun 21 Jun 21 - Jun 22
Fund 2.94% 1.25% 1.73% 20.58% -8.79%

Monthly returns (%)

Data as at 31 August 2022
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Since inception
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
Fund 2021 -2.37 2.46 4.74 2.51 2.16 -1.41 0.25 4.86 -2.74 1.27 -2.95 5.90 15.12
Benchmark 2021 -1.90 -0.19 4.36 3.78 1.90 1.40 1.38 3.22 -3.44 1.94 -1.42 4.26 16.00
Fund 2022 -2.15 -5.98 3.19 -3.32 2.40 -8.80 3.64 -1.73 -12.71 460.53
Benchmark 2022 -6.17 -4.74 4.39 -2.89 0.77 -8.39 6.38 -2.22 -12.99 288.47

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

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.
 

This is a marketing communication.

Information on the rights of investors can be found here.

The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. The investment promoted concerns the acquisition of shares in a fund and not the underlying assets. Past performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Investments include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

Fund statistics

Data as at 31 August 2022
Fund size GBP 402.73m
Number of holdings 38

Top 10 holdings and active weights

Data as at 31 August 2022
Top 10 holdings
Deutsche Telekom 6.70%
Roche 4.98%
TOTALENERGIES 4.83%
AXA 4.73%
ASML Holding 4.40%
Bayer 3.88%
LVMH 3.78%
Novartis 3.70%
Siemens 3.62%
Nestle 3.51%
Top 10 active weights
Deutsche Telekom +5.75%
AXA +4.04%
Bayer +3.08%
EDP Energias De Portugal +2.89%
TOTALENERGIES +2.87%
Societe Generale +2.86%
Capgemini +2.82%
RWE +2.67%
CRH +2.51%
Veolia +2.31%

Sector breakdown

Data as at 31 August 2022
Portfolio Benchmark Relative
Health Care 18.13% 16.40% 1.72%
Financials 14.41% 15.19% -0.78%
Information Technology 13.43% 9.05% 4.38%
Consumer Staples 9.11% 11.96% -2.85%
Utilities 8.69% 4.48% 4.22%
Communication Services 8.38% 3.76% 4.61%
Industrials 8.04% 15.36% -7.33%
Energy 4.83% 4.07% 0.76%
Consumer Discretionary 4.62% 12.09% -7.47%
Materials 2.95% 6.63% -3.68%
Real Estate 0.00% 0.99% -0.99%
Cash 7.42% 0.00% 7.42%

Market cap breakdown

Data as at 31 August 2022
Portfolio Benchmark Relative
Large Cap 90.06% 99.00% -8.94%
Medium Cap 2.52% 0.97% 1.55%
Small Cap 0.00% 0.02% -0.02%
Cash 7.42% 0.00% 7.42%

This is a marketing communication.

Information on the rights of investors can be found here.

The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. 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

As at noon Share class Currency Domicile Sedol number NAV per share Change
JO Hambro Global Select Shariah Fund 05/10/2022 A USD Ireland BMZQQY2 0.937 0.004
JOHCM (ire) Uk Dynamic Fund 05/10/2022 EUR Y EUR Ireland BP6NT66 0.887 -0.009
USD Y USD Ireland BPP4K90 0.944 -0.013
JOHCM Asia ex Japan Fund 05/10/2022 A EUR Ireland B431KK7 2.370 0.071
A GBP Ireland B3RQ272 2.454 0.074
A USD Ireland B435PM6 1.743 0.047
B EUR Ireland B5L49R5 2.378 0.071
B GBP Ireland B3ZQS76 2.392 0.072
B USD Ireland BF7NZT0 1.754 0.047
Z GBP Ireland B44PG77 1.753 0.053
Z USD Ireland BVG7681 1.172 0.032
JOHCM Asia ex Japan Small and Mid Cap Fund 05/10/2022 A EUR Ireland B6R5VD9 2.513 0.028
A GBP Ireland B6R5LS4 2.918 0.032
A USD Ireland B6R5QW3 2.204 0.018
B EUR Ireland B6R5HM0 2.849 0.032
B GBP Ireland B6R63P8 2.832 0.031
B USD Ireland B6R5YM9 2.088 0.016
Z GBP Ireland B4X3T62 2.226 0.025
JOHCM Continental European Fund 05/10/2022 USD Y USD Ireland BPP4K89 0.990 -0.003
JOHCM Continental European Fund 05/10/2022 A EUR Ireland 3300923 3.936 -0.001
A GBP Ireland 3300912 4.925 -0.003
A USD Ireland BJ4G0G2 1.560 -0.001
A Hedged GBP Ireland BSJCJ49 1.347 0.000
B EUR Ireland 3300901 3.953 -0.002
B GBP Ireland 3100543 4.738 -0.002
B USD Ireland BJ4G0H3 1.587 -0.001
GBP X GBP Ireland BP6NT77 0.977 0.000
Y EUR Ireland B98YKX9 1.516 -0.001
Y GBP Ireland B993PD0 1.815 -0.001
Y Hedged GBP Ireland BSJCJ50 1.407 -0.001
JOHCM European Concentrated Value Fund 05/10/2022 A EUR Ireland BW0DJY9 0.873 -0.004
B EUR Ireland BW0DJZ0 0.865 -0.004
Z AUD Ireland BYNJFM8 0.966 -0.004
Z EUR Ireland BYNJFN9 0.804 -0.005
JOHCM European Select Values Fund 05/10/2022 A EUR Ireland 3290433 2.936 -0.027
A GBP Ireland 3290422 4.609 -0.043
B EUR Ireland 3290411 1.962 -0.018
B GBP Ireland 3290400 4.214 -0.039
Non-Distributing EUR Ireland BSFWK51 1.089 -0.010
X EUR Ireland B4K14L9 1.400 -0.013
Y EUR Ireland BMXC8L3 0.791 -0.007
JOHCM Global Emerging Markets Opportunities Fund 05/10/2022 A EUR Ireland B3ZBLW7 1.543 0.027
A GBP Ireland B4002N4 1.432 0.025
A USD Ireland B4M6CN0 1.052 0.017
B EUR Ireland B4TRCR0 1.527 0.027
B GBP Ireland B41RZ57 1.380 0.024
B USD Ireland B4XXMP2 1.375 0.020
Y USD Ireland BYSGJZ5 1.273 0.019
Y GBP Ireland BYSGJY4 1.725 0.030
Z CAD Ireland BBPK0L2 1.508 0.020
Z GBP Ireland B6R54W9 1.817 0.031
JOHCM Global Income Builder Fund 05/10/2022 A EUR Ireland BFZWPD3 1.081 0.007
A GBP Ireland BFZWPC2 1.070 0.008
A SGD Ireland BFZWPG6 0.954 0.003
A USD Ireland BFZWPF5 0.906 0.003
B EUR Ireland BFZWPJ9 1.032 0.007
Seed EUR Ireland BKF2GH9 0.967 0.007
Seed GBP Ireland BFZWPH7 1.126 0.007
Seed GBP Ireland BHR0DJ1 1.169 0.008
JOHCM Global Opportunities Fund (offshore) 05/10/2022 X Non-distributing NOK NOK Ireland BMFV6C5 10.662 0.045
JOHCM Global Opportunities Fund (offshore) 05/10/2022 A EUR Ireland B7MR557 2.681 0.015
A GBP Ireland B89PQM5 2.472 0.014
A USD Ireland B89JY23 2.099 0.005
A Hedged EUR Ireland BFZWWX2 0.982 0.003
B EUR Ireland B80FZF0 2.442 0.014
B GBP Ireland BF7NZS9 2.692 0.014
B USD Ireland B8295C7 1.976 0.004
X EUR Ireland BJ5JW42 1.224 0.007
X GBP Ireland BQVC9L0 2.114 0.011
X Hedged GBP Ireland BF29TX5 1.064 0.003
Z EUR Ireland BDZD4M4 1.218 0.007
Z GBP Ireland B83MS15 0.993 0.005
JOHCM Global Opportunities Fund (onshore) 05/10/2022 A Accumulating GBP UK BJ5JMC0 1.292 0.007
A Accumulating Hedged GBP UK BKDV8G1 1.049 0.003
A Distributing GBP UK BJ5JMD1 1.216 0.007
X Accumulating GBP UK BJ5JMF3 1.261 0.006
X Distributing GBP UK BJ5JMG4 1.217 0.006
JOHCM Global Select Fund 05/10/2022 A EUR Ireland B3DBRP4 3.914 0.057
A GBP Ireland B3DBRN2 4.245 0.061
A USD Ireland B3T31Z2 1.990 0.023
B EUR Ireland B3DBRM1 3.750 0.054
B GBP Ireland B3DBRL0 4.047 0.057
B USD Ireland B5L7L67 2.247 0.026
Z GBP Ireland B3DCMB8 3.080 0.044
JOHCM Uk Dynamic Fund 05/10/2022 Y GBP Ireland BDGKPZ4 0.906 -0.010
JOHCM UK Dynamic Fund (onshore) 05/10/2022 A Accumilating GBP UK B4T7HR5 2.627 -0.028
A Distributing GBP UK B4T8552 1.737 -0.019
B Accumulating GBP UK B4T7JX5 2.897 -0.030
B Distributing GBP UK B4TXJ33 1.570 -0.016
X Accumulating GBP UK BJ7HNB8 1.027 -0.011
X Distributing GBP UK BJ5JMB9 0.908 -0.009
Y GBP UK BDZRJ21 1.092 -0.011
Y Accumulating GBP UK BDZRJ10 1.518 -0.016
JOHCM UK Equity Income Fund 05/10/2022 A Accumulating GBP UK B03KR50 3.878 -0.097
A Distributing GBP UK B03KP23 1.680 -0.042
B Accumulating GBP UK B03KR83 3.570 -0.089
B Distributing GBP UK B03KR61 1.544 -0.039
X Distributing GBP UK BYV9S21 0.840 -0.021
Y GBP UK B95FCK6 1.135 -0.029
Y Accumulating GBP UK B8FCHK5 1.568 -0.039
JOHCM UK Growth Fund 05/10/2022 A GBP Ireland 3300934 3.364 -0.015
B GBP Ireland 3100554 2.912 -0.013
Non-distributing EUR Ireland BLLV8D7 1.807 -0.008
Non-distributing USD Ireland BLLV8C6 1.668 -0.012
X EUR Ireland BLLV882 1.821 -0.008
X EUR Ireland BLLV8B5 1.700 -0.007
X GBP Ireland BLLV893 1.678 -0.008
X USD Ireland BLLV871 1.682 -0.012
JOHCM UK Opportunities Fund 05/10/2022 A Accumulating GBP UK B0LLB64 2.969 -0.014
A Distributing GBP UK B3K76Q9 1.900 -0.009
B Accumulating GBP UK B0LLB75 2.744 -0.013
B Distributing GBP UK B3K76P8 1.781 -0.008
X Accumulating GBP UK BQJZQQ5 1.369 -0.006
X Distributing GBP UK B95MSF4 1.079 -0.005
Y GBP UK B95J5C1 1.281 -0.006
Y Accumulating GBP UK B95HP81 1.663 -0.008
Regnan Global Equity Impact Solutions Fund (offshore) 05/10/2022 A EUR Ireland BN2BD91 0.875 0.009
A GBP Ireland BN2BD80 0.857 0.008
A USD Ireland BN2BDC4 0.720 0.005
A Hedged EUR Ireland BN2BDB3 0.693 0.006
B USD Ireland BN2BDH9 0.711 0.005
B EUR Ireland BN2BDF7 0.865 0.009
B GBP Ireland BN2BDD5 0.850 0.009
B Hedged EUR Ireland BN2BDG8 0.679 0.004
Seed EUR Ireland BN2BDS0 0.889 0.009
Seed GBP Ireland BN2BDR9 0.871 0.009
Seed USD Ireland BN2BDV3 0.728 0.006
Seed Hedge EUR Ireland BN2BDT1 0.699 0.005
Z GBP Ireland BN2BDN5 0.868 0.009
Regnan Global Equity Impact Solutions Fund (offshore) 05/10/2022 Y CAD CAD Ireland BMWMY49 0.869 0.006
Regnan Global Equity Impact Solutions Fund (onshore) 05/10/2022 A Accumulating GBP UK BMCZDD0 1.012 0.010
F Accumulating GBP UK BMCZDJ6 1.025 0.010
Y Accumulating GBP UK BMCZDK7 1.015 0.010
Regnan Sustainable Water and Waste Fund (offshore) 05/10/2022 A EUR Ireland BLPKC72 0.901 0.005
A USD Ireland BLPKC94 0.794 0.003
A GBP Ireland BLPKC61 0.925 0.006
B EUR Ireland BLPKCC7 0.903 0.005
B GBP Ireland BLPKCB6 0.927 0.005
B USD Ireland BLPKF84 0.795 0.002
Y GBP Ireland BLPKF95 0.926 0.005
Y EUR Ireland BLPKFC8 0.901 0.004
Y USD Ireland BLPKFF1 0.794 0.003
Regnan Sustainable Water and Waste Fund (onshore) 05/10/2022 A Accumulating GBP UK BMYXD32 0.992 0.006
F Accumulating GBP UK BMYXQ55 0.999 0.006
Y Accumulating GBP UK BMYXQ55 0.999 0.006

Dividend Rates

Funds paying monthly dividends

JOHCM Global Income Builder Fund

Share class 01/22 02/22 03/22 04/22 05/22 06/22 07/22 08/22 09/22 10/22
A  GBP 0.3789 0.3654 0.3251 0.3709 0.3481 0.3848 0.3507 0.3439 0.3982 0.3509
A EUR 0.4003 0.3863 0.3443 0.3889 0.3655 0.3990 0.3571 0.3622 0.4055 0.3547
A USD   0.3812 0.3676 0.0349 0.3634 0.3242 0.3611 0.3151 0.3128 0.3431 0.2930
A SGD  0.3823 0.3665 0.3256 0.3641 0.3321 0.3661 0.3248 0.3189 0.3548 0.3107
B EUR 0.3850 0.3712 0.3306 0.3731 0.3503 0.3820 0.3416 0.3462 0.3872 0.3385
Seed GBP 0.3978 0.3838 0.3416 0.3470 0.3262 0.3562 0.3189 0.3619 0.4193 0.3695

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 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22
A distributing GBP 1.5930 1.1154 1.2632 1.0771 1.1681 2.3283 3.0863 1.2881 1.9828 3.4453
A accumulating GBP 3.2391 2.2958 2.6218 2.2581 2.4649 4.9447 6.6368 2.8152 4.3509 7.6541
B distributing GBP  1.4790 1.0379 1.1739 0.9997 1.0825 2.1559 2.8539 1.1897 1.8271 3.1746
B accumulating GBP 3.0210 2.1395 2.4391 2.0980 2.2869 4.5836 6.1431 2.6020 4.0228 7.0604
Y distributing GBP 1.0730 0.7534 0.8514 0.7263 0.7879 1.5709 2.0833 0.8697 1.3383 2.3274
Y accumulating GBP 1.3051 0.9242 1.0570 0.5363 0.9944 1.9953 2.6787 1.1364 1.7602 3.0924

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 semi-annual dividends

All funds have a XD date of 1 July 2022 and pay date of 31 August 2022.

JOHCM UK Dynamic Fund

Share class Currency Pay date Dividend paid in  Dividend rate
Y GBP 31 Aug 2022 pence per share 2.1779

Funds paying annual dividends

All funds have a XD date of 31 December 2021 and pay date of 28 February 2022.


JOHCM Asia ex Japan Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2022 pence per share 0.0000
A EUR 28 Feb 2022 cents per share 0.0000
A USD 28 Feb 2022 cents per share 0.0000
B GBP 28 Feb 2022 pence per share 0.0000
B EUR 28 Feb 2022 cents per share 0.0000
B USD 28 Feb 2022 cents per share 0.0000
Z GBP 28 Feb 2022 cents per share 1.2717
Z USD 28 Feb 2022 cents per share 1.0094

JOHCM Asia ex Japan Small and Mid Cap Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2022 pence per share 0.0000
A EUR 28 Feb 2022 cents per share 0.0000
A USD 28 Feb 2022 cents per share 0.0000
B GBP 28 Feb 2022 pence per share 0.0000
B EUR 28 Feb 2022 cents per share 0.0000
B USD 28 Feb 2022 cents per share 0.0000
Z GBP 28 Feb 2022 cents per share 0.0000

JOHCM Concentrated Global Share Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2022 pence per share 0.0000

JOHCM Continental European Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2022 pence per share 8.6863
A EUR 28 Feb 2022 cents per share 7.2518
A - hedge GBP 28 Feb 2022 pence per share 2.3783
B GBP 28 Feb 2022 pence per share 5.7899
B EUR 28 Feb 2022 cents per share 5.0477
B - hedge USD 28 Feb 2022 cents per share 1.8425
Y GBP 28 Feb 2022 pence per share 3.4475
Y - hedge GBP 28 Feb 2022 pence per share 2.6955
Y EUR 28 Feb 2022 cents per share 3.0103

JOHCM European Select Values Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2022 pence per share 3.4279
A EUR 28 Feb 2022 cents per share 2.2816
B GBP 28 Feb 2022 pence per share 0.4023
B EUR 28 Feb 2021 cents per share 0.1956
Y EUR 28 Feb 2022 cents per share 0.6184

JOHCM European Concentrated Value Fund

Share class Currency Pay date Dividend paid in Dividend rate
A EUR 28 Feb 2022 cents per share 0.8126
B EUR 28 Feb 2022 cents per share 0.3158
Z EUR 28 Feb 2022 cents per share 1.5455

JOHCM Global Emerging Markets Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2022 pence per share 2.8311
A EUR 28 Feb 2022 cents per share 3.1858
A USD 28 Feb 2022 cents per share 2.4633
B GBP 28 Feb 2022 pence per share 1.8347
B EUR 28 Feb 2022 cents per share 2.1208
B USD 28 Feb 2022 cents per share 2.1654
Y GBP 28 Feb 2022 pence per share 3.6898
Y USD 28 Feb 2022 cents per share 3.1258
Z GBP 28 Feb 2022 cents per share 5.3164

JOHCM Global Opportunities Fund (onshore)

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2022 pence per share 2.5871
A EUR 28 Feb 2022 cents per share 5.0441
A USD 28 Feb 2022 cents per share 4.8886
B EUR 28 Feb 2022 cents per share 4.6750
B USD 28 Feb 2022 cents per share 4.6865
A - hedged GBP 28 Feb 2022 pence per share 2.6653
A - hedged EUR 28 Feb 2022 cents per share 2.2077
X GBP 28 Feb 2022 cents per share 2.4784
X EUR 28 Feb 2022 cents per share 2.2293

JOHCM Global Opportunities Fund (offshore)

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2022 pence per share 4.5789
A EUR 28 Feb 2022 cents per share 5.1902
A USD 28 Feb 2022 cents per share 4.6148
B GBP 28 Feb 2022 pence per share 5.0376
B EUR 28 Feb 2022 cents per share 4.7737
B USD 28 Feb 2022 cents per share 4.3909
A - hedged EUR 28 Feb 2022 cents per share 2.3372
X GBP 28 Feb 2022 cents per share 3.9139
Z GBP 28 Feb 2022 cents per share 1.8229
X - hedged GBP 28 Feb 2022 cents per share 2.4327
X EUR 28 Feb 2022 cents per share 2.3658

JOHCM Global Select Fund

Share class Currency Pay date Dividend paid in  Dividend rate
A GBP 28 Feb 2022 pence per share 0.0000
A EUR 28 Feb 2022 cents per share 0.0000
A USD 28 Feb 2022 cents per share 0.0000
B GBP 28 Feb 2022 pence per share 0.0000
B EUR 28 Feb 2022 cents per share 0.0000
B USD 28 Feb 2022 cents per share 0.0000
Z GBP 28 Feb 2022 pence per share 2.9482
Z USD 28 Feb 2022 cents per share 2.5658


JOHCM UK Dynamic Fund

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 30 June 2022 pence per share 4.2307
A - accumulating GBP 30 June 2022 pence per share 6.2512
B - distributing GBP 30 June 2022 pence per share 3.8318
B - accumulating GBP 30 June 2022 pence per share 6.9098
Y - distributing GBP 30 June 2022 pence per share 2.6563
Y - accumulating GBP 30 June 2022 pence per share 3.6096

JOHCM UK Growth Fund

Share class Currency Pay date Dividend paid in Dividend rate
A GBP 28 Feb 2022 pence per share 5.8783
B GBP 28 Feb 2022 pence per share 3.1115
X GBP 28 Feb 2022 pence per share 3.1342

JOHCM UK Opportunities Fund

Share class Currency Pay date Dividend paid in Dividend rate
A - distributing GBP 28 Feb 2022 pence per share 5.5257
A - accumulating GBP 28 Feb 2022 pence per share 8.4140
B - distributing GBP 28 Feb 2022 pence per share 5.2121
B - accumulating GBP 28 Feb 2022 pence per share 7.8256
Y - accumulating GBP 28 Feb 2022 pence per share 3.7193
Y - distributing GBP 28 Feb 2022 pence per share 4.7060

 

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

  • 25 Mar 2022

    Europe: Where are we now?

    JOHCM Continental European Fund

    Read More
  • 02 Feb 2022

    Europe comes to the fore

    Paul Wild, manager of the JOHCM Continental European Fund, on Europe's improving macro picture and how he is positioned to benefit. 

    Read More
  • 30 Mar 2021

    Europe one year on...

    A look at the investment landscape in Europe and the key areas where we are finding opportunities. 

    Read More
  • 30 Sep 2020

    Three reasons to look again at Europe

    Is it time for investors to look again at European equities?

    Read More
  • 19 Jun 2020

    Europe three months on – a steadier ship

    The JOHCM Continental European Fund team point to signs of encouragement in European markets and economies.

    Read More
  • 23 Mar 2020

    The world has changed

    Paul Wild, manager of the JOHCM Continental European Fund, gives his take on the Coronavirus-driven sell-off. 

    Read More

Webcasts & Videos

  • JOHCM Continental European Fund Q2 2022 Update

    29 Jul 2022 | 24 mins

  • JOHCM Continental European Fund Q1 2022 Update

    26 Apr 2022 | 32 mins

  • JOHCM Continental European Fund Q4 2021 Update

    02 Feb 2022 | 22 mins

  • JOHCM Continental European Fund Q3 2021 Update

    04 Nov 2021 | 25 mins

  • Paul Wild

    Senior Fund Manager

    small image path
  • Justin MacGregor

    Senior Analyst

    small image path

This is a marketing communication.

Information on the rights of investors can be found here.

The registrations of the funds described in this communication may be terminated by JOHCM at its discretion from time to time. 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 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...

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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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Environmental and Social Characteristics

Amongst other characteristics, the Fund promotes environmental and social characteristics and invests in companies that apply good corporate governance.  JOHCM Funds (Ireland) Limited, the Fund’s manager, has therefore categorised the Fund as meeting the provisions set out in Article 8 of EU Regulation 2019/2088 on sustainability-related disclosures in the financial services sector (“SFDR”).  

J O Hambro Capital Management Limited (“Investment Manager”) seeks to avoid investing in companies which employ practices that contribute to significant environmental and social harms. The Investment Manager focuses on the incremental direction of travel that a company is on and considers whether a company is contributing to or undermining the UN Sustainable Development Goals when assessing its environmental management and social impact. In particular, the Fund seeks to avoid companies with poor performance in relation to carbon emissions, diversity, wages and treatment of employees. 

In addition to considering Environmental Social and Governance (“ESG”) key performance indicators, the Fund applies exclusions to support the avoidance of harms. In order to support the reduction of adverse environmental impacts of the Fund’s portfolio, the Investment Manager excludes: 

  1. any company which derives greater than 5% revenue from thermal coal mining; 
  2. any company which derives greater than 5% revenue from oil sands; 
  3. any company which derives greater than 5% revenue from arctic drilling; 
  4. any company which derives greater than 5% revenue from hydraulic fracturing; and 
  5. any company which derives greater than 35% revenue from coal-based power generation. 

These selection criteria may not be disapplied or overridden. 

In order to measure and monitor the environmental characteristics of the Fund, the Investment Manager will review the carbon footprint of the portfolio and environmental data published by its investee companies.  For the social characteristics of the Fund, the Investment Manager will review whether investee companies have implemented appropriate policies and structures to support sustainable business practices.   

Although the Fund may invest in economic activities that contribute to an environmental objective within the meaning of the EU’s Sustainable Finance Disclosure Regulation (SFDR), the Investment Manager is not currently in a position to assess the proportion, as a percentage of the Fund’s portfolio, of investments in environmentally sustainable activities which are aligned to the EU’s Taxonomy Regulation (TR) (Regulation (EU) 2020/852) and amending Regulation (EU) 2019/2088.

This is due to a lack of reliable, timely and verifiable data for the Investment Manager to make a full and accurate assessment of the investments of the Fund against the TR’s Technical Screening Criteria in respect of climate change mitigation and climate change adaptation. 

As a result, the Investment Manager is unable to determine whether the underlying investments in the Fund contribute to climate change mitigation and/or climate change adaptation, or whether the Fund has investments in economic activities that qualify as environmentally sustainable pursuant to the TR. As such, it has been determined that, 0% of the Fund’s investments are in economic activities that qualify as environmentally sustainable under the TR.

The Investment Manager is keeping this situation under review and will revisit the TR disclosure requirements once sufficient data is available.
 

Governance

Investee companies must follow good governance practices. This requires investee companies to adhere to minimum standards in various areas including sound management structures, employee relations, remuneration of staff and tax compliance. The Investment Manager is a signatory to the UK Stewardship Code 2012, is requesting to be a signatory to the UK Stewardship Code 2020 (together the “Code”) and is a signatory to the UN Principles for Responsible Investment (the “UNPRI”). As a signatory to the Code and the UNPRI, the good governance practices of investee companies are assessed by the Investment Manager prior to making an investment and periodically thereafter. 

Index

The Fund uses the MSCI Europe ex UK NR Index for performance fee calculation purposes only and it is not, nor is it intended to be, aligned and/or consistent with the environmental and social characteristics promoted by the Fund. 

Periodic Reports

A description of the extent to which environmental and social characteristics are met will be available as part of the annual report which will be published on this website once available. The Fund’s most recent annual report does not include any information pursuant to SFDR.  

Implementing exclusionary screens

In implementing our exclusionary screens, the Investment Manager utilises the business involvement screening service offered by our third-party provider, ISS. As such, we rely upon ISS’s business involvement definitions, data and assessments.  

The exclusion criteria referred to above will be applied prior to making any investment and the Fund’s portfolio will be monitored for any investments which breach these exclusion criteria on a periodic basis. 

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