JOHCM Global Emerging Markets Opportunities Fund

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Fund Description

For fund managers James Syme and Paul Wimborne, identifying the right countries in which to invest is the most important influence on investment performance. Complementing their top-down view is a stock selection process that focuses on identifying quality growth stocks within their favoured countries. The result is a large-cap biased portfolio of typically 50-60 stocks.

Investment Strategy
  • James and Paul believe country allocation is the major driver of outperformance in emerging markets
  • Through an exhaustive monthly country allocation process that covers all 20+ countries within the MSCI Emerging Markets Index, the fund managers produce country allocation targets for each country within the index based on a five-factor analysis: Growth, Liquidity, Currency, Management/Politics and Valuation of equity market
  • Complementing their top-down view is a stock selection process that focuses on identifying quality growth stocks trading on attractive valuations within the fund managers’ favoured countries
  • Over time, they expect that top-down and bottom-up decisions will each contribute 50% of total value added
Reasons To Invest
  • Emerging markets are playing an increasingly important role in investors’ asset allocation decisions. They have witnessed dynamic expansion in recent years but should continue to drive global economic growth in the years ahead
  • Established, transparent investment process that has a long-term track record of outperformance
  • Strong emphasis on risk management and a consistent investment style tilt through the market cycle
An introduction to the JOHCM Global Emerging Markets Opportunities Fund
  • James Syme

    Senior Fund Manager

    small image path
  • Paul Wimborne

    Senior 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.

Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

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Investment Objective

The JOHCM Global Emerging Markets Opportunities Fund aims to achieve long-term capital appreciation from investing in a portfolio of equity securities of companies in emerging markets around the world.

Fund details

Data as at 31 December 2021
Fund size GBP 191.08m
Strategy size GBP 2bn (as at 30 June 2021)
Benchmark MSCI Emerging Markets NR 12pm adjusted
Domicile Ireland
Denomination GBP, EUR, USD
Share classes
A GBP (Launch date) 30-June-2011
A USD (Launch date) 30-June-2011
A EUR (Launch date) 30-June-2011
B GBP (Launch date) 30-June-2011
B USD (Launch date) 30-June-2011
B EUR (Launch date) 30-June-2011
Unit type Distribution
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 IE00B4002N46 B4002N4
A USD IE00B4M6CN00 B4M6CN0
A EUR IE00B3ZBLW75 B3ZBLW7
B GBP IE00B41RZ573 B41RZ57
B USD IE00B4XXMP29 B4XXMP2
B EUR IE00B4TRCR07 B4TRCR0

Fund ratings and awards

Data as at 31 December 2021
Notes

©2021 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 31/08/2021.

Fees and charges

Initial charge Up to 5%
Annual mgmt charge (A) 0.90%
Annual mgmt charge (B) 1.50%
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

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.

Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

Strategy Highlights

As at 30 November 2021

The second half of 2021 has seen challenging macro news for emerging market assets: a new and troubling Covid variant, higher developed market inflation and the prospect of tighter US monetary conditions, and evidence that the Chinese economic slowdown is broad and likely to endure. These challenges are likely to continue into 2022, and concerns are rising that, longer term, emerging markets face some serious structural challenges to growth: Chinese demand capped by the need to work through the effects of the 2008-17 credit boom, worsening global demographics, and a reversal of globalisation. That reversal is partly because Covid has shown the risks inherent in long supply chains, and partly because of rising economic nationalism; both have the potential to reduce the flow of FDI to Emerging Markets.

And yet, as ever, there are the opportunities inherent in an asset class as large and diverse as emerging market equities. There will always be some countries and some industries enjoying a boom. We retain our view that the opportunity within emerging markets is more compelling than the opportunity of emerging markets.

Firstly, the recovery in India, not just from the Covid shock, but from the broad downturn since 2010, continues to deliver powerfully. Growth is likely to run in the next few quarters at around pre-pandemic levels, with urban consumption and investment (both private sector and public sector) both buoyant. With vaccination rates rising, Covid cases currently low, and credit growth holding up, the Indian consumer has rebounded strongly, but the length of the downturn and India’s promising demographics mean that this should continue into 2022. In addition, the long-awaited recovery in capital expenditure and investment seems to be underway. Construction and engineering companies are reporting very strong new orders, particularly from the hydrocarbon, infrastructure and industrial machinery industries, while the cement industry is also seeing strong demand growth. With the current account deficit still unconcerning, and moderate inflation allowing the central bank to remain on hold (probably until the middle of 2022), India continues to offer strong domestic demand opportunities.

What we are seeing in India has similarities to other, related, opportunities in other emerging markets. These are the re-opening opportunity, and the boost from commodity exports to some emerging economies.

With rising vaccination rates and rising confidence, the leisure, travel and tourism industries have seen some strong recoveries (for example, foreign tourism into Mexico). Several other regions have not yet recovered, but we believe that they will, and that the valuation of some market-leading companies in these regions does not reflect the potential for recoveries. The portfolio has exposure to leisure, travel and tourism in Brazil, China and Korea. All three groups of companies have seen strong operational momentum in recent quarters, even though the re-opening recovery is still at an early stage.

There are other opportunities in emerging markets, including Korean and Taiwanese semiconductors and high-tech components that go into so many of the products that are in such strong demand. We also believe that the slowdown in China should lead to lower domestic bond yields there, potentially making assets with strong cashflows more valuable. But it is the recovery in India and the combination of re-opening plays and the boost to demand from commodities, which we believe are most overlooked by those investors who have focused too much on the global challenges for emerging markets.

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.

Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

Fund Reporting

Monthly Portfolio Review
Monthly Portfolio Review
Monthly Portfolio Review

KIIDs
(Key Investor Information Documents)

A GBP A EUR A USD
B GBP B EUR B USD
Y GBP Y USD

 

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.

Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

Percentage growth of the fund versus benchmark

Data as at 31 December 2021
A GBP share class, since launch (30 June 2011)

Return history (%)

Data as at 31 December 2021

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. Investing in companies in emerging markets involves higher risk than investing in established economies or securities markets. Emerging Markets may have less stable legal and political systems, which could affect the safe-keeping or value of assets. You should not base your decision to invest on this document. 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 16 - Dec 17 Dec 17 - Dec 18 Dec 18 - Dec 19 Dec 19 - Dec 20 Dec 20 - Dec 21
Fund 28.23% -9.82% 11.48% 12.47% 2.99%

Monthly returns (%)

Data as at 31 December 2021
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Since inception
Fund 2011 -2.90 -7.42 -9.23 10.91 -6.08 -15.00
Benchmark 2011 -2.13 -9.44 -10.12 10.93 -6.42 1.36 -16.19
Fund 2012 6.82 6.17 -5.29 -2.08 -8.95 -0.61 4.08 -0.36 4.65 -0.46 0.92 1.47 5.29
Benchmark 2012 9.39 5.02 -3.98 -2.73 -6.86 1.97 3.27 -2.02 3.95 1.59 4.03 13.27
Fund 2013 4.31 2.79 -1.85 -1.44 2.58 -8.64 2.04 -3.17 2.30 6.16 -1.00 -1.13 2.10
Benchmark 2013 3.65 2.67 -1.74 -1.74 -0.28 -6.87 1.83 -3.88 2.63 5.52 -3.62 -2.35 -4.79
Fund 2014 -6.05 2.81 0.24 -1.07 6.71 -0.22 3.04 2.40 -4.37 3.79 2.47 -2.94 6.23
Benchmark 2014 -6.61 2.57 2.75 -0.26 4.71 0.16 3.45 3.37 -4.88 2.10 1.26 -4.19 3.74
Fund 2015 7.69 -0.91 3.27 4.35 -1.80 -7.05 -6.65 -7.12 -1.44 8.26 -0.22 -1.35 -4.41
Benchmark 2015 4.33 0.32 2.70 3.75 -2.70 -6.20 -6.29 -7.65 -1.87 6.41 -1.32 -1.49 -10.61
Fund 2016 -6.50 2.32 7.63 -2.44 -1.25 12.99 8.34 3.76 2.90 3.61 -6.62 0.73 26.34
Benchmark 2016 -3.99 3.64 9.36 -0.88 -3.35 11.91 7.43 3.58 2.27 6.62 -6.72 1.52 34.03
Fund 2017 5.27 2.78 3.63 -1.47 4.72 0.55 3.93 3.48 -3.36 6.28 -2.14 1.96 28.23
Benchmark 2017 4.22 3.46 2.40 -1.85 4.13 -0.50 4.79 4.08 -4.26 4.96 -1.09 2.82 25.15
Fund 2018 -1.17 -2.48 -3.37 3.95 0.97 -1.40 1.42 -1.11 -1.42 -6.05 4.51 -3.62 -9.82
Benchmark 2018 3.20 -2.08 -4.01 2.49 -0.63 -3.22 2.43 -1.84 -0.65 -7.08 4.71 -2.67 -9.57
Fund 2019 3.84 -1.17 5.23 1.13 -1.34 4.98 1.80 -3.95 1.10 -3.27 -1.05 4.18 11.48
Benchmark 2019 5.45 -0.49 1.60 3.28 -4.44 5.72 3.08 -5.33 1.12 -0.91 0.31 4.90 14.44
Fund 2020 -2.10 -3.81 -14.12 11.27 0.83 7.65 -0.46 0.31 2.14 0.37 6.35 5.76 12.47
Benchmark 2020 -3.77 -3.70 -12.29 8.99 1.23 8.44 1.77 2.21 -0.28 2.15 6.49 4.44 14.60
Fund 2021 1.11 0.93 1.58 0.32 0.97 2.17 -5.13 1.45 -1.89 -1.72 -0.13 3.58 2.99
Benchmark 2021 3.10 -1.33 -0.52 1.88 -1.34 3.87 -7.21 3.48 -1.51 -1.07 -1.01 0.72 -1.43

Source and notes

JOHCM/MSCI/Bloomberg/Lipper.

Data shown net of fees, net income reinvested. Performance of other share classes may vary and is available on request. Please note that all fund performance is shown against the MSCI Emerging Markets NR 12pm adjusted in GBP. 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. Investing in companies in emerging markets involves higher risk than investing in established economies or securities markets. Emerging Markets may have less stable legal and political systems, which could affect the safe-keeping or value of assets. You should not base your decision to invest on this document. 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. 
 

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.

Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

Fund statistics

Data as at 31 December 2021
Fund size GBP 191.08m
Number of holdings 54

Top 10 holdings and active weights

Data as at 31 December 2021
Top 10 holdings
Samsung Electronics 8.47%
Petroleo Brasilero 4.98%
State Bank of India 3.84%
SK Hynix 3.71%
HKEx 3.49%
ICICI Bank 3.38%
Prosus 3.27%
CEMEX 3.03%
Emaar Properties 2.99%
ENN Energy Holdings 2.91%
Top 10 active weights
Petroleo Brasilero +4.98%
Samsung Electronics +3.84%
State Bank of India +3.70%
HKEx +3.49%
Prosus +3.27%
CEMEX +3.03%
SK Hynix +2.94%
Emaar Properties +2.92%
Longfor Properties +2.77%
ICICI Bank +2.73%

Sector breakdown

Data as at 31 December 2021
Portfolio Benchmark Relative
Information Technology 19.31% 22.67% -3.36%
Financials 19.00% 19.40% -0.40%
Consumer Discretionary 10.82% 13.54% -2.72%
Materials 10.67% 8.60% 2.07%
Real Estate 7.76% 1.95% 5.80%
Industrials 7.65% 5.07% 2.57%
Energy 7.48% 5.56% 1.92%
Consumer Staples 7.37% 5.87% 1.50%
Communication Services 5.48% 10.72% -5.24%
Utilities 3.10% 2.37% 0.73%
Health Care 0.00% 4.24% -4.24%
Cash 1.36% 0.00% 1.36%

Market cap breakdown

Data as at 31 December 2021
Portfolio Benchmark Relative
Large Cap 77.85% 80.58% -2.73%
Medium Cap 18.20% 19.42% -1.22%
Small Cap 2.59% 0.00% 2.59%
Cash 1.36% 0.00% 1.36%

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.

Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

Fund

 As at noon Share class Currency Domicile Sedol number NAV per share Change
JOHCM Asia ex Japan Fund 17/01/2022 A EUR Ireland B431KK7 2.758 -0.010
A GBP Ireland B3RQ272 2.732 -0.012
A USD Ireland B435PM6 2.332 -0.013
B EUR Ireland B5L49R5 2.778 -0.012
B GBP Ireland B3ZQS76 2.674 -0.012
B USD Ireland BF7NZT0 2.358 -0.013
Z GBP Ireland B44PG77 1.939 -0.008
Z USD Ireland BVG7681 1.558 -0.009
JOHCM Asia ex Japan Small and Mid Cap Fund 17/01/2022 A EUR Ireland B6R5VD9 2.842 0.018
A GBP Ireland B6R5LS4 3.132 0.018
A USD Ireland B6R5QW3 2.842 0.014
B GBP Ireland B6R63P8 3.051 0.017
B USD Ireland B6R5YM9 2.705 0.012
B EUR Ireland B6R5HM0 3.208 0.020
Z GBP Ireland B4X3T62 2.377 0.013
JOHCM Continental European Fund 17/01/2022 A EUR Ireland 3300923 4.803 0.015
A GBP Ireland 3300912 5.752 0.016
A USD Ireland BJ4G0G2 1.864 0.007
A Hedged GBP Ireland BSJCJ49 1.626 0.005
B EUR Ireland 3300901 4.850 0.014
B GBP Ireland 3100543 5.563 0.016
B USD Ireland BJ4G0H3 1.903 0.005
Y GBP Ireland B993PD0 2.116 0.006
Y EUR Ireland B98YKX9 1.848 0.005
Y Hedged GBP Ireland BSJCJ50 1.694 0.006
JOHCM European Concentrated Value Fund 17/01/2022 A EUR Ireland BW0DJY9 1.181 0.007
B EUR Ireland BW0DJZ0 1.177 0.008
Z AUD Ireland BYNJFM8 1.342 0.008
Z EUR Ireland BYNJFN9 1.084 0.006
JOHCM European Select Values Fund 17/01/2022 A EUR Ireland 3290433 3.970 0.029
A GBP Ireland 3290422 5.965 0.044
B EUR Ireland 3290411 2.663 0.019
B GBP Ireland 3290400 5.473 0.040
Non-Distributing EUR Ireland BSFWK51 1.478 0.011
X EUR Ireland B4K14L9 1.903 0.013
Y EUR Ireland BMXC8L3 1.069 0.009
JOHCM Global Emerging Markets Opportunities Fund 17/01/2022 A USD Ireland B4M6CN0 1.328 -0.003
A EUR Ireland B3ZBLW7 1.696 -0.002
A GBP Ireland B4002N4 1.507 -0.002
B EUR Ireland B4TRCR0 1.679 -0.002
B GBP Ireland B41RZ57 1.452 -0.002
B USD Ireland B4XXMP2 1.738 -0.005
Y GBP Ireland BYSGJY4 1.815 -0.002
Y USD Ireland BYSGJZ5 1.615 -0.004
Z CAD Ireland BBPK0L2 1.741 -0.008
Z GBP Ireland B6R54W9 1.892 -0.002
JOHCM Global Income Builder Fund 17/01/2022 A EUR Ireland BFZWPD3 1.165 0.005
A GBP Ireland BFZWPC2 1.102 0.004
A SGD Ireland BFZWPG6 1.118 0.003
A USD Ireland BFZWPF5 1.122 0.003
B EUR Ireland BFZWPJ9 1.119 0.004
Seed EUR Ireland BKF2GH9 1.038 0.004
Seed GBP Ireland BFZWPH7 1.157 0.004
Seed GBP Ireland BHR0DJ1 1.165 0.004
JOHCM Global Opportunities Fund (offshore) 17/01/2022 A EUR Ireland B7MR557 2.640 0.015
A GBP Ireland B89PQM5 2.329 0.014
A USD Ireland B89JY23 2.376 0.010
A Hedged EUR Ireland BFZWWX2 1.135 0.005
B EUR Ireland B80FZF0 2.418 0.015
B GBP Ireland BF7NZS9 2.551 0.016
B USD Ireland B8295C7 2.250 0.010
X EUR Ireland BJ5JW42 1.204 0.007
X EUR Ireland BMCZLF8 1.318 0.009
X GBP Ireland BQVC9L0 1.991 0.013
X Hedged GBP Ireland BF29TX5 1.223 0.006
Z EUR Ireland BDZD4M4 1.192 0.007
Z GBP Ireland B83MS15 0.931 0.006
Z GBP Ireland BD6R4D6 1.806 0.011
JOHCM Global Opportunities Fund (onshore) 17/01/2022 A Accumulating GBP UK BJ5JMC0 1.219 0.008
A Accumulating Hedged GBP UK BKDV8G1 1.207 0.005
A Distributing GBP UK BJ5JMD1 1.146 0.007
X Accumulating GBP UK BJ5JMF3 1.187 0.007
X Distributing GBP UK BJ5JMG4 1.146 0.007
JOHCM Global Select Fund 17/01/2022 A EUR Ireland B3DBRP4 4.751 0.036
A GBP Ireland B3DBRN2 4.931 0.036
A USD Ireland B3T31Z2 2.778 0.015
B EUR Ireland B3DBRM1 4.577 0.034
B GBP Ireland B3DBRL0 4.727 0.034
B USD Ireland B5L7L67 3.153 0.018
Z GBP Ireland B3DCMB8 3.559 0.026
Z USD Ireland B4V7J00 3.136 0.019
JOHCM Uk Dynamic Fund 17/01/2022 Y GBP Ireland BDGKPZ4 1.036 0.009
JOHCM UK Dynamic Fund (onshore) 17/01/2022 A Accumilating GBP UK B4T7HR5 2.946 0.023
A Distributing GBP UK B4T8552 1.994 0.016
B Accumulating GBP UK B4T7JX5 3.261 0.026
B Distributing GBP UK B4TXJ33 1.808 0.014
X Accumulating GBP UK BJ7HNB8 1.150 0.009
X Distributing GBP UK BJ5JMB9 1.040 0.008
Y GBP UK BDZRJ21 1.252 0.010
Y Accumulating GBP UK BDZRJ10 1.701 0.014
JOHCM UK Equity Income Fund 17/01/2022 A Accumulating GBP UK B03KR50 4.521 0.028
A Distributing GBP UK B03KP23 2.056 0.013
B Accumulating GBP UK B03KR83 4.176 0.025
B Distributing GBP UK B03KR61 1.897 0.012
X Distributing GBP UK BYV9S21 1.026 0.006
Y GBP UK B95FCK6 1.388 0.008
Y Accumulating GBP UK B8FCHK5 1.826 0.011
JOHCM UK Growth Fund 17/01/2022 A GBP Ireland 3300934 4.121 -0.008
B GBP Ireland 3100554 3.580 -0.006
Non-distributing EUR Ireland BLLV8D7 2.316 -0.004
Non-distributing USD Ireland BLLV8C6 2.459 -0.009
X EUR Ireland BLLV882 2.329 -0.004
X EUR Ireland BLLV8B5 2.101 -0.004
X GBP Ireland BLLV893 2.054 -0.003
X USD Ireland BLLV871 2.473 -0.008
JOHCM UK Opportunities Fund 17/01/2022 A Accumulating GBP UK B0LLB64 3.301 0.016
A Distributing GBP UK B3K76Q9 2.113 0.010
B Accumulating GBP UK B0LLB75 3.062 0.015
B Distributing GBP UK B3K76P8 1.987 0.009
X Accumulating GBP UK BQJZQQ5 1.520 0.007
X Distributing GBP UK B95MSF4 1.199 0.006
Y GBP UK B95J5C1 1.423 0.007
Y Accumulating GBP UK B95HP81 1.848 0.009
Regnan Global Equity Impact Solutions Fund (offshore) 17/01/2022 A EUR Ireland BN2BD91 0.966 -0.002
A GBP Ireland BN2BD80 0.905 -0.003
A USD Ireland BN2BDC4 0.911 -0.004
A Hedged EUR Ireland BN2BDB3 0.905 -0.003
B EUR Ireland BN2BDF7 0.959 -0.002
B GBP Ireland BN2BDD5 0.901 -0.002
B USD Ireland BN2BDH9 0.906 -0.003
B Hedged EUR Ireland BN2BDG8 0.892 -0.004
Seed EUR Ireland BN2BDS0 0.974 -0.004
Seed GBP Ireland BN2BDR9 0.914 -0.003
Seed USD Ireland BN2BDV3 0.918 -0.004
Seed Hedge EUR Ireland BN2BDT1 0.907 -0.004
Z GBP Ireland BN2BDN5 0.912 -0.002
Regnan Global Equity Impact Solutions Fund (onshore) 17/01/2022 A Accumulating GBP UK BMCZDD0 1.062 -0.003
F Accumulating GBP UK BMCZDJ6 1.071 -0.002
Y Accumulating GBP UK BMCZDK7 1.064 -0.003
Regnan Sustainable Water and Waste Fund (offshore) 17/01/2022 A EUR Ireland BLPKC72 0.946 0.001
A USD Ireland BLPKC94 0.958 -0.001
A GBP Ireland BLPKC61 0.930 0.001
B EUR Ireland BLPKCC7 0.948 0.000
B GBP Ireland BLPKCB6 0.932 0.001
B USD Ireland BLPKF84 0.960 -0.001
Y EUR Ireland BLPKFC8 0.947 0.002
Y USD Ireland BLPKFF1 0.958 -0.001
Y GBP Ireland BLPKF95 0.930 0.001
Regnan Sustainable Water and Waste Fund (onshore) 17/01/2022 A Accumulating GBP UK BMYXD32 0.991 0.000
F Accumulating GBP UK BMYXQ55 0.994 -0.001
Y Accumulating GBP UK BMYXQ55 0.994 -0.001

Dividend Rates

Funds paying monthly dividends

JOHCM Global Income Builder Fund

Share class 12/20 01/21 02/21 03/21 04/21 05/21 06/21 07/21 08/21 09/21 10/21 11/21 12/21
A  GBP 0.4363 0.4312 0.3200 0.3071 0.3763 0.3485 0.3257 0.3877 0.3516 0.3570 0.3621 0.3848 0.3789
A EUR 0.4289 0.4233 0.3205 0.3138 0.3899 0.3555 0.3336 0.3978 0.3638 0.3677 0.3601 0.3996 0.4003
A USD   0.4335 0.4393 0.3270 0.3191 0.3864 0.3605 0.3443 0.3985 0.3651 0.3597 0.3518 0.3821 0.3812
A SGD  0.4296 0.4274 0.3217 0.3140 0.3844 0.3558 0.3364 0.3965 0.3644 0.3609 0.3506 0.3848 0.3823
B EUR 0.4174 0.4115 0.3114 0.3046 0.3781 0.3444 0.3229 0.3847 0.3515 0.3546 0.3469 0.3847 0.3850
Seed 0.3806 0.3757 0.2846 0.2787 0.3464 0.3160 0.2966 0.3538 0.3237 0.3274 0.3207 0.3561 0.3978

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 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21
A distributing GBP 2.7970 2.0409 1.5930 1.1154 1.2632 1.0771 1.1681 2.3283 3.0863 1.2881
A accumulating GBP 5.5449 4.1082 3.2391 2.2958 2.6218 2.2581 2.4649 4.9447 6.6368 2.8152
B distributing GBP  2.6093 1.9017 1.4790 1.0379 1.1739 0.9997 1.0825 2.1559 2.8539 1.1897
B accumulating GBP 5.1861 3.8367 3.0210 2.1395 2.4391 2.0980 2.2869 4.5836 6.1431 2.6020
Y distributing GBP 1.8832 1.3744 1.0730 0.7534 0.8514 0.7263 0.7879 1.5709 2.0833 0.8697
Y accumulating GBP 2.2334 1.6547 1.3051 0.9242 1.0570 0.5363 0.9944 1.9953 2.6787 1.1364

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 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 2021 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 28 Feb 2022 pence per share 6.2558
A - accumulating GBP 28 Feb 2022 pence per share 8.9515
B - distributing GBP 28 Feb 2022 pence per share 5.6880
B - accumulating GBP 28 Feb 2022 pence per share 9.9325
Y - distributing GBP 28 Feb 2022 pence per share 3.9239
Y - accumulating GBP 28 Feb 2022 pence per share 5.1639
Y GBP 28 Feb 2022 pence per share 3.2091

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

  • 20 Dec 2021

    Emerging Markets Spotlight

    The opportunity within emerging markets is more compelling than the opportunity of emerging markets.

    Read More
  • 18 Nov 2021

    Emerging Markets Spotlight

    We have seen continued high inflation prints across the world, with volatility in interest rate expectations testing the resolve of central banks...

    Read More
  • 11 Oct 2021

    What a China-Taiwan conflict could mean for stocks

    James Syme, manager of the JOHCM Global Emerging Markets Opportunities fund, takes a look back at how geopolitics have historically impacted stock markets.

    Read More
  • 13 Sep 2021

    Emerging Markets Spotlight

    There has been substantial commentary around the changing regulatory environment in China, but is this overshadowing the economic data?

    Read More
  • 10 Aug 2021

    Emerging Markets Spotlight

    Pandemic policies and the implications for emerging market investors. 

    Read More
  • 26 Jul 2021

    Emerging Markets Spotlight

    Five indicators to monitor risk and opportunity from the JOHCM Global Emerging Markets Opportunities team. 

    Read More
  • 16 Jun 2021

    Emerging Markets Spotlight

    Portfolio positioning around the commodity rally: the JOHCM Global Emerging Markets Opportunities team provide an update

    Read More
  • 16 May 2021

    Emerging Markets Spotlight

    The pick-up in capital flows, higher commodity prices and vaccination roll-outs are powerful drivers for commodity-exporting emerging markets.

    Read More
  • 27 Apr 2021

    Emerging Markets Spotlight

    With Covid-19 case numbers rising rapidly, James Syme reviews the portfolio's Indian exposure. 

    Read More
  • 23 Mar 2021

    Emerging Markets Spotlight

    A top-down look at Brazil from the JOHCM Global Emerging Markets Opportunities team.

    Read More
  • 19 Feb 2021

    Emerging Markets Spotlight

    James Syme takes a look at the higher-beta emerging markets and gives his thoughts on where the opportunities lie.    

    Read More
  • 18 Jan 2021

    Emerging Markets Spotlight

    James Syme on why the team are reducing their exposure to Chinese equities. 

    Read More
  • 16 Dec 2020

    Emerging Markets Spotlight

    Looking for signs as to which economies (and, potentially, markets) are in the best positions to recover.

    Read More
  • 16 Nov 2020

    Emerging Markets Spotlight

    The technology names with a catalyst. James Syme talks portfolio positioning in a tech-heavy world.

    Read More
  • 15 Oct 2020

    Emerging Markets Spotlight

    2020 has seen an upsurge in anti establishment protests in Thailand. James Syme provides his thoughts. 

    Read More
  • 10 Sep 2020

    Emerging Markets Spotlight

    The Emerging Markets Opportunities team highlight one of their strongest conviction ideas. 

    Read More
  • 12 Aug 2020

    Emerging Markets Spotlight

    Observations on some interesting differences between inflation dynamics in major Latin American countries.

    Read More
  • 15 Jul 2020

    Emerging Markets Spotlight

    A top-down look at the countries the JOHCM Global Emerging Markets Opportunities team are avoiding. 

    Read More
  • 13 Jun 2020

    Emerging Markets Spotlight

    The US hegemon versus the Chinese challenger: echoes of history

    Read More
  • 14 May 2020

    Emerging Markets Spotlight

    Emerging markets to avoid: the JOHCM Global Emerging Markets Opportunities team provide their top down analysis.

    Read More

Webcasts & Videos

  • Video Image
    JOHCM Global Emerging Markets Opportunities Fund Q4 2021 Update

    24 Jan 2022 03:00 PM | 60 mins

  • Video Image
    JOHCM Global Emerging Markets Opportunities Fund Q3 2021 Update

    26 Oct 2021 | 20 mins

  • Video Image
    JOHCM Global Emerging Markets Opportunities Fund Q2 2021 Update

    15 Jul 2021 | 21 mins

  • Video Image
    JOHCM Global Emerging Markets Opportunities Fund Q1 2021 Update

    22 Apr 2021 | 20 mins

  • James Syme

    Senior Fund Manager

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  • Paul Wimborne

    Senior 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.

Investors should note that this strategy invests in emerging markets and such investments may carry risks with failed or delayed settlement and with registration and custody of securities. Companies in emerging markets may not be subject to accounting, auditing and financial reporting standards or be subject to the same level of government supervision and regulation as in more developed markets. Government involvement in the economy may affect the value of investments in certain emerging markets and the risk of political instability may be high. The reliability of trading and settlement systems in some emerging markets may not be equal to that available in more developed markets which may result in problems in realising investments. Lack of liquidity and efficiency in certain of the stock markets or foreign exchange markets in certain emerging markets may mean that from time to time the Investment Manager may experience difficulty in purchasing or selling holdings of securities. Furthermore, due to local postal and banking systems, no guarantee can be given that all entitlements attaching to quoted and over-the counter traded securities acquired by this strategy, including those related to dividends, can be realised.

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Environmental and Social Characteristics

The investments underlying the Fund do not take into account the EU criteria for environmentally sustainable economic activities within the meaning of the Taxonomy Regulation (Regulation (EU) 2020/852 and amending Regulation (EU) 2019/2088).

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