JOHCM European Concentrated Value Fund

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Fund Description

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 focuses on undervalued pan-European large-cap companies that generate high returns on capital. Their stock-picking approach is unconstrained by benchmark weightings and combines traditional ‘value’ investing and ‘quality’ characteristics, such as high return on capital employed. The Fund will typically hold around 25 high conviction positions with a low portfolio turnover. The Fund will typically have sizeable sector biases, usually avoiding commodity-like industries and capital-intensive sectors such as financials.
Investment Strategy
  • Drawing upon their exhaustive analysis of individual stocks, Robrecht and Luis seek to find large-cap European stocks that they believe to be fundamentally undervalued in absolute terms (trading at a discount of 25+% to their intrinsic value)
  • They believe that, over time, 'value' stocks of companies with high returns on capital employed and strong cash flow should outperform
  • In their view, a portfolio comprising quality companies, characterised by established and superior business models, and high conviction investment ideas provides greater potential for capital appreciation
  • Please note that this fund, under UCITS regulations, may make use of derivatives for the purpose of efficient portfolio management. For further information on how derivatives are used in the management of the fund, please contact JOHCM Investor Relations.
Reasons To Invest
  • Since assuming leadership of the JOHCM European Select Values Fund in August 2008, Robrecht has established a reputation as a highly capable European stock picker
  • The Fund is aimed at long-term investors wishing to gain exposure to large-cap European equities via a low volatility approach that emphasises absolute value
  • Robrecht Wouters

    Senior Fund Manager

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  • Luis Fañanas

    Fund Manager

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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 European Equity Funds

JOHCM Continental European Fund

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 2

Read More
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...

Read More
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Investment Objective

The Fund aims to achieve long-term capital appreciation by investing in the equity securities of companies listed primarily on exchanges in Europe, including the UK.

Fund details

Data as at 30 June 2020
Fund size GBP 109.99m
Strategy size GBP 447.01m (as at 30 June 2020)
Benchmark MSCI Europe NR 12pm adjusted
Domicile Ireland
Denomination EUR, USD
Share classes
B EUR (Launch date) 05-January-2016
B USD (Launch date) 31-March-2015
A EUR (Launch date) 31-March-2015
B - SGD - Hedge (Launch date) 31-March-2017
Unit type Distribution
XD Date 31 December
Payment date 28 February
Minimum investment
A USB 1,000
B GBP 1,000
Valuation point Daily (12pm, UK time)
Dealing frequency Daily 9-5pm
Fund codes
ISIN SEDOL
B EUR IE00BW0DJZ06 BW0DJZ0
B USD IE00BW0DK137 BW0DK13
A EUR IE00BW0DJY98 BW0DJY9
B SGD - Hedge IE00BDZD4R98 BDZD4R9

Fund ratings and awards

Data as at 30 June 2020
  • 3 Stars
  • FE_RobrechtWouters
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

Investment manager J O Hambro Capital Management
Transfer agent and registrar RBC Investor Services Limited
Depositary RBC Investor 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.

Investment Background

As at 30 June 2020

Equity markets concluded the second quarter with a third consecutive strong month: European equities rallied by a further +2.3% in euro terms in June. The market’s strong Q2 performance followed unprecedented central bank liquidity interventions, record government stimulus packages across the globe and the lifting of Covid-19 lockdowns. Also aiding the gains was the low starting point for indices after a record -24.3% drop in the first quarter.

 

Strategy Highlights

With no exposure to financials (the strongest sector in June), the Fund struggled to keep up with the market without material positive stock-specific contributions to make up for the sector headwinds.

As we wrote in previous months, the Covid-19 market panic created several opportunities. But now, with markets still rising, our portfolio activity has quietened down again. By our calculations, with +71% upside to intrinsic value, the portfolio remains very attractive. This upside is not concentrated in a few positions but is well spread across the portfolio, which is what you should expect from a bottom-up, concentrated value strategy.

As the situation evolves, understanding and quantification of the Covid-19 risks improves. When we dissect the Fund from a risk perspective, around 41% of our holdings have not suffered in terms of cash flow from the pandemic, and indeed, these investments have been the best performers from a share price perspective year-to-date.

Around 52% our holdings have been disrupted (but not closed down) by Covid-19. Typically these are cyclicals and industrials holdings, but this group also includes quality defensive names where distribution channels have been disrupted. The Fund’s new investments year-to-date all belong to this category as the Covid-19 market disruption created significant opportunities. Subsequently, these stocks have, in general, been the best performers from their mid-March lows.

Finally, cash flows in around 4% of our investments have been hit directly and hard, either because of the nature of the company’s business (retail) or because its customers (aerospace, food catering) were forced to close. Share prices here have not bounced back (yet) as cash flow visibility and balance sheet uncertainty remains. There is significant optionality but our individual position sizes here are small, so we can cope with the risks and be patient.

 

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)

A EUR
B USD B EUR

 

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 30 June 2020
A GBP share class, since launch (31 March 2015)

Return history (%)

Data as at 30 June 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. 


Jun 15 - Jun 16 Jun 16 - Jun 17 Jun 17 - Jun 18 Jun 18 - Jun 19 Jun 19 - Jun 20
Fund -4.11% 16.54% -0.83% 2.36% -12.66%

Monthly returns (%)

Data as at 30 June 2020
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Since inception
Fund 2015 -0.60 3.32 -5.26 2.36 -9.34 -1.66 8.90 3.10 -4.21 -4.50
Benchmark 2015 -0.17 2.72 -5.06 2.90 -8.20 -4.44 8.06 3.01 -5.07 -7.14
Fund 2016 -4.92 0.33 3.07 0.11 2.02 -2.71 3.97 0.41 -1.33 -1.46 -0.53 3.40 1.99
Benchmark 2016 -7.85 -1.73 2.70 2.48 1.80 -5.50 4.11 1.62 -1.57 0.29 0.97 5.16 1.68
Fund 2017 1.35 3.65 3.03 2.37 1.39 -0.64 -1.47 -1.21 2.93 1.84 -0.63 -0.27 12.87
Benchmark 2017 0.93 2.09 3.01 2.21 1.80 -1.92 -0.86 -1.25 3.60 2.21 -1.10 -0.23 10.81
Fund 2018 1.47 -3.60 -2.52 1.63 2.36 -1.10 2.05 0.46 0.91 -6.03 -0.38 -5.77 -10.50
Benchmark 2018 1.91 -3.83 -2.32 4.54 1.06 -1.42 3.11 -2.09 0.47 -5.64 -0.97 -5.37 -10.57
Fund 2019 5.57 3.52 1.32 2.33 -6.20 5.54 0.46 -2.02 0.47 -2.61 0.67 8.77
Benchmark 2019 6.36 3.77 2.29 3.67 -5.24 4.53 0.48 -1.01 3.11 1.48 2.90 1.65 26.18
Fund 2020 -1.91 -8.85 -14.78 11.39 3.30 2.75 -9.92 -3.59
Benchmark 2020 -0.60 -8.75 -15.32 8.92 1.79 2.31 -12.87 2.86

Source and notes

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

Data shown net of fees, net income reinvested. Please note that all fund performance is shown against the MSCI Europe NR 12pm adjusted. Performance of other share classes may vary and is available on request. Where shown, monthly returns table shows compounded discrete monthly performance.

 

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 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 30 June 2020
Fund size GBP 109.99m
Number of holdings 26

Top 10 holdings and active weights

Data as at 30 June 2020
Top 10 holdings
United Internet 6.28%
Liberty Global 6.18%
Oracle 5.59%
SAP 5.37%
Heineken 4.78%
METRO Wholesale 4.68%
Vivendi 4.43%
Danone 4.24%
Deutsche Post 4.19%
Sanofi 4.08%
Top 10 active weights
United Internet +6.23%
Liberty Global +6.18%
Oracle +5.59%
Heineken +4.66%
METRO Wholesale +4.66%
Vivendi +4.17%
Deutsche Post +3.75%
Danone +3.71%
Continental +3.71%
SAP +3.58%

Sector breakdown

Data as at 30 June 2020
Portfolio Benchmark Relative
Consumer Staples 19.97% 14.77% 5.19%
Communication Services 18.70% 4.21% 14.49%
Information Technology 17.63% 7.45% 10.19%
Industrials 17.58% 13.42% 4.15%
Health Care 11.18% 16.51% -5.33%
Materials 7.98% 7.59% 0.39%
Consumer Discretionary 3.84% 9.86% -6.02%
Energy 0.00% 4.68% -4.68%
Financials 0.00% 15.14% -15.14%
Real Estate 0.00% 1.40% -1.40%
Utilities 0.00% 4.96% -4.96%
Cash 3.13% 0.00% 3.13%

Market cap breakdown

Data as at 30 June 2020
Portfolio Benchmark Relative
Large Cap 79.79% 98.31% -18.53%
Medium Cap 14.86% 1.69% 13.18%
Small Cap 2.21% 0.00% 2.21%
Cash 3.14% 0.00% 3.14%
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 31/07/2020 A GBP Ireland B3RQ272 2.219 -0.014
A USD Ireland B435PM6 1.822 0.003
A EUR Ireland B431KK7 2.074 -0.008
B GBP Ireland B3ZQS76 2.191 -0.014
B USD Ireland BF7NZT0 1.856 0.002
B EUR Ireland B5L49R5 2.108 -0.008
Z GBP Ireland B44PG77 1.575 -0.010
Z USD Ireland BVG7681 1.216 0.001
JOHCM Asia ex Japan Small and Mid Cap Fund 31/07/2020 A GBP Ireland B6R5LS4 2.325 -0.006
A USD Ireland B6R5QW3 2.029 0.009
A EUR Ireland B6R5VD9 1.956 -0.001
B GBP Ireland B6R63P8 2.292 -0.007
B USD Ireland B6R5YM9 1.954 0.008
B EUR Ireland B6R5HM0 2.234 -0.001
Z GBP Ireland B4X3T62 1.761 -0.005
JOHCM Continental European Fund 31/07/2020 A GBP Ireland 3300912 4.443 0.052
A USD Ireland BJ4G0G2 1.320 0.017
A EUR Ireland 3300923 3.436 0.049
A Hedged GBP Ireland BSJCJ49 1.158 0.016
B GBP Ireland 3100543 4.284 0.050
B USD Ireland BJ4G0H3 1.348 0.018
B EUR Ireland 3300901 3.459 0.049
Y GBP Ireland B993PD0 1.637 0.020
Y EUR Ireland B98YKX9 1.323 0.018
Y Hedged GBP Ireland BSJCJ50 1.211 0.017
JOHCM European Concentrated Value Fund 31/07/2020 A EUR Ireland BW0DJY9 0.927 0.008
B USD Ireland BW0DK13 1.074 0.014
B EUR Ireland BW0DJZ0 0.921 0.008
Z AUD Ireland BYNJFM8 1.103 0.006
Z EUR Ireland BYNJFN9 0.853 0.007
JOHCM European Select Values Fund 31/07/2020 A GBP Ireland 3290422 4.821 0.033
A EUR Ireland 3290433 2.972 0.028
B GBP Ireland 3290400 4.415 0.030
B EUR Ireland 3290411 1.990 0.020
Non-Distributing EUR Ireland BSFWK51 1.097 0.010
X EUR Ireland B4K14L9 1.423 0.013
JOHCM Global Emerging Markets Opportunities Fund 31/07/2020 A GBP Ireland B4002N4 1.302 -0.009
A USD Ireland B4M6CN0 1.103 0.000
A EUR Ireland B3ZBLW7 1.358 -0.005
B GBP Ireland B41RZ57 1.252 -0.009
B USD Ireland B4XXMP2 1.440 0.000
B EUR Ireland B4TRCR0 1.340 -0.007
Y GBP Ireland BYSGJY4 1.570 -0.011
Y USD Ireland BYSGJZ5 1.342 0.000
Z CAD Ireland BBPK0L2 1.555 -0.003
Z AUD Ireland B5W6ZB6 1.757 -0.014
Z GBP Ireland B6R54W9 1.641 -0.011
JOHCM Global Income Builder Fund 31/07/2020 GBP Ireland BFZWPH7 1.054 -0.002
A USD Ireland BFZWPF5 0.989 0.006
A EUR Ireland BFZWPD3 0.988 0.001
A SGD Ireland BFZWPG6 1.002 0.002
A GBP Ireland BFZWPC2 1.010 -0.002
B EUR Ireland BFZWPJ9 0.965 0.001
EUR EUR Ireland BKF2GH9 0.876 0.001
GBI GBP Ireland BHR0DJ1 0.995 -0.002
HEU EUR Ireland BJGW7C3 0.948 0.005
JOHCM Global Opportunities Fund (offshore) 31/07/2020 A GBP Ireland B89PQM5 1.976 -0.006
A USD Ireland B89JY23 1.939 0.009
A EUR Ireland B7MR557 2.075 0.000
B GBP Ireland BF7NZS9 2.188 -0.007
B USD Ireland B8295C7 1.856 0.008
B EUR Ireland B80FZF0 1.921 -0.001
IHX EUR Ireland BFZWWX2 0.942 0.003
X GBP Ireland BQVC9L0 1.686 -0.005
X EUR Ireland BJ5JW42 0.945 -0.001
X GBP Ireland BK8M212 0.941 -0.003
X Hedged GBP Ireland BF29TX5 0.999 0.004
Z GBP Ireland B83MS15 0.781 -0.003
Z GBP Ireland BD6R4D6 1.453 -0.004
Z EUR Ireland BDZD4M4 0.927 0.000
JOHCM Global Opportunities Fund (onshore) 31/07/2020 A Accumulating GBP UK BJ5JMC0 0.990 -0.003
A Distributing GBP UK BJ5JMD1 0.975 -0.004
AHA GBP UK BKDV8G1 0.977 0.003
X Accumulating GBP UK BJ5JMF3 0.961 -0.003
X Distributing GBP UK BJ5JMG4 0.971 -0.003
JOHCM Global Select Fund 31/07/2020 A GBP Ireland B3DBRN2 3.714 -0.004
A USD Ireland B3T31Z2 2.011 0.012
A EUR Ireland B3DBRP4 3.313 0.004
B GBP Ireland B3DBRL0 3.596 -0.005
B USD Ireland B5L7L67 2.305 0.014
B EUR Ireland B3DBRM1 3.221 0.003
Z GBP Ireland B3DCMB8 2.668 -0.002
Z USD Ireland B4V7J00 2.259 0.013
JOHCM Japan Fund 31/07/2020 A GBP Ireland 3438879 1.973 -0.067
A EUR Ireland 3438880 1.383 -0.044
A Hedged GBP Ireland B5LD7P6 1.302 -0.039
A JPY JPY Ireland 3438891 261.532 -7.874
B GBP Ireland 3438846 1.924 -0.066
B EUR Ireland 3438857 1.340 -0.042
B Hedged GBP Ireland B6386R1 1.324 -0.040
B JPY JPY Ireland 3438868 258.232 -7.750
JOHCM UK Dynamic Fund 31/07/2020 A Accumulating GBP UK B4T7HR5 1.891 0.019
A Distributing GBP UK B4T8552 1.359 0.014
B Accumulating GBP UK B4T7JX5 2.108 0.021
B Distributing GBP UK B4TXJ33 1.241 0.012
X Accumulating GBP UK BJ7HNB8 0.736 0.008
X Distributing GBP UK BJ5JMB9 0.707 0.007
Y GBP UK BDZRJ21 0.852 0.009
Y GBP Ireland BDGKPZ4 0.709 0.007
Y Accumulating GBP UK BDZRJ10 1.090 0.011
JOHCM UK Equity Income Fund 31/07/2020 A Accumulating GBP UK B03KR50 2.713 0.028
A Distributing GBP UK B03KP23 1.307 0.013
B Accumulating GBP UK B03KR83 2.524 0.026
B Distributing GBP UK B03KR61 1.215 0.013
X Distributing GBP UK BYV9S21 0.650 0.006
Y GBP UK B95FCK6 0.881 0.009
Y Accumulating GBP UK B8FCHK5 1.094 0.012
JOHCM UK Growth Fund 31/07/2020 A GBP Ireland 3300934 2.712 0.013
B GBP Ireland 3100554 2.351 0.011
REU EUR Ireland BLLV8D7 1.386 0.010
RUD USD Ireland BLLV8C6 1.528 0.018
X EUR Ireland 1.365 0.007
X EUR Ireland BLLV882 1.388 0.010
X GBP Ireland BLLV893 1.344 0.006
X USD Ireland BLLV871 1.530 0.018
JOHCM UK Opportunities Fund 31/07/2020 A Accumulating GBP UK B0LLB64 2.827 0.013
A Distributing GBP UK B3K76Q9 1.900 0.009
B Accumulating GBP UK B0LLB75 2.651 0.013
B Distributing GBP UK B3K76P8 1.807 0.008
X Accumulating GBP UK BQJZQQ5 1.299 0.006
X Distributing GBP UK B95MSF4 1.070 0.005
Y GBP UK B95J5C1 1.277 0.006
Y Accumulating GBP UK B95HP81 1.577 0.007

Dividend Rates

Funds paying monthly dividends

JOHCM Global Income Builder Fund

Share class 06/19 07/19 08/19 09/19 10/19 11/19 12/19 01/20 02/20 03/20
A  GBP 0.4143 0.5095 0.4572 0.4716 0.4537 0.4537 0.4276 0.4668 0.4491 0.4176
A EUR 0.4075 0.4935 0.4441 0.4695 0.4650 0.4650 0.4426 0.4862 0.4680 0.4171
A USD   0.3902 0.4598 0.4114 0.4324 0.4384 0.4384 0.4117 0.4592 0.4372 0.3853
A SGD  0.3905 0.4672 0.4228 0.4429 0.4398 0.4398 0.4164 0.4573 0.4418 0.4079
B EUR 0.4025 0.4870 0.4379 0.4627 0.4579 0.4579 0.4355 0.4775 0.4595 0.4088
Seed 0.4297 0.5287 0.4746 0.4897 0.4714 0.4714 0.0411 0.4859 0.4677 0.3691

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.

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  • Robrecht Wouters

    Senior Fund Manager

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  • Luis Fañanas

    Fund Manager

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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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