JOHCM Global Emerging Markets Opportunities Fund J O Hambro Capital Management (JOHCM)

Fund Description

For fund managers James Syme, Paul Wimborne and Ada Chan, 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.

James, Paul and Ada 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

James Syme

Senior Fund Manager
Paul Wimborne

Senior Fund Manager
Ada Chan

Senior Fund Manager

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. 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. Investments may 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.

Back

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 May 2024

Fund size

GBP 194.42m

Strategy size

GBP 2.03bn (as at 31 December 2023)

Benchmark

MSCI Emerging Markets NR 12pm adjusted

Domicile

Ireland

Denomination

GBP, EUR, USD

Share classes

Please click here

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 ratings and awards

Data as at 31 May 2024

For our latest fund ratings and awards, please view our latest factsheet here

Fees and charges

Initial charge	Up to 5%
Performance fee	Please review the latest factsheet for more information our fees and charges here

Administration

Status	UCITS
Investment manager	J O Hambro Capital Management Limited
Transfer agent and registrar	Northern Trust International Fund Administration Services (Ireland) Limited
Depositary	Northern Trust Fiduciary Services (Ireland) 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. 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. Investments may 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 May 2024

The development processes in emerging markets are significantly funded by money flowing in from exports, or, more precisely, from the provision of goods and services to the rest of the world. That includes physical goods, from crude oil to semiconductors; it includes services such as software, tourism and call centres; it also can be thought to include remittances from citizens working overseas. We have written previously about the importance of remittances to Mexico (March 2024: trade exports USD 50.8bn, remittances USD 5.0bn), but the publication of the World Migration Report 2024 allows a review into the wider role of remittances to emerging markets.

Since 2015, remittances have been the largest source of external finance flows to developing countries ex-China. In 2023, remittance flows to developing countries are estimated to have increased by 3.8% to reach USD 669 bn. Remittances have been about three times the volume of official development aid and are now larger than foreign direct investment (FDI) flows. In general, it is the poorer developing countries for whom migration and remittances are most important. The three countries with the highest remittances to GDP are Tajikistan (51%), Samoa (44%) and Lebanon (36%), but none of those have equity markets suitable for investment.

Within the group of investable emerging markets, these capital flows can also be important. In 2023, the top five developing countries for receiving remittance inflows were India (USD 125 bn, 3.4% of GDP), Mexico (USD 67 bn, 3.7% of GDP), China (USD 50 bn), the Philippines (USD 40 bn, 9.2% of GDP), and Egypt (USD 24 bn, 6.1% of GDP). Given that, for example, India and the Philippines are expected to run current account deficits this year of 1.2% and 2.5% of GDP respectively, these remittances are extremely important.

Remittances are also generally very stable, offsetting the economic volatility that these countries often display. For example, in the covid-hit year of 2020, the worst month of remittances was down 13.7% on the 2019 average, whereas the worst month of exports was down 52.8%. Because remittances are effectively determined in the currency of the host nation, weakness in emerging market currencies increases the local currency value of remittances, also providing support in difficult times.

An interesting fact from the report is about the cost of sending remittances. Despite a UN Sustainable Development Goal target to reduce the cost of a typical remittance transaction to 3% of the transfer, costs remain in the region of 5-6%. Although that is a significant friction for consumers, 5-6% of USD 669bn is a huge revenue source for emerging market banks, while the quest to lower those fees is a powerful opportunity for new players in emerging market financial services.

One group of emerging markets that have a very different profile are the countries in the Arabian Gulf. For 2022, the latest year available, the remittance outflows for Saudi Arabia, the UAE, Qatar and Kuwait totalled over USD 110bn and are in turn material to lower-income countries in South Asia and the Middle East (Egypt alone receives over USD 8bn of remittances a year from each of Saudi Arabia and the UAE). These differences are a reminder of the diversity of income levels, development models and growth drivers within emerging markets, and yet more evidence for a top-down, country driven approach to emerging market equity investing.

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. 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. Investments may 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 Reporting

Factsheet

Monthly Portfolio Review

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. 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. Investments may 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 May 2024

A GBP share class, since launch (30 June 2011)

Return history (%)

Data as at 31 May 2024

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.

	Mar 19 - Mar 20	Mar 20 - Mar 21	Mar 21 - Mar 22	Mar 22 - Mar 23	Mar 23 - Mar 24
Fund	-16.51%	44.15%	-5.71%	0.89%	5.06%

Monthly returns (%)

Data as at 31 May 2024

		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
Fund	2022	-0.38	-4.53	-0.21	-0.42	1.97	-4.27	0.43	4.80	-3.56	-4.33	6.23	-0.56	-5.36
Benchmark	2022	-1.90	-2.44	-0.10	-1.42	-0.04	-2.55	-1.01	5.37	-7.64	-7.13	10.29	-1.00	-10.29
Fund	2023	3.05	-3.29	1.52	-1.21	-1.30	2.19	3.08	-3.82	-0.87	-4.44	3.05	3.92	1.39
Benchmark	2023	4.90	-4.65	0.79	-1.96	-0.52	1.08	4.46	-4.44	0.44	-3.08	3.61	3.21	3.29
Fund	2024	-4.86	6.01	3.95	1.24	-2.66								3.32	73.54
Benchmark	2024	-4.14	5.08	2.86	1.32	-1.05								3.88	58.19

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.

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. 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. Investments may 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 May 2024

Fund size	GBP 194.42m
Number of holdings	51

Top 10 holdings and active weights

Data as at 31 May 2024

Top 10 holdings

Taiwan Semiconductor	9.17%
Tencent	8.00%
Larsen & Toubro	4.73%
Mahindra & Mahindra	3.66%
TRIP COM GROUP	3.45%
Samsung Electronics	3.41%
Itau Unibanco	3.10%
Grupo Fin Banorte	3.01%
Meituan	2.91%
CEMEX	2.85%

Top 10 active weights

Larsen & Toubro	+4.32%
Tencent	+3.82%
Mahindra & Mahindra	+3.28%
TRIP COM GROUP	+3.07%
CEMEX	+2.85%
Itau Unibanco	+2.71%
Grupo Fin Banorte	+2.67%
Barrick Gold	+2.55%
ENN Energy Holdings	+2.47%
BANK MANDIRI	+2.46%

Sector breakdown

Data as at 31 May 2024

	Portfolio	Benchmark	Relative
Financials	24.18%	22.03%	2.15%
Information Technology	14.19%	23.15%	-8.96%
Consumer Discretionary	12.93%	12.82%	0.11%
Consumer Staples	8.82%	5.43%	3.39%
Communication Services	8.25%	9.02%	-0.77%
Industrials	7.37%	7.11%	0.27%
Materials	7.32%	7.29%	0.03%
Real Estate	5.67%	1.55%	4.13%
Energy	4.48%	5.28%	-0.81%
Utilities	3.04%	3.08%	-0.04%
Health Care	0.91%	3.24%	-2.33%
Cash	2.83%	0.00%	2.83%

Market cap breakdown

Data as at 31 May 2024

	Portfolio	Benchmark	Relative
Large Cap	85.04%	78.88%	6.16%
Medium Cap	11.54%	21.11%	-9.57%
Small Cap	0.59%	0.00%	0.59%
Cash	2.83%	0.00%	2.83%

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. 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. Investments may 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 Group	Fund	As at noon	Share class	Currency	Domicile	ISIN number	NAV per share	Change	KIID
Emerging Markets Equities	JOHCM Global Emerging Markets Opportunities Fund	02/07/2024	A EUR	EUR	Ireland	IE00B3ZBLW75	1.62	-0.011
Emerging Markets Equities	JOHCM Global Emerging Markets Opportunities Fund	02/07/2024	A GBP	GBP	Ireland	IE00B4002N46	1.459	-0.011
Emerging Markets Equities	JOHCM Global Emerging Markets Opportunities Fund	02/07/2024	A USD	USD	Ireland	IE00B4M6CN00	1.19	-0.012
Emerging Markets Equities	JOHCM Global Emerging Markets Opportunities Fund	02/07/2024	B EUR	EUR	Ireland	IE00B4TRCR07	1.599	-0.011
Emerging Markets Equities	JOHCM Global Emerging Markets Opportunities Fund	02/07/2024	B GBP	GBP	Ireland	IE00B41RZ573	1.403	-0.01
Emerging Markets Equities	JOHCM Global Emerging Markets Opportunities Fund	02/07/2024	B USD	USD	Ireland	IE00B4XXMP29	1.555	-0.016
Emerging Markets Equities	JOHCM Global Emerging Markets Opportunities Fund	02/07/2024	Y GBP	GBP	Ireland	IE00BYSGJY42	1.76	-0.013
Emerging Markets Equities	JOHCM Global Emerging Markets Opportunities Fund	02/07/2024	Y USD	USD	Ireland	IE00BYSGJZ58	1.448	-0.014
Emerging Markets Equities	JOHCM Global Emerging Markets Opportunities Fund		Z - Class AUD		Ireland	IE00B5W6ZB60
Emerging Markets Equities	JOHCM Global Emerging Markets Opportunities Fund	02/07/2024	Z - Class CAD	CAD	Ireland	IE00BBPK0L23	1.718	-0.011
Emerging Markets Equities	JOHCM Global Emerging Markets Opportunities Fund	02/07/2024	Z - Class GBP	GBP	Ireland	IE00B6R54W91	1.84	-0.014

Dividend Rates

Funds paying quarterly dividends

JOHCM UK Equity Income Fund

Share class	Q4 21	Q1 22	Q2 22	Q3 22	Q4 22	Q1 23	Q2 23	Q3 23
A distributing GBP	1.2881	1.9828	3.4453	3.1410	1.8309	2.1053	3.2723	3.4292
A accumulating GBP	2.8152	4.3509	7.6541	7.1149	4.2268	4.9097	7.7197	8.2427
B distributing GBP	1.1897	1.8271	3.1746	2.8895	1.6822	1.9315	3.0000	3.1395
B accumulating GBP	2.6020	4.0228	7.0604	6.5526	3.8884	4.5096	7.0851	7.5529
Y distributing GBP	0.8697	1.3383	2.3274	2.1211	1.2376	1.4237	2.2134	2.3200
Y accumulating GBP	1.1364	1.7602	3.0924	2.8757	1.7088	1.9315	3.1230	3.3359

Dividends are quoted and paid in pence per share

Distribution of income occur on or before: 31 May, 31 August, 30 November and 28 February

The quarterly table above shows the last two years net dividends (on an accounting rather than a paid basis) for this fund. If you require the dividends for previous time periods, please contact Northern Trust directly on 0333 300 0359 or by email JOH_Onshore_TAQueries@ntrs.com.

Funds paying semi-annual dividends

Distribution of income occur on or before: 31 August and 28 February

JOHCM UK Dynamic Fund (Onshore)

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A - distributing	GBP	31 Aug 2023	pence per share	4.7348
A - accumulating	GBP	31 Aug 2023	pence per share	7.2848
B - distributing	GBP	31 Aug 2023	pence per share	4.2666
B - accumulating	GBP	31 Aug 2023	pence per share	8.0119
Y - distributing	GBP	31 Aug 2023	pence per share	2.9766
Y - accumulating	GBP	31 Aug 2023	pence per share	4.2119
X - distributing	GBP	31 Aug 2023	pence per share	2.4775
X - accummulating	GBP	31 Aug 2023	pence per share	2.8519
M - distributing	GBP	31 Aug 2023	pence per share	0.6975
M - accumulating	GBP	31 Aug 2023	pence per share	0.6975
K - distributing	GBP	31 Aug 2023	pence per share	0.6130
K - accumulating	GBP	31 Aug 2023	pence per share	0.6128

JOHCM UK Dynamic Fund (Offshore)

Share class	Currency	Pay date	Dividend paid in	Dividend rate
Y	GBP	31 Aug 2023	pence per share	2.2517
Y	EUR	31 Aug 2023	pence per share	2.1310
Y	USD	31 Aug 2023	pence per chare	2.3831

JOHCM Global Select Shariah Fund

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A	USD	31 Aug 2023	pence per share	0.3187

Funds paying annual dividends

Distribution of income occur on or before 28 February

JOHCM Asia ex Japan Fund

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A	GBP	28 Feb 2023	pence per share	0.0000
A	EUR	28 Feb 2023	cents per share	0.0000
A	USD	28 Feb 2023	cents per share	0.0000
B	GBP	28 Feb 2023	pence per share	0.0000
B	EUR	28 Feb 2023	cents per share	0.0000
B	USD	28 Feb 2023	cents per share	0.0000
Z	GBP	28 Feb 2023	cents per share	1.2559
Z	USD	28 Feb 2023	cents per share	0.0088

JOHCM Asia ex Japan Small and Mid Cap Fund

Share class	Currency	Pay date	Dividend paid in
A	GBP	28 Feb 2023	pence per share
A	EUR	28 Feb 2023	cents per share
A	USD	28 Feb 2023	cents per share
B	GBP	28 Feb 2023	pence per share
B	EUR	28 Feb 2023	cents per share
B	USD	28 Feb 2023	cents per share
Z	GBP	28 Feb 2023	cents per share

JOHCM Continental European Fund

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A	GBP	28 Feb 2023	pence per share	10.0915
A	EUR	28 Feb 2023	cents per share	7.9953
A - hedge	GBP	28 Feb 2023	pence per share	2.9851
B	GBP	28 Feb 2023	pence per share	7.7618
B	EUR	28 Feb 2023	cents per share	6.4068
B - hedge	USD	28 Feb 2023	cents per share	1.1526
Y	GBP	28 Feb 2023	pence per share	3.7378
Y - hedge	GBP	28 Feb 2023	pence per share	3.2781
Y	EUR	28 Feb 2023	cents per share	3.0566

JOHCM European Select Values Fund

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A	GBP	28 Feb 2023	pence per share	4.8151
A	EUR	28 Feb 2023	cents per share	2.6779
B	GBP	28 Feb 2023	pence per share	2.0318
B	EUR	28 Feb 2023	cents per share	0.8256
Y	EUR	28 Feb 2023	cents per share	0.8964

JOHCM Global Emerging Markets Opportunities Fund

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A	GBP	28 Feb 2023	pence per share	3.9725
A	EUR	28 Feb 2023	cents per share	3.7874
A	USD	28 Feb 2023	cents per share	2.7065
B	GBP	28 Feb 2023	pence per share	3.5330
B	EUR	28 Feb 2023	cents per share	3.4128
B	USD	28 Feb 2023	cents per share	3.0881
Y	GBP	28 Feb 2023	pence per share	4.9039
Y	USD	28 Feb 2023	cents per share	2.8124
Z	GBP	28 Feb 2023	cents per share	7.3245

JOHCM Global Opportunities Fund (onshore)

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A	GBP	28 Feb 2023	pence per share	2.5742
A - hedged	GBP	28 Feb 2023	pence per share	2.3240
X	GBP	28 Feb 2023	cents per share	2.4772

JOHCM Global Opportunities Fund (offshore)

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A	GBP	28 Feb 2023	pence per share	4.4298
A	EUR	28 Feb 2023	cents per share	4.1956
A	USD	28 Feb 2023	cents per share	3.3076
B	EUR	28 Feb 2023	cents per share	3.8301
B	USD	28 Feb 2023	cents per share	3.1239
A - hedged	EUR	28 Feb 2023	cents per share	1.6538
X	GBP	28 Feb 2023	cents per share	3.7875
Z	GBP	28 Feb 2023	cents per share	1.7774
X - hedged	GBP	28 Feb 2023	cents per share	2.1090
X	EUR	28 Feb 2023	cents per share	1.9147

JOHCM Global Select Fund

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A	GBP	28 Feb 2023	pence per share	2.5774
A	EUR	28 Feb 2023	cents per share	2.0747
A	USD	28 Feb 2023	cents per share	1.0629
B	GBP	28 Feb 2023	pence per share	0.0000
B	EUR	28 Feb 2023	cents per share	0.0000
B	USD	28 Feb 2023	cents per share	0.0000
Z	GBP	28 Feb 2023	pence per share	4.2279

JOHCM UK Growth Fund

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A	GBP	28 Feb 2023	pence per share	4.6405
B	GBP	28 Feb 2023	pence per share	2.4239
X	GBP	28 Feb 2023	pence per share	2.5898

JOHCM UK Opportunities Fund

Share class	Currency	Pay date	Dividend paid in	Dividend rate
A - distributing	GBP	28 Feb 2023	pence per share	6.1160
A - accumulating	GBP	28 Feb 2023	pence per share	9.5564
B - distributing	GBP	28 Feb 2023	pence per share	5.7397
B - accumulating	GBP	28 Feb 2023	pence per share	8.8440
Y - accumulating	GBP	28 Feb 2023	pence per share	5.3515
Y - distributing	GBP	28 Feb 2023	pence per share	4.1220

Net dividends quoted in the local share class currency.

If you would like more information, please contact Northern Trust directly on 0333 300 0359 or by email JOH_Onshore_TAQueries@ntrs.com. Email us at oeicdealing@johcm.co.uk.

Views & News

04 Jun 2024
Remember Remittances

Remittances have been the largest source of external finance flows to developing countries ex-China
Read More
09 May 2024
Double Dollar

The dollar is stronger than it’s been in 20 years. What’s the impact on emerging markets?
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15 Apr 2024
Strong Economies, Falling Rates

Rates in Mexico and Brazil are coming down. Despite cautious guidance, we believe further cuts will be ahead of consensus
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19 Mar 2024
Another Look at Emerging Markets

As investors move away from China, we look at some interesting alternatives
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07 Mar 2024
The Emirati Edge

The UAE has made major strides in diversifying its economy away from hydrocarbons, leveraging astute diplomacy to develop global services and property sectors
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09 Feb 2024
Foreign Investors Are Voting to Leave China

Technical indicators reveal the negative effect of foreigners disinvesting Chinese Stocks
Read More
08 Jan 2024
Elections Set the Agenda for 2024

Elections in Russia and the US may be very different in both form and substance, but they will set the tone for emerging markets in what will be a year of elections worldwide
Read More
20 Dec 2023
India’s Digital Miracle

India's digital revolution and its journey to become the world's third-largest economy
Read More
13 Dec 2023
Keeping Positive but Realistic

As India revels in its growth, will high valuations prove resilient amidst the shifting landscape?
Read More

Webcasts & Videos

Out of China…into Where?

27 Oct 2023 | 29 mins
JOHCM Global Emerging Markets Opportunities Fund Q4 2021 Update

24 Jan 2022 | 21 mins
JOHCM Global Emerging Markets Opportunities Fund Q3 2021 Update

26 Oct 2021 | 20 mins
JOHCM Global Emerging Markets Opportunities Fund Q3 2021 Update

26 Oct 2021 | 20 mins

James Syme

Senior Fund Manager
Paul Wimborne

Senior Fund Manager
Ada Chan

Senior Fund Manager

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. 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. Investments may 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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